Fannie Mae to stop foreclosure work done by South Florida lawyer

POSTED ON OCTOBER 27, 2010 BY GEORGE

South Florida foreclosures are more akin to a rollercoaster than a court proceeding; or at least that seems to be the national perception. If you recall, just last week I discussed Bank of America’s decision to restart its foreclosures in Florida and a number of other states. See: http://www.farr.com/blog/2010/10/south-florida-foreclosure-freeze-set-to-ease/.  Yesterday, Fannie Mae announced it would halt foreclosure work done by the law firm of infamous South Florida attorney David Stern pending the outcome of an investigation by Florida Attorney General Bill McCollum. See: http://www.reuters.com/article/idUSTRE69P0BY20101026.  Unfortunately, Fannie Mae and Bank of America’s seemingly conflicted sentiments continue to inject doubt into the public’s perception of the foreclosure process and of the attorneys who litigate them. As a side note, for a laugh (and an incredibly textbook tale of foreclosure dodging) check out Boca Raton accountant Joseph Lents who was originally foreclosed on in 2002, but has managed to stay in his 1.5 million dollar home without making a payment for the past 8 years: http://www.bloomberg.com/news/2010-10-21/how-joseph-lents-dodged-foreclosure-for-eight-years-and-started-a-movement.html.

Posted in Articles | Tagged: Real Estate