Have you received a verbal forbearance of your mortgage payment?  But nothing else?  Mortgage servicers have certain responsibilities by law.  If you have received a verbal approval of your mortgage forbearance, but haven’t received anything in writing confirming this, not to mention advising what terms are, payment restart date etc. you have recourse under various consumer laws. Reg X 1024.41(c)(2)(iii) requires a servicer to confirm the terms of the forbearance in a written notice sent to the borrower promptly after the forbearance is granted.  A servicer is also required ..read more

What to expect if you cannot pay your mortgage – This timeline comes directly from the Department of Housing and Urban Development, in other words, HUD: First month missed payment: The lender will contact the buyer by a letter or phone. Second month missed payment: The lender will begin calling to discuss why payments have been missed. At this point, the buyer might be able to make a payment to prevent further acceleration. The post Running Behind in Your Mortgage Payments? Here’s a Timeline of What to Expect. appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blo ..read more

Once you get out of the habit of making a mortgage payment, it’s hard to get back to making that large payment every month.  This is particularly true, with student loans also restarting payments now. What do we do that can help solve this problem for you? We litigate mortgage claims, assert consumer defenses when available and defend foreclosures in Florida.  State law relating to foreclosures vary widely and we limit our practice strictly to Florida for mortgage related issues, generally in the counties surrounding Tampa Bay.  We’re a member of a local Tampa Bay foreclosure de ..read more

The regular FHA HAMP loss mitigation programs will remain in suspension until October 30, 2024 – next year!  All foreclosure sales are to be suspended until the same date.  Same with Deed in Lieu negotiations. So what does that mean? All borrowers who are already in default or at risk of imminent default are supposed to be evaluated under the expanded guidelines of the Covid 19 Recovery Option program.  These provisions could be terminated early by Congressional action, executive or agency rules. The post Expansion of Covid-19 Recovery Loss Mitigation Options/Loan Mods — Qualify ..read more

DO YOU NEED ASSISTANCE WITH DELIQUENT OR SOON TO BE DELINQUENT MORTGAGE PAYMENTS? IS YOUR HOME AT RISK DUE TO A PENDING FORECLOSURE? HAVE YOU BEEN TURNED DOWN FOR A LOAN MODIFICATION IN THE PAST? The post Foreclosure Help appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog ..read more

“When do you need a foreclosure attorney?” was one of our highest performing videos last month.  That has motivated me to prepare a series of blogs, guides and new videos to help consumers learn about their options and what they should be aware of when they are behind in their mortgage payments.  This information is not intended to help someone represent themselves in a foreclosure action.  That can get complicated and most people are not well suited to litigation.  But this information should help a homeowner know what options are available, where to turn, timelines, and l ..read more

The FHA Covid-19 Forbearances allow for reduced or suspended payments without specific terms of repayment, for six months at a time, up to 18 months.  Deadline for applications was May 11, 2023.  The end of the health emergency is now over.  If you’ve lost your income, job change or divorce for instance, you may have qualified for this relief. A FHA Covid-19 Modification is called Advance Loan Modification.  If a mortgage loan is in forbearance, the review will occur within 30 days of forbearance ending.  For those mortgage loans are not in forbearance, if the loan is ..read more

Lenders will often try to get a note and mortgage into evidence with a simple endorsement in blank of the promissory note.  This can be defeated. The mortgage is the issue. A mortgage follows a “note” but a mortgage does not follow a non-negotiable instrument. Since Florida Statutes Ch. 673 does not apply, the transfer of the mortgage is governed by chapter 679, which requires a written assignment. The attempted transfer of the non-negotiable instrument should be ignored. The post Fighting Foreclosure of a HELOC? appeared first on Reboot Your Life: Tampa Student Loan and Bankruptcy Attorn ..read more

I know I posted about this before, but it bears repeating as I fear many homeowners will lose their home to foreclosure if they don’t know about this very important rule change last summer. Important new change for opposing MFSJ for those living in Florida.  Don’t expect to just show up at the hearing and argue — this rule will prevent anything you say from helping you. Take a look at the 4th Circuit case which I believe is the first ruling on the amended MFSJ rule.  Page 4:  https://www.4dca.org/content/download/839898/opinion/212397_DC05_06082022_101625_i.pdf The post Avoid Fo ..read more

Some borrowers run into trouble with their mortgage companies that is not of their own doing.  One thing the mortgage servicer likes to say is that it isn’t their problem, the prior servicer handled that – and the borrower is still in default or owes some fee. However, the subsequent servicer has liability for this. State v Family Bank of Hallandale, 667 So2d 257 (Fla. 1st DCA  1995) is a case that can be used to show subsequent servicer liability:  The law is well established that an unqualified assignment transfers to the assignee all the interests and rights of the assignor i ..read more