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Supreme Court Disappoints Lien Stripping Homeowners

At the beginning of this term, there was hope that the United States Supreme Court would issue an opinion in Bank of America v. Caulkett that would provide homeowners with the opportunity for lien stripping second mortgages  during bankruptcy.  Earlier this month, the Court issued its ruling and opinion and those hopes were crushed.  Lien Stripping Background The Court’s decision addressed two consolidated bankruptcy cases with substantially the same facts.  In each case, the bankruptcy de[...]

Florida Foreclosure Statute of Limitations

As we’ve discussed in earlier versions of this Florida foreclosure blog, the law on whether and when a lender can foreclose on the same property more than once is in flux.  The Florida Supreme Court is set to hear oral arguments in Bartram v. US Bank on October 7, 2015.  The court will decide whether the acceleration of a mortgage note by a lender conclusively and irreversibly begins the running of the Florida foreclosure statute of limitations (deadline for bringing a lawsuit). In the inte[...]

Condition Precedent Defenses in Foreclosure Actions: Raise Them or Lose them

Mortgages are contracts under which both the lender and the homeowner, borrower have obligations.  One of the homeowner’s obligations is to make their mortgage payments.  When homeowners are unable to meet this obligation, the lender typically begins foreclosure proceedings.  However, before filing the foreclosure action, the lender typically has contractual obligations, like giving notice of default, which it must comply with before it can file the lawsuit.  The notice and other requireme[...]

Mortgage Relief Act Extension

There have always been legal and practical options for those having difficulty making their mortgage payments.  However, during the housing crisis, legislators and agencies added additional options and programs designed to help struggling homeowners.  As the housing market and economy continue to recover, some of the relief programs and options are beginning to reach their deadlines. Two of the largest such programs, Home Affordable Modification Program (HAMP) and the Home Affordable Refina[...]

New Case Polarizes Foreclosure Statute of Limitations in Florida

Foreclosure Statute of Limitations in Florida NEW CASE PRESENTS HOPE FOR HOMEOWNERS FACING SECOND FORECLOSURE ACTION In an earlier bankruptcy and foreclosure blog, we discussed a case, US Bank v. Bartram,  that was troubling for homeowners.  The case, which was decided by Florida’s Fifth District Court of Appeal, allowed a lender’s second foreclosure action against the same homeowner to move forward despite the homeowner’s argument that the statute of limitations (i.e. time limit for fi[...]