August 21, 2014

Fannie Mae Florida Deficiency Judgments

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It took longer than I had anticipated but it has now officially arrived – a real life nightmare for thousands of homeowners who simply walked away from their upside-down Florida home.  They knew the bank would foreclose but they thought that would be the end of it.  Now they realize this is just the beginning, as the mortgage behemoth Fannie Mae has hired creepy debt collector company Dyck O’Neal to pursue deficiency judgments through the Florida courts.  The Palm Beach Post reports:
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“People are getting served with these deficiency suits and are absolutely shocked,” said Paul Baltrun, director of corporate development for the Law Office of Paul A. Krasker in West Palm Beach. “The size of the judgments — we’re not seeing $30,000 — these are at a minimum of $100,000.”
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But there is a silver lining for those of you who are presently upside-down and facing foreclosure.  A short sale can provide a full release of liability meaning once it’s closed you no longer owe anything to Fannie Mae or her creepy red headed step-child Dyck O’Neal.
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August 10, 2014

BofA HIN Short Sale Incentive Still Pays

Filed under: Florida,Short Sale
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My client went missing for three weeks and then called me out of the blue.  I asked him where he was living and he said on the street.  I said you mean you are sleeping outside on the ground?  He said no, i sleep in a cardboard box behind the Cumberland Farms on Seminole Boulevard.  I said why aren’t you living in the house?  He said i didn’t know i could.  I said i’m coming to get you right now.  OK, I’ll pack my bags he says.
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I pull up to the Cumberland Farms on Seminole Blvd and there he is with a glad trash bag filled to the max about four feet tall.  We put it in my trunk and my trunk still smells today.  Anyways, brought him back to the house and explained that BofA’s short sale letter states that you may be eligible for $5,000 if you live in the house.  He wrote a handwritten letter that i attached to the HUD that was submitted stating he was now living in the house.
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BofA tried a couple times to get me to remove it but fortunately they agreed to pay it in the approval letter i received today even though they knew he wasn’t living in the house at the time he made application.
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I think this $5,000 is going to change his life.

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