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Underwater Mortgages in Florida: No Easy Answers and No Government Relief in Site

The Sun Sentinel published an excellent overview of the current crisis for many Florida homeowners today in a piece written by Paul Owers, entitled “Homes bought five years ago the hardest to sell.”  Owers covers the situation that many property owners...

State Attorney Generals Settlement With Banks – How are the Homeowners Helped Here? They’re NOT.

The attorneys general of all fifty states banded together last October to form a united front in the investigation into widespread foreclosure fraud in this country.  Now, their efforts are being made public, as it’s being announced that proposals are in place...

Are Banks the Reason for Failing Loan Modifications? Another Foreclosure Paperwork Problem with Florida Lenders.

In today’s Sun Sentinel, reporter Diane C. Lade exposes yet another paperwork problem for Florida lenders:  in an article entitled, “Lawyers say they’re forced to cancel mediations when lenders hold back disclosures, ” Lade points out that many...

Bankers Warned to Think Twice Before Going After Deficiency Judgments After Last Week’s News of Overestimated Number of Strategic Defaults

Deficiency judgments are sometimes sought in lawsuits brought by banks when a home goes through a foreclosure sale and afterwards there is still an amount left owing on the mortgage note.  Being left with money still owed to the financial institution after already...