Foreclosures Archives - Page 52 of 56

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Thirty-Two Plaintiffs File RICO Action against JPMorgan Chase Bank and Chase Home Finance, LLC

Posted on September 10, 2011by Admin

A Complaint has recently been filed in the Circuit Court of Palm Beach County, Florida against JPMorgan Chase Bank and Chase Home Finance, LLC. The 29-page Complaint alleges several causes of action including violations of the Florida RICO Act, and requests temporary and permanent injunctive relief on a national level to halt all Chase-related foreclosure activity in the eight separate states in which the Plaintiffs reside.

The Complaint alleges a pattern of criminal activity on the part of JPMorgan Chase Bank and Chase Home Finance in connection with the institution of both judicial and non-judicial foreclosures. These include but are not limited to the filing and recording of forged and fraudulent documents, fraudulent collection activities, intentional misuse of the MERS system, and the intentional misrepresentation in foreclosures across the United States. The four counts from the complaint include:

COUNT I: COMMON LAW FRAUD
COUNT II: CONSPIRACY TO DEFRAUD
COUNT III: VIOLATIONS OF FLORIDA CIVIL REMEDIES FOR CRIMINAL
PRACTICES ACT (FLORIDA RICO ACT)
COUNT IV: TEMPORARY AND PERMANENT INJUNCTIVE RELIEF

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. Since 1996 the attorneys at Kingcade & Garcia, P.A. have been helping people from all walks of life build a better tomorrow. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

U.S. is set to Sue Big Banks over Mortgages

Posted on September 10, 2011by Admin

The Federal agency that oversees mortgage giants Fannie Mae and Freddie Mac is scheduled to file suit against more than a dozen big banks. The suit is accusing Bank of America, JPMorgan Chase, Goldman Sachs, Deutsche Bank and other banks of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and are seeking billions of dollars in compensation.

The Federal Housing Finance Agency suits are expected to be filed in the coming days and stem from subpoenas the finance agency issued to banks a year ago. The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under securities law and missed evidence that borrowers’ incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value. Fannie Mae and Freddie Mac lost more than $30 billion, in part as a result of the deals. These losses were borne mostly to tax payers.
The suits are being filed now because regulators are concerned that it will be much harder to make claims after a three-year statute of limitations expires this Wednesday, the third anniversary of the federal takeover of Fannie Mae and Freddie Mac.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

Bankruptcy Attorney Timothy Kingcade Discusses Bankruptcy Trends with South Florida’s Sun-Sentinel

Posted on September 10, 2011by Admin

Bankruptcy attorney Timothy Kingcade was recently quoted in the Sun-Sentinel and talked bankruptcy trends with workplace reporter, Marcia Pounds. The story was published on September 2, 2011 and discussed how the number of South Florida consumers filing for bankruptcy fell nearly 21 percent, to 2,690 in August, from 3,387 that same month in 2010.

Timothy Kingcade attributes this trend to a stalled home foreclosure process and people being unable to afford to file bankruptcy. “I see so many people who have been unemployed for 18 months. They say, ‘I need to file, but I need a job first,’ he said.

Since 1996 Timothy Kingcade has been helping people from all walks of life build a better tomorrow by taking advantage of their rights under bankruptcy protection laws. To compliment Attorney Kingcade’s extensive experience in bankruptcy law, he is also a certified public accountant (CPA), which provides him with a unique understanding of how to handle tax-motivated bankruptcy cases against the IRS.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Burt Reynolds Florida Home in Foreclosure

Posted on September 4, 2011by Admin

It seems that even Hollywood celebrities are not exempt from financial difficulties these days. Burt Reynolds joins the list of Hollywood celebrities that recently had their home foreclosed upon. The 4-acre waterfront estate the actor owned in Hobe Sound, Florida had a $1.2 million mortgage on the house, which reports state had not been paid since September 2010.

Merrill Lynch is asking a judge to order the Reynolds’ home be sold to satisfy all debts, including a $750,000 second mortgage held by Bank Atlantic. It is reported that the Mediterranean-style home, which has a swimming pool, private beach, boat dock, cinema and its own hair salon, is valued at $2.4 million.

To read more on the story visit:

http://abcnews.go.com/Entertainment/burt-reynolds-bottoms-florida-foreclosure/story?id=14324008
http://money.cnn.com/2011/08/17/real_estate/burt_reynolds_foreclosure/index.htm
http://www.huffingtonpost.com/2011/08/18/burt-reynolds-facing-foreclosure_n_930443.html

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. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Trend Alert: Decline in Foreclosure Activity in U.S. Metro Areas

Posted on August 11, 2011by Admin

It has been reported that the nation’s largest metropolitan areas are seeing a sharp drop in foreclosure activity as banks take longer to move against homeowners who are behind on their mortgage payments. According to Realty Trac Inc. in the first half of this year, 84 percent of metropolitan areas with a population of at least 200,000 saw their foreclosure rate drop versus the same period last year.

In total, foreclosure activity declined in 178 of the country’s 211 largest metropolitan areas during the first six months of the year. The decline is due to delays in the foreclosure process as lenders work through foreclosure documentation problems that first surfaced last fall. Those problems prompted them to resubmit paperwork on many properties that had been slated for foreclosure and led to a slew of government investigations of the mortgage industry. Mortgage banks also have put off taking action against newly delinquent borrowers in order to try loan modifications or other tactics aimed at avoiding foreclosure.

This has resulted in some 1.7 million potential foreclosures being held up. The slowdown in foreclosure activity has been pronounced in states like Florida, New York, Maryland, New Jersey, Connecticut, Massachusetts and Illinois, where courts play a major role in the foreclosure process and are only beginning to sort through the backlog of cases.

Foreclosures, Timothy Kingcade Posts

Special Report Reveals Banks are still relying on Robo-signers and Questionable Foreclosure Documentation

Posted on July 23, 2011by Admin

A recent investigation by Reuters revealed that some of America’s leading mortgage lenders and other “loan servicers” are taking the same short-cuts they promised to abolish just one year ago. The investigation found questionable foreclosure documents being filed with courts and county clerks, along with the continued use of “robo-signers” to speed up the process. These are the same tactics that last year triggered multiple investigations and placed temporary holds on a number of foreclosures.

In recent months, the investigation revealed that servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts. Reuters also identified at least six robo-signers, individuals who in recent months have each signed thousands of mortgage assignments and legal documents which pinpoint ownership of a property. The companies that Reuters found that have filed foreclosure documents of questionable validity include: One West, Bank of America, HSBC Bank USA, Wells Fargo and GMAC Mortgage.

Reuters reviewed records of individual county clerk offices in Florida, Massachusetts, New York, North Carolina and South Carolina. They also examined hundreds of documents from court case files, some obtained online and others provided by attorneys.

To read more on the story visit:

http://news.yahoo.com/special-report-banks-continue-robo-signing-003758223.html

Foreclosures, Timothy Kingcade Posts

Two of the Nation’s Largest Lenders are offering Delinquent Homeowners in Florida a Deal to Complete Short Sales

Posted on July 17, 2011by Admin

JPMorgan Chase & Co. and Wells Fargo & Co. are offering delinquent homeowners a deal that will give select borrowers behind on their mortgage payments $10,000 to $20,000 for agreeing to short sales, which means the homes are sold for less than what’s owed on the mortgages.

In addition, Florida homeowners are entitled to $3,000 of government money if they complete short sales through the Home Affordable Foreclosure Alternative program. Wells Fargo and Chase say that they are cutting their losses choosing to forgo the potentially lengthy process of foreclosure.

The average foreclosure in Florida took 619 days for cases completed in the first three months of 2011, according to RealtyTrac Inc. That’s more than 30 percent longer than cases completed a year ago. Some analysts speculate the money for short sales is an effort by the lenders to be viewed as good corporate citizens as they expand aggressively in Florida after the banking takeovers.

To read more on the story visit:

http://therealdeal.com/miami/articles/chase-bank-offers-florida-homeowners-incentive-to-short-sell

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 or short sales, please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Two Foreclosure Fraud Investigators Released from Florida Attorney General’s Office- The Firing is linked to their involvement in uncovering evidence of suspicious foreclosure practices on the part of law firms, banks and loan servicers

Posted on July 17, 2011by Admin

Accordingto a recent story in the Palm Beach Post, a lead foreclosure fraud investigator for the state said she and a colleague were forced to resign from the Florida attorney general’s office. Former Assistant Attorney General Theresa Edwards and colleague June Clarkson had been investigating the state’s so-called “foreclosure mills,” uncovering evidence of legal malpractice that also implicated banks and loan servicers.

Despite positive performance evaluations, Edwards said the two were told during a meeting with their supervisor in late May to give up their jobs voluntarily or be let go. Edwards said no reason was given for the move. In sworn statements taken by Edwards and Clarkson as part of their investigation of the Law Offices of David J. Stern, former employees described conditions where signatures were regularly forged on foreclosure documents, paperwork was notarized by non-notaries, and flawed files were hidden from auditors of federal mortgage backers Fannie Mae and Freddie Mac.

To read more about this story visit:

http://www.palmbeachpost.com/money/foreclosures/foreclosure-fraud-investigators-forced-out-at-attorney-generals 1603854.html?viewAsSinglePage=true

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 this topic or would like to schedule a FREE office consultation, contact our experienced team of foreclosure defense attorneys today at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Foreclosure Relief Effort Finally Kicks Off- But there’s a Catch

Posted on June 25, 2011by Admin

A long-awaited $1 billion program designed to provide the unemployed with loans to assist them in avoiding foreclosure is finally underway. But there’s a catch: Homeowners will have only one month to apply. The new Emergency Homeowners’ Loan Program aims to help unemployed homeowners with their mortgage payments by providing zero-interest loans of up to $50,000. The program is expected to aid 30,000 borrowers, and the loans can be forgiven over five years. Homeowners will need to apply by July 22 to be eligible for the program. Borrowers must be approved by September 30. At this point, the government’s authority to make new loans will have run out, so timing is everything!

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 this topic or would like to schedule a FREE office consultation, contact our experienced team of foreclosure defense attorneys today at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

How Filing Bankruptcy Can Help you Avoid Foreclosure

Posted on May 14, 2011by Admin

If you are facing foreclosure, bankruptcy can be a powerful alternative to saving your home. Filing Chapter 7 or a Chapter 13 bankruptcy automatically places a stay on foreclosure of your property; provided that you include the house as part of your bankruptcy and that your home is your personal residence. Upon filing a Chapter 7 or Chapter 13, the bankruptcy court automatically sends all of your creditors an order directing them to cease collection activity on your property. The “Order for Relief” legally postpones the foreclosure while the bankruptcy is pending, which can last approximately three to four months.

However, it’s important to remember that timing is everything. If you allow your foreclosure proceedings to continue beyond the point of no return and the foreclosure notice is already filed with the courts, the automatic stay means nothing and foreclosure will continue. You have to make sure that you file the bankruptcy before the foreclosure is filed and your auction date set. This is best accomplished by filing the bankruptcy after your first missed mortgage payment.

While the bankruptcy is pending, and the weight of paying other creditors is lifted, this is your opportunity to take your resources that do not go directly to immediate living expenses (i.e. – food, utilities, gas and transportation) and channel that money directly into a lump sum payment to satisfy the mortgage company. If you head into bankruptcy court with the resources to reinstate your loan, you will have avoided foreclosure.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. 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, P.A. website at www.miamibankruptcy.com.