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16 Dec

More Fraud in Foreclosure Cases: Florida Investigates Process Servers Practices

The Florida Attorney General’s office (AG), along with State regulators, are investigating two process servicing companies that deliver foreclosure notices to homeowners, on civil allegations of slipshod business practices. Process servicers are persons who have been certified to administer “service”, that is the official delivery of legal papers on parties, witnesses or other people involved in a case. Failure to deliver these documents to the defendant homeowner, can result in the homeowner losing its home without the benefit of the judicial process. Attorney Rafael A. Gaitan, at Gaitan Morales, PLLC, represents homeowners at risk of losing their homes.

28 Oct

Foreclosures up 44% in Charlotte area

According to RealtyTrac Inc., the Charlotte metropolitan area experienced a 43.9 percent jump in residential foreclosures in the third-quarter when compared to the same period last year. In the third quarter of 2010, some 4,956 homes in the Charlotte-Gastonia-Concord region were reportedly in the foreclosure process, making the Charlotte metro area the 73rd in the

07 Oct

Wells Fargo settles deceptive loans claim; over 4,000 Florida borrowers will be eligible for loan modifications

Florida Attorney General Bill McCollum today announced a multi state agreement with Wells Fargo Bank over allegations of deceptive marketing practices of adjustable rate mortgage loans (POA’s) made by its subsidiaries, Wachovia Corporation and Golden West Corporation. Under the settlement agreement, Wells Fargo has agreed to offer loan modifications to 8,700 borrowers in eight states,

06 Oct

N.C. attorney general urges lenders to suspend foreclosures

Through a News Release issued on October 6, 2010, N.C. Attorney General Roy Cooper announced that he is calling on 14 mortgage lenders to suspend foreclosures in North Carolina until they can show that their affidavit procedures have been reviewed and are in compliance with the law.

04 Oct

Florida foreclosure rate still ranked second highest among all states

On October 4, 2010 Realty Trac reported that “Florida foreclosure activity decreased, year-over-year, for the fifth straight month in August, but the state’s foreclosure rate still ranked second highest among all states.” This August, The number of Florida housing units receiving a foreclosure filing went up 10 percent when compared to July, accounting for nearly

03 Oct

Foreclosures hit close to home for South Florida residents

According to an ongoing online survey by the South Florida Business Journal, nearly half of participants were “experiencing foreclosure or knew of a neighbor or someone on their block facing that situation.”

Category Archives: Real Estate