Upscale “Deadbeats” | Florida Mansions Take Longer to Foreclose, Repossess

“It’s the bank’s black magic that is perverting the marketplace.”
Matt Weidner

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Florida mansions take longer to repossess

Even when they face foreclosure, the well-to-do fare better than those who own less expensive houses: They get more than eight extra months of free living as their cases slog through the courts.

Floridians in foreclosure with mortgages of at least a $1 million live rent-free in their houses for about 1,029 days, according to an analysis by data provider Lender Processing Services. Those with mortgages of $250,000 get 248 fewer days.

April Charney, a foreclosure expert with Jacksonville Area Legal Aid, said one reason stands out for the longer foreclosure process on pricier homes.

“Those owners can afford more lawyers,” she said. “They have options. Most of my clients clean those houses.”

Real estate experts cite several other reasons for the longer foreclosures:

Find out what these “real estate experts” think the reasons are here…

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4closureFraud.org

Comments
14 Responses to “Upscale “Deadbeats” | Florida Mansions Take Longer to Foreclose, Repossess”
  1. lvent says:

    Hey everyone… I thought I would lighten the mood a bit..I think we can all use a good laugh right now so I am going to try and post this talking dog you tube video…I think it relates to fraudclosure in the way that we all need a good laugh because all of their evil crap is such a big joke and such a big manufactured lie and a fraud..!

  2. Rebelwithaclause says:

    Why isn’t there more people on this planet that gets it like you Ivent? When will people think for themselves? This is for you Ivent, I’m. Asking for your opinion, as I do respect you and your wisdom. So I currently live in a northern state, have had enough of winter and love Florida myself. So I went to Florida last month found a home in the area my daughter and I want to be in, it is a REO, Fannie Mae property. I put an offer in and after going back & forth we agreed on a price, $175,000 set to close in mid April. After getting back home and doing some research on the property it has no doubt been illegally foreclosed on through chase with very fraudulent forms from NTC w/infamous robo signers Crysyal Moore, & others. My concerns are I could be walking into a trap, I’m paying cash it’s all of my savings and technically, the original owners have been wronged and illegally foreclosed on. Well you think what about title ins. Which i’m going to get and not the co. They suggest, which they own, oh & you have to wire the money 3 days before closing, this is the only payment method they accept. So at closing I’m sure they will sneak in an addendum stating they have no guarantee that there will not be any other legal claims on the property, Wells Fargo is already slipping this in at closing. It is clear they are selling something they don’t own.

    For me I was illegally foreclosed on with never missing a payment & only owing $32,000 on a $180,000 I fought for 3 years & beat them. Now I’m moving on, we are getting a fresh start, I have almost everything out of my house and my daughter is going to start a new school in Florida, I’m very concerned that I could be getting into a bad position, and I feel I owe the money to the original home owners who have been damaged, they are still in the same county and are now getting a divorce ( the horrible trickle down effects of fraudclosure ) so is there a way to get this in front of a judge before I was to wire the money. Please give me your thoughts. Thank you.

    • lvent says:

      @Rebelwithoutaclause, Thank You for the very nice compliment. I am so very concerned about what these hidden commies are trying to do to the American people and the U.S.A..

      Regarding buying a foreclosure. Have you had a title search done on the property? We all know that there is fraud in everyones title… I don’t know what State that you are in but, in Illinois there is a Mortgage Certificate of Release Act where the Title Co. can release the mortgage on a cloudy title to the next Title co. or the next owner if you were paying cash, by a letter called a “hold harmless agreement.” I don’t know how trustworthy anything is anymore and I would say that there is always a risk in buying a foreclosure as fraud vitiates everything……Now if it were a short sale directly with the current homeowner then, the title would be clear by the owners signature…The only entity who can legally clear the title is the homeowner with their signature…The attorneys are not so trustworthy either as they will tell you just about anything to make a sale for the banksters….so best be cautious regarding buying a foreclosure.. Best of Luck to you regarding your next move to a warmer climate…!

      • Rebelwithaclause says:

        invent: THANK YOU, I was thinking I would get title insurance picking the company myself, also if I did a forensic audit, it may give me the answers I need. This family lived in this home since 1997, raised their family there. I spent time in the neighborhood when I was looking at the house, the next door neighbor, an elderly sweet, sweet man, told about the family (they were hard workers, good parents) now they are evicted &getting a divorce. How terrible, how wrong, and how frequent this has become. 1 time is 1 time too many, and all for the almighty dollar. Another broken family, more kids growing up w/ divorced parents. The core of Americans is their family and home. How many years will this Lawless, racketeering organized crime trickle down from its horrific nightmare, as how many years for our military, fallen soldiers and wounded soldiers, fighting a war we shouldn’t be.

        Well I guess my question would be, who is a honest forensic audit co. And title co.? Thank you

      • lvent says:

        Best of Luck to you Rebelwithoutaclause with your purchase…!!! We who get it realize buyer beware is everywhere with housing right now, so you will be fine…just be cautious and know how to protect yourself.

    • Joe Gaffney says:

      The problem is, until a court of competent jurisdiction becomes involved – which could occur at any time in the future – the legal title to the house will continue to be in jeopardy. (In fact, the titles to many thousands of houses may stay in jeopardy for several centuries!) You can’t pay the past owners as the system will not permit that to pass through it (you’ll not get title). As far as the system is concerned at this moment, everything is in its proper place. As far as the system (which transfers legal title to real property) is concerned, any deal you make outside of it, will be irrelevant.

      A title policy may even have language that excludes any possibility of making someone whole again, after the purchase of property that has a toxic title that arises at some future time. It is important to choose a title insurer correctly as even the strongest insurer can go bankrupt. A strong title insurer, such as First American, may write insurance on so many of these that they effectively downgrade themselves into insolvency. In that case, your protection would more than likely be lost. Depending upon title insurance is going to be a crap-shoot from now and well into the future.

      You would be better off trying to find a house that has no title problems.

  3. Joe Gaffney says:

    That’s all quite interesting but highly irrelevant. That fact is, neither the foreclosing bank, nor the judge had the legal right to adjudicate this case, more then likely, unless this case was peculiar. Unless the very same bank that was foreclosing was the (original or assigned) “true lender” and had not previously securitized this mortgage loan – whatever the subsequent entity, it had no legal standing to foreclose. Period. Of course, that’s the motivation behind robo-signing.

    Even though trench-coat judges have and do adjudicate such proceedings (usually entirely wrongly) there has got to come a time when they are no longer permitted to make up the law as they go along. The fraudulent scammers, who trolled through the bank’s offices and picked up information about homeowners who had gone delinquent out of the banksters’ garbage cans, are exactly that. They are fraudulent scammers. And, they have brought many of our judges into their scams with them, by what cannot be called by any other name than, “bribery,” in my opinion.

    If the mortgage loan was “securitized,” there is no more (original) Note. It was supposed to have been destroyed at the time of securitization to prevent unlawful double-dipping in the future. And, only the good Lord knows where the original Mortgage is. Without a “wet-ink Note and a wet-ink Mortgage” there is no one – no person, entity, bank, or servicer – that has the true right of foreclose. Once bundled into MBS’s, sliced, diced and sold as stocks, only the millions of investors have the presumptive right of foreclosure. But, not even then, for the scheme is nothing more than the buying and selling of bits and pieces of each MBS. That is how their money (profit) is to be made from then on. Even if a few loans in a bundle go sour, those un-foreseen circumstances were foreseen and were backed up by either insurance or the REMIC trustee, or both. That is the limit of any exposure to legal consequences for a homeowner’s failure to continue paying on a mortgage.

    It is too bad that the inventers of this scheme did not foresee the subsequent inflationary period, then Bernanke’s over-zealous attempt to stall out that inflation, that resulted in the too rapid economic down-turn. It is this down-turn that then caused housing values to drop through the bottom, to where they are now. And, of course, it has caused the near collapse of our Nation’s economy. Does anyone not understand that none of this is the fault of any homebuyers? It is only the fault of homebuyers by a “great leap.” That great leap is based upon the assumption, by most people until recently, that true securitization had not taken place. Most people still believe that if I take out a mortgage loan with Bank of America, it is Bank of America that is lending the money, and now it has a huge hole that needs to be filled back up by my payment stream.

    The truth is, that hole was filled back up often before the hole had even developed! Not only was the hole filled back up, but it was over-filled by the millions of investors who desired to make as much as they could on their portfolios of mortgage-backed securities. You see, THERE IS NO LENDER WITH A HOLE THAT REQUIRES RE-FILLING ANY MORE. The buyers of the MBS “stocks” are now the people who take on all the risk – and that risk is minute.

    The best thing that could be done at this point, is to stop foreclosing on all MBS bundled mortgage loans, and by some process of orderly distribution, give the owners of the homes their houses back – FREE and CLEAR. There will continue to be more than enough borrowers who will pay on their perceived mortgages, so the scheme will probably not unravel. In time, maybe 10 – 15 years from now, things can return to normal, a new way of lending on mortgages so that the money lent will be quickly replaced will be figured out, and the problem of millions of toxic titles will be fixed – except for the already toxic titles that will continue to be a problem for forty – fifty years to come.

    I don’t think that the current methodology – that of letting the pain and suffering work itself through the system – is ultimately going to work. Oh, I am sure that’s the current thinking. And, both banksters and politicians are buying into it.

  4. Jason Werner says:

    It is impossible to REPOSSESS something you never owned prior to the existing owner owning it. Therefore, there is no such thing as a bank repossessing a house; a bank can only possess it.

  5. StuckinSoPa says:

    Oh well, as the old saying goes “All men are created Equal”.

    Some will ALWAYS be more equal than others.

    Money talks, and talks LOUD when that non bailed-out $million+ property shows up on the bank’s balance sheet in the negative column and threatens somebody’s bonus this.

  6. lvent says:

    I dont know what state you that you live in Liberty and Justice…but, that judge sounds like a Nazi Commie…and he obviously needs to be put in his place by THE AMERICAN PEOPLE…WHO FUND AND PAY FOR EVERYTHING IN THIS COUNTRY…INCLUDING HIS SEAT ON THAT BENCH…

    It is a real shame to hear that Liberty and Justice was sitting in court waiting to be FRAUDCLOSED ON…! WHERE WAS YOUR ATTORNEY…? BECA– USE IF YOU HAVE ONE…THEY ARE NOT FOLLOWING THE RULE OF LAW..AND IF YOU DONT HAVE ONE…YOU HAD BETTER DO YOUR HOMEWORK..!

  7. Liberty & Justice says:

    I was sitting in a court room waiting for my own foreclosure to happen when a case was called up. The defendant was a very handsome man (aka Jackass) , in up scale attire and may I add freshly cut hair (no locks cut on my head in over a year!) stood up. The judge read the usual information on this mans property, how long it’s been since he’d made a payment, 42 months, how much the county had to pick up in taxes, the value of his mortgage, just shy of 2 million, etc. Then he asked the defendant why he stopped paying on his home. This jackass said “it’s not worth what I bought it for” So the Judge did not appreciate that and said somewhat snarky “So what would you like the court to do about that?” This Jackass said “Let me live there until I can figure something out.” When the Judge asked him about his homes location being water front, the size of the home, and how the taxes are not being paid by him or at all, and how he had 42 months to ‘figure something out’ the Jackass said something along the lines of how he loved living there and the taxes are not accurate since it’s based on the sale price of the home and it’s not worth what he bought it for. So the Judge told him he had enough time to live in this waterfront home, for free and not paying taxes on it. This Judge had just handed out 60 days to vacate orders to several other families. Judge told Jackass he would be setting a vacate date for him as well. Jackass interrupted the Judge to tell him he needed 6 months to move. The judge looked at Jackass and made it a point to belittle his request for 6 months. He said ‘I don’t live in a mulitmillion dollar water front home, or a million dollar property, yet you have for the last 3 1/2 years for free. Your order is to vacate in 30 days, not 31, 30.’

    So I applaud this one particular Judge for not allowing this guy to hang on any longer. However, with all the many cases I have sat in on. This situation was never repeated.

    Everyone should be treated fairly. Including the “Upscale Deadbeats” But I am glad this guy had his time cut down to 30 minutes.

    Point of my post is this. When going into a court room watch what comes out of your mouth, check your ego at the door and hire an attorney to do your talking.

    • lvent says:

      @Liberty and Justice, from what I have seen so far in fraudclosure court.. It is .the Judges and the bank attorneys are who should check their egos and their evil ideologies at the door.AND FOLLOW THE RULE OF LAW……It is WE THE PEOPLE who fund and pay for everything in this country..including the Judges salarys and we fund many of their pension plans with our mortgage payments…THAT IS PRECISELY WHY FRAUDCLOSURE IS UNCONSTITUTIONAL AND ILLEGAL..AND SHOULD HAVE BEEN HALTED AT LEAST 3 YEARS AGO……….

      As far as I am concerned, these judges and these politicians should be in prison by now…for treason..and taking and allowing the taking of the homes of the AMERICAN PEOPLE with NO LEGAL ASSIGNMENT..AKA THE LEGAL TRUST AGGREEMENT……AND OTHER FRAUDS..LIKE SECURITIES FRAUD….

      JUST BECA– USE THIS MAN HAS AN EXPENSIVE HO– USE DOES NOT MEAN THE RULE OF LAW SHOULD BE IGNORED AND NOT UPHELD…BUT IT WOULD BE IN HIS BEST INTEREST TO DO SOME HOMEWORK ABOUT THIS NAZI, COMMIE FRAUDCLOSURE SCAM… …

      As far as finding an attorney to stand up for homeowners property rights…THEY WON’T…THE ATTORNEYS ARE BRAINWASHED OR MEMBERS OF THE BIG CLUB OR THEY ARE INVESTED IN THIS PONZI SCHEME AS WELL…and this so called arrogant jackass that you speak of…pays to fund the court houses and everything this Judge does…in everything that he does…SO WHO ARE YOU CALLING ARROGANT…??? UNLESS THIS SO CALLED ARROGANT JACKASS IS NOT AN AMERICAN CITIZEN, I DEFEND HIS RIGHT TO DEFEND HIS CONSTITUTIONAL AND HIS LEGAL RIGHTS…AND THE JUDGE SHOULD RESPECT THAT THIS MAN IS TELLING THE TRUTH TO THE JUDGE….
      BECA– USE….THIS WAS A MASSIVE CRIMINAL PONZI SCHEME COMMITTED BY THE FEDERAL RESERVE BANKSTERS…AND FUNDED AND PAID FOR BY THE AMERICAN PEOPLE…AND NOW IT IS ABOUT TIME THAT THE FEDERAL RESERVE BANKSTERS BE HELD ACCOUNTABLE…AND PAY BACK THE AMERICAN PEOPLE….FROM THE BANKSTERS OWN ILL GOTTEN GAINS…NOT FROM ROBBING ALL OF US…….

      Now, regarding property taxes…..I do not know about other states..but THE LAW in the State of Illinois…..AKA…THE LAND OF LINCOLN……AND OBAMAS HOME STATE….under ILLINOIS MORTGAGE FORECLOSURE LAW…AKA….IMFL….THE PARTY THAT BRINGS THE FRAUDCLOSURE SUIT MUST PAY THE PROPERTY TAXES FOR AS LONG AS THE CASE IS IN LITIGATION……..

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