Category: ‘Foreclosures’

Debt Collection Law Firms Must Follow FDCPA in Foreclosure Cases

March 7, 2018 Posted by kingcade

A federal judge has ruled that debt collection law firms are now subject to the rules of the Fair Debt Collection Practices Act in mortgage foreclosure cases.  The Fair Debt Collection Practices Act (FDCPA) was designed to help prevent creditor abuse and harassment.

U.S. District Judge Timothy J. Savage of the Eastern District of Pennsylvania denied a motion by law firm Phelan Hallinan Diamond & Jones seeking to dismiss plaintiffs Tina Collins and Glendale Walker’s FDCPA claim, which alleged the firm failed to cease all collection activity before verifying the debt after the plaintiffs first disputed it.

According to the judge’s opinion, the plaintiffs alleged that the foreclosure complaint and Phelan Hallinan’s response to their notice of dispute “contained false and misleading representations thru [sic] deceptive means in an attempt to collect a debt.’” In addition, Collins and Walker claimed that the firm threatened to proceed with the foreclosure action without first verifying the debt.

The plaintiffs also claimed that the firm falsely represented itself as counsel to Wells Fargo, leading Collins and Walker to believe that Phelan Hallinan was a part of Wells Fargo’s legal department.

“Foreclosure, although legal in nature, is ‘activity undertaken for the general purpose of inducing payment,’” Savage said. “A debt collector cannot avoid FDCPA liability simply by proceeding in rem rather than in personam. Therefore, for purposes of this action, Phelan was acting as a debt collector and engaged in debt collection activity when it communicated with the plaintiffs and filed the foreclosure action.”

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

 

Florida Ranks in the Top 10 for Highest Foreclosure Rates

February 6, 2018 Posted by kingcade

Even with economic improvement, Florida ranked among the top 10 states with the highest foreclosure rates in 2017, despite the number of foreclosures dropping by 45% compared to 2016. Last year in Florida there were 24,215 foreclosure proceedings filed, compared to 43,772 in 2016, according to ATTOM Data.

Here are the states with the highest foreclosure rates in 2017:

  1. New Jersey (1.61 percent of housing units with a foreclosure filing);
  2. Delaware (1.13 percent);
  3. Maryland (0.95 percent);
  4. Illinois (0.86 percent);
  5. Connecticut (0.78 percent);
  6. Florida (0.72 percent);
  7. South Carolina (0.70 percent);
  8. Ohio (0.70 percent);
  9. Nevada (0.67 percent);
  10. New Mexico (0.63 percent).

Florida ranked among the top states with the highest number of legacy foreclosures on loans originated between 2004 and 2008. Miami-Dade County ranked among the highest number of legacy foreclosures in the nation. The top counties were: Nassau County (Long Island), New York (6,782); Cook County (Chicago), Illinois (5,478); Kings County (Brooklyn), New York (4,677); Miami-Dade County, Florida (3,804); and Suffolk County (Long Island), New York (3,417). In the fourth quarter of 2017, Florida also ranked near the top of all states with the longest average time to foreclose, on average 1,493 days.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

 

Millions Left Unspent after State Ends Federal Foreclosure Aid

February 1, 2018 Posted by kingcade

This week Florida closed its three largest Hardest Hit federal housing-aid programs, years early- leaving $88 million unspent.  This closes three opportunities for struggling homeowners, which includes: mortgage help for the unemployed and underemployed, aid on delinquent home loans and mortgage principal reduction.

Florida’s Hardest Hit program helped only about half the number of the approximately 100,000 Floridians who applied since it launched in 2010. The program was troubled from the start, with “technical issues” such as rolling out with crashed computers and an eight-month delay to get approved.

Compared with 17 other states that were part of the program, Florida had the lowest admission rate, even though Florida had one of the most severe home-price corrections in the nation, according to a 2015 federal report.  The delayed disbursement of money from the program has not gone unnoticed and has drawn criticism.

“It’s criminal,” said one Florida resident, who tried unsuccessfully to apply for the funds. “I had all my ducks in a row but could not get through on the phone. I ended up standing in their lines, but there was no follow-up. It was a complete waste of time.”

Another Florida applicant said, “They put me through the ringer. They were so rude, so ugly. I tried so many times. I got turned down so many times. It was just totally ridiculous.”

U.S. Rep. Darren Soto, D-Orlando, said the money approved during the Obama administration could have been deployed quickly to help speed up Florida’s recovery from the crash and save families from foreclosure.

“Unfortunately, Governor Scott and Republican legislators dragged their feet for years in getting the FHFC [Florida Housing Finance Corporation] to deploy significant funds and various assistance programs, undermining the effort and stifling its effectiveness,” Soto said. Though the state has moved toward recovery, it remains one of the few yet to rebound fully, according to data from the National Association of Realtors.

Sen. Bill Nelson, D-Florida, has consistently called for investigations into Florida’s oversight of the federal spending program.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

 

Foreclosure Filings Drop Sharply in South Florida

January 22, 2018 Posted by kingcade

During the 2007-2009 recession, South Florida was at the top of the list for most foreclosures.  However, in 2017 South Florida ranked No. 21 for the highest foreclosure rate among the nation’s metro areas.  Foreclosure filings dropped 37.9 percent in South Florida during 2017, according to Attom Data Solutions.

There were 20,019 properties with foreclosure filings in South Florida during 2017, or one in every 124 houses. The rate was higher in Miami-Dade County at one in 110 houses, followed by Broward County at one in 127 houses, and Palm Beach County at one in 149 houses.

Nationally, foreclosures were down 27 percent in 2017 and were at the lowest level since 2005, according to Attom. The metro regions with the highest foreclosure rates in 2017 were Atlantic City, New Jersey; Trenton, New Jersey; Philadelphia; Fayetteville, North Carolina; and Rockford, Illinois.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

 

31 Million Americans Believe They Will Never Get out of Credit Card Debt

January 16, 2018 Posted by kingcade

Credit card debt is at an all time high and according to a recent study 31 million (or 35%) of Americans believe they will still owe credit card debt when they die. Americans’ with outstanding credit card debt jumped 13% to $1.02 trillion in November.  Another 33% of consumers with credit card debt do not know when they will be debt free.

Getting out of the debt cycle begins with creating a realistic budget and getting a grasp on your current financial situation.  There are specific ways you can deal with high interest credit card debt.   Once you examine your budget and identify areas you can cut back in spending you can successfully put a plan in place to tackle high interest credit card debt.

If you have any questions on this topic or are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

Related Resources:

https://www.usatoday.com/story/money/personalfinance/budget-and-spending/2018/01/13/paying-off-credit-card-debt/1023310001/