Florida Mortgage Modification Lawyer Blog

This is Part II of this Article. Click here to read Part I.

While the clearance rate of foreclosure cases improved from 40% to 78% in 2009 based on the policies implemented in Lee County, at what expense were these cases resolved? With so many lenders coming out admitting their wrongdoing in foreclosure filings, I’m curious to know how many people wrongfully lost their homes in the blink of an eye. How many of these homeowners, who may have suffered temporary financial setbacks, could have been able to work something out with the banks if they were just given a little more time? I think we would all be surprised at the number.

Continue reading " The Foreclosure Case Is Set For Trial ? Part II " »

On January 7, 2010 the Massachusetts Supreme Court issued a foreclosure ruling that has allready had far reaching effects from Wall Street to Main Street. In reaching its conclusion that the Plaintiffs (mortgage company) did not conduct a proper foreclosure sale due to deficiencies in the chain of title, the Court brought additional scrutiny to the mortgage epidemic and the inability of lenders to show that the operated with even the most basic of accepted practices in their frantic attempt to generate revenue at the expense of the American homeowner.

Continue reading " Foreclosure Decision By Massachusetts Supreme Court Could Effect Florida " »

We all know about the thousands of foreclosure cases that are being pushed through the courts at record speed these days in Southwest Florida.

But what is actually happening to all of these homes? What we would like to think is that the homes are being sold either at the foreclosure sales or very shortly thereafter, to deserving homeowners who need an affordable place to live in this down economy. We’d like to think that this whole process, although tough on those that are losing their homes, is still in the overall best interests of our community’s economy in general. It is getting people back on their feet, improving the economy, and ultimately creating more jobs so that our beautiful slice of paradise can recover, right? I’m not so sure about that.

Continue reading " What Are Banks Thinking About Foreclosures? " »

In part one of this blog I discussed why a short sale is better than a foreclosure. What can one do to try to avoid having to experience this nightmare? Short Sale the property! A successful Short Sale can result in a win-win scenario for all parties involved. A Short Sale is an opportunity for the Mortgagor to try to prevent any version of the foreclosure nightmare while trying to actively mitigate the losses for all involved. A successful Short Sale handled by a Real Estate Attorney may result in the Bank or Lender releasing the lien of the Mortgage and also canceling (forgiving or writing off) the Promissory Note and providing a full release of their deficiency judgment rights. The best outcome of a Short Sale is the issuance of a 1099C which will be discussed in future blogs.

Continue reading " Is A Short Sale Better Than A Foreclosure Part II? " »

Southwest Florida Courts are cramming more time into the day in order to speed cases along the rocket docket. A quick look at the schedule for just one judge on February 3, 2010 reveals that it will be the longest day of the year, never mind the summer solstice. Currently there are 100 non-jury trials set for 15 minute hearings starting at 8:30 am. Additionally starting at 1:00pm there are an additional 99 non-jury trials set for 15 minute hearings.

Continue reading " Lee County Florida Judge Crams Fifty Hours Of Non-Jury Trials Into One Day " »

A recent prediction is that mortgage foreclosures will continue to rise in 2011. It is estimated that 1.2 million homes will be foreclosed upon. That is quite a few homes after several years of outrageous numbers of homes in foreclosure already. It makes you wonder:

Why hasn't Congress done anything to Stop Foreclosures?
Why haven't the States done anything to protect it's citizens?
Why haven't more homeowners fought to save their homes in foreclosure?

The biggest concern for me is: The whole mortgage modification disaster could be solved very simply by allowing homeowners to cram down their first mortgages on their homesteads.

Yes, more people would have to file for bankruptcy, but so what, we would be saving homes, clearing up debt problems and putting everyone, including this Country back onto the road to recovery.

There are some things in life that I will never understand.

Continue reading " Foreclosures Are Expected To Rise in 2011 " »

New Jersey Superior Court Judge Mary Jacobson is requiring some of the nations largest lenders and servicing companies to clean up their foreclosure acts. Last month, the Judge chastised JP Morgan Chase, Bank of America and GMAC's Ally Financial for shoddy practices and ordered them to prove that they have cleaned up their acts. A copy of the Order is linked here. A hearing scheduled for January 19, 2011 was pushed back until February 14, 2011 so the parties could discuss a possible deal.

Continue reading " Judge Mary Jacobson Agrees To Let The Mortgage Companies Explain Shoddy Practices " »

The question: Is a Short Sale better than a Foreclosure? has been getting quite a bit of attention lately. I continue to be amazed at the number of potential clients, with whom I have the privilege of meeting, who tell me their accountant advised them to just let the house go. Others tell me they know somebody, have a good friend, or a coworker who has provided their opinion (gained through naive experience I guess) on this topic.

The consistent theme of the opinions are “just leave the house; walk away from it; why would you want to stay in the home when you owe almost twice as much as it is worth and you may die before you’ll ever make a profit on what you thought was a smart way to spend/invest your money”.

Continue reading " Is A Short Sale Better Than A Foreclosure Part 1? " »

On a beautiful sunny morning in Southwest Florida, one particular courtroom in the Lee County Justice Center was buzzing with the chatter from attorneys preparing for the 74 non-jury foreclosure trials set for that morning. Each trial was set for 15 minutes.

Have you ever met an attorney who could say anything in 15 minutes? How about 148 attorneys talking for about 7 ½ minutes each? That is what our judicial system has allotted for the plaintiff to attempt to prove their case and the defense to put on their case, should they decide to do so. As an attorney that likes to try cases, the thought of 74 trials is quite stimulating! However, I also know it takes a little bit longer than 15 minutes to present a case to a judge. So, what is getting done in these 15 minutes? And why the rush? What else can happen to your foreclosure case?

Continue reading " The Foreclosure Case Is Set For Trial ? Part I " »

Foreclosure trials are becoming a more common phenomenon in Lee County. A Bench Trial (before a Judge - Not a Jury) are the direct by-product of Lee County’s docket soundings system. In order to move foreclosure cases through the courts at a swifter pace, Lee County implemented a system using docket soundings, whereby any property in foreclosure is placed in the system and a docket sounding is held about every two months.

Continue reading " Foreclosure Case Set For Trial? " »

Attorney Annette Giardina Haber joined The Dellutri Law Group, P.A. as a Real Estate Attorney several months ago. She will be preparing a series of Blogs dealing with the following topics:

1. Is a Short Sale better than a Foreclosure and why?
2. What professionals should help through the Short Sale Process?
3. What is the best result of a Short Sale?
4. Is a Short Sale a bad thing?
5. Are there any Banks or Lenders that are worse, better, easier or more difficult than others?
6. What are the statistics on Short Sales?
7. Why should a Short Sale be pursued?
8. Is a Real Estate Agent necessary in a Short Sale?
9. Four categories of Loss Mitigation Options.
10. How long does the Short Sale Process take?
11. DO NOT just “hand over the keys” to the Bank!
12. Where else can literature or authority on Short Sales be found?
13. I have a great plan, I am going to walk away from my house and move to another state! NOT!
14. Do I need to call a Real Estate Agent or can I consult with a Real Estate Attorney first?
15. Why should I use a Real Estate Attorney in my Short Sale?
16. What happens if the Bank or Lender starts the foreclosure process while proceeding through the Short Sale process?
17. There are so many advertisements about loss mitigation options, why should I consider the Dellutri Law Group?

If you have any questions that you would like to see addressed, please feel free to contact me at 239-549-0900 or via email: aghaber@dellutrilawgroup.com

This Blog was written by Annette Giardina Haber, Esquire, of the Dellutri Law Group, P.A. Ms. Haber runs the Firm’s Real Estate Department and concentrates her practice as a real estate transaction attorney. She represents clients through loss mitigation options, drafts contracts, issues title insurance and handles residential and commercial closings.

Have you tried to modify your mortgage? Are you tired and frustrated of the process? For those of you wondering why your lender/servicer is not working with on your mortgage, don’t worry, it’s not you, it’s them. The sad fact of the matter is lender/servicers are not doing much for anyone. Nothing proved this point to me more until I read an article about a foreclosure in Ohio by JPMorgan Chase Bank against a Cuyahoga County court judge.

Continue reading " Mortgage Modifications – Helpful Hints To Help You Succeed " »

The term Short Sale has become increasingly too familiar in today’s modern vocabulary due to the down turn in the real estate market. You most likely will not find a definition of Short Sale as it is used today in the latest printed editions of the Merriam-Webster, Oxford English, American Heritage or Webster Dictionaries. The reading of the online Webster Dictionary definition, origin 1865 - 1870: “sale of securities or commodity futures not owned by the seller (who hopes to buy them back at a lower price) provides insight as to the traditional meaning of the term. Dictionary.com defines Short Sale as a noun: “an act or instance of selling short”. Although Banks and Lenders understood and rarely utilized the concept, this definition is more in line with the term’s relevance in society today as it relates to real estate.

Continue reading " What Is A Short Sale? How Do Short Sales Work? " »