Property Tax Appeals

In Florida, property tax assessments are adjusted once a year. On January 1, the property value and the total tax owed are set for that year. However, there is a method by which to reduce your total tax assessments. To obtain a tax reduction during the year, you must show that the property was overvalued at the time that the value was set which is January 1. Sometime in August of this year you will receive what is called a TRIM notice (truth in ...
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Florida Deed in Lieu of Foreclosure

When negotiating a Deed in Lieu of Foreclosure in Florida be sure to  have the lender agree to waive or release you from  any deficiency in the difference between the mortgage amount owed and the ultimate market value of the property. This will prevent the lender from suing you in the future for that deficiency. A Deed in Lieu of Foreclosure will provide you no benefit unless you receive a waiver or relase of the deficency. ...
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Florida Foreclosure Defense

Just because you are not able to pay your mortgage it does not mean that you do not have a right to defend a foreclosure in Florida. In defending a foreclosure, it is imperative to review all of the documents that you have in your possession from your closing. There are various federal laws and state laws that require lenders to comply with in closing a home purchase, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. ...
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New York Times Quotes Ray Garcia

On Sunday March 1, 2009, the New York Times wrote an article regarding Ana Fernandez, who's home had been sold by the bank, however, the Law Office of Ray Garcia, P.A. in its representation of Ms. Fernandez was able to set aside the sale and set aside the summary judgment. The bank, Chevy Chase failed to produce the Note and there was no eveidence that the originating lender had assigned the Note to Chevy ...
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HSBC Loses at Summary Judgment In Broward County, Florida

In HSBC v. Socorro Hernandez, Case No.: 08-53265 filed in the 17th Circuit Court for Broward County, Florida, the Law Office of Ray Garcia, P.A. prevails on HSBC's Motion for Summary Judgment.  Judge Rothschild in Broward County, Florida denies HSBC's Motion for Summary Judgment and allows homeowner Socorro Hernandez to continue to defend the foreclosure filed against her. ...
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How Banks Are Worsening the Foreclosure Crisis

  By Brian Grow <http://www.businessweek.com/print/bios/Brian_Grow.htm>, Keith Epstein <http://www.businessweek.com/print/bios/Keith_Epstein.htm> and Robert Berner <http://www.businessweek.com/print/bios/Robert_Berner.htm>   The bad mortgages that got the current financial crisis started have produced a terrifying wave of home foreclosures. Unless the foreclosure surge eases, even the most extravagant federal stimulus ...
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$3.4 Million Dollar Jury Verdict In Las Vegas For Wrongful Foreclosure

By Carmen Dellutri on Janaury 28, 2009 A Las Vegas Jury recently awarded a family $3.4 million in a wrongful foreclosure case.  As you can guess, this wasn’t your everyday foreclosure.  It kind of reminds you of the McDonalds hot coffee case.  After testimony, the Jury found that Countrywide Home Loans, Inc. wrongfully foreclosed on the Plaintiff’s condo and awarded the Plaintiff $922,690 in compensatory damages and $2.5 million dollars in ...
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Florida Fair Lending Act

The Florida Fair Lending Act, Chapter 494, Florida Statutes, prohibits predatory tactics on high cost home loans, including: * Charging prepayment penalties for longer than three years * Increased interest on loans going into default * Balloon payments on loans that mature in less than 10 years * Extending credit regardless of a borrower's ability to pay * Making direct payments to home improvement contractors * Calling a loan due even ...
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Bankruptcy

Individuals can file for bankruptcy in a federal court under Chapter 7 ("straight bankruptcy", or liquidation) or Chapter 13 (a "consumer reorganization", or debt adjustment case). (Although individuals can technically file Chapter 11 bankruptcies, those filings are rare. They typically happen if the individual's debt load is too high for a chapter 13 and they do not qualify for a chapter 7). In a Chapter 7 bankruptcy, the individual is allowed ...
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Condo Deposit Recovery

There are various legal requirements that a Florida condo developer must comply with in order to offer for sale condo units and if your developer fails to carefully follow some of these legal requirements, you may be able to terminate your contract for purchase. For example, under the Interstate Land Sales Full Disclosure Act ("ILSFDA") or Florida law, you may have the right to terminate the contract for your pre-construction condominium or ...
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