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