Foreclosures Archives - Page 54 of 56

Major Ruling Throws out more than 10,000 GMAC Foreclosure Cases

Posted on January 25, 2011by Admin

A recent ruling in Maryland has thrown out more than 10,000 foreclosure cases managed by GMAC Mortgage, due to affidavits in cases signed by Jeffrey Stephan, the infamous GMAC “robo-signer,” who attested to the authenticity of foreclosure documents without any knowledge about them, as well as signing other false statements.

The University of Maryland Consumer Protection Clinic and Civil Justice, Inc. filed the class action lawsuit, arguing that any case using Jeffrey Stephan as a signer was illegitimate and must be dismissed. In court last Friday, GMAC agreed to dismiss every case in Maryland relying on a Stephan affidavit. They can re-file foreclosure actions on close to 10,000 homes, but only at their own expense, and subject to new Maryland regulations which require mandatory mediation between borrower and lender before moving to foreclosure. Civil Justice and Consumer Protection Clinic also want any cases with affidavits from Xee Moua of Wells Fargo, who has also admitted to robo-signing, thrown out.

Now GMAC has to go back and basically file the entire case all over again, meaning they have to give notice of foreclosure to the borrower, engage the borrower in modification options, and run through the whole process from the beginning. They cannot use the shortcut solution, thanks to the class action suit filed.

To read more on this story, visit:
http://news.firedoglake.com/2011/01/16/10000-gmac-foreclosures-stopped-in-maryland/#

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.

Banks Drop Hundreds of Foreclosures in Southwest Florida

Posted on January 24, 2011by Admin

According to local attorneys and court records, banks in recent weeks have dropped hundreds of Southwest Florida foreclosure lawsuits in Lee, Collier and Charlotte counties. Opinions vary sharply on whether this means banks are taking a breather before re-filing with stronger evidence, or just giving up for good on hopelessly flawed cases.

The exact amount of foreclosures being dismissed have not been calculated, but eight voluntary dismissals were filed last Tuesday alone by seven different banks including Bank of America, one of the largest filers of foreclosures in the area. Most of the mortgages in dispute were sold to Wall Street and sold in bundles to investors as mortgage-backed securities. However, so many mistakes were made in the process it’s unlikely the banks can win those cases.

This recent wave of voluntary dismissals may be a result of a Massachusetts Supreme Court ruling on January 7th upholding a judge’s decision two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which were said to be improperly transferred into two mortgage-backed trusts.

Foreclosures, Timothy Kingcade Posts

State Details Foreclosure Chaos – “Unfair, Deceptive and Unconscionable Acts in Foreclosure Cases”

Posted on January 14, 2011by Admin

The state attorney general’s office recently gave a 98-page presentation detailing Florida’s foreclosure chaos at a conference for the Florida Association of Court Clerks and Comptrollers. The presentation included copies of allegedly forged signatures, false notarizations and witnesses. It also focused largely on assignments of mortgage, documents that transfer ownership of mortgages from one bank to another. One example in the presentation, noted a signature by someone named Linda Green and was said to appear on hundreds of thousands of mortgage documents from dozens of banks and mortgage companies, but in varying styles.

The presentation entitled, “Unfair, Deceptive and Unconscionable Acts in Foreclosure Cases,” stands as one of the first examples of what the state has compiled in its exploration of foreclosure malpractice, holding banks, mortgage servicers and law firms accountable for contributing to the foreclosure crisis by cutting corners.

To read more on this story, please visit:
http://www.palmbeachpost.com/money/real-estate/state-details-foreclosure-chaos-1164504.html

If you have any questions on the topic of foreclosure please feel free to contact foreclosure defense attorney, Timothy Kingcade 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

Fannie Mae Introduces New Florida Foreclosure Prevention Program

Posted on January 10, 2011by Admin

By the time many people consider alternatives to foreclosure, the lender has already begun the foreclosure process. Options like negotiating with the lender become nearly impossible because the foreclosure process is completed before those negotiations have time to produce results.

This is why Fannie Mae has introduced a new program in Florida. The initiative is designed to give homeowners who are behind on their mortgage payments the opportunity to negotiate a lower monthly payment before the foreclosure process begins. While this program should not take the place of working with a bankruptcy attorney to make the best decisions, it may help people stay in their homes and avoid foreclosure.

Foreclosures, Timothy Kingcade Posts

Novice Florida Lawyers Draw Suspicion in Foreclosure Crisis- Know the Importance of Hiring an Experienced Attorney when Facing Foreclosure

Posted on December 30, 2010by Admin

Today, more than 260 attorneys work at four of Florida’s largest foreclosure firms, and 48 percent of them have been practicing law for less than three years, according to Florida Bar records. With the recent allegations pertaining to forged foreclosure documents, fraudulent notarizations and questionable affidavits submitted in tens of thousands of foreclosure cases, these novice lawyers are now under a cloud of suspicion. Some may face Florida Bar investigations that could end their careers, while homeowner advocates wonder whether the foreclosure crisis would have reached its state of disorder if it weren’t for legions of novice lawyers doing the legwork.
As Florida’s overwhelmed court system sorts through the foreclosure chaos, many of the attorneys who worked for the now deposed Stern law firm and others like it have been hired at other large companies doing foreclosure work in the state. In sworn statements taken by the state attorney general’s office, two former Stern employees — a paralegal and a legal assistant — attest to wrongdoing at the firm that included hiding problem files from federal auditors, forging signatures and making up documents as staff struggled to keep up with a mounting volume of foreclosures. Lack of experience could have led young lawyers to follow their employer’s lead, unaware they may be committing an offense.
Hiring an experienced foreclosure attorney is an invaluable asset for those in danger of losing their homes. The skills, knowledge and experience the attorneys at Kingcade & Garcia, P.A. possess go toward helping clients get the results they are seeking. 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.
To read more on this story, please visit:
http://www.sun-sentinel.com/business/fl-foreclosure-novice-lawyers 20101227,0,2092736.story?page=1
If you have any questions on the topic of foreclosure please feel free to contact foreclosure defense attorney, Timothy Kingcade 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

Florida Foreclosures Drop 42 Percent

Posted on December 27, 2010by Admin

The State of Florida experienced a 42 percent drop in foreclosure activity for the month of November. As promising as this might sound, the decrease was expected and does not signal an improvement for the housing market. Rather, the plummet is attributed to the cessation of foreclosures by some major banks after allegations of robo-signing.
However, according to a RealtyTrac report from last week, an expected seasonal dip also contributed to the decrease. However, this dip is temporary, and the foreclosure numbers are expected to rise for the first quarter of 2011. Still, the robo-signing controversy played the most substantial role in the foreclosure decrease.
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

The Federal Reserve Proposes to Eliminate the Primary Protection Homeowners currently have to Avoid Foreclosure and Abusive Home Loans

Posted on December 15, 2010by Admin

As Americans continue to lose their homes in what’s been referred to as the worst foreclosure crisis since the Great Depression, the Federal Reserve has come up with a proposal making it even more difficult for homeowners to keep their homes and escape predatory home loans. The Fed’s propose to amend the Truth in Lending Act, a 42-year-old provision that since 1968, has given homeowners the right to cancel, or rescind, illegal loans for up to three years.
Attorneys at AARP have used the rescission clause for decades to protect older homeowners stuck in predatory loans with costly terms. In recent years, the Truth in Lending Act has helped struggling homeowners fight a wave of foreclosure cases in which faulty and sometimes-fraudulent disclosures were used. This provision has also been an effective tool in making sure creditors follow the rules and are transparent about the true cost of loans.
Dozens of groups have opposed the new measure, including the National Consumer Law Center, the NAACP and the Service Employees International Union, saying the proposal is “bad medicine at the wrong time.”
To read more about this story and learn more about the proposed changes, please visit:
http://www.miamiherald.com/2010/12/05/1958249/fed-wants-to-strip-a-key-protection.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

Top Lenders Fannie Mae, Freddie Mac and Bank of America Stop Foreclosure Evictions during the Holidays

Posted on December 15, 2010by Admin

Fannie Mae and Freddie Mac announced that they will halt foreclosure evictions December 20-January 3. For Fannie Mae, the move will not include a stop on court proceedings involving foreclosures, but will at least allow people to stay in their homes through the holidays. Bank of America and Freddie Mac have offered the same courtesy, allowing a greater measure of certainty to families this holiday season.
To read more about this story, please visit:
http://www.miamiherald.com/2010/12/02/1953426/top-lenders-to-stop-foreclosure.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

Chief Justice Charles Canady addresses the issue of public access to Florida foreclosure proceedings- which has been in jeopardy as a result of the heavy volume of foreclosure cases

Posted on November 29, 2010by Admin

In a recent memorandum sent to chief judges of Florida’s twenty judicial circuits, Chief Justice Charles Canady addressed the important issue of public access to Florida’s foreclosure proceedings. The memorandum set forth that the chief judges ensure that the judges they supervise and the staff who report to those judges, as well as bailiffs and employees of the clerks of court, are not violating the rights of Floridians by improperly closing judicial proceedings to the public.
This comes after a letter was received from the Florida Press Association and other organizations. The letter alleged that in some instances, members of the public and/or press either were advised that they could not attend mortgage foreclosure proceedings or were prevented from attending such proceedings. Under Florida law, the public has a right to observe the workings of the judicial system. The reports, which have documented these incidents around the State of Florida, addressed the barriers, which have left members of the public and press subject to the discretion of individual foreclosure judges to admit or exclude them from attending the judicial proceedings.
The heavy volume of foreclosure cases has led to difficulties finding judges and courtrooms to hear the cases. As a result, some cases are being held in chambers for lack of an available traditional courtroom. Bottom line is- the proceedings must be open, even if they are held temporarily in a smaller and less formal physical setting than usual. While ordinary and uniform security procedures are still necessary, the unavailability of a traditional courtroom cannot justify a deprivation of the rights established under Florida law and the U.S. Constitution.
If you have any questions on this topic please feel free to contact bankruptcy and foreclosure defense attorney, Timothy Kingcade at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Florida Bar, Foreclosures, Timothy Kingcade Posts

Foreclosure Firms Face Action from the Florida Bar

Posted on November 17, 2010by Admin

This month, the Florida Bar investigated 43 reports of foreclosure fraud involving 32 lawyers. The investigation prompted the Florida Bar to add a new category solely for foreclosure fraud complaints. To find new cases, the head of the Florida Bar is asking judges around the state to report lawyers who break the rules, pointing specifically to news coverage of claims about foreclosure suits. Judges have been asked to send in copies of any orders they write that mention misconduct, in foreclosures or anywhere else.
Florida Attorney General, Bill McCollum’s office opened investigations of three high volume South Florida foreclosure firms which included: the Law Offices of Marshall C. Watson, the Law Offices of David J. Stern, and Florida Default Law Group. It’s reported that fraud arguments are still rare in foreclosures, but recently Florida is seeing more defense lawyers trying them. It’s argued that for some, the goal is just to delay a foreclosure, not resolve the debt. Bad documentation isn’t evidence of fraud as much as a sign that law firms are trying to handle a lot of work fast and cheap.
To read more on this story, visit http://jacksonville.com/news/florida/2010-11-15/story/foreclosure-firms-facing-action-florida-bar.
If you have any questions on the topic of foreclosure, please feel free to contact foreclosure defense attorney, Timothy Kingcade at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.