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Monthly Archives: February 2009

President Obama Speaks about the Economic Crisis as Lost Promissory Note Defense to Foreclosure Tops Google Searches

Wed Feb 25, 2009 by on Florida Law News

The President made it abundantly clear last night that one of the bailout’s fundamental purposes is to help troubled homeowners who need to refinance their homes, thereby preventing foreclosure. Yet one of the most popular Google searches yesterday concerned one’s ability to delay or stave off a foreclosure by demanding the foreclosing bank produce the original Note. In fact the […]

Obama to Florida's Foreclosure Rescue? or Not?

Wed Feb 18, 2009 by on Florida Foreclosures

Today the Obama Administration dipped its big toe into the foreclosure quagmire by announcing a number of moves that will try to keep people in their homes who still have jobs or income. Therefore, residents experiencing Florida foreclosure will be able to modify their loans, refinance, or with Congressional approval, modify the amount owed to the banks in bankruptcy. President […]

Mortgage Forbearance on the Horizon: Obama Following His Gut and Major Banks Follow

Fri Feb 13, 2009 by on Florida Law News

It appears that the financial markets are taking their cues from the President as opposed to the Treasury Secretary. This week we saw the major equity markets tumble as the Treasury’s half-baked Bailout II Plan was partially unveiled. But most importantly, the markets started to respond– first yesterday- after the President began to dust off the history books and talked […]

Moral Hazards: Rewarding the Stinkers!

Mon Feb 9, 2009 by on Florida Foreclosures

People are constantly asking me how we got into this economic mess, which is a byproduct of so many folks in foreclosure. My answer is simple… but direct … how did we get into Iraq? The answer is who cares? How do we now get out? But there is a striking difference between these two fiascos: The economy and Iraq […]

Every Cloud Has a Silver Lining

Fri Feb 6, 2009 by on Florida Law News

Ok… so as more folks go into foreclosure (I always have to put this in… LOL) and the news of bailout salary caps trickles or more likely barrels through the Ivy League Halls, we are already seeing some pleasant “surprises” or anticipated consequential behavior. The top minds at our top schools, and our true national treasure, may actually choose livelihoods […]