Posts Tagged: ‘Miami foreclosure’

Wells Fargo Accused of Making Improper Changes to Mortgages

June 20, 2017 Posted by kingcade

A new class action lawsuit accuses Wells Fargo of making unauthorized changes to home loans held by customers in bankruptcy.  The changes, which typically lowered monthly mortgage payments, appeared to benefit borrowers at first- but the details reveal the changes would extend the terms of the borrowers’ loans for decades, which means they would have monthly payments for far longer and owe the bank much more.

Any change to a payment plan for a person in bankruptcy is subject to approval by the court and the other parties involved.  But according to the lawsuit, Wells Fargo went ahead and made these changes to the home loans without such approval.

This puts borrowers in bankruptcy at risk of defaulting on the commitments they have made to the courts and could make them vulnerable to foreclosure. According to court documents, Wells Fargo has been putting through these un-requested changes to borrowers’ loans since 2015.

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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 website at www.miamibankruptcy.com.

Miami–Dade has Second Highest Rate of Repeat Foreclosures in the Nation

May 17, 2017 Posted by kingcade

Miami-Dade County has the second-highest rate of repeat foreclosures of any major market, according to a newly released report from Attom Data Solutions.  New York City took the number one spot.

Miami-Dade’s rate was 32 percent, followed by Los Angeles County with 39 percent and Maricopa County (Phoenix), with 26 percent, according to Attom’s April 2017 report.  New York’s rate was 54 percent.

A repeat foreclosure is defined as a foreclosure start filed in 2016 on a property with an address and owner’s last name combination that also showed a previous foreclosure start with the same property address and owner combination in the last 10 years, according to Attom.

Nationwide foreclosure activity in April dropped to the lowest level since November 2015. Miami-Dade saw its foreclosure rate fall 35 percent in April, year-over-year, to 986 foreclosure filings from 1,509 filings in April 2016.

Miami-Dade’s rate of foreclosures still remains higher than Broward County, which had 730 and Palm Beach County 578 in April.

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 website at www.miamibankruptcy.com.

$5.4 Million Awarded to Houston Couple in Foreclosure Fraud Case

December 11, 2015 Posted by kingcade

Sometimes David does beat Goliath.  It’s a story we have heard thousands of times since the housing crisis. Homeowners fighting the big banks to try and save their homes from foreclosure. Many times arguing that the lender or servicer has no legal authority to foreclose on their home.

One Houston couple recently took on one of the nation’s largest banks- and won! David and Mary Ellen Wolf received a foreclosure notice in 2011 from Wells Fargo.  There’s just one problem- The Wolf’s had never done business with Wells Fargo or their mortgage servicer, Carrington Mortgage Services.

After discussing the situation with their neighbor, who is also a  lawyer, they determined that neither Wells Fargo nor Carrington had the legal right to foreclose on them.  The issue of mortgage notes being transferred between lien holders and servicers after the mortgage was originated is not a foreign concept, but the Wolf’s argued that Wells Fargo violated Texas law.

According to the Houston Chronicle: Wells Fargo retroactively attached the Wolfs’ mortgage to a securitized trust that was closed and sold to investors three years earlier, the bank violated a Texas law that prohibits fraudulent real estate filings. The jury agreed, although State District Judge Mike Engelhart has not formally entered the verdict, and the bank and mortgage company have not said whether they’ll appeal.

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 website at www.miamibankruptcy.com.

Miami’s Foreclosure Rate Continues to fall

December 24, 2013 Posted by kingcade

According to a recent report by CoreLogic, the foreclosure rate for the greater Miami area fell sharply in October from a year ago. However, Miami’s foreclosure rate continues to remain far above the national average. In the Miami, Miami Beach, Kendall area, 19 percent of outstanding mortgages were in some stage of foreclosure, compared with 15.06 percent a year earlier.

Florida’s foreclosure rate fell to 6.98 percent in October from 10.65 percent a year earlier. The national average was 2.15 percent, down from 3.06 percent in October 2012. For the Miami, Miami Beach, Kendall area, 15.69 percent of mortgage loans were delinquent by more than 90 days. That compares with 21.66 percent a year earlier.

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 website at www.miamibankruptcy.com.