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Fleysher Law Blog

Reset of Loans Causes Increase in Home-Equity Payments
By: Emil Fleysher | March 18, 2015 | Bankruptcy
As interest-only periods expire on loans begun during the housing bubble era, 3.3 million homeowners will be facing higher payments during the next four years on home-equity lines of credit, according to RealtyTrac. The Heloc loans that totaled $158 billion are requiring principal paydowns beginning this 2015 through 2018. There is a rising threat over
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‘70s Pop Star Files Bankruptcy
By: Emil Fleysher | March 13, 2015 | Bankruptcy
The 64-year-old former teen idol pop star David Cassidy has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Fort Lauderdale where he owns a waterfront property. Furthermore, David Cassidy reported debts included credit cards bills of almost $40,000, a mortgage of nearly $300,000. And, a substantial amount in accountant and attorney fees.
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No Foreclosure If No Default Notice Received
By: Emil Fleysher | March 11, 2015 | Foreclosure
The Fourth District Court of Appeal ruled in favor of the homeowner over Deutsche Bank in a foreclosure case over the notice of default. In fact, the property that the bank was trying to recover is in Port St. Lucie, one of the cities hit the hardest by the housing bubble. However, the hay that
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When Mortgage Transfers Go Awry
By: Emil Fleysher | March 9, 2015 | Foreclosure
The Fourth District Court of Appeal ruled against HSBC Bank USA in a foreclosure case for lack of standing. The defendants, Donna and Marc Murray, appealed a final foreclosure judgment against the bank with the argument that they failed to validate that the mortgage originator transferred its rights. Judge Melanie May wrote on behalf of
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Landlords Gain As Demand For Rental Properties Increase
By: Emil Fleysher | March 5, 2015 | Bankruptcy
In a report provided by the U.S. Census Bureau in Washington, D.C. the number of rental properties that are inhabited by renters grew by 2 million last year. The number of available rental properties has fallen 7 percent in the fourth quarter; the lowest it has been since 1993. Since the job market has picked
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Bankruptcy Attorney Suspended for Overcharging Clients
By: Emil Fleysher | March 4, 2015 | Bankruptcy
The biggest bankruptcy attorney in Pennsylvania is now under accusations of overcharging hundreds of his clients. And, misspending thousands of dollars. One victim, Sharon Kaluzny, had to file a Chapter 13 bankruptcy after a tough divorce. Moreover, caring for sick parents forced her to close down her hair salon in 2006. Ms. Kaluzny paid Mr.
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Florida “Zombie” Foreclosures Are The Highest Throughout The Nation
By: Emil Fleysher | February 12, 2015 | Foreclosure
Throughout the U.S., Florida has the highest number of “zombie” foreclosures. “Zombie” foreclosure is a term for properties that are under foreclosure but have been abandoned. There are only 36,000 pending “zombie” foreclosures, which is a 35 percent decline from this time last year. However, other states are also experiencing the same; such as California,
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Clerical Error Costs Bank Foreclosure Case
By: Emil Fleysher | February 3, 2015 | Foreclosure
A clerical error cost Bank of America a four-year foreclosure case when it should have been something clear-cut. In 2009 the plaintiff was granted a final judgment against the defendant Heather Epstein. She moved out of the property the following year. And, Bank of America took over the property with a new certificate of title.
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Defective Paperwork Should Win You The Case, But That's Not Necessarily True
By: Emil Fleysher | January 28, 2015 | Foreclosure
One could assume that defective paperwork would cost the lender their case. But, it doesn’t necessarily mean that because it depends on which judge is handling it. For BAC Home Loans Servicing LP, mishandled documentation during the height of the robo-signing cost them a foreclosure judgment against homeowner Rosanie Joseph. This was because they failed
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How Late Is Too Late To Foreclose?
By: Emil Fleysher | January 12, 2015 | Foreclosure
Florida has a five-year statute of limitations for mortgage foreclosures. This means that the lender can file a foreclosure lawsuit within five years. This is possible if a borrower defaults on his or her payments. But this leaves the question of whether the clock restarts if there is a case dismissal. Or, if the time
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