Help For Homeowners – Page 6 – Miami Real Estate Attorney Blog

New Rules Imposed in an Effort to Eliminate Fraud during the Loan Modification Process

Fraudsters often target those who find themselves in difficult financial situations. During the ongoing foreclosure crisis we have seen scammers take advantage of people by promising help with loan modifications. Now, the Federal Trade Commission is intervening to prevent the public from becoming victims in loan modification scams.

Loan modifications are currently a haven for fraud. If you feel as though you have been victimized by mortgage fraud, don’t despair. Our Miami mortgage fraud lawyers will carefully evaluate the facts and legal issues in your case. If we believe that you are a fraud victim, we are prepared to aggressively represent you in fighting for your rights and seeking justice in the legal system. If you are a victim of fraud, we will use our legal experience to stand up for your rights. We want to help you keep your home.

Loan modifications are currently a haven for fraud. Many fraudsters make every attempt to make themselves look completely legitimate. They will give themselves names that look like federal foreclosure intervention programs such as “Making Home Affordable” or “Home Affordable Modification”. Some scammers even go so far as to use photos of President Barack Obama or the seal of the United States in order to promote their scams.

However, effective January 1, 2011, the Federal Trade Commission (FTC) has adopted new rules to prevent homeowners from falling prey to loan modification scams. Under the new rules a loan mod agency cannot accept up-front payments. Further, they also must implement mandatory disclosure rules. For example, mod agencies will be required to make clear that they are not connected with a government agency or program. Also, they will have to disclose that you’re free to reject any offer from the lender without having to pay the agency a fee.

The FTC believes that fake modification agencies have stolen millions of dollars from homeowners who are severely delinquent or deeply underwater in the past two years. Sadly, as the federal government has broadened its efforts to establish legitimate foreclosure relief programs the amount of fraudulent schemes has risen. So far, the FTC has brought more than 30 cases against these operations. With these new rules, the FTC will have finally have a way to control the widespread advance-fee requirements.
—–
EXTENDED BODY:
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.

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.

Florida Ranks No. 1 Nationally in Mortgage Fraud

Recent figures reveal that Florida ranks first in the nation as it relates to those whose mortgages are seriously delinquent. But that is not the only dubious distinction where Florida tops the nation. Now, reports indicate that Florida can also claim first place in the number of mortgage frauds.

If you feel as though you have been victimized by mortgage fraud, don’t despair. Our Miami mortgage fraud lawyers will carefully evaluate the facts and legal issues in your case. If we believe that you are a mortgage fraud victim, we will aggressively represent you in your case against the predatory mortgage lender — fighting for your rights and seeking justice in the legal system. If you are a victim of mortgage fraud by a bank or mortgage lender, we will use our legal experience in real estate and mortgage fraud to stand up for your rights. We want to help you keep your home.

According to MortgageDaily.com, which tracks criminal and civil cases across the country, Florida has the highest third quarter score on its Mortgage Fraud Index. The website gave Florida a fraud index score of 143. This easily surpassed numbers two and three on the list. Coming in second place is California with a score of 100. New York is in third place with a score of 70. In terms of real dollars, there were $110 million in mortgage fraud accusations levied in Florida.

Many of the mortgage fraud busts have happened in South Florida, and specifically in Miami. Some of these busts were frauds which were perpetrated with false loan applications and in other cases involving straw buyers. In some of these cases both mortgage brokers and title agents were picked up in these busts, and many attorneys have even lost their ability to practice law in Florida as a result of the rampant fraud.
—–
EXTENDED BODY:
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.

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.

What Are Your Rights In Foreclosure? Can You Save Your Home? Seek the Aid of a Foreclosure Defense Lawyer Today.

When you are facing foreclosure, you may feel powerless. A mortgage foreclosure is a frightening experience, especially if you are currently unemployed or have dealt with some other life altering factor in your life that has left your finances in ruin.

Yet, you have rights and options. At the law firm of Alvarez & Barbara, LLP, we stand up for your rights — and your home. Explore your options, protect your rights. Contact our Miami foreclosure defense attorneys for a free consultation.

Helping You Assert Your Rights

Asserting your rights will not only give you the chance to save your home; it may also increase the amount of time that you have in your home. You may also have many alternatives available to potentially avoid foreclosure.

Consider these rights that homeowners have during foreclosure:

• You have the right to be notified of the foreclosure. Lenders must give you written notice that they plan to foreclose on your home.

• You have the right to stop foreclosure by paying off all of the past due amounts you owe on your home mortgage.

• You have the right to discuss the foreclosure with your mortgage company. If you are unable to pay what you owe on the house, you may be able to negotiate alternative payment options (a loan workout/loan modification).

• You may be able to privately sell your home to pay back mortgage debt. However, selling your home may not discharge the remaining debt you owe on the home (if it sells for less than you may need to pay back the loans).

• You have a right to contest the foreclosure process. Did the mortgage company properly notify you? Is there evidence of predatory lending?

• If your home is sold, you have a right to any money that comes of the sale that is not necessary to pay back your mortgages and late fees.

• You have a right to hire an attorney. Sometimes, the best defense against foreclosure is a Miami foreclosure attorney.

The current real estate market, and ongoing foreclosure crises, presents all sorts of issues that must be properly navigated. Our Miami foreclosure defense lawyers have assisted many parties 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.
—–
EXTENDED BODY:
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.

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

Florida Appellate Court Vacates Foreclosure in a Powerful Ruling that Will Aid Miami Foreclosure Defense Lawyers to Keep Fighting the Banks on Behalf of Struggling Homeowners

In a powerful ruling, the Fourth District Court of Appeal recently concluded that banks must prove that they hold the mortgage to the home facing defaults. The Appellate court opined that a Judge in Palm Beach committed reversible error when the Judge allowed the bank to repossess a couple’s home when the bank failed to provide a copy of the original note and mortgage prior to the judge’s ruling on the merits of the case.

In so ruling, the appellate court vacated the Judge’s ruling and sent the case back to the original Judge with a clear message to find out who actually owns the mortgage at issue.

The Fourth District Court of Appeal specifically stated that “without evidence demonstrating [the bank’s] status as holder and owner of the note and mortgage, genuine issues of material fact remain, and summary judgment was improper.”

This significant ruling comes on the heels of growing news reports in Florida, and across the country, that foreclosures are being pushed through by the banks without proper, or, in some instances, fraudulently prepared, documents and paperwork. This is especially true in many Florida courts that have adopted “rocket docket” systems with the sole purpose of rapidly pushing foreclosures through the court system in an effort to get them out of the court house without undergoing the necessary judicial scrutiny to protect many innocent but struggling homeowners.

The current real estate market, and ongoing foreclosure, and housing, crises, presents all sorts of issues that must be properly navigated by a struggling homeowner. 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.

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.

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

Miami Judge “Frustrated” Over Foreclosure Cancellations

Previously, we have discussed on this blog the suspension of foreclosure proceedings due to possibly faulty affidavits and dishonest court filings. Many would agree its probably a good thing that some banks with dubious filings have decided to take a step back and verify that everything they have filed is true and honest. Of course, this has further slowed down foreclosure proceedings. A greater backlog has been created by the fact that lenders, such as Bank of America, JP Morgan Chase, and GMAC continue to cancel foreclosure auctions.

Bloomberg is reporting that Circuit Judge Jennifer Bailey in Miami-Dade County finds the cancellations “frustrating”. Judge Bailey, who is managing a backlog of 80,000 foreclosures, set up a system in Miami-Dade County to help clear up the backlog. She also chaired a Florida Supreme Court task force in 2009 charged with addressing the large volume of foreclosure cases in the state’s courts.

Her frustration is a result of the fact that banks are cancelling foreclosures on a daily basis. On October 26th, Judge Bailey said that 20 foreclosure auctions were canceled in front of one judge because the affidavits needed to be reviewed.

According to Bank of America, it has completed a review of its foreclosure procedures and it will “shortly” begin resubmitting affidavits in judicial foreclosure cases. GMAC, on the other hand, is still in the process of reviewing cases to determine whether there are problems with its system.

In light of the fact that Attorney Generals in all 50 states, including the US Attorney General’s Office, are investigating lender practices in the foreclosure process, there are definitely legitimate concerns about how honest the banks have been. Certainly, while this slowdown may be frustrating to some, it would be more frustrating for a single homeowner to lose their home due to a lender who decided it was proper to submit false documents. Fraud upon the courts should never be allowed, and the banks should not be permitted to continuously commit fraud upon our courts.
—–
EXTENDED BODY:
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.

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

Wells Fargo Foreclosures Move Forward Despite Damaging Testimony by Their “Robo Signers”

Recently, lenders such as Bank of America, JP Morgan Chase and Co., and GMAC have halted foreclosures after they discovered their employees were signing affidavits without verifying any information.

As we have all ready discussed on this blog, many employees were signing hundreds of affidavits a day without verifying any information whatsoever. This practice has become known as “robo signing.”

Consequently, “robo signing” has called into question countless foreclosure proceedings in Miami, and across the country. Luckily, some banks are exercising due caution and suspending foreclosures in order to verify already signed affidavits. However, Wells Fargo is not one of these banks. At least not yet.

A Wells Fargo employee testified in a deposition in March that she signed about 300 to 500 foreclosure documents per day and would only verify her name and title. Wells Fargo will not stop foreclosures and says that it has not discovered any problems with the legal documents that have already been processed despite this testimony.

Although they claim their foreclosure affidavits are accurate, this is the second Wells Fargo employee to admit to improperly signing affidavits. In May, an employee admitted that he verified only the dates on up to 150 documents per day and relied on co-workers to ensure the accuracy of the rest of the information.

The recent disconcerting news about unverified bank documents is certainly a call for homeowners to contest foreclosures, even those which have already been completed. JP Morgan has set aside $1.3 billion in the third quarter to cover legal expenses, including foreclosures. JP Morgan initially halted foreclosures in 23 states, but is now extending their review to 41 states. As a result, JP Morgan Chase will have 115,000 cases under review.

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.

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

“Robo Signers” Taint Foreclosures in Miami and Beyond Further Highlighting the Need to Consult with a Miami Foreclosure Defense Lawyer

This is what some of the nation’s largest banks said to their newly hired “foreclosure experts”: Hurry up and sign those legal papers and don’t even bother to look at them. Sign them as fast as possible and don’t ever stop signing. Just sign sign and sign some more.

That was the mandate handed down by many of the major banks when they started hiring hair stylists, floor workers, assembly line workers, and others with no formal training in real estate or mortgages and labeled them “foreclosure experts.” Their job? To sign as many “papers” as possible, and in the fastest amount of time, in an effort to speed through foreclosures. These new found “foreclosure experts” were asked to complete their job in times faster than world class sprinter Usain Bolt takes to break world records.

This practice has become known as “robo signing” and has called into doubt thousands of foreclosures nationwide, including right here in South Florida.

Struggling homeowners should contact our office to meet with one of our Miami foreclosure defense attorneys today. As the revelations of improper “robo signing” continues to increase, those who are in danger of losing their home to a foreclosure should examine the situation, with the aid of one of our attorneys, in greater detail. The problems the banks are presently experiencing as a result of the “robo signing” allegations arise in large part as a result of foreclosure defense attorneys bringing to light the systematic fraud routinely committed by the banks, their employees, and their law firms.

In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in “foreclosure expert” jobs with no formal training.

The current “robo signing” crises is likely to prolong the housing depression for at least another few years. The allegations are opening the entire chain of foreclosure proceedings to legal challenge. Some foreclosures could be overturned. Others could be deemed illegal. All the more reason to consult with a foreclosure defense attorney today to assess your legal rights.

Though some have chalked up the foreclosure debacle to an overblown case of paperwork bungling, the underlying legal issues are far more serious. Yes, swearing that you’ve reviewed documents you’ve never seen is a legal offense, and one that should not be taken lightly. But at the center of the foreclosure scandal looms something much larger: the question of who actually owns the loans and who has the right to foreclose upon them. The paperwork issues being raised as a result of the “robo signers” has the potential to blight not just the titles of foreclosed properties but also those belonging to homeowners who have never missed a mortgage payment.
—–
EXTENDED BODY:
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.

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

Prominent South Florida Foreclosure Law Firm Profits from the Foreclosure Crises Despite Allegations of Fraud

Unfortunately, many South Floridians are familiar with the name David J. Stern. Some South Floridians cringe at the sight of his name. Foreclosure attorney David J. Stern operates one of the largest law firms representing lenders and servicers throughout the foreclosure process.

While the average American has cut their expenses and boosted savings due to slower economic times, the Law Offices of David J. Stern has experienced massive growth cashing in on the housing crisis. Started in 1994, the Law Offices of David J. Stern posted $199 million in revenues in 2008 and $260.3 million in 2009.

Recently, Stern found a new way to cash in on the housing crisis. He sold the firm’s foreclosure processing arm, which makes the court documents needed in foreclosure proceedings, to a publicly traded company. The operation was sold for a total of $146 million to DJSP Enterprises which started trading on the NASDAQ in January. Stern is the chairman and CEO of this new company that has his law firm as its only client.

Although the cash may be flowing in, everything is not well for Mr. Stern. The law firm is facing an inquiry by the Florida Attorney General’s Office for allegedly falsifying documents on behalf of lenders and a RICO law suit claiming attorneys filed fraudulent pleadings.

Practitioners in the foreclosure defense bar worry that DJSP will give greater priority to profits, rather than ethics. As many critics have pointed out: This is a profession, not a fast-food joint. Lawyers have a larger responsibility not to be expedient but to do quality work, to do good for society as a whole. We cannot lose sight of that.

We have been successful in defending many foreclosure cases when given an opportunity to develop a plan to properly defend the foreclosure. The Miami lawyers at Alvarez & Barbara, LLP, are on your side. We are experienced trial attorneys who will help you understand your rights and options under Florida and federal foreclosure laws.

Consider Your Options. Contact Us.

For a free consultation with a Miami lawyer familiar with the local real estate market, contact Alvarez & Barbara, LLP, today. We represent clients in Miami, Homestead, Hialeah, Coral Gables, and throughout South Florida.

Light at the End of the Tunnel – South Florida’s Foreclosure Crises May be Improving, but Foreclosures Continue to Mount

It appears that the South Florida real estate market may have entered a new phase. According to news reports, banks are repossessing foreclosed homes at a faster rate, but fewer homes are falling into delinquency.

In August, the rate of bank repossessions increased 96.7 percent compared to the same time last year. Meanwhile, foreclosure filings have dropped 52 percent. This means that additional inventory is still going up for sale, which means there is still downward pressure on prices and home values. Moreover, some areas are actually seeing prices rise for the first time in years. Specifically, the Brickell real estate market is seeing slight increases in values currently.

The Miami lawyers at Alvarez & Barbara, LLP, are on your side. We are experienced trial attorneys who will help you understand your rights and options under Florida and federal foreclosure laws. Contact our law firm today for a free consultation and case evaluation.

This mixture of good and bad news makes it difficult to determine exactly what state the current real estate market is actually in. It could possibly mean that the first stage of the foreclosure crises has reached a peak. Year after year, foreclosure activity across South Florida has declined. Nevertheless, the foreclosure problem is still in the way of any substantial region wide recovery. South Florida is currently experiencing one foreclosure filing for every 111 homes, the fifth highest ratio in the country.

Many experts believe that we are hovering somewhere near the bottom. We only hope that this is true as many don’t expect the overall market to bottom out for another three years.
—–
EXTENDED BODY:
Consider Your Options. Contact Us.

For a free consultation with a Miami lawyer familiar with deeds in lieu of foreclosure, contact Alvarez & Barbara, LLP, today. We represent clients in Miami, Homestead, Hialeah, Coral Gables, and throughout South Florida.

Miami Foreclosure Defense Tips: Deed in Lieu of Foreclosure

Do you face foreclosure? Would you like to dispose of your home? There are many alternatives that should be explored to help avoid a foreclosure. A deed in lieu of foreclosure is one of the alternatives that you should consider.

What Is a Deed in Lieu of Foreclosure?

A deed in lieu of foreclosure is a legal instrument that allows you to voluntarily give your house or condo back to the bank in exchange for cancellation of your mortgage. In other words, your deed is transferred from you to the bank in an effort to shorten the lengthy and costly process of foreclosing on your home.

In many cases, banks may reserve the right to bring a deficiency action against debtors to collect the difference between the amount they receive from sale of the home and the amount owed on the mortgage. Therefore, take time to talk with a lawyer experienced in Florida real estate law before choosing this option.

Selling Your Home to Escape Foreclosure

A deed in lieu of foreclosure is an option to consider when you would like to stop foreclosure and be released from the debt you owe. It does not affect your credit as significantly as foreclosure and may even lead to a better, negotiated settlement than you could obtain through foreclosure.

In order for you to sign over the deed to your home in lieu of the bank foreclosing on your loan, your mortgage company must voluntarily agree to it. In some cases, banks will only accept a deed if your mortgage debt is more than the current value of the property. However, a deed in lieu of foreclosure is almost always a better option for lenders because it allows them to avoid the expensive and time-consuming foreclosure process.

Our attorneys will help you initiate the process by sending a letter to your lender. Then, we will negotiate an agreement with your mortgage company that meets your current financial needs.
—–
EXTENDED BODY:
Consider Your Options. Contact Us.