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Tag: banks

Trillions of Assets are at Stake With the 2021 LIBOR Deadline

Fri Aug 4, 2017 by on Florida Law News

LIBOR being phased out by 2021

The $400 Trillion Question: What Will Replace Interest Rate Benchmark LIBOR? The LIBOR (London Interbank Offered Rate), used as an interest rate benchmark for nearly $400 trillion in assets ranging from student loans to mortgages, now has its execution date scheduled for 2021. With its replacement all but certain, it is understandably causing some concern as to how this will […]

Zombie Foreclosures Never Die

Tue Mar 3, 2015 by on Florida Law News

If you thought they were gone, think again. The foreclosure phenomenon known as a ‘zombie foreclosure’ has proven that it is here to stay. A zombie foreclosure occurs when homeowners leave their homes when they receive a notice of foreclosure only to find out years later that the bank decided not to foreclose on the property; leaving title in the […]

Senator Elizabeth Warren Blitzkriegs CitiGroup & Wallstreet

Tue Dec 23, 2014 by on Florida Law News

Massachusetts’ Senator Elizabeth Warren gave a series of resounding speeches in opposition to a recent provision passed in the 2015 federal budget “Cromnibus” spending bill.  The contested provision weakened the Dodd-Frank law, thereby allowing big banks like CitiGroup to gamble on risky investments with taxpayers’ money.  Such a provision is not unique to the 2015 “Cromnibus” spending bill, in fact […]

The economy is up, foreclosures are down but re-foreclosures are also up

Tue Jun 10, 2014 by on Florida Law News

As the Florida real estate and general economy are improving, with average sales prices increasing, the number of foreclosures dropping and unemployment also increasing a funny thing happened as we continue through this recovery: re-foreclosures are up. Re-foreclosures you ask?  That’s right. A re-foreclosure is when the bank for whatever reason dismissed the first foreclosure or in some cases homeowners […]