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Fleysher Law Blog

Foreclosure & Short Sale

Tips for Foreclosure & Short Sale Buyers

After experiencing years of depression, Florida’s housing market is returning. Moreover, it contains many homes that are being marketed as either short sales or foreclosures. For anyone interested in potentially purchasing one of these homes, the following information is critically important. Here are some differences between foreclosure & short Sale. Price Between Foreclosure & Short Sale is Different First is the condition and price of the home. Since a foreclosure

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Loss Mitigation Programs

Loss Mitigation Programs Overview

In the wake of the housing crisis, lawsuits against lenders, and settlements between government entities and some of the world’s biggest banks, an alphabet soup of loss mitigation programs have emerged and re-emerged. To help make sense of all of the available loss mitigation programs and how they relate to your situation, I have prepared the below outline. It describes substantially all of the major programs offered on residential loans

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Florida Loses Top Foreclosure Spot to Nevada

Florida has ranked number one in the nation for foreclosure activity during the last 6 months. But, now the run has ended. New statistics for March 2013 report Nevada as now being number one in the country. One in every 317 homes in Florida is in some stage of foreclosure. Meanwhile, statistics show one in every 306 homes in Nevada is in foreclosure. According to RealtyTrac, Florida had 12,100 new

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Non-Jury Trial

Why was my Foreclosure Case Scheduled for Non-Jury Trial?!

A large number of people are getting a non-jury trial order from the court. If you are among the thousands of South Florida borrowers in Foreclosure that have recently received an order from the court scheduling a non-jury trial, your time and options are definite. South Florida courts have enacted new rules and procedures to push through aging foreclosure cases, which will clear their caseload. But, they send myriad properties

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Mediation Program

South Florida Bankruptcy Courts Implement Mortgage Modification Mediation Program

A mediation program is usually a great way for a plaintiff and defendant to sit down with a neutral arbiter to hash out their differences. And, to come to a resolution that is usually better than continued litigation. Mediation is successful in all types of disputes including personal injury cases, contract disputes, and even divorces. However, in these cases, circuit court judges will readily punish a party who fails to

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Foreclosure bill

Foreclosure Speed-Up Bill Continues House Trek

The bill to expedite the foreclosure process has passed its second committee, the House Justice Appropriations Committee, by a 9-2 vote. Known as House Bill 87, this bill allows third-party lien holders to start foreclosure proceedings. And, it rushes the final judgment of foreclosure if a legitimate defense is not filed. Objections from consumer advocates fear HB 87 would put the rights of homeowners at risk. But, the bill also

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zombie foreclosures

Borrowers Are Discovering That Their Foreclosed Homes Are Coming Back To Haunt Them — Long After They Have Moved Out

Your home has been in foreclosure, possibly for years. And, the bank has finally set a sale date so you move out. You and your family are starting over in a new home. Moreover, you no longer think of your old home that the bank sold. That is, until years later when a debt collector calls to tell you that you owe thousands in new debt from the home. That

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private mortgage insurance

Insurer Can Sue for Unpaid Mortgage Debt

The most important thing to learn before short selling a property or having the lender foreclose upon is whether or not the renouncing of the deficiency will happen. If the deficiency has been waived then you do not have to pay that debt. If the deficiency was not waived when your property was short sold or foreclosed upon and your loan had private mortgage insurance; then make preparations for a

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Paid-Off Mortgages

21 Million Americans have Paid-Off Mortgages

The number of paid-off mortgages is pretty high. According to a Zillow analysis, about 21 million Americans (or 29.3 percent of homeowners) own homes unencumbered by mortgages. Out of these, the largest group composed of 65-74-year-olds makes up about 20 percent. Also, Zillow found 34.5 percent of 20-24-year-olds are also own their homes outright. Only 28 percent of homeowners in the Miami-Fort Lauderdale area are debt-free, i.e., have paid-off mortgages;

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House is Underwater

Options for Florida Homeowners with Homes that are “Underwater”

What are your Options if your House is Underwater? More and more Floridians are coming to the unsettling realization that their homes are now worth less than they owe on their mortgage(s). This unfortunate scenario is commonly referred to as your house being “underwater.” One of the most common questions that clients ask is “What are my options if my house is underwater?” Generally, the answer is that you have

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