After a brief respite, the foreclosure storm is again raining down on Volusia and Flagler counties. December saw an enormous increase in foreclosure activity compared with the previous month, and both counties rank in the top five in foreclosure rates in Florida. Monthly activity — default notices, auctions and repossessions — increased almost 240 percent …
Category Archives: Legal
Banks lose pivotal Massachusetts foreclosure case
U.S. Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’ highest court Friday that will guide lower courts in that state and may influence others in the clash between bank practices and state real-estate law. The ruling drove down bank stocks. The state Supreme Judicial Court upheld a judge’s decision saying two …
Continue reading “Banks lose pivotal Massachusetts foreclosure case”
Mortgage mess: Worried your bank may go after your other assets if you’re in foreclosure?
Worried that your bank might go after your other assets if you’re late on the mortgage or lose your home to foreclosure? It can happen in Florida, especially if a bank sells your foreclosed house and doesn’t recoup the full loan amount and if you’re a big-dollar borrower. With nearly half of all mortgages under …
Florida homeowners who don’t pay get lengthy stay
The average Florida homeowner who went into foreclosure in November hadn’t paid his mortgage in 10 months. The 307-day delay between the first late payment and a foreclosure referral, reported in a study released this week, was called "flabbergasting" by one financial expert who said mortgages typically go to foreclosure by the third delinquent payment. …
Continue reading “Florida homeowners who don’t pay get lengthy stay”
Rob Samouce: Condo and HOA members and employees have more privacy rights » Naples Daily News
Some of the more overlooked changes to the laws affecting condominium and homeowners’ associations that were enacted by the 2010 legislature were the new privacy rights given to members and employees of associations. For condominium associations, the following information about unit owners in the possession of the association are not accessible to unit owners: “Medical …
Housing Distress Pits Neighbor Against Neighbor
Few things agitate Sid Schulman, who often shoots the breeze with other retirees and flirts with women friends at their condominium complex here. But it galls him when neighbors stop paying their mortgages and maintenance fees, and leave the cost of community upkeep to others. "I am paying for these guys," said the 75-year-old sitting …
Continue reading “Housing Distress Pits Neighbor Against Neighbor”