I have noticed over the past several weeks that suddenly everyone believes they can sit back and wait for the Attorney General's throughout this country to save their homes.
Homeowners that have been served with foreclosure actions are not even defending themselves waiting for this big settlement to happen. When people tell me this and I could just scream!
Reality Check…
This is not going to happen…
I'm not sure why everyone is under this assumption but several including Florida's Attorney General publicly stated that they oppose forcing banks to reduce loan amounts for struggling homeowners as part of a nationwide effort to right foreclosure wrongdoing, expressing their concerns about the "moral hazard" caused when loan principal reductions are awarded to select homeowners.
So if they oppose principal reductions how can their efforts possibly help the hundreds of thousands of Florida's homeowners who are so underwater they will never see a way out?
They can't… and when and if they do… it will be too little, too late!
The fact is that they simply don't have the authority to force the banks to help homeowners. This was again evidenced by a ruling on Friday when the 4th District Court of Appeals in siding with the Shapiro & Fishman law firm likely ended the state's current pursuit of subpoenas against other so-called "foreclosure mills," including the Law Offices of David J. Stern in Plantation. The court upheld an earlier decision stating that Florida's attorney general has no authority to investigate the Boca Raton-based foreclosure law firm under a civil unfair trade practices statute, an appeals court ruled Wednesday.
Personally I am very disappointed by the ruling, but if the attorney general can't investigate these law firms, how do we protect the public?
Let us not forget that that Attorney General Pam Bondi settled the investigation against the Marshall Watson law firm by agreeing to allow them to buy their way out for $2 million. And what was in it for the homeowners who were affected by the Watson Firms' actions, nothing!
And the Lenders, they're simply positioning themselves to cut a "Marshall Watson" deal of their own.
The clock is ticking…
If you are on the fence and waiting to see what the Attorney General or any other government agency is going to do to help you, you are setting yourself up for failure!
I encourage you to act now, before it's too late. My guess is that the banks are trying to get ahead of the Attorneys Generals and the civil law suits that are making their way through the system.
Once they do…
there will be another colossal wave of foreclosures.
The end is almost here… foreclosure delays are nearing their end; and it's going to be 'frightening'
Begin protecting your family today; Call the Carman Law Firm
at 1-800-763-0775 or email us at
info@carmanlegal.com, get answers you need and schedule an informative and free comprehensive consultation on how the Carman Law Firm can help you.
The Carman Law Firm can assist those in need of
debt and mortgage relief. With many options available and trusted answers to questions that someone might have about regarding
credit card debt,
short sales, loan modification,
foreclosure and
strategic default.