Posts Tagged: ‘Miami foreclosure defense attorney’

Lawmakers Approve Extending Foreclosure Mediation Law

July 6, 2018 Posted by kingcade

Rhode Island lawmakers recently approved a bill that will extend an expiring foreclosure mediation law. The bill was approved last weekend as the General Assembly ended its session and is making its way to the governor for signature.

This law has been in place since 2013 and requires Rhode Island Mortgage lenders to participate in mediation with homeowners whose mortgages are in default and are facing foreclosure. The hope of this law was to prevent the resulting onslaught of foreclosures.  The law is set to expire on July 1, 2018. This new extension moves the law’s sunset provision to July 1, 2013.

The Rhode Island Attorney General, Peter Kilmartin, has declared this extension “good public policy,” in that it was meant to save homeowners from losing their homes. Since the law was put into place in 2013, it is estimated that approximately 1,000 homeowners have sought foreclosure mediation.

The mediation program is administered through RIHousing. According to the program administrator, more than 70 percent of the homeowners who have gone through the mediation program have reached an agreement with the mortgage provider and were able to stay in their homes.

Florida had a similar mandatory mediation program that was enacted in 2009. The state ended its mandatory foreclosure mediation program in December 2011. The program required all residential foreclosure cases involving homestead property in Florida to undergo mediation, through an administrative order that was issued by the Florida Supreme Court. Upon a later Florida Supreme Court review, it was reported that the program was not having as much success as has been reported in Rhode Island. A panel review was started to determine whether the program should be continued, modified or eliminated. It was after that review that the Florida Supreme Court determined that the program should then be eliminated, and it ended at the end of 2011.

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.

Related Resources:

https://www.usnews.com/news/best-states/rhode-island/articles/2018-06-25/lawmakers-approve-extending-foreclosure-mediation-law

http://www.flcourts.org/resources-and-services/alternative-dispute-resolution/mediation.stml

http://www.wsh-law.com/files/In_re_Managed_Mediation.pdf

 

 

New Bill Seeks to Enhance Foreclosure Protections

June 20, 2018 Posted by kingcade

The Mortgage Servicing Fairness Act of 2018, introduced by Rep. Maxine Waters (D-CA), aims to protect homeowners against foreclosure and increase the Federal Housing Finance Agency’s (FHFA) oversight of mortgage servicers that conduct business with Fannie Mae and Freddie Mac. Both of these agencies own or guarantee nearly 60 percent of all mortgage loans.

Waters, who is a ranking member of the House Committee on Financial Services, introduced the bill on Monday and said the new legislation will strengthen FHFA oversight of servicers who conduct business with Fannie Mae and Freddie Mac. The new legislation will require:

  • Documentation of servicer behavior;
  • FHFA evaluation of the services provided to borrowers; and
  • Will penalize servicer failure to meet minimum standards established by the FHFA.

The bill is supported by the National Consumer Law Center and the National Fair Housing Alliance.

Click here to read more.

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 Starts Increase Last Month

April 23, 2018 Posted by kingcade

Foreclosure starts increased 12 percent to a total of 52,100 in March as later-stage hurricane-related delinquencies began to roll over into active foreclosure starts. The report by First Look on Mortgage performance released by Black Knight, noted that more than two-thirds of these foreclosure starts were in hurricane-impacted areas of Florida and Texas.

Despite the increase, national delinquency rates dropped to a 12-month low of 3.73 percent, in March and continued improvements in hurricane-related delinquencies, according the report.

The month of March is typically a calendar—year low for delinquencies. Delinquencies declined 13 percent during March, which can be partially attributed to borrowers using their tax returns to help bring their mortgage current. The report also noted that serious delinquencies fell by 65,000, and by nearly 20,000 in areas impacted by the hurricanes last year.

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.

An Inside Look at 83 Million Eviction Records, and what Housing has come to in America

April 11, 2018 Posted by kingcade

A recent article in the New York Times provided an in depth look at the eviction crisis occurring in America. Nearly one million American households received eviction judgments in 2016 in new data spanning dozens of states. Two years prior, sociologist Matthew Desmond turned the topic of eviction into a national one with his book, ‘Evicted,’ which chronicled how poor families who lost their homes in Milwaukee sank even further into poverty. This problem is not just in Milwaukee, eviction judgment rates for renting households is widespread.

Desmond’s team found records for nearly 900,000 eviction judgments in 2016. Landlords were given the legal right to remove at least one in 50 renter households in the communities covered by this data. And one in five renter households in Richmond, Va., which has one of the highest eviction rates, were threatened with eviction in 2016. Their landlords began legal proceedings, even if those cases did not end with a lasting mark on a tenant’s record.

Most of those evicted never made it to the courtroom.  Some did not appear because their problem seemed hopeless; others did not show because they had no legal representation.  The median amount owed was $686. These cases, sometimes brought in bulk by property managers are settled in minutes when defendants are not present.

Eviction is not just one problem; it often spirals into a number of problems.  Medicaid benefits and food stamps are forfeited by families who often need them the most after losing the permanent addresses where the renewal notices are sent.

To make matters worse, states like Virginia, that have some of the highest rates of eviction lack certain tenant rights available in other states.  In areas like Richmond, Va., many poor African-Americans live in low quality housing projects with no means of escaping it. Many times these individuals are just a car repair or hospital visit away from missing a rent payment.

The process of what happens after the eviction is not any better.  The current court process functions as an arduous rent-collection system, one that attaches attorney fees and court costs to rent checks, and one that saddles even tenants who do not lose their homes with lasting eviction marks on their credit reports.  It oftentimes takes years for families to stabilize after this.

Another downside, the underprivileged tenants are not ensured access to legal aid or protected from steep rent increases, as in some cities and they have no rights to deduct their own repair costs from the rent.  The median amount owed on a public housing eviction was $328, according to Desmond’s data.  The public housing authority, spends on average 50 days turning over the apartments, costing the agency more in lost rent than the unpaid rent cases are often worth.

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.

Clarifying Contested Foreclosures After Bankruptcy – Florida Governor Rick Scott Signs off on New Law

April 9, 2018 Posted by kingcade

When going through the bankruptcy process, filers must declare their intentions toward any property securing their debt, which can include their home. This can involve surrendering the property to the lender or retaining it and making payments to reduce the debt.  If you agree to surrender the property in order to clear the mortgage debt, can you contest the foreclosure to try and delay the process while remaining in the home?

Senate Bill 220, a new law addressing the property rights of defendants pertaining to bankruptcy and foreclosure proceedings, recently signed by Florida Governor Rick Scott says no. The bill is consistent with the ruling in the Florida Middle District Case In re Metzler, a 2015 case that ruled debtors cannot raise defenses once a subject property has been surrendered in bankruptcy. However, the law does allow defenses to be made based on the conduct of the lender after surrendering the property.

Florida has one of the most generous homestead exemptions in the country. To use Florida’s bankruptcy exemptions, you must have resided in Florida for at least 730 days before filing your bankruptcy petition. To claim the full value of the homestead exemption in Florida, you must have owned the property for at least 1,215 days before the bankruptcy filing.

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.