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orlando loan modification

Mediation is No Guarantee of a Loan Modification

by Moe Bedard

In fact, some mediators caution foreclosure cases aren’t even true mediations. There’s little to no negotiation that occurs at the table, said Fort Lauderdale real estate attorney and foreclosure mediator Shari Olefson.

In many cases, a homeowner’s finances are simply uploaded into a lender’s

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Florida Loan Mod Firms Will Soon Need a License: It’s About Time!

by Moe Bedard

The clock is ticking for unlicensed companies trying to entice home buyers to modify their mortgages. Or demanding an upfront fee to help them out.

Come Jan. 1, anyone who provides loan modification services must have an active license from the Florida Office of Financial Regulation. The rule is part of a law passed by the [...]

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Florida Attorney General Sends Big Banks a Message

by Moe Bedard

TALLAHASSEE, FL – Attorney General McCollum today sent a letter to the Florida executives of Bank of America, JP Morgan/Chase, Wells Fargo and Wachovia, calling upon the bank executives to provide homeowners with a fair and efficient loan modification process. The Attorney General also requested the executives meet with him to discuss the banks’ responsibility [...]

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Mediation will force banks to be accountable

by Moe Bedard

“The mediation insures a stopgap measure,” Castrataro said. “It insures that the bank will have to listen.”
Castrataro said he’s seen mediation assist clients in obtaining loan modifications, reductions in their principal owed and, in cases where foreclosure cannot be avoided, a significant reduction in the amount of debt they owe long term. He believes mediation [...]

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Record Number of Complaints Target Florida Loan Modification Lawyers

by Moe Bedard

As the state’s foreclosure crisis continues, loan modification and foreclosure defense have been become hot specialties for some attorneys. The state attorney general has received a record 756 complaints through August of this year about loan modifications involving attorneys. That compares with 61 similar complaints in all of 2008.
“There has definitely been a trend in [...]

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Mortgage modifers must be licensed under new Florida law

by Moe Bedard

Homeowners will have more protection beginning Jan. 1. That’s when a new law passed by the Legislature this year will require all unlicensed modifiers, loan originators and mortgage lenders to get a broker’s license through the state’s Office of Financial Regulation.
The statute, which brings state laws in line with the 2008 federal mortgage licensing act, [...]

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