Blog Posts in February, 2011
Posted on Feb 28, 2011 By Admin
An Internal review finds 4,000 cases in judicial foreclosure states, especially Florida, had improper documents. An internal review of SunTrust Banks Inc.'s foreclosure practices found that thousands ...
Continue reading "SunTrust Acknowledges Document Problems" »
Posted on Feb 23, 2011 By Admin
The office of the Florida Attorney General has opened an investigation into Ben-Ezra & Katz, a Hollywood law firm that processes thousands of foreclosures for lenders, on allegations of presenting ...
Continue reading "Florida's Attorney General opens probe into eighth foreclosure firm" »
Posted on Feb 21, 2011 By Admin
A court-initiated foreclosure mediation program in Florida has a somewhat spotty track record after releasing results from the first four-month mediation cycle. Foreclosure mediation programs are ...
Continue reading "Foreclosure mediations in Florida fail to produce quick results" »
Posted on Feb 21, 2011 By Admin
"In yet another sign that times are tougher for Plantation foreclosure attorney David Stern, he is looking to unload luxury assets worth tens of millions, including two estate properties on Hillsboro ...
Continue reading "Foreclosure attorney Stern selling Hillsboro Beach estate properties - and perhaps a superyacht" »
Posted on Feb 21, 2011 By Admin
“Going forward, the bank is accepting FHA loan applications from borrowers with credit scores as low as 500, though they must come up with a 10 percent down payment and sport a maximum debt-to-income ...
Continue reading "Wells Fargo Lowers Credit Score Requirement for FHA Loans" »
Posted on Feb 21, 2011 By Admin
The criminal cloud hanging over the founder and former chief of Countrywide Financial Corp. has been lifted -- though that could change if ongoing civil litigation reveals new facts. Behind the ...
Continue reading "Former Countrywide Chief Escapes Criminal Prosecution " »
Posted on Feb 21, 2011 By Admin
LPS says the states with highest percentage of non-current loans last month were Florida , Nevada, Mississippi, Georgia, and New Jersey. After several months in which the nation's volume of ...
Continue reading "6.92 million Residential Mortgages Past Due or in Foreclosure" »
Posted on Feb 20, 2011 By Admin
As more than $113 billion worth of home equity has vanished from South Florida's housing market in the past five years, the number of homeowners with mortgages that are larger than the values of their ...
Continue reading "The Curse of Negative Home Equity" »
Posted on Feb 18, 2011 By Admin
Florida has the nation's highest inventory of homes in distress, accounting for nearly one out of every four foreclosure properties in the country , according to data released Thursday by the Mortgage ...
Continue reading "Florida’s foreclosure rate is the highest in the nation" »
Posted on Feb 16, 2011 By Admin
Fannie's Action Leads to Hundreds of Layoffs Fannie Mae's decision last week to terminate a Florida law firm that has handled more than 18,000 foreclosures has left hundreds of employees out of work. ...
Continue reading "Ben-Ezra & Katz gives notice to half of its 568 employees " »
Posted on Feb 12, 2011 By Admin
A day after federal mortgage giant Fannie Mae fired the prominent law firm of Ben-Ezra & Katz, a Miami judge found the firm's founding partner, Marc Ben-Ezra, in contempt of court for filing ...
Continue reading "Ben-Ezra held in contempt over 'Fraud' in foreclosure filing" »
Posted on Feb 11, 2011 By Admin
Federal mortgage giant Fannie Mae has cut ties with a second South Florida law firm handling its foreclosure cases, requiring an immediate transfer of those files to other attorneys and likely causing ...
Continue reading "Fannie Mae fires second South Florida law firm" »
Posted on Feb 9, 2011 By Admin
Florida leads the nation in most non-current loans , along with Nevada, Mississippi, Georgia, and New Jersey. It's quite evident that the foreclosure backlog is growing , as 2.1 million mortgages are ...
Continue reading "Foreclosure Inventory Continues To Increase" »