Florida Mortgage Modification Lawyer Blog

If you are one of the many Floridians that took out a second mortgage during times when home prices were on the rise, this entry is for you. I have met with many homeowners, especially in Southwest Florida, that are paying on two or more mortgages when their home value does not exceed the first mortgage. In these circumstances, a Chapter 13 bankruptcy may be able to help.

In a Chapter 13 bankruptcy, where the value of the home does not exceed the first mortgage, a Motion may be made to declare the second mortgage an unsecured non-priority debt, placing it in the same position as a credit card or other unsecured non-priority debt to be discharged. For example, where a home has a current value of $100,000, with a first mortgage balance of $150,000 and second mortgage value of $50,000, subsequent to the filing of a Chapter 13 bankruptcy petition, a Motion may be made to “strip” the $50,000 second mortgage, relieving the homeowner of that debt, allowing the homeowner the opportunity to focus on paying the first mortgage.

Continue reading "Can I Strip a Second Mortgage Off My Home?" »

Recently, the Honorable Anthony Rondolino, a Circuit Court Judge in Pinellas County, Florida stated at a hearing in a mortgage foreclosure case:

"I don't have any confidence that any of the documents the Court's receiving on these mass foreclosures are valid."

Judge Rondolino's comments were made while considering whether to reverse his prior decision on granting a summary judgment on behalf of the mortgage company and against the homeowner.

This comment and the recent case law coming out of the Florida's Second District Court of Appeal makes this writer extremely happy.

At the end of last year, the Florida Supreme Court entered an Administrative Order on Mediation in an attempt to help homeowners save their homes.

Judge Rondolino also commented:

"You know what I'd really like to see? I'd like to see in one of these cases where a defense lawyer cross-examines, take a deposition of these people, and we can see whether they ought to be charged with perjury for all of these affidavits. I would just love to see that, ..."

What the Judge was getting at was the mass production of affidavits not based on personal knowledge and submitted to the Court by the lenders in support of the foreclosure.

We recently had a similar case where GMAC Mortgage pursued a foreclosure case only to find out later that they never owned or held the note. Shocking!

There will be more to come on this as the Court System is Fed Up with Fraudulent Documents. Hopefully, the next time I will write with a case about Sanctions against a lender for producing fraudulent documents.

Continue reading "The Judges Are Getting Ticked Off At Fraudulent Documents" »

Ladies and Gentlemen:

A bill was introduced by Florida Senator, Dave Aronberg, which would make mediation an option in mortgage foreclosure cases where the foreclosure is against a homestead.

Here is the story:

Continue reading "Mediation of Foreclosures One Step Closer" »

The Dellutri Law Group is in the process of starting another Consumer Law Blog focusing on the Federal Fair Credit Reporting Act. Our Fair Credit Reporting Act Blog can be found at:

www.faircreditreportingactblog.com

When you have a chance, please check it out and provide us with your feedback? It should be active in 7 to 10 days. The Fair Credit Reporting Act Blog will focus on all aspects of Credit Reporting.

Please send any and all comments to eetnoyer@dellutrilawgroup.com

Thank you for your assistance, and remember, we are here to serve the people of Southwest Florida. So please help us help you.

Continue reading "New Fair Credit Reporting Act Blog By Dellutri Law Group" »

The Good News is that new home sales are up across the nation. The Bad News is that Cape Coral, Fort Myers, Lehigh Acres, Port Charlotte and Naples real estate is still in the toilet. May and June 2009 reports indicate that some people are capitalizing on lower interest rates, deflated prices and the Obama incentive of $8,000.00 for a first time home buyer. However, it is not happening here.

In these hard hit areas, new construction is just a blip on the meter. Sales are starting to grow, but the majority of those sales are short sales, which actually crush the home values for the surrounding property owners.

The good news is that while foreclosures have not stalled, they have slowed a little. Why is this good news? Well, I'm glad you asked. It is good news because short sales are eating more inventory than is coming on the market. So, to put it another way, with homes being sold faster than foreclosed homes are coming on the market, it means less inventory out there. Less inventory means the market will slowly turn from a buyers market to a sellers market, which means demand goes up. Wow, this takes me way back to Economics Class at Edison Community College.

Now, the question is: When will Cape Coral, Lehigh Acres, Fort Myers, Port Charlotte, and Naples become sellers markets again. The answer for that question is harder to come by than than winning lottery numbers. But, as always, I will keep you posted on anything interesting.

This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog. Mr. Dellutri also writes for the firm's bankruptcy blog.

Many people in Fort Myers, Lehigh Acres, Cape Coral, Naples, Port Charlotte, and Sarasota are finding themselves making one of the hardest decisions of their lives. Whether they should keep their current home, which may have between $50,000 to $100,000 in negative equity, or should they surrender their homes and rent for a year or two. There are many considerations which need to be resolved before making this decision.

Continue reading "Renting a Home in Fort Myers, Cape Coral, Lehigh and Surrounding Communities " »

The Federal Government wants to pay the mortgage companies to help consumers complete Short Sales and Deeds in Lieu of Foreclosure. Recently, the Obama Administration has set more taxpayer money aside to provide an incentive to banks and mortgage companies to help consumers. Call me silly, but didn't the Federal Government pass legislation which asked the banks and mortgage companies to do this over the past several years. I guess when the Federal Government asks you to do something, you don't really have to do it until they pay you to do it.

So now mortgage lenders like Wells Fargo and Bank of Americawill be paid to help consumers. Is anyone else seeing through the bologna here. This is just another stimulus to help the banks and mortgage companies on the backs of the American Consumer (i.e. you and me). Where are the guidelines on these plans? Did the Federal Government just give a blank check to the mortgage companies and banks?

Continue reading "Government Wants To Pay Banks To Do Short Sales and Deeds In Lieu" »

Attorney John Webb recently joined the Dellutri Law Group as an associate attorney. John will be practicing in the consumer law section of the firm defending foreclosures and other consumer law cases. John will also be bringing causes of actions on behalf of consumers against creditors who violate consumer protection laws. John will be working closely with Shannon Houk, Esq, and Carmen Dellutri, Esq. in pursuing the needs of our clients.

Continue reading "Attorney John Webb Joins Dellutri Law Group" »