Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Unregistered

Since the bulwark of foreclosure defense has been tying the lenders up regarding proper documentation, what will be the new strategies/tactics should the Florida law pass?  Over the last several years, the average length of the foreclosure process has been around two years...one must assume that the time period will be significantly reduced unless there are other legal/procedural avenues which can be used to battle the lenders.  Any thoughts or ideas?.....what is the possibility of constitutional challenges

Quote 0 0
Unregistered

Quote:
Since the bulwark of foreclosure defense has been tying the lenders up regarding proper documentation, what will be the new strategies/tactics should the Florida law pass? Over the last several years, the average length of the foreclosure process has been around two years...one must assume that the time period will be significantly reduced unless there are other legal/procedural avenues which can be used to battle the lenders. Any thoughts or ideas?.....what is the possibility of constitutional challenges

 

 

Although I haven't seen any recent statistics on Florida foreclosure case dispositions, there is a significant overhang of underwater mortgages both in Florida and nationally that are not yet in default.  But real estate values are falling again.

 

It is my impression that NEW CASES are being added to the Florida foreclosure dockets FASTER than the existing caseload is being cleared.  This seems to suggest generally lengthening time lines rather than shrinking time lines without respect to the enactment of new foreclosure laws.

 

Also, older cases, which are the ones with the most egregious fraud would seem far more likely to languish than newly filed cases, where the foreclosure mills are more likely to be cleaning up the pleadings and the paperwork.  

Quote 0 0
Unregistered
Also another dynamic on the Florida foreclosure process....

There are countless foreclosure mill law offices which have been retained by the major lenders.  These firms are paid by each foreclosure filed.  They are given a fresh batch of new cases each month.  I have been told by an attorney who is familiar with the process that in an effort to make as much money as possible with the least amount of effort, these firms purposely target those who are least likely to resist.  According to this attorney, less than 10% of foreclosures are contested.  So, they look for any filings, legal activity etc which could present a problem.  These are put aside for later.  Well, sometimes later doesnt come.  As they work there way through a monthly batch, just about the time they are reaching towards the bottom, a new batch arrives and it starts all over again. 
Quote 0 0
Unregistered
Interesting question:

 "...Any thoughts or ideas?.....what are the possible avenue of attack/challenges?"

While the question certainly is hypothetical any input would be appreciated.
Quote 0 0
Unregistered
It all depends on your goal, and how realistic is your goal.

If your goal is to get a free house, well pretty much forget it.

If your goal is to get a dismissal with prejudice, well that is slim as well.

If your goal is to stay in the house for a few more years, delay foreclosure and perhaps even get reinstated or possibly take advantage of the mortgage settlement, that seems more reasonable.


Quote 0 0
Unregistered
Let's see (a) a free house, or (b) dismissal w/prejudice, or (c) .. to stay in the house for a few more years, delay foreclosure and perhaps even get reinstated or possibly take advantage of the mortgage settlement, that seems more reasonable.

I'll go with (c) "If your goal is to stay in the house for a few more years, delay foreclosure and perhaps even get reinstated or possibly take advantage of the mortgage settlement, that seems more reasonable."


Quote 0 0
Write a reply...