Florida Foreclosures – What’s Happening Now?

Posted By on September 3, 2014

Update on what we are seeing now with Florida foreclosures and related issues –

1. Foreclosure filings have remained steady in the last few weeks – this is based upon the number of calls we are receiving and on the number of lis pendens being filed, per week, in Broward County Public Records – (Broward County is the 2nd largest County in Florida by population) – In the last 2 weeks the number of foreclosure filings has averaged 230 per week.

2. Florida Deficiency Filings – In light of the passing of the July 1, 2014 deadline, there has been a reduction in the number of deficiency judgment cases filed by Dyck O’Neal  – however, a lot of homeowners still have yet to be served (due to homeowners  either having moved out of state or having never lived in the State – banks are required to personally serve the lawsuit upon the former homeowner). Banks have 120 days to serve their lawsuits but are permitted to extend this deadline. See:

3. Foreclosure Defenses – 2 questions we often hear from clients relates to lost promissory notes and the 5 year statute of limitations.  See:

4. Foreclosure News – Bank of America entered into a $16.65 billion settlement agreement with the Department of Justice to resolve federal and state claims against the bank, including Countrywide and Merrill Lynch. As part of the settlement, (Read the press release here) the bank has agreed to pay a $5 billion penalty and provide billions of dollars of relief to struggling homeowners, including funds that will help defray tax liability as a result of mortgage modification, forbearance or forgiveness.

Picture of Larry Tolchinsky

Do you have questions or comments? Then please feel free to Chat with Larry in the comments below, at info@hallandalelaw.com, or (954) 458-8655. If you have a specific or personal situation, please call or email Larry because he can’t answer specific fact questions in general comments.

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