Remember last summer when Chief Judge Blanc defined the role of the court not as adjudicating cases based on law but “… to clear the foreclosure cases so that vacant and dilapidated homes can go back on the market, presumably increasing neighborhood property values.” ?
Let’s see how he’s doing in his self-appointed REO management role…
by Kim Miller
In checking the status of Ben-Ezra & Katz foreclosure cases, The Post stumbled upon the fact that foreclosures handled by the Law Offices of David J. Stern are still going to auction in Palm Beach County with no advertisements in the Daily Business Review and no bank representation.
So far this month, 41 homes have sold at auction to investors who got super deals because, in some cases, they were the only ones bidding.
They’re not likely to get those “steals” because there was no bank attorney to put in the legally required advertisements about the auction, but they might not figure that out until they head down to the courthouse and are refused a certificate of sale.
The Palm Beach County Clerk of Court will not issue a certificate of sale without proof that the auction was advertised once a week for two consecutive weeks before the sale.
But, while proof of advertisement is required before the sale, the lack of proof is not enough to cancel a sale.
That’s all outlined in an administrative order from Chief Judge Peter Blanc issued back in May 2010. At the time, the concen was that banks were not publishing the advertisements as an easy way to have the sale canceled. The AO also says that banks have to appear before a judge with a motion to cancel a sale before it can be removed from auction.
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