SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT LAWYER South Florida, particularly Miami and Broward counties are experiencing a wave of lawsuits with banks and investors targeting unpaid, defaulted second mortgages and HELOC’s. Many borrowers have been paying their first mortgages through either loan modifications or other settled terms. However, often the second mortgages were ignored or left out… Read more »
So, the Third District Court of Appeal has finally reached a decision in the Deutsche Bank v. Beauvais case, and it is not favorable to borrowers. the Court sided with Lenders in prolonged foreclosure cases. In essence, the Opinion by the Court of Appeals allows lenders to pursue foreclosure cases, even after the 5 years after nonpayment… Read more »
REAL ESTATE ATTORNEY MIAMI Qualified homeowners in Miami-Dade County are now eligible to receive an interest-free loan of up to $35,000 to cover the down payment of their first home. The program is for any individual making less than $95,620 a year, a couple making less than $109,200, a three person household making less than… Read more »
Anytime a mortgage is taken out on a property, the borrower pledges the property as collateral for the loan. As part of the mortgage terms, the borrower is then required to maintain property insurance including hazard, wind, and often times flood insurance, covering the property. The amount of the coverage is usually determined by the amount of the… Read more »
SECOND MORTGAGE LOAN SETTLEMENT LOSS MITIGATION DEBT SETTLEMENT ATTORNEYS The Florida Legislative Foreclosure Act, while helping the banks out more than the borrowers, did one positive thing. It limited the time period when a bank can go after a borrower for the balance of the mortgage after the foreclosure. This is called the deficiency. The… Read more »
METLIFE HOME LOANS has agreed to settle its claims on its mortgage lending violations for $123.5 million. Metlife Home Loans’, a mortgage finance company out of Irving Texas, violations stem from allegations that it violated lending regulations that contributed to the mortgage foreclosure debacle. Under the False Claims Act, Metlife is being held accountable for… Read more »
In the midst of this crisis and the unknowns that lie ahead, many real estate buyers are looking to get out of real estate contracts. Many calls this week pertained to the clause in the real estate contract that is labeled “Force Majeure.” This term, translated means “superior force”, that is a force beyond your… Read more »
FLORIDA REAL ESTATE and TITLE ATTORNEYS The National Association of Realtors said Monday that its pending home sales index rose 0.9 percent to 112.6 last month. That is an increase over the past 12 months of 10.4 percent, which places the sales at just below the April 2006 level, right before the market collapsed. Market… Read more »
SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT LAWYER SECOND MORTGAGE – LINE OF CREDIT – HELOC SETTLEMENTS A HELOC, also known as a Line of Credit Mortgage or Second Mortgage is often “charged off” or appears on a borrowers credit report as “bad debt” or “charge off”. Often, borrowers wrongly assume that the mortgage is then completely… Read more »
