Quote from Zig Ziglar
June 1st, 2010
“If you don’t have daily objectives, you qualify as a dreamer.” Zig Ziglar
Archive for June, 2010
June 1st, 2010
Home Owner Keeps His Home Even After Foreclosure
June 1st, 2010
This is part I of an article by Neil Garfield. While this isn’t Southern California real estate housing news, it is significant for any SoCal home owners who are in default or whose home has already actually gone to foreclosure. You should know this:
Posted on May 25, 2010 by Neil Garfield
WHOA! Florida Judge Wipes Out Homeowner’s $207,000 Mortgage! Read the Transcript: 5 25 10 fla miami transcript Bailey voids mortgage
Editor’s Note: Don’t expect this result every time but we are turning the corner. Also don’t tell the Judge you are there for a free house. Tell him or her that you want the benefit of the bargain you struck with the lender and the seller. You want to pay but you don’t want to pay someone who is not your creditor, who is not authorized to collect from you, and is not turning the money over to the creditor. Deny that any payments are due — your answer to “have you made all your payments? deny they have done a proper accounting for all receipts from all sources that should have been posted toy our account.
WHOA! Florida Judge Wipes Out Homeowner’s $207,000 Mortgage!
Today, May 25, 2010, 3 hours ago | Foreclosure Fraud [wha]t Orlando Eslava wanted from his lender was a loan modification to make his payments affordable. Instead, he got his $207,000 mortgage wiped out — and a crash course in the confusing way foreclosures are unfolding in a court system chock-a-blocked with cases.
The teacher was Miami-Dade Circuit Court Judge Jennifer Bailey, who cancelled Eslava’s debt after lender HSBC Bank USA ignored her previous order to post a $414,000 bond.
Bailey said the actions of William Huffman, HSBC’s lawyer from Tampa-based Florida Default Law Group, were “contemptuous,” according to a court hearing transcript.
SEE ATTCHED TRANSCRIPT
HSBC’s run-in with Bailey began in December 2009 when she granted the lender’s motion for the foreclosure sale of Eslava’s one-bedroom unit at El Dorado Tower in Aventura. But HSBC lost the note on Eslava’s property. So the judge ordered the lender to post a $414,000 bond to indemnify Eslava in case another lender filed a claim against the unit.
According to court records, HSBC and Florida Default did not post the bond and proceeded with an April 9 foreclosure sale that gave the lender title to the condo.
Eslava and his lawyer, Sheleen Khan, sought to overturn the sale, claiming the lender violated Bailey’s court order. At a May 6 hearing, Bailey dismissed the foreclosure case with prejudice, which prevents the lender from suing Eslava again. The judge also canceled the mortgage and ordered HSBC to return title of the condo to Eslava.
“None of us is above the law,” Khan said. “This is a landmark ruling.”
In addition to canceling the mortgage, Bailey chastised Huffman, according to a transcript of the hearing obtained by The Daily Business Review.
The rest of the story, part 2, will follow later this week. Stay plugged in.