Dieppa Law BlogLoan Modification
Miami Dade’s Division 50 Shutting Down in June
The Miami Herald reported today that Miami Dade County’s Division 50 is shutting down at the end of June. Division 50 is made up of retired judges who temporarily returned to handle foreclosure cases. Using a grant to fund Division 50, the number of back logged cases declined as older cases (2009 and older) were set [...]
Are Banks Forgiving Debt?
Most clients seeking loan modification ask whether or not the bank may forgive any of the debt. For the past two years, it has been very rare that I have seen debt forgiveness on the table. My first experience with debt forgiveness has been with Ocwen, which was the first servicer to offer a share [...]
FDIC Supports Changes to Regulation of Loan Servicers
FDIC Chairwoman Sheila Bair made a speech on Jan. 19, critical of the mortgage loan industry and of loan servicers in particular. As I commented before, the industry is simply not geared for mass loan modification for the millions of distressed or delinquent mortgages. The servicers are financially rewarded for delaying modifications, while the loan [...]