Zombie Foreclosures are No Hoax, Especially to Unsuspecting Homeowners

 

 With Halloween just around the corner, the words, zombie foreclosure, may seem like holiday terminology. But for over 7300 homeowners in the state of California, zombie foreclosures are very real. A report by Realtytrac states that as of January 2015, California has the fifth highest number of zombie foreclosures, up 24% from a year ago….

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The Law Offices of Jason W. Estavillo, PC Stops 4 Wrongful Foreclosures

 

 According to a recent article in the New York Times, almost 7 million people have lost their homes to foreclosure since home prices peaked nearly 10 years ago. With the threat of foreclosure still looming over the heads of hundreds of thousands of homeowners who have not been able to afford their mortgages, the fear…

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Victory for Homeowners: Court of Appeal Rules in their Favor to Recover Attorney Fees under the Homeowners Bill of Rights

 

 On June 12, 2015, the California Court of Appeals for the Third Appellate District ruled in favor of homeowners who incurred attorney fees and costs as a result of stopping the foreclosure process of their homes. The ruling, Monterossa v. The Superior Court of Sacramento, Case No C077683 2015 WL 3653319, was issued after the…

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Foreclosure Law Firm Butler & Hosch Shuts Down

 

 Butler & Hosch, one of the nations largest foreclosure law firms shut their doors last week. The Firm, founded in 1972, had offices in multiple states and was handling up to 60,000 foreclosure cases when it closed. The employees were notified of the closing on May 14 through a memo issued by Bob Hosch, CEO of the firm,…

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Judge finds in Favor of Homeowners in Case Against Citibank

 

 A colleague of the Law Offices of Jason W. Estavillo and founder of Foreclosure Defense Nationwide¸ Jeff Barnes, Esq., was successful in Florida Circuit Court where the Judge ruled in favor of the homeowners in a securitization case where Citibank was the “indenture trustee” for a Bear Stearns securitization. The homeowners’ expert witness Richard Kahn,…

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Obama Announces Measure to Lower Mortgage Insurance Rates

 

 In an effort to help the housing market, Mr. Obama announced his decision to introduce a measure to lower mortgage insurance rates on federally issued mortgages. The new measure Measure is intended to aide hundreds of thousands of people across the country purchase homes.  The measure could offer savings of around $900 for each home buyer…

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State of New York awarded $150 million dollars in Foreclosure Settlement

 

 Ocwen, an Atlanta-based firm, will pay New York’s Department of Financial Services (DFS) $150 million awarded due to their wrongful foreclosure activity. According to a court filing, the lawsuit accused Ocwen of commiting fraud by overcharging borrowers in order to drive up its own profits.  The suit stated that Ocwen’s practices “exemplify how America’s lending…

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The Federal Housing Finance Agency Announces New Post Foreclosure Policy

 

 The Federal Housing Finance Agency (FHFA) recently announced a new policy allowing homeowners who lost their homes to foreclosure the opportunity to buy their properties back at current market value if the properties are owned by Fannie Mae and Freddie Mac. This is a big step forward as previously the policy required the owners to…

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Foreclosures on the Rise

 

 According to CNBC, the number of borrowers losing their homes is rising again. 123,109 properties were reported to be in some state of foreclosure during the month of October representing a 15% increase from September. At The Law Offices of Jason W. Estavillo, we represent homeowners who are being foreclosed upon by financial institutions that are…

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Every Day, Another Home Disappears into Foreclosure

 

 The reality of foreclosure litigation: If you have been threatened with foreclosure you need to know that the latest foreclosure laws can protect you and your home. For example, it is illegal for a bank to foreclose upon you if you are in an active loan modification review. Also, did you know that Under the…

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