Miami Real Estate Attorney Blog

Even though the foreclosure king, David J. Stern, has shut down his offices, Florida is still feeling the effects of his alleged wrongdoings. Because Stern shut down his office, yet didn't formally withdraw as the attorney on all of his files, about 100,000 cases are basically stuck in the system.

Now, Stern is being compared to owners who walked away from their properties because they were no longer profitable and without worrying how it affects those around them. Judges are quite upset because of his informal withdrawal from cases.

In Florida, an attorney who represents a party in a lawsuit must request leave from the court in order to formally withdraw. Without a court order approving the withdrawal, an attorney stays on the record as counsel for that party. In other words, while facing allegations of fraud, Stern is basically disrespecting the judicial system once again.

Stern's actions are only going to further delay the housing recovery. Because the banks are moving to dismiss many of Stern's former cases, it could take months, possibly years, before a bank decides to re-file suit. All the while, empty homes will remain vacant, condo associations will have to continue taking losses due to delinquent units, and many will continue to live rent-free for much longer.

At Alvarez & Barbara, LLP, we've had to deal with cases where Stern has informally "withdrawn". It's not easy. It makes representing your client extremely difficult because it's impossible to speak to an attorney who is prosecuting the foreclosure. However, we've developed strategies to get things moving if that is in our client's best interests.

Consider Your Options. Contact Us Today.

We have been successful in defending many foreclosure cases when given an opportunity to develop a plan to properly defend the foreclosure.

Our Miami foreclosure defense lawyers have assisted many homeowners in buying enough time to reach the solution that is right for them. There are many alternatives to foreclosure, and often times it just takes proper planning to properly navigate against the potential pitfalls. Help is often available to those who seek it.

If you are on the brink of foreclosure, need a real estate attorney, or just need to assess your legal rights, please contact our office today.

Call us today toll free at 1-866-518-2913 or at 305-263-7700.

In response to allegations of robo signing, fraud, documentation errors, issues with process servers, problems servicing loan modifications, and other similar issues, the Federal government has passed new regulations to curb further wrongdoing. Regulators say the changes represent major reforms that affect nearly every American homeowner with a mortgage.

The federal government forced banks and mortgage servicers to hire outside firms to review their foreclosure policies and procedures. Many banks were falsifying foreclosure documents, improperly notarized affidavits and told homeowners they had to be in default in order to qualify for a modification. Also, many law firms representing lenders helped their clients commit fraudulent acts.

As a result of the regulations, servicers agreed to do the following: (1) provide homeowners with a single point of contact when dealing with the servicer, (2) increase supervision of law firms handling their work, (3) create a remediation process for homeowners who believe they have been treated unfairly, and (4) not to foreclose on modified loans that are not delinquent.

Many consumer groups feel that the regulations have no bite and are calling for further reforms. For example, the latest regulations still allow lenders to start the foreclosure process while a homeowner is attempting to modify their mortgage.

Even though many believe these new reforms are too weak each state's attorney general is pursuing tougher regulations. In light of the widespread fraud, more needs to be done to protect American homeowners. Let's hope that the states are able to pass regulations that directly address the wrongdoings and severely punish those that take advantage of Americans who are simply having a tough time making ends meet in this tough economy.

Even though regulations are forthcoming they may still not provide sufficient safeguards. However, an experienced foreclosure attorney can provide that safeguard. If you are facing foreclosure, don't hesitate to contact Alvarez & Barbara, LLP so we can safeguard your rights and ensure your lender is playing by the rules.

In Miami home sales are up, but across America sales are down. According to the latest reports, less Americans purchased previously occupied homes in February. Those who did purchase these homes bought them at extreme discounts. Because of the weak sales and continuous rise in foreclosures, home prices have reached their lowest level in nine years.

However, these sad numbers are not true across the country. For example, although prices have dropped 18.6% since last year, sales have jumped 46.4% during the same time period.

As these figures show, we are still deep in the housing recession. The biggest hurdle to a recovery is the massive amount of unsold homes on the market. Experts believe that at the current pace of home sales, it would take about 9 months to sell all the homes which are currently on the market. However, this doesn't take into account the fact more and more homes are entering the market on a regular basis.

But even these figures do not fairly represent the market because of shadow inventory - homes that are in the early phases of the foreclosure process, but have yet to be placed for resale. Also, the suspension of many foreclosures due to the robo-signing scandal is slowing down foreclosures which slows down repossessed homes from being placed on the market.

In addition to the foreclosures, sales are bogged down by lenders who are currently less willing to provide mortgage loans. Buyers are also deterred from buying homes because of high unemployment rates, job insecurity, and worries that home prices will continue to drop.

Consider Your Options. Contact Us Today.

Our Miami foreclosure defense lawyers have assisted many homeowners in buying enough time to reach the solution that is right for them. There are many alternatives to foreclosure, and often times it just takes proper planning to properly navigate against the potential pitfalls. Help is often available to those who seek it.

Even in a good market, real estate can be intimidating. With the current state of the market, real estate is even more intimidating. Its often the best decision to hire experienced counsel to help you navigate the intricacies of the real estate market. Whether you're making a purchase, facing foreclosure, or trying to recover your deposit from a condo purchase, Alvarez & Barbara, LLP has the experienced know-how to tackle all of your real estate needs.

Call us today toll free at 1-866-518-2913 or at 305-263-7700.

In order to deal with the various problems plaguing Florida's real estate market State lawmakers are trying to tackle these issues in this year's legislative session. Florida's housing woes are very well known throughout the nation. This crisis has created issues with condo associations and affordable housing.

Here are some of the changes our lawmakers are considering:

Associations

In the last legislative session, the Florida legislature passed a law that allows condo associations to collect rent directly from the tenants of delinquent owners. It also allows associations to ban delinquent owners from using the common elements of a condominium such as a pool or gym.

However, associations are still in distress because paying unit owners must subsidize and carry the burden for those who are delinquent. As a result, legislators are considering a bill that would allow associations to cut off amenities such as cable and water that are paid for using association fees.

Would such a law help distressed condo associations? Its certainly possible, but a definite way to help condo associations would be to speed up the foreclosure process. Banks have been accused of delaying foreclosures on condos. They do this waiting for associations to foreclose on liens so that associations are stuck footing the bill for past-due association fees.

Foreclosures and Affordable Housing

The federal government is considering scrapping a handful of its foreclosure prevention programs, so some legislators feel that Florida needs to step up to the plate to address the side effects of the widespread foreclosures. One of these side effects is the shortage of affordable housing. Accordingly, the State is considering pumping money into vacant and abandoned homes and rental apartments rather than on new construction.

However, the most controversial of the foreclosure-related bills is a proposal which would give banks and lenders the option of conducting commercial foreclosures outside of court rooms. While this bill would certainly free up dockets for residential foreclosures, there should be a concern that due process provided by courtroom foreclosures is still guaranteed in extra-judicial foreclosures.

This same bill was proposed last year, and rejected by our law makers.

The proposed bill would allow banks to skip legal proceedings all together unless the homeowner requested that the foreclosure go through the legal system. Such a bill would only further the struggles many homeowners are experiencing by significantly shortening the foreclosure process thereby making it more difficult to save the home.

Of significance, the proposed bill would allow homeowners to go to court, and avoid the non-judicial foreclosure process, only if they make a request within the first 20 days of the foreclosure process. That particular provision is indicative of the importance of immediately contacting our office upon receipt of any foreclosure related papers so as to best assess what options you may have to defend the foreclosure.

Consider Your Options. Contact Us Today.

We have been successful in defending many foreclosure cases when given an opportunity to develop a plan to properly defend the foreclosure.

Our Miami foreclosure defense lawyers have assisted many homeowners in buying enough time to reach the solution that is right for them. There are many alternatives to foreclosure, and often times it just takes proper planning to properly navigate against the potential pitfalls. Help is often available to those who seek it.

If you are on the brink of foreclosure, need a real estate attorney, or just need to assess your legal rights, please contact our office today.

Call us today toll free at 1-866-518-2913 or at 305-263-7700.