Foreclosure defense- how does an attorney beat a foreclosure suit?

I found this interesting document through searching for info on foreclosure defense, and loan modifications. With the rise in mortgage defaults attorneys that specialize in foreclosure defense have plenty of work
Most people that I meet with are interested in first a "principle reduction loan modification". They are having a tough time keeping up with the mortgage because of lower income, interest rate resets, or they just realize that they are severely upside down in their home. I do not see many instances where the homeowner has been successful in reducing the mortgage balance.
It makes common sense that the current home owner is really the best person to own the home most of the time. I am only there because they were denied a reasonable loan modification, or they really need to move. That''s when the foreclosure defense attorney can potentially help.
In working short sales I have seen there effect is mostly stalling a foreclosure sale and responding to homeowners being served foreclosure papers.
This guide gives examples of cases where Judges have actually reduced or wiped out mortgages on defendants properties! ( which is really what everyone really wants!)
Anyway, this makes for an interesting read into the world of foreclosure defense, and I thought I would post it as a resourse for consumers to get educated, and other agents to gain knowledge. It is written by an attorney for other attorneys so be prepared.
http://www.miamidade.gov/csd/library/foreclosure_dtlrespa.pdf
Let me know what you think.

Sales in Manatee County are up 16%. 5 Reasons why.

In September there were 433 homes that were closed compared with August's 361 here in Manatee County, FL.

That is an INCREASE of 16.2% from the prior month!

This is noteworthy because this is supposed to be the SLOW season. No vacationers, no snowbirds, kids are in school, Holidays coming, etc.

I listed 4 new listings in September and all 4 had offers with the month. All but one went pending, but that last one is still in negotiations.

Three offers written in the past month have been in multiple offer situations. It seems that the buyers are realizing that we have hit the "bottom".

You do not need to be an economist to see that the supply of inventory here is going down, and also that sales, contracts are increasing. Except for January and February of this year, there has not been less than 500 homes go pending in a month. Last year the highest month was under 350 units.

5 MAIN REASONS FOR THE RECOVERY IN MANATEE COUNTY, FLORIDA

1. Home owners who can afford their homes and do not need to move are not on the market.


2. Banks REO departments are bringing the REO homes on the market at barely a trickle.


3. The "pent-up demand" from three years of a "bad" FALLING MARKET, has hit a breaking point. At some point those that need to buy, will feel that they can't wait anymore.


4. KILLER DEALS are here. I have sold two homes in the past three weeks that are 50%-25% of their 2005 Prices!


5. Resale homes are priced well below replacement cost. One home that I put under contract for 525,000 had to have almost 700,000 for home owner' coverage. The buyer complained for a minute, but quickly realized this is a very, very GOOD thing.
   

When you are ready to buy or sell- Think of us!

Joe and Molly Murphy www.manateemoves.com
941-780-3260