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Tag: debt

POST IN DEPTH: FORECLOSURE FALLOUT How to get your house for free: Rare but possible

Sun Aug 18, 2013 by on Florida Law News

The following article was written by Kimberly Miller – for the Palm Beach Post  and republished with excerpts by  Roy Oppenheim, Oppenheim Law for the South Florida Law Blog. WEST PALM BEACH — Florida’s five-year deadline to foreclose on a home is ticking on thousands of aging cases statewide, giving lucky borrowers a shot at a free house and catching banks with […]

Zombie foreclosures continue: Zombies aren't after us, they're in charge of us

This post by Roy Oppenheim was originally published in Yahoo! Homes and is being redistributed on South Florida Law Blog with their permission. Recently, we won a court victory against one of the nation’s biggest financial players. Our client, who had a $2.5 million mortgage, stopped making payments after the bank forced placed insurance on the home, even though he […]

Strategic Defaulters Are Public Enemy #1 Again (Unless They’re on Wall Street)

Roy Oppenheim’s commentary was originally published on Yahoo! Homesand is being republished on South Florida Law Blog with their permission. Deficiency judgments are probably the last thing any homeowner under threat of foreclosure wants to think about. For the uninitiated, a deficiencyis when the proceeds from a foreclosure sale, or a short sale, don’t cover the balance of the mortgage […]

Saturday Round-Up; Mortgage Debt Relief Extended?; NY Foreclosure Dismissed; Foreclosure Crisis in A Quilt

Bill extends Mortgage Debt Relief Act of 2007 I warned you earlier this month that if you’re considering a short sale, the time to get the ball rolling is now. That’s because the Mortgage Debt Relief Act, which was passed in 2007, is set to expire at the end of this year. If that happens you’ll have to pay taxes […]

Thinking of Doing a Short Sale? Better Act Fast!

Thu Mar 1, 2012 by on Short Sales

It’s a great time to do a short sale. Banks have finally realized they have much more to gain by agreeing to a short sale rather than allowing a home to go through foreclosure.Data released by RealtyTrac today shows pre-foreclosure sales, which are often short sales, were up 15% in the fourth quarter of 2011. It’s easier than ever before […]