Foreclosures Get a Reprieve During the Holiday Season

Christmas Palm Tree.jpgWhile many loan servicers, and banks, were experiencing increasingly more difficulty in moving their foreclosures forward due to shoddy paperwork, “robo signing”, and faulty legal process, many of them are nonetheless temporarily halting all foreclosure evictions during the holidays. Moreover, some South Florida courts are even canceling foreclosure related hearings and foreclosure sales until after the holidays.

Fannie Mae and Freddie Mac have halted foreclosure evictions during the Christmas and New Year’s holidays. As for Bank of America, it will also halt all foreclosure sales and evictions during the holidays on all loans in its portfolio or held by investors who will allow such a moratorium.

Broward County has canceled all scheduled foreclosure auctions through the end of the year. Moreover, all foreclosure hearings scheduled during the holidays must also be re-scheduled.

While no such order has been issued in Miami-Dade County, long standing tradition, and custom, holds that foreclosure evictions and foreclosure sales will not take place during the holidays. Indeed, the next scheduled foreclosure sale in Miami-Dade County is scheduled to take place on January 3, 2011.

Today’s current real estate market, and ongoing foreclosure crises, presents all sorts of issues that must be properly navigated. There are many factors contributing to Florida’s nation leading delinquency rates. They include a weak job market, weak economic recovery, and a major drop in home prices. Consequently, Florida’s housing market remains unsettled in large part due to the continued foreclosure crises.

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