Miami Foreclosure Lawyer Blog

When the recession began, the strategy of some Miami foreclosure defense attorneys was limited -- in some cases to just dragging out the process and permitting the homeowner to live rent free as long as possible while saving money for a new beginning.

What a difference a few years makes. Today, banks are under criminal investigation in all 50 states (if only because politicians are paying lip service to the problem), and homeowners working to prevent foreclosure in Miami have a real shot at keeping their homes, negotiating away a deficiency judgment or even reach a monetary settlement.

Please join Miami Foreclosure Defense Lawyer Bruce Jacobs this Sunday at 7 p.m. for a webinar packed full of the latest strategies and legal advice: "Strategies for an Underwater Mortgage."

Visit www.didyourbanklie.com/webinar to register. Cost is $36. Enter Promo Code: VIP (case sensitive) for a 50 percent discount.

Attorney Jacobs is a former Miami County Prosecutor who spent years representing banks in foreclosure cases all over Florida. Today he is a member of "Max Gardner's Army," a nationwide group of defense lawyers sharing strategies and information in real time. His goal is to force meaningful relief for homeowners, by negotiating permanent loan modification, avoiding deficiency judgments or seeking other resolutions for those dealing with bad mortgage debt.

He has reported extensively on issues with banks that are providing homeowners who choose to fight with solid ground upon which to make a stand:

-Banks may be wrong about how much you owe.

-Proof of who owns your mortgage may not exist.

-Irresponsible lending was at the root of the crisis.

Join Attorney Jacobs for a night of questions and answers. Topics up for discussion include:

-Why isn't the loan modification process working?
-Do I want a loan modification anyway?
-What is securitization and how can it help?
-Are there meaningful defenses to foreclosure?
-What happens if I stop paying my mortgage?
-What about the condo or homeowners association?
-Should I pay my property taxes and insurance?
-How does the foreclosure process work?
-What is a deficiency judgment?
-Does my credit score matter if I owe so much?
-Can I get a principal balance reduction?

Knowledge is Power - Negotiate from Strength!
For more information or for media inquiry, contact Barbara Ferenczi at BNE Marketing at Barbara@BNEMarketing.com.

Continue reading "Miami Mortgage Foreclosure Defense Webinar this Sunday: "Strategies for an Underwater Mortgage" " »

Please join Miami Foreclosure Defense Attorney Bruce Jacobs this Sunday, May 1 at 7 p.m. for a 90 minute Webinar: "Strategies for an Underwater Mortgage."

Attorney Jacobs and his staff have been working with homeowners since the start of the recession. Whether you are looking to stop foreclosure in Miami, or are thinking about a home-loan modification, short sale or strategic default, this webinar will be packed full of free and useful legal advice meant to protect your rights and the financial well-being of you and your family.

Attorney Jacobs is a former Miami County Prosecutor who spent years representing banks in foreclosures all over Florida. He is part of "Max Gardener's Army," a group of attorneys trained in cutting-edge strategies who are sharing information and legal strategies in real time. His goal is to bring meaningful relief to homeowners struggling with foreclosure issues.

Visit www.didyourbanklie.com/webinar to register. Cost of the seminar is $36, payable via credit card or PayPal. Act now and receive 50 percent off using promo code: VIP (case sensitive).

Topics up for discussion include:

-Why isn't the loan modification process working?

-Do I want a loan modification anyway?

-What is securitization and how can it help?

-Are there meaningful defenses to foreclosure?

-What happens if I stop paying my mortgage?

-What about the condo or homeowners association?

-Should I pay my property taxes and insurance?

-How does the foreclosure process work?

-What is a deficiency judgment?

-Does my credit score matter if I owe so much?

-Can I get a principal balance reduction?

Knowledge is Power - Negotiate from Strength!

For more information or for media inquiry, contact Barbara Ferenczi at BNE Marketing at Barbara@BNEMarketing.com.

Continue reading "Miami Foreclosure Defense Firm Offers Webinar on Homeowner Defense " »

When it comes to fighting foreclosure in Miami and elsewhere in South Florida, members of the military are being disproportionately impacted. A recent article in the Sacramento Bee highlighted the nationwide issues involved when Wall Street greed targets those serving our country in the military.

Miami Foreclosure Defense Attorney Bruce Jacobs is a member of "Max Gardner's Army," a group of nationwide defense attorneys sharing cutting-edge strategies and information in real time. Our firm is dedicated to assisting members of the military deal with foreclosure. Issues can include loss of income as a result of being called to active duty or as the result of a spouse being killed while serving overseas. In other cases, divorce, credit card debt or medical bills may be an issue. And in still other cases members of the military may have fallen victim to the same predatory lending practices that have impacted thousands of other struggling South Florida homeowners.

The Bee reports foreclosures rose 32 percent during the last three years in ZIP codes near military bases. That compares to 23 percent nationwide.

The Servicemembers' Civil Relief Act is meant to protect active-duty military personnel from civil lawsuits during military service. Advocates for members of the armed services say it has not always been honored by banks, mortgage companies and their attorneys.

Nearly half the calls to a veteran's hotline in Atlanta in the first 9 months of 2010 were from veterans asking for financial help with housing issues.

Continue reading "Soldiers Impacted by Struggling Economy, Foreclosures in Miami" »

Foreclosure defense lawyers in Miami and elsewhere have been pointing for years to instances of fraud and other questionable practices employed by banks and mortgage companies. Too often, homeowners looking to stop foreclosure in Miami are simply victimized again by a Wall Street mentality that consistently puts profits -- at nearly all costs -- before the welfare of people.

Now CNN Money reports regulators have taken notice. We hesitate to break out the balloons and party poppers. We think for the foreseeable future, hiring an experienced Miami foreclosure defense attorneys will remain your best bet for protecting your rights and the long-term financial well-being of you and your family.

Simply put, banks are foreclosing on salvageable mortgages because there are billions of dollars to be made. As we reported recently on our Miami Foreclosure Lawyer Blog, the next shoe to drop will be deficiency judgments. Banks have 5 years from foreclosure to file a notice of their intent to pursue a homeowner for the difference between the amount of a loan and what the property brought at foreclosure sale. And banks have 20 years to collect. This is true even in short sales, unless a homeowners specifically negotiated the issue as part of the contract.

The fact that criminal investigations into the behavior of banks are now under way in all 50 states should give homeowners pause when thinking about attempting to negotiate the process without legal help. If not, perhaps a look at the settlement proposal being considered to settle those investigations will. Banks are being told by the top law enforcement officer in each state things like: "sworn statements shall not contain information that is false or unsubstantiated."

Banks countered by saying, essentially, their actions would not be considered perjury if they make a reasonable effort not to lie under oath -- or if the bank does not consider the lie to be important.

Many of these state investigations amount to little more than political posturing anyway. Now four years into this crisis, we certainly would not suggest counting on the politicians to come to the rescue of struggling middle-class families anytime soon. What banks know and respect is the prospect of litigation with a mortgage foreclosure defense lawyer who understand how to hold them accountable.

Bruce Jacobs is part of "Max Gardner's Army," a nationwide group of foreclosure defense lawyers who are sharing the latest legal strategies and information in real time. In each case, the group seeks a permanent loan modification, avoidance of a deficiency judgment, or other remedy that is in the best interest of the homeowner.

Thus far the banks have not been willing to sign anything that would make them accountable for the actions of their employees. Little wonder, since they contracted out much of the dirty work of foreclosures, which resulted in tens of thousands of fake mortgage documents being signed by minimum wage workers. One such robosigning operation was working out of a vacant strip mall in Georgia and was captured by 60 Minutes.

If you are dealing with an underwater mortgage or looking for help for homeowners in Miami, turn to an experienced law firm. Don't turn to the same bankers who made billions in bonuses creating the mess in the first place.

Continue reading "Bank's Actions Make it Clear - Consult a Foreclosure Defense Lawyer in Miami " »

Propublica recently detailed another mortgage modification nightmare, as banks continue to throw roadblocks and wrenches into the process. While modification is one option for those looking to prevent foreclosure in Miami, it is an option increasingly wrought with peril.

Our Miami foreclosure defense lawyers recently reported on our Miami Foreclosure Lawyer Blog that Washington politicians have voted to throw in the towel on HAMP, the government's $50 billion help-for-homeowners program. The plan ultimately spent just $1 billion and helped just a fraction of the eligible homeowners, primarily because banks refused to cooperate, lost paperwork, broke promises and did everything possible to avoid foreclosure -- which is their new billion-dollar business.

Bruce Jacobs is part of "Max Gardner's Army" and is trained in the cutting-edge strategies being used to assist homeowners in fighting foreclosure. Max's army is a nationwide team of foreclosure lawyers who are sharing information and strategy in real time.

Whether you are considering a short sale, mortgage loan modification or strategic default, we can help protect your rights. Protecting yourself against a deficiency judgment is another important consideration when it comes to dealing with bad real estate debt.

In this case, Propublica reports a Georgia homeowner spent two years working out a loan modification. Her bank agreed. The investors who had bought the mortgage-backed securities of which her mortgage was a part also agreed. However, the investor's trustee -- whose job it is to make sure the bank is striking the best possible deal on behalf of investors, refused to accept the deal. The bank HSBC was the trustee for the package of mortgages. And it refused to allow the modification. The case resulted in an unprecedented move. The loan servicer (which the average homeowner knows best as the bank holding their mortgage) has sued HSBC in an attempt to force approval of the modification.

In the meantime, the servicer, OneWest, has also filed foreclosure action.

Homeowners are finding loan modification can be a nightmare. As we have reported, banks have approved temporary modifications, only to reject permanent modification and use the resulting arrears as a reason to foreclose. In other cases, they have resold the note and the new bank has refused to honor the deal.

We are long past the time where a homeowner should deal with their bank expecting a fair deal. Wall Street is reporting banks have gone back to billion-dollar bonuses and million-dollar profits. Meanwhile, criminal investigations into their behavior have been launched in all 50 states -- more for political posturing than out of any real concern for the plight of middle class homeowners.

Consult an experienced foreclosure defense attorney in Miami-Dade. Negotiate from Strength.

Continue reading "More Headaches for those Seeking Mortgage Modification in Miami" »

Well, they have been wrong about just about everything else, so it should come as no surprise that Daily Finance reports banks may well be wrong about how much you owe. It just doesn't get any more basic than that -- another excellent reason why hiring a Miami foreclosure lawyer is the best course of action to protect your rights and the future financial well-being of you and your family.

Help for Miami homeowners should start with a well-qualified attorney. Whether mortgage modification, strategic default, fighting a deficiency judgment or negotiating a short-sale, banks are coming out on top in cases in which a homeowner does not fight for their rights. And, since the government has thus-far given banks a complete pass (even in the case of criminal allegations involving forged ownership documents used in court), hiring an experienced law firm to fight for your rights is the best course of action.

As far back as 2004, there was Congressional testimony that mortgage companies were messing up payment amounts and incorrectly applying payments to mortgage accounts. Now, sworn testimony in a New Jersey mortgage fraud case has revealed that employees for Lender Processing Services were given logins and passwords so that they could access bank records to justify account balances and files.

Testimony revealed the passwords for employees and supervisors were not safeguarded and were commonly used by multiple employees. "Crunch times" also frequently led employees to cut corners, which has led to numerous billing irregularities. In many cases in which homeowners don't challenge the billing, the errors may never be known since the vast majority of homeowners never pay off their entire mortgage.

Meanwhile, the company's system of rewarding bonuses to employees based on speed virtually assures that the problems will continue to occur. Like the rest of Wall Street, bonuses are paid based on volume, without regard to performance, which may lead an employee to "make something up" to get their job done.

LPS is an enormous default servicer, doing more than $1 billion in business last year. It's clients include Bank of America, Wachovia, Key Bank, Wells Fargo and HSBC. Meanwhile, the company does not even charge banks for its work -- it charges the network of lawyers who are hired to foreclose on the bank's mortgages.

So the banks get the service for free.

Continue reading "Banks may be incorrect about how much Miami homeowners owe on their mortgages " »

Well, you heard it here first. We don't expect to beat 60 Minutes to the news very often, but Sunday night's special on how the government's mortgage modification program has provided little or no help homeowners in South Florida is something we have been reporting for months.

We reported on Linda Green and forged mortgage documents back in January. She was listed as a vice president of at least two dozen banks. Instead, she was a $10 hour employee working at a Georgia "sweat shop" that signed thousands of phony mortgage documents.

In fact, the 60 Minutes story focused on just the tip of the proverbial iceberg. Our Miami foreclosure defense lawyers have published a host of other stories dealing with the crisis touched on by 60 Minutes.

Other posts on our Miami Foreclosure Lawyer Blog:

-Deficiency judgments and Miami homeowners.

-Congress votes to shut down HAMP home ownership help in South Florida.

--Mortgage modification continues to lead to foreclosure in Miami.

-Proof of who owns your Miami mortgage may not exist.

-Irresponsible lending caused Miami foreclosure crisis.

-Wall Street operating like the Wild West.

If you doubt South Florida is the epicenter of the foreclosure crisis, watch for the For Sale/Foreclosure signs throughout the video: Most were filmed in Cape Coral.

Continue reading "60 Minutes confirms what our Miami foreclosure attorneys have said for months" »