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The Obama administration will extend mortgage assistance for the first time to real estate investors. That is to those who bought multiple homes before the market imploded. Landlords can qualify for up to four federally-subsidized loan workouts starting around May; as long as they rent out each house or have plans to fill them. This

The Federal Reserve Bank of New York posted a report on their website recently regarding student loans. The following is some of their findings: If you have questions about foreclosure, loan modification, bankruptcy, or other alternatives, please feel free to call my office at 954-484-9987. Or, send an e-mail to emil@fleysherlaw.com, or complete the contact

It has been five years since the housing market first began to crash and with many middle and working-class Americans still facing foreclosure; it may come as a surprise to know they’re not alone. Over 36,000 homes valued at $1,000,000 or more have been foreclosed on in 2011 alone. While this accounts for less than

The Consumer Financial Protection Bureau (CFPB) proposed rules to supervise large debt collectors and credit reporting agencies. The rule covers consumer debt collectors, including law firms, earning more than $10 million from the activity. This works out to 4 percent of consumer debt collectors; but about 63 percent of annual receipts from the debt collection

The banks that settled a nationwide probe of foreclosure practices last month will get a bonus from the deal. The bonus is protection for $308 billion of home-equity loans they hold. The banks that service about half the nation’s mortgages on behalf of investors will be able to share losses on their junior loans with

A bill to streamline the Florida mortgage foreclosure process has advanced in the House. Although, consumer critics said the measure might not leave homeowners time to respond to this Florida foreclosure notice before it goes before a judge. Furthermore, a major concern with the bill deals with the abandonment of property. In fact, homeowners who

Mortgage servicers said that they anticipate hardships from the $25 billion foreclosure settlement. The main problem for loan servicers is the discrepancy between the tight timeline that Fannie Mae and Freddie Mac set for servicers to foreclose on a loan and the now required additional time to negotiate loan modifications. Moreover, if a servicer doesn’t

Florida courts will allow correction of clerical mistakes, such as an incorrect party name, when the interests of justice require it. In the case of Lake Charleston Homeowners Association, Inc. v. Haswell, the attorney for the HOA named the wrong entity. In response, the association’s attorney took the position that the incorrect name resulted from

As outstanding student debt approaches $1 trillion, it’s one more reason record-low interest rates aren’t doing more to boost housing. The tighter lending standards that have emerged in the wake of the recession weigh particularly on younger, first-time home buyers. 9 percent of 29 to 34-year-olds got a first-time mortgage between 2009 and 2011; compared

The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures; inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely. Lenders slowed the pace of foreclosures as they negotiate the $25 billion settlement. With an agreement reached, banks are likely to resume property