Lenders Can Legally Resume Stalled Foreclosures

by San Antonio Attorney

Homeowners of South Florida are highly likely to receive a delayed notice of foreclosure after the lenders were allowed to revive stalled cases.

The lenders are given the opportunity to refile foreclosure lawsuits against homeowners, especially those who are still in default.

Last month, the Supreme Court in Florida approved lenders to refile their foreclosure cases against homeowners.  This applies for cases dating more than five years ago, which goes beyond the statute of limitations.

Jerry Tepps, a Sunrise-based defense lawyer specializing in foreclosure, said that this new ruling gives the bank more privilege to bring back old cases.

However, not a lot are enthusiastic with the new ruling.

Adam Broder, a homeowner, spent almost $386,000 for a two-bedroom condominium located in Delray Beach.  The purchase occurred prior to the collapse of the housing market in 2005.

Broder stopped his mortgage payments last 2009, hoping to receive a mortgage modification.  Unfortunately, the lender filed a foreclosure case which was dismissed voluntarily.

Broder expressed his desire to settle the case and move forward but the ruling prevents him from doing so.

Adam Broder is just one of the hundred Florida homeowners who will face foreclosure as an effect of the outcome of Bartram v.  U.S.  Bank National Association.

Craig Waters, the official representative of the Supreme Court of Florida, said that the officials don’t depend on a sharp increase of foreclosures as a result of the ruling.  Waters added that it was even unusual for the judges to throw out cases as stipulated by the statute of limitations.

The administrator of the Office of the State Courts anticipated more than 61,900 foreclosures will be filed for the fiscal year 2016-2017.  The number of foreclosures is not expected to increase in the next five years.

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