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Politics

Florida foreclosure case could slam banks

May 10, 2012

NEW YORK (Reuters) - The Florida Supreme Court is set to hear oral arguments Thursday in a lawsuit that could undo hundreds of thousands of foreclosures and open up banks to severe financial liabilities in the state where they face the bulk of their foreclosure-fraud litigation. The court is deciding whether banks who used fraudulent documents to file foreclosure lawsuits can dismiss the cases and refile them later with different paperwork. ... full story

More news

Florida court finds for bank in major foreclosure case

NEW YORK (Reuters) - Florida's highest court has ruled a homeowner cannot re-open a voluntarily dismissed foreclosure case despite allegations that the bank falsified documents, giving a win to banks in a closely watched ruling that could have affected thousands of cases in a state hit hard by the foreclosure crisis.

reuters.com (3 months and 16 days ago)

Passidomo's foreclosure reform bill clears Florida House, awaits Senate vote

The foreclosure bill — House Bill 87 — shortens the time period that banks can collect losses from five years to one; requires banks to produce the note at the time of the foreclosure; and allows lien holders, like a homeowner association, to initiate the foreclosure process.

naplesnews.com (26 days ago)

Editorial: Help courts, not banks, to resolve Florida’s foreclosure crisis

State courts must deal with nearly 1 million foreclosure cases over the next three years. They need money from the Florida Legislature, not a bad bill.

palmbeachpost.com (2 months and 13 days ago)

Banks dawdle in foreclosure court

Banks are the biggest barriers to speeding the foreclosure process in Florida because they let cases linger in the courts and continue to present flawed documents, the state courts administrator told a Senate subcommittee this week.

palmbeachpost.com (2 months and 19 days ago)

Florida ranks second in foreclosure activity nationally with auctions ramping up

Foreclosure auctions hit a 30-month high in April nationwide and jumped 55 percent in Florida from last year as banks and courts move more quickly to repossess homes.

palmbeachpost.com (17 days ago)

Florida first in foreclosure woe for fifth straight month

Florida ranked first in foreclosure activity for the fifth consecutive month in January as new mortgage defaults and foreclosure auctions skyrocketed in Palm Beach County.

palmbeachpost.com (3 months and 10 days ago)

Regulators Feel Heat on Foreclosure Pact

The revelation that big U.S. banks made more foreclosure mistakes than regulators disclosed is leading to fresh scrutiny of the government's handling of investigations into banks' mortgage practices.

wsj.com (2 months and 24 days ago)

Taxpayers foot the bill for bank foreclosure costs in $1 billion homeowner help plan

Banks are getting tens of millions of taxpayer dollars through Florida’s key foreclosure prevention program to pay down borrower debt, but are also using the money to pay off their own attorney’s fees and other costs associated with taking back people’s homes.

palmbeachpost.com (7 days ago)

Video: Banks begin paying victims of foreclosure abuse

Banks and mortgage companies have begun sending checks as part of a settlement with the government to compensate borrowers harmed by practices including excessive foreclosure fees and forged documents. Wyatt Andrews reports.

cbsnews.com (1 month and 12 days ago)

Uptick in Foreclosures: Florida Leads Nation

According to real estate data-supplier RealtyTrac, U.S. foreclosure starts increased 2 percent from February to March, the second straight monthly increase following three consecutive monthly decreases. Florida, Nevada and Illinois posted the highest foreclosure rates for the first quarter, according to RealtyTrac's March and first quarter U.S. Foreclosure Market Report....

abcnews.com (1 month and 13 days ago)

Florida foreclosure case could slam banks

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