Tag Archives: foreclosure
Foreclosure’s ripple effects can last for years
It goes without saying that foreclosure is generally something that should be avoided if at all possible. Whatever your reasons for getting to the point where you could lose your home — excessive credit card debt, the fallout from a divorce, or the loss of a job — in many cases, finding a way… Read More »
Bank of America fined for Orange County mortgage abuse
The $9.3 billion settlement between major banks and the federal government was supposed to provide aid to homeowners in the struggling economy. The agreement was meant to protect them against the types of abusive foreclosure activities lenders were practicing with the “robo-signing” scandal and other actions. But some Florida consumers, judges, and bankruptcy lawyers… Read More »
Old law makes squatting tempting for some Florida residents
A U.S. law hundreds of years old may be a tempting option for some enterprising Floridians hoping to gain ownership of abandoned properties. With the highest foreclosure rate in the nation, hundreds of homes facing foreclosure are being abandoned, possibly for years, while banks go through the process of repossession. The law of adverse… Read More »
Florida homeowners associations going after banks for back fees
Florida abounds with empty homes that have been foreclosed on due to homeowners who have filed for Chapter 13 bankruptcy or who have had trouble making their mortgage payments. This has resulted in a surprising turn of events in which homeowners associations are faced with lenders not maintaining the vacant properties they’ve taken over… Read More »
Personal bankruptcies decrease in Florida for 2 straight years
Personal bankruptcies have fallen throughout parts of Florida for the second year straight. Financial challenges continue to be a difficult issue nationwide since the housing market collapsed in 2007. In Florida, foreclosure activity is still the highest in the country, so many experts in bankruptcy law aren’t sure why there is a decrease in… Read More »
Florida’s foreclosure rate remains highest in the country
With foreclosures jumping 20 percent in November from this time last year, and 3 percent in October, Florida is the nation’s leading state for foreclosures and foreclosure-related activity. The California data firm RealtyTrac states that the real estate recovery over the next year will probably be slow, as homeowners seeking debt relief are forced… Read More »
South Florida banks allowing more non-foreclosure short sales
Increasing numbers of banks are approving short sales before homes go into foreclosure in Broward County, according to a recent RealtyTrac survey. As more homeowners are facing foreclosure, more and more lenders are willing to help some people unload their homes before they foreclose. This can be a source of relief to those facing… Read More »
Florida bankruptcy case filings may increase again
The mortgage crisis of 2008 and the recession and flood of defaults and foreclosures that resulted have left a great deal of wreckage across the landscape in Florida. And nowhere is that damage more obvious than in bankruptcy court. That economic crisis triggered by the real estate bubble has left a backlog of cases… Read More »