Mortgage servicers are issuing more forced-placed insurance on loans secured by Florida properties than any other state. But some borrowers in the state claim that the coverage and premiums are ridiculously high and are taking their grievances to court. Sworn testimony before the United States Judicial Panel on Multidistrict Litigation indicated that forced-placed insurance premiums [...]
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Borrowers Suing Servicers Over Forced-Placed Insurance
July 9th, 2012 
davidguide 
Posted in Business Loans 
Tags: florida mortgages, insurance premiums, Judicial, judicial panel on multidistrict litigation, mortgage servicers, Multidistrict, Placed, post, State, sworn testimony, testimony 
Comments OffJudicial States Bloat U.S. Shadow Inventory
May 10th, 2012 davidguide While the nation’s pool of distressed loans remains historically high, there have been some positive signs with the shadow inventory. Hurting the numbers are states that require judicial foreclosures, where it takes two-and-a-half times as long to clear out non-performing mortgages as it does in non-judicial states. The problem is much worse in the Big [...]
Posted in Business Loans Tags: Apple, Bloat, decade', distressed loans, half times, Hurting, Judicial, judicial foreclosures, positive signs, post, Shadow Comments OffPotential Legislation Could Make Fla. Foreclosures Non-Judicial
September 21st, 2011 davidguide Florida’s governor and leaders of its legislature want to remove foreclosures from the judicial process in an effort to cut down on the time it takes to complete a foreclosure. There is, however, opposition across the isle to the Republican trio’s stance. While foreclosures in Arizona, another state with a high foreclosure rate, take less [...]
Posted in Business Loans Tags: effort, Foreclosure, Foreclosures, Governor, house speaker, Judicial, opposition, republicans, senate president, speaker, State Comments OffJudicial Foreclosures Hinder Florida Recovery
November 5th, 2010 davidguide In the last year or so, California’s housing market, though still weak, has begun recovering, while Florida’s remains on the critical list. Many experts say on key reason is the approach to foreclosure. California keeps things less complicated and largely outside the courtroom, making it easier for banks to seize and resell homes. Florida, like [...]
Posted in Business Loans Tags: approach, Banks, California, courtroom, critical list, Florida, Foreclosure, Foreclosures, Hinder, Housing, housing market, Judicial, list, market, reason, Recovery, year Comments Off
