According to realtytrac.com, while foreclosures in Broward County are down overall, they are still holding steady into January 2015.
As you can see, foreclosure activity remains string, while auctions have fluctuated right around 1,000 per month, the number of bank-owned properties has skyrocketed. A sure trend that the Broward court system is clearing out old cases.
Additionally, Broward County foreclosures continue to beat the national and Florida average in units in foreclosure at 0.30%
Palm Beach County exhibited similar trends but at lower numbers. Total foreclosure activity was around 1500 instead of 2500. Pre-foreclosures were about half that of Broward County with auctions at approximately 600-700 average monthly and bank owned properties up but not as drastically to around 500 per month. Palm Beach came in under the national average at with .22% of all units in foreclosure
Broward County, where we have the bulk of our foreclosure cases and practice daily, has taken a sudden turn it its attitude towards sale dates. Before, Broward was one of the loosest counties with sale dates we’ve experienced. 2009 case and cancelled 3 times before? Sure, one more time. Bank agrees? Sure judge signs and agreed order without reviewing it 99% of the time.
Suddenly, Broward County has decided to change its position on sale date cancellations; likely due to the foreclosure court finding issue coming up again at the end of June 2015.
We are starting to see, and not a steadfast rule, generally any case 2010 or older being automatically denied cancelling the sale that has been cancelled one or more times before. That is unless the homeowner is in an approved modification or short sale. This is in stark contrast to how sale dates were handled not even 1 month ago.
We urge all homeowners out there to consider this and start your loan modification, short sale or deed in lieu NOW. Our firm’s general policy has always been to start our clients on modifications or short sale long before judgment I their case; as this does not affect their case and is not admissible as any type of evidence.
This policy has paid of greatly as we have a higher rate of obtaining approved modifications and deeds in lieu (walk away) than any firm I have worked with in the past; who charge higher fees too.
If you need assistance defending your foreclosure case along with loan modification, short sale or deed in lieu, contact us ASAP at 754-800-LAW0 or info@JAKLegal.com for your FREE case evaluation.
Or go on our website and submit your case information to is and we will contact you back as soon as possible to discuss with a licensed Florida attorney.
I would like to point out a very good post from fellow foreclosure defense lawyer Mark Stopa.http://www.stayinmyhome.com/foreclosure-defense-101-save-money/
Second, the notorious “free house” does not exist. There are only a handful of cases across the whole country where a borrower got a free house, and these were in cases of the worst foreclosure abuses imaginable. Florida judges are not generally homeowner-friendly and will not award you a free house because the bank screwed up.Read it. Read it carefully. DO NOT and I mean DO NOT hang your hat on beating the bank in court and getting a free house. First, even IF you win or the bank dismisses the case because it cannot proceed on its current paperwork, it is “without prejudice” meaning the bank CAN and WILL re-file at some point.
You should be saving money. Whatever you are not paying in mortgage,taxes and insurance, should be going into a separate bank account that you do not touch. When it gets to the end of the road and modification efforts cannot be had, then you have a safety net. You can use that money now to go rent or buy elsewhere, and should have a good amount saved if $1,500 is the average mortgage payment as a whole.
PLEASE do not come to us after 4-5-6 years of being in foreclosure and say “what do I do now I have nowhere to go?” You knew you were in foreclosure, you had YEARS to save money while we did our job, and there was no guarantee you would end up at the end with the house still. Money should have been put aside for rainy day such as this.
As Mr. Stopa points out in a subsequent post after this, yes, there are times when homeowners cannot even pay their bills, let alone save the money they aren’t paying the bank. But let me pose this question. If you cannot pay the bills without a mortgage, what do you expect the bank to do for you to make it affordable to pay your bills AND a reasonable mortgage payment? You have to be realistic. If you can afford $0 because you cannot even pay the costs of living monthly, you have a bigger problem than foreclosure and I urge you to seek a financial counselor immediately before it is too late and start saving even a $100 dollars a month. This will add up after a few years of the foreclosure case dragging on. In 2 years you will have $2,400 saved; a good deposit for a rental.
Please take this warning and put aside money. We see far too many homeowners (not necessarily our clients) with fancy cars, nicer than their lawyer drives, taking lavish vacations, and then telling their lawyer that they cannot afford a reasonable mortgage amount. Do not blow the opportunity while living “mortgage free” to live like a king, because it will come and bite you later when the foreclosure goes through and you have nowhere to go.
As previously reported here the 5th DCA previously held that essentially the 5 year statute of limitations on foreclosure really did not apply. To summarize, the 5th DCA decided that the five-year deadline to collect started anew when each mortgage payment was missed. That essentially means the bank is under no deadline to refile for the life of the mortgage, typically 30 years, plus 5 years.
Before, if the bank filed a foreclosure in say 2007, and that case was dismissed in 2013 by the court (not for settlement), the bank could not file another foreclosure lawsuit as it was barred by the 5 year statute of limitations. Without getting technical, the first time the bank tried to foreclosure, it accelerated the entire mortgage debt but failed to prevail in the lawsuit.
The 5th DCA misapplied the law, in my opinion, as said that each missed payment was a separate installment payment, and all the bank had to do was allege a default date in the new lawsuit in that 5 year period and then file the new lawsuit. This was a way around the statute of limitations.
Now the Florida Supreme Court is hearing the case, and will hopefully overturn the incorrect decision that banks are now relying on. The briefs in the case can be found here and scroll down to the case number SC14-1265 to see all of the briefs filed in the case to date.