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Fleysher Law Blog

foreclosure activity

South Florida Had An Increase Of Foreclosure Activity In March

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. Broward County was at the top of the tri-county area with 3,169 foreclosure filings during

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Personal Bankruptcy Petitions

Personal Bankruptcy Petitions Drop in March

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, dropping from the 2,969 filed in March 2010. This drop shows that consumers are handling

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foreclosure filings

February Shows Major Improvements for Foreclosures

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 2015 there have only been 448 new filings. However, Florida still has the third-highest foreclosure

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Home-Equity

Reset of Loans Causes Increase in Home-Equity Payments

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 number of new defaults. This is due to the new monthly bills increasing an

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David Cassidy

‘70s Pop Star Files 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. Judge Raymond Ray is in charge of the case. The estimation of Cassidy’s assets and

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Foreclosure

No Foreclosure If No Default Notice Received

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 broke the camel’s back came from the mailing address to which the notice of default

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Mortgage

When Mortgage Transfers Go Awry

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 the unanimous panel “In this foreclosure puzzle, one of the pieces is missing”. In fact,

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Rental Properties

Landlords Gain As Demand For Rental Properties Increase

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 up more young people are about to leave their parent’s homes and start their lives.

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Bankruptcy Attorney

Bankruptcy Attorney Suspended for Overcharging Clients

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. Mazzei $1,000 upfront when they met at his Tarentum office in Pennsylvania. The bankruptcy court

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zombie foreclosures

Florida “Zombie” Foreclosures Are The Highest Throughout The Nation

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, Illinois, Indiana, New Jersey, New York, North Carolina, Maryland, Ohio, and Pennsylvania. This kind of

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