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Zombie foreclosures, or abandoned properties that are going through the foreclosure process, have had a dramatic decline in South Florida in the past year. According to RealtyTrac’s Zombie Foreclosure Alert, there has been a 46 percent decline in Zombie Foreclosure during the second quarter of litigation; which translates to about 7,021 properties. An attorney from

Banks win out after the Supreme Court ruled on Monday. They state that homeowners cannot rid themselves of a second mortgage by filing for bankruptcy protection. All nine Supreme Court justices unanimously agreed that filing for Chapter 7 bankruptcy will not void a junior mortgage lien. This is when the amount owed by the senior

According to a study by RealtyTrac, March had an increase of foreclosure activity, reversing months of declines. February had 4,577 filings in the tri-county area. But, during March the foreclosure activity, that is, filings went up to 6,329 for the tri-county area. The filing counts as a repossession, a judgment, or a new foreclosure lawsuit.

Personal bankruptcy petitions have dropped 16 percent between February and March throughout South Florida. This is according to the Sun-Sentinel with data that the U.S. Bankruptcy Court released in March in Miami. In February, South Florida residents filed 2,389 new bankruptcy petitions; but only 2,008 files in March. Personal bankruptcies have lowered by 32 percent,

A 35 percent decrease in new foreclosure filings notable in Broward and Palm Beach counties. This shows how the improving economy and higher home prices are benefiting homeowners. In February 2014 Palm Beach County had 342 new filings, in February 2015 only 223. Last year Broward County had 690 new filings in February but in

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

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.

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

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

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