According to the Monitor Bank Rates Website, when home sales were increasing by double digits and practically anyone could get a mortgage without trouble. There was literally a shortage of foreclosure properties from which to choose. Today that is no longer the case, especially in California, Florida and Texas where there is a large amount [...]
Florida Supreme Court is overburdened with foreclosure cases and is calling for 68 new judges to manage the pile. The cases also relate to increasing criminal activities arising from abandoned foreclosed units. The Supreme Court made this report to the Legislature. The request is for additional 29 circuit judges and 39 county judges. No new [...]
Despite the stimulus rolling in, Florida is facing budget crunches and the situation is grim. Although there have been cuts in property taxes, changes in insurance rules as well as foreclosure relief attempts, it is a tough job for budget writers. The boom years have receded to a foggy past.
On Tuesday 3rd March [...]
The scene in courthouses is awesome – the courts are staggering under the weight of foreclosure cases.
Lee County courtroom depicts a typical scene. The judge asks the defendant if he or she is current in mortgage payment. The answer is invariably negative. Next the judge wants to know if the accused is living [...]
The increase in foreclosures are triggering off snaking breadlines – a shame to the individuals and the society.
Lehigh Acres was one of the worst affected regions in Florida because it was dependent on construction. The first sign of trouble was garage sales and property auctions in Lehigh Acres. The families began selling off whatever [...]
Peter Zalewski is a busy man handling lots of properties. In South Florida he has for sale 110,000 houses of which 55,000 are foreclosed and 19,000 owned by the banks. 68% of the units are in the distressed category. Somebody has to do the cleaning up and here is where Peter’s firm, Condo Vulture Realty, [...]
Some unscrupulous attorneys are taking advantage of the foreclosure crisis to dupe their clients. Norman Sanders Moss, an Orlando attorney, was hired to recover money for homeowners from the sale of foreclosed properties as well as tax deed foreclosures. Instead of keeping the money in a trust account and disbursing it among his clients, he [...]
The foreclosure crisis has negatively impacted new veterans in a bad way.
The story of Andrew Spurlock is one of the many. After being thrown off a roof in Iran his career in the army as a veteran infantryman came to an end. Forgetting the past and the pain of the back injury he chalked [...]
