The Fair Foreclosure Act... Its anything but fair!

 

 Any plan designed to speed up the foreclosure process in Florida and uncork the bottleneck of paperwork jamming up the court system may sound like a good idea at first. After all, who wouldn't want to see the last several years of this foreclosure crisis become nothing more than a distant memory?

But just below the surface of a recent bill introduced in the Florida House of Representatives called "The Fair Foreclosure Act," and you'll find a plan that's anything but fair, at least for those facing foreclosure.

House Bill 87 allows third-party lien holders, such as homeowner associations, to direct foreclosures through an accelerated process rather than through a normal court proceeding required by Florida law.

But instead helping distressed homeowners, House Bill 87 basically strips them of basic legal rights. The bill acts sort of like plumber, pushing foreclosures through the drain and turning the legal system upside down.

Homeowners should be given their day in court before they are thrown out of their homes. Even criminals are innocent until proven guilty in the court of law

Florida State Rep. Kathleen Passidomo, who introduced the bill, would argue that it protects consumers by ensuring that banks and lenders prove they own a mortgage before they can file a foreclosure action. What she doesn't say is that the banks will be allowed to provide these certifications and the court will have to accept them as being truthful.

Also, to add insult to injury, they are only given 20 days to challenge the bank, hardly enough time to find a lawyer and track down other documentation to prove a wrongful foreclosure.

Missing documents, fraudulent assignments, fraudulent notaries, forged documents, are we really going to trust the same banks that fueled the foreclosure crisis by creating false documentation in the first place to do the right thing this time? Sadly, once again, lawmakers are looking to allow the fox to guard the hen house. If House Bill 87 passes, banks will continue to be allowed to get away with fraud, just as long as they are able.

If you are stuck in a situation like this or you are in the pre-foreclosure or middle of the foreclosure process contact Tina El Fadel, the head of the foreclosure division at KS Attorneys at Law directly at (561) 939-8042.

MIAMI - One of the highest Foreclosure areas in the Country

 



According to Realty Trac, the City of Miami is topping the list of the highest foreclosure rates in the nation. It seems that lenders are returning to their habit of pre-robo signing with record pace with regards to foreclosures.

Approximately 1 in every 79 houses in the Miami metro area had a foreclosure filing within the first quarter to start off 2013. That is 3 times higher than the national average and the highest among metro areas. Miami also topped Las Vegas which was ranked 4^th in the country for the most foreclosures, with approximately 1 in every 99 houses with a foreclosure filing.

In the state of Florida, 6 other metro areas have made the list for top 10 foreclosure areas in the country with Orlando at No. 2, with 1 in every 86 houses had a foreclosure filing. But filings since the first quarter have gone down on a year over year basis, according to Condo Vultures.

Condo Vultures have also noted that foreclosure actions have spiked by about 34 percent within the first quarter, but they were also down from the same periods in 2010. The state of Florida proposed a provisional moratorium on foreclosures until investigators took a look into allegations from mortgage services, attorneys and others signed foreclosure documents.  

Looking at data provided by Core Logic, the month of January has indicated a 3 percent drop in foreclosure rates for S. Florida on a year over year basis, this looks encouraging but this drop happens annually at the start of each year.

The good news is that the real estate market is working out its problem loans, but the bottom line still remains that workouts will continue for some time.

Cities with the most homes in Foreclosure

These are the 10 cities with the most homes in foreclosure:

10. Orlando-Kissimmee, Fla.

Foreclosurerate: One in 347 homes
Number of homes: 942,312 (24th most)
Foreclosures (April 2012): 2,717 (16th most)
Home price decline from peak: 54.2 percent (sixth largest decline)

9. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.

Foreclosure rate: One in 321 homes
Number of homes: 3,797,247 (third most)
Foreclosures: (April 2012): 11,840 (the most)
Home price decline from peak: 36.8 percent (12th largest decline)

8. Tampa-St. Petersburg-Clearwater, Fla.

Foreclosure rate: One in 315 homes
Number of homes: 1,353,158 (17th most)
Foreclosures: (April 2012): 4,295 (eighth most)
Home price decline from peak: 48 percent (eighth largest decline)

7. Phoenix-Mesa-Scottsdale, Ariz.

Foreclosure rate: One in 313 homes
Number of homes: 1,798,501 (12th most)
Foreclosures: (April 2012): 5,755 (sixth most)
Home price decline from peak: 56 percent (third largest decline)

6. Salt Lake City, Utah

Foreclosure rate: One in 309 homes
Number of homes: 410,031 (first least)
Foreclosures (April, 2012): 1,326 (23rd least)
Home price decline from peak: 19.3 percent (25th largest decline)

5. Atlanta-Sandy Springs-Marietta, Ga.

Foreclosure rate: One in 298 homes
Number of homes: 2,165,495 (ninth most)
Foreclosures: (April 2012): 7,271 (fourth most)
Home price decline from peak: 35 percent (14th largest decline)

4. Sacramento-Arden-Arcade-Roseville, Calif.

Foreclosure rate: One in 277 homes
Number of homes: 871,793 (23rd fewest)
Foreclosures: (April 2012): 3,147 (12th most)
Home price decline from peak: 54.7 percent (fifth largest decline)

3. Miami-Ft. Lauderdale-Pompano Beach, Fla.

Foreclosure rate: One in 273 homes
Number of homes: 2,464,417 (fifth most)
Foreclosures: (April 2012): 9,031 (3rd most)
Home price decline from peak: 54.2 percent (seventh largest decline)

The Miami metro region topped all  Florida regions in the number of newforeclosures. It also ranks third in new foreclosure rates among the 50 largest metros with 9,031 foreclosures in April, 2012 — a rate of one in 273. While foreclosures in the area decreased between March 2012, and April 2012, to the tune of 9.2 percent, the future appears gloomy. Prices in this region are forecast to fall another 3.8 percent between the fourth quarters of 2012 and 2013.

2. Las Vegas-Paradise, Nev.

Foreclosure rate: One in 249 homes
Number of homes: 840,343 (22nd fewest)
Foreclosures: (April, 2012): 3,378 (10th most)
Home price decline from peak: 61.8 percent (the largest decline)

1. Riverside-San Bernardino-Ontario, Calif.

Foreclosure rate: One in 213 homes
Number of homes: 1,500,344 (14th most)
Foreclosures: (April, 2012): 7,049 (fifth most)
Home price decline from peak: 56.6 percent (second largest decline)

Your home is generally your largest asset, which you have worked so hard to acquire and upkeep. There are many laws that have been created to protect your main asset, you home, but when it comes to failing to pay your mortgage, your equity line, Home Owner Association (HOA) fees, or mechanic liens, you place yourself into serious legal exposure that without repairing the delinquency, may ultimately end up in what is called, a Foreclosure. In the course of Foreclosure Proceedings or as part of Pre-Foreclosure negotiations, you have other avenues of potential relief available to you such as, Loan Modification should you want to attempt to resolve the loan and stay in your home, and Short Sale, should you desire to find a buyer and get out of there.

All of these services, Foreclosure Defense, Pre-Foreclosure Defense, Loan Modification and Short Sale along with Deficiency Judgmentsare available to you with signing one encompassing retainer with K/S, Attorneys at Law offering all civil remedies when it comes to resolving mortgage instruments on your home. These services are all defined and described in this section of the K/S, Attorneys at Law website, along with some invaluable information to assist you with making your decision with resolving any of these types of disputes.

The following sections will provide a description of services and information about the type of action and or remedy for which these legal terms apply. Most importantly, all consultations are free, so if you are not sure, or you want more information, never hesitate to contact our firm by phone, below form, or email as provided below.

ALL CONSULTATIONS ARE FREE, SO CALL US NOW FOR YOUR FREE, NO STRINGS ATTACHED CONSULTATION AT  (954) 956-7676, OR YOU CAN SUBMIT THE BELOW FORM, OR EMAIL US DIRECTLY AT, INFO@KS-LAW.COM

The Era of Short Sales Amongst us!!



Maybe you were not a believer the first time you heard the era of short sales are amongst us. It is easy for you to believe that banks were acting unreasonable when it comes to the process of foreclosure but Lender Processing Services have just presented the most convincing numbers which state that short sales are not just a dream for distraught borrowers. For the first time in the US, there have been more short sales in one month than there were foreclosures.

In the month of January, short sales made up about 24 percent of homes for sale, while foreclosure sales made up approximately 20 percent of homes for sale. In the previous year these percentages were flip-flopped with approximately 16 percent of sales came from short sales and about 25 percent of sales came from foreclosures.

There are many reason why the banks now prefer short sales over foreclosure sales, one reason is that foreclosed homes sell for approximately 29 percent less than non-distraught houses and properties whereas shirt sales sold for about 23 percent less.

The banks are starting to realize that a short sale is better for them; the truth is the banks do not want to own the properties, the cost of maintaining these properties are expensive and in turn the properties sell for significantly less.

For any questions about short sales, foreclosures or how to defend your foreclosure case call Tina El Fadel, the head of the foreclosure division at KS Attorneys at Law. There are many mistakes people make when going through foreclosure, don’t make those mistakes, call now for a obligation free consultation.

Zombies Attack Foreclosures in South Florida



Do you know about Zombie foreclosure attacks?

 Zombie titles occur after a homeowner defaults, but when a lender never follows through with the foreclosure. Although a mortgage loan servicer may notify a borrower in default that foreclosure proceedings have begun, the lender is under no obligation to continue with the process. When homeowners are given a foreclosure notice, many leave their properties because they believe they will be evicted. During this time, however, the borrower in default is still liable for the property, even though he or she no longer lives there and is not aware of the fact that he or she still owns it. Homeowners are legally liable for their home which means they are responsible for property maintenance costs, utilities, and taxes — all for properties they don’t realize they still legally own.

Tanya Marchiol, CEO of Team Investments, a real estate firm, said foreclosed homeowners cannot leave their house in shambles and expect the bank to pick up the pieces.“It is your responsibility to know what is going on with your house,” she said. “The bank can cancel the foreclosure and never tell the homeowner.”Borrowers must remember that their property is their responsibility until the title has changed hands into the banks.

The wave after the foreclosure crisis is still reverberating. According to a March 26, 2013 report by RealtyTrac, nearly 1.5 million U.S. properties are actively in the foreclosure process or bank-owned (REO) during Q1 2013. This rate peaked at 2.2 million in December 2010. Although they are frequent, zombie titles are preventable. One way is to avoid foreclosure entirely. Marchiol said distressed homeowners should short-sale their home instead of allowing the bank to foreclose on it. In the case of a short-sale, banks enlist real estate agents who oversee the home and ensure that it is maintained. In a foreclosure, there is no outside protection.

South Florida Foreclosures Decrease since 2012

 

 

There has been a downturn in foreclosure filings in South Florida. Since January of 2013, new foreclosure filings in the tri-county region of Miami-Dade, Broward and Palm Beach Counties, has decreased by approximately 3 percent.

 

As of the start of 2013, fourteen percent of outstanding loans in Miami-Dade County were in foreclosure. However, declines from January resulted in a 3.79 percentage-point drop in Miami-Dade. Mortgages that have been in delinquency for 90 days or more have also decreased by about 4.53 parentage points.

 

Broward County had approximately 11.42 percent of mortgages in foreclosure in January. From January 2012, this is a drop of 2.31 percent. Mortgage delinquencies have been reduced by 3.29 percentage points since the start of 2013.

 

Foreclosures in Palm Beach County also decreased in January to 10.3 percent; this is a reduction of 2.3 percentage points from last year.  In Palm Beach County, a reduction of delinquency mortgage loans also dropped by 3.14 percentage points from 2013.

 

The real estate market of South Florida is on its way to getting back on its feet. However, should you be in either pre-foreclosure or foreclosure, it is vital that you know your rights. Should you be looking for information about foreclosure or should you need help getting out of foreclosure or a loan modification, please do not hesitate to contact Tina El Fadel, the head of the foreclosure division at KS-Attorneys at Law.

 

How to stop harassing calls from Debt Collectors today!



 

 

If you are late, behind, or have stopped paying your bills or mortgage, a debt collector may be contacting you today.

 

The Federal Trade Commission (FTC) regulates Debt Collectors under the Fair Debt Practices Act (FDCPA). This act prohibits debt collectors from using, deceptive, abusive, or unfair practices in order to collect any outstanding balances.

To learn more about how to stop receiving harassing calls from debt collectors and for helpful tips about ending abusive phone calls, make sure to watch the attached video above of Simon Lassel, from K/S Attorneys at Law.

End your Foreclosure Headache Today!

 

 

 Enough is enough already! For the fifth month in a row, Florida has had the highest foreclosure rate in the country. According to Reality Trac, one in every 300 properties in the Sunshine State was in some stage of foreclosure in January. Florida also topped the U.S. with nearly 30,000 properties in the foreclosure process last month, this is a 20 percent increase from January 2012.

 

Now is the time to put an end to your forclosure headaches! If you are in the process of foreclosing, missed mortgage payments, or the bank has already seized your property, it is not to late. For an obligation free consultation call foreclosure Attorney, Tina El Fadel from KS-Attorneys at Law. Tina will answer any questions or concerns that you may have about foreclosure.

 

 

South Florida Foreclosure Tips

There are many useful foreclosure tips that one should know if you might have problem making payments on your house. Here are some tips and useful information:

1)    If you realize you might not be able to make a payment, contact and notify your mortgage company immediately.

2)    Make sure that all mail from your mortgage company is acknowledged and responded to the company.

3)    You should educate yourself about your rights as a homeowner; educate yourself on foreclosureprevention options as well as foreclosure laws in your county.

4)    Make sure to read all mortgage documents meticulously so that you can become familiar with all necessary steps that is required of you not being able to make a payment.

5)    Create a household budget to keep your daily spending in line, e.g.: cut cost on non essential items.

6)    Search for ways to make extra income either by selling non-essential items, or find additional work to help with additional income.

7)    Schedule an appointment with a housing counselor to review your unique situation and provide any assistance that is needed.

For further questions on foreclosure or foreclosure defense please do not hesitate to contact KS-Attorneys at law for your obligation free consultation at KS-Law.com or contact directly at 561-939-8042.

 

 

Foreclosures Rise in S. Florida! Here are some helpful tips...

   Oh the beautiful Sunshine State, Sunny South Florida beaches and the many attractions appeals many people to flock to South Florida. Excuse me, they’re not just flocking, they are sprinting to homes near you to snatch up the foreclosed homes in you neighborhood.  According to Realty Trac, “South Florida still ranks among the top 20 markets nationwide in which to purchase foreclosures this year.”

According to Real Trac, 7 counties spread throughout the state of Florida have made the list of “Top 20 Markets nationwide in which to buy foreclosures this year. These counties include Lakeland which landed No.5, Tampa-St. Petersburg at No.6, Jacksonville at No.7, Orlando at No.9 as well as Palm Beach, Broward and Miami Dade counties coming in at No.12 on the list. Realty Trac states that in Palm Beach County, 2,950 are waiting victims of the bank in 2013. They go on to say that, 1 in every 224 housing units in Palm Beach County are up for foreclosure.

Tina El Fadel, a foreclosure defense attorney at KS Attorneys at law states: “If properly defended a foreclosure case could take up to 2 years, but if ignored it will be considered a default and could result in one losing their home within 4 months”. Every foreclosure is unique , you are not without defenses. Florida is a judicial state which means that the bank has to prove they have the right to foreclose, this includes but not limited to the proper party being before the court as well as proper documentation.

For help with you foreclosure defense or would like more information about foreclosure defense, please contact KS Attorneys at Law at ks-law.com or call to schedule an obligation free, consultation at 561-939-8042. It’s not too late to stop your foreclosure case.

 

Judicial and Nonjudicial Foreclosure

In some states, particularly those where only judicial foreclosure is available, the constitutional issue of due process has affected the ability of some lenders to foreclose. In Ohio, the federal district court for the Northern District of Ohio has dismissed numerous foreclosure actions by lenders because of the inability of the alleged lender to prove that they are the real party in interest. In June 2008, a Colorado district court judge also dismissed a foreclosure action because of failure of the alleged lender to prove they were the real party in interest.

In contrast, in six federal judicials aspect and the majority of nonjudicial foreclosure states (like California), due process has already been judicially determined to be a frivolous defense. The entire point of nonjudicial foreclosure is that there is no state actor (i.e., a court) involved. The constitutional right of due process protects people only from violations of their civil rights by state actors, not private actors. A further rationale is that under the principle of freedom of contract, if debtors wish to enjoy the additional protection of the formalities of judicial foreclosure, it is their burden to find a lender willing to provide a loan secured by a traditional conventional mortgage instead of a deed of trust with a power of sale. The difficulty in finding such a lender in nonjudicial foreclosure states is not the state's problem. Courts have also rejected as frivolous the argument that the mere legislative act of authorizing the nonjudicial foreclosure process thereby transforms the process itself into state action.

In turn, since there is no right to due process in nonjudicial foreclosure, it has been held that it is irrelevant whether the borrower had actual notice (i.e., subjective awareness) of the foreclosure, as long as the foreclosure trustee performed the tasks prescribed by statute in an attempt to give notice.