Skip to comments.March 6th - ForeclosureHamlet.org & 4closureFraud.org LIVE FORECLOSURE FRAUD RADIO
Posted on 03/06/2011 6:31:46 AM PST by Chunga85
This weeks guests will be Lisa Epstein and Michael Redmond from foreclosurehamlet and 4closurefraud.
From 12pm to 1pm on Power Talk 1420 AM Joann Hennessy's Property Law Today we will be discussing the upcoming 2nd Annual Rally in Tally, and other fraudclosure related topics.
(Excerpt) Read more at foreclosurehamlet.org ...
Florida legislature (supported by the banking lobby) tries to pass a bill to co-opt the judiciary while no one is looking ping.
In a non-judicial foreclosure state, such as Georgia, the process is on average 60-90 days, though it could be as fast as 40-45 days. That non-judicial process begins when the lender reaches a decision point to initiate the foreclosure, and that typically happens after a homeowner is past due on 5-6 months worth of payments. So, while the process is shorter, it is still nothing like an instantaneous surprise sprung on the borrower.
In Florida (and Wisconsin) these extended periods of legal limbo (where the borrower lives rent free for 2+ years, or the house sits abandoned for 2+ years) simply exaggerate the impact of that foreclosed property on surrounding home values.
An approach like that used in Georgia establishes procedure and only becomes judicial when an exception occurs. Florida and Wisconsin (and other states) presume that all foreclosures need to invoke the full judicial process. The added costs are not just the additional negative impact on market values from the extreme delay, but also the enormous administrative costs and the impact of the delay in the non-foreclosure civil calendar of these courts.
And before you post recommendations for Joanne Hennessey's radio program, check her Florida Bar disciplinary history.
I’m surprised she hasn’t been disbarred for talking about property law. Thanks.
I see no reason to consider Hennessey's reputation anywhere near as bad as that of, say, David Stern..
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