In an attempt to clean up careless legal mistakes and incomplete documentation submitted by attorneys in foreclosure cases, the Florida Supreme Court recently enacted a new law that requires the attorney or bank filing a foreclosure to verify that the allegations and paperwork are accurate when a residential property is at stake. A majority of the paperwork filed up to this point has been submitted incomplete or with careless mistakes made, resulting in time and resources being wasted by the courts.
This issue is of particular importance in South Florida, where it seems many homeowners can’t seem to catch a break when it comes to foreclosures. According to recent numbers from RealtyTrac, foreclosures in South Florida have grown 71 percent in the first quarter compared to the same time frame in 2009. These continuing problems with the foreclosure process could affect the speed at which the housing market recovers, slowing the process of reselling properties and stabilizing the market.
However, a stand still has occurred recently in these cases. The attorneys of large foreclosure firms are choosing to ignore the ruling, claiming the decision from the Supreme Court states “not final,” while Florida judges and defense attorneys fight for the section of the decision that states “shall become effective immediately upon the release of this opinion”. Well, that opinion was released back in February.
The bottom line for South Florida homeowners, who are in the middle of this, is when a foreclosure is filed: Do NOT just hand over your property. Rather, make sure the bank or lender retaking your home has the proper paperwork to show for it. Finally, hire an experienced attorney. 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, P.A. Web site at www.miamibankruptcy.com.
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