Florida Officials Get An “F” In Foreclosure Law
Florida’s housing market is in shambles. There are over a million properties in the state that lie vacant in decaying neighborhoods afflicted with blight; but that’s not what you will hear from those who benefit from Floridians believing otherwise.
If you were to listen to developers and the local government officials they influence, one might think there aren’t enough houses for available buyers. One might think sales are up to a level not seen since 2006. Of course the dubious circumstances to which the housing market is now defined, is a shell game that makes data easy to manipulate and hard to fully comprehend. Read the rest of this entry
Florida’s Fair Foreclosure Act: It’s only fair until it’s your home
For the third time in the last three years, our elected officials introduced a bill designed to fast-track foreclosures in the state of Florida. With robo-signing and the filing of fraudulent documents still fresh in our minds, I wonder if making things easier for the banks, the ones who created this mess, is the best way to address the real problem. Read the rest of this entry
Title insurance is one of the more expensive elements of a home purchase or mortgage refinance and everyone hates paying for it. Some folks even argue that in today’s age of computer-stored records, title insurance isn’t really necessary. Unlike car insurance or home insurance, very few people know even a single person who has collected on a title insurance policy. However, the robo-signing scandal and the explosion of mortgage fraud make it clear that–given the reliance on computer data–title insurance is more necessary than ever. Read the rest of this entry
Last February, Florida Attorney General and 48 other states entered into a settlement agreement with five of the nation’s largest mortgage servicers: Bank of America, Citibank, JPMorgan Chase, Wells Fargo, and Ally/GMAC. Their liability stems from their systemic abuse of the foreclosure process as well as inappropriate mortgage-servicing practices. Read the rest of this entry