Miami Lawyer Blog

Consumers have two weeks left to ask for an independent review of their foreclosure cases, an analysis that could result in compensation up to $125,000 if lender wrongdoing is found.

Federal banking officials are overseeing the free reviews on primary residences that were in the foreclosure process from 2009 through 2010.

So far, 474,000 cases nationwide are pending review. The deadline for filing a request is Dec. 31.

Last year, the Office of the Comptroller of the Currency and other agencies ordered 14 mortgage servicers to address problems with their foreclosure practices.

"The orders directed the mortgage servicers to fix what was broken, identify who was harmed and provide remediation," said Bryan Hubbard, spokesman for the Office of the Comptroller of the Currency.

Ads by Google
Obama Mortgage Relief
Homeowner Mortgage Relief Programs Free Loan Modification Consultation
GetYourMortgageModified.com
Compensation ranges from a few hundred dollars up to $125,000 in the most egregious cases, Hubbard said. In rare instances, homeowners may have their foreclosures overturned, he said.

The reviews will be conducted by neutral third parties. Homeowners who ask for reviews or accept any money do not give up their rights to later sue their lenders, Hubbard said.

What's more, the reviews are not just open to homeowners who lost their properties in foreclosure. Those who completed short sales or who later brought their mortgage payments current would be eligible as long as their lenders served them with foreclosure papers at some point.

ClearPoint Credit Counseling Solutions, a Virginia-based agency with an office in Miami, is working with consumers to complete their applications. ClearPoint is a housing counseling agency approved by the Department of Housing and Urban Development.

"We help them with the paperwork," said Isabel Duran, a certified housing counselor with ClearPoint.

During the height of the housing crisis, homeowners complained of improper foreclosure practices by lenders.

In late 2010, bank employees admitted under oath that they rubber stamped foreclosures without knowing the details of the individual cases.

That prompted some banks to temporarily freeze foreclosure filings and later led to a $25 billion national mortgage settlement between five major lenders and 49 state attorneys general.

The foreclosure reviews are part of an enforcement action by federal officials and are not affiliated with the $25 billion settlement.

Longtime Miami housing analyst Lewis Goodkin said the reviews are important, even in the cases that do not reveal any lender fraud.

"There won't be any giveaways, but to me, it accomplishes something," Goodkin said. "It gives the homeowners fair treatment."

About the Law Offices of Aaron Resnick, P.A.

The Law Offices of Aaron Resnick, P.A. is a full service boutique law firm with offices in Miami, Boca Raton, Gainesville/Ocala, Jacksonville and New York City. For additional information, please go to www.thefirmmiami.com, or call 305.672.7495.

The Electronic Frontier Foundation's Alison Dame-Boyle has a good post on Victoria's Secret bad-tempered attempt to censor a campaign by the feminist group FORCE: Upsetting Rape Culture, which parodied the "Sure Thing" and "Unwrap Me" underwear that Victoria's Secret sells to high-school students with its PINK line, replacing the slogans with phrases like "Ask First" and "Respect."

Victoria's Secret used takedown notices to get FORCE's web-host to shut down its site, to get Twitter to yank the FORCE's @LoveConsent account, shutting down the dialogue about consent and rape just as it was gaining momentum. It's a sobering reminder of the power of copyright takedown rules to be used to censor political speech, and of the fragility of free speech in an era where the entertainment industry has lobbied successfully for laws that allow censorship without a court order.

Though nothing was down for long--the site was only down briefly as FORCE moved to a different hosting provider and the Twitter account was back up by Friday, December 7--even the brief downtime hurt the campaign. FORCE had purposefully launched PINK Loves CONSENT immediately prior to the fashion show to capitalize on the publicity surrounding the event, which attracted nearly 10 million viewers. During the show, tweets about body acceptance and the importance of normalizing a culture of enthusiastic consent made #loveconsent the number one hashtag associated with #victoriassecret. The Facebook page was similarly inundated. FORCE was able to use Victoria's Secret's popularity to raise awareness and generate discussion about rape culture on an unprecedented level. When its Twitter account and subsequently its websites were taken down, that discussion was interrupted at a vital time.

These takedowns highlight, once again, the weakest link problem that plagues Internet speech. Individuals and organizations rely on service providers to help them communicate with the world (YouTube, Facebook, Twitter, etc.). A copyright complaint to an intermediary generally triggers a virtually automatic takedown, because the intermediary has a strong interest in complying with the Digital Millenium Copyright Act (DMCA) and preserving its safe harbor from copyright liability. A trademark complaint directed to one of those providers can also mean a fast and easy takedown given that those service providers usually don't have the resources and/or the inclination to investigate trademark infringement claims. Moreover, because there is no counter-notice procedure, the targets of an improper trademark takedown have no easy way to get their content back up.

Terry Gene Bollea v. Gawker Media, LLC - USDC M.D. Florida

The United States District court for the Middle District of Florida denied the motion for preliminary injunction by Hulk Hogan to compel removal of sex tape from website and to prevent tape from being posted on other websites, finding that tape was a matter of public concern protected by the First Amendment.

Plaintiff Terry Gene Bollea, known professionally as the wrestler Hulk Hogan, sought a preliminary injunction against defendants Gawker Media and related entities, requiring defendants to remove excerpts from a sex tape of Bollea and a woman not his wife that defendants posted on Gawker.com on or about October 4, 2012, and to prevent defendants from posting any portion of the sex tape on any other website. The district court denied his motion.

According to Bollea, six years prior to this case, he engaged in consensual sexual relations with a woman who was not his wife and the encounter was videotaped, allegedly unbeknownst to plaintiff. Defendants obtained a copy of the sex tape and posted excerpts of it on their website without Bollea's permission. Defendants allegedly have refused numerous requests from Bollea to remove the excerpts from the site. Bollea filed suit against defendants, asserting a number of claims including invasion of privacy by intrusion upon seclusion, publication of private facts, violation of the Florida common law right of publicity, intentional infliction of emotional distress, negligent infliction of emotional distress and copyright infringement, and filed a motion for a preliminary injunction.

The district court held that a plaintiff seeking a prior restraint on speech must establish that the restraint will be effective and that no less extreme measures are available. Bollea failed to overcome the presumption that the preliminary injunction would be an unconstitutional prior restraint because defendants' First Amendment rights override plaintiff's right of privacy. Noting the U.S. Supreme Court had recently recognized that the heart of First Amendment protection is speech on matters of public concern, the court reasoned that the sex tape constituted a matter of public concern, demonstrated by Bollea's public persona, his reality television show, his own book describing his affair, and his own public discussion relating to his marriage and the tape, and that the inappropriate or controversial nature of the speech does not affect whether it is a matter of public concern. The court also found that plaintiff was not entitled to a preliminary injunction because he failed to demonstrate that he would suffer irreparable harm if the tape were not removed. Embarrassment and economic loss do not justify a preliminary injunction, according to the court. In fact, noting the Supreme Court has repeatedly recognized that even minimal interference with the First Amendment freedom of the press causes an irreparable injury, the court found that compelling the removal of the tape from the website would disserve the public interest. In addition, the court concluded that this was a case in which "the proverbial 'cat is out of the bag[,]'" since the tape had already been posted and injunctive relief likely would be ineffective.

Chapter 7 Bankruptcy In Miami - Some Vital Things To Consider

Following the recent economic turmoil of 2008, scores of people as well as businesses have been trapped in a vicious cycle of debt. With the escalating prices of fuel, gas, food, electricity and every other essential item, it's quite obvious to see individuals struggling with an enormous amount of debt. If you're a resident of Miami and facing a similar debt situation, don't fret. These days, there are plenty of debt relief options available in the market. Based on a debtor's monetary situation, one may choose to go for debt consolidation, debt settlement, debt management and at times even bankruptcy. Although bankruptcy is not always the best solution to all your debt problems, it provides you with an opportunity to wipe away most of your debts. When you're contemplating bankruptcy, there are several legal questions that you need to take into consideration. The decision to declare bankruptcy is a very personal and tough one. Every debtor contemplating bankruptcy must find answers to the basic legal queries concerning bankruptcy. When you gather sufficient legal information, it'll be easier for you to decide whether bankruptcy is the best debt relief option for you.
Once you file for Chapter 7 bankruptcy in Miami, your finances will be reviewed by the bankruptcy court, and your property may even be sold off to repay your creditors. Then, a majority of the outstanding debt gets discharged. When a particular debt is discharged, the creditor has no further claim on you, even though you ultimately collect sufficient money to repay your creditors. However, in certain cases, filing Chapter 7 bankruptcy could be a big mistake. Therefore, think before you file.

See if Chapter 7 is the best means of protecting you from your creditors. In case you owe back taxes, student loans, child support or alimony, you won't be able to discharge those debts. As for mortgage debt, it can be discharged, but the debtor won't be able to keep the home since the collateral will go back to the mortgage lender or bank as compensation for the deficit payable by the debtor. Besides, Chapter 7 won't discharge debts due to deceit, driving under influence charge or excessive credit card usage just before filing bankruptcy.

Evaluate your property against Florida's catalog of exemptions to see whether it's at risk. Even though your property can be sold off by the court to repay your creditors, every state excuses certain types of assets, up to a specific dollar level, from sale. In Miami, no matter how much your home's value, it is exempted. However, you cannot claim in excess of $1,000 in personal property, together with equipment or tools you require for your job.

Check whether you qualify for Chapter 7 bankruptcy in Miami. Your income for the last six months before filing should be typically less than the Florida median, or you need to pass a special "means test" when your earnings are adjusted for expenditures. You also need to enroll in a credit-counseling session in the last six months ahead of filing. However, you are prohibited from filing if you've undergone a bankruptcy petition dismissal in that particular six-month period.

Guest Author : Mary Williams is the Community Member of Oak View Law Group and has been contributing her suggestions to the Community since 2009. Not just that, she has also made notable contributions through the various articles written on different subjects related to the debt relief, credit consolidation, bankruptcy, etc.

Article Excerpt
Double Play: Sports Arenas Add Upscale Nightclubs
BY ARIAN CAMPO-FLORES

Miami At a growing number of sports arenas, sky boxes are no longer enough.

The Miami Heat recently unveiled Hyde American Airlines Arena, a spinoff of the Hyde Lounge nightclub in Hollywood, Calif. On opening night in October, suited doormen manned velvet ropes. Electronic dance music pulsed from the sound system. Waitresses in short red dresses served cocktails and dishes like wagyu steak to patrons on leather banquettes.

"It's amazing," says Aaron Resnick, a 40-year-old attorney who spent halftime with a group of friends sipping Champagne and nibbling on sushi. "This is bringing the glitz and glamour of South Beach" ...

Continue reading article with pop up player

http://online.wsj.com/article/SB10001424127887323751104578149351057748048.html?mod=googlenews_wsj#articleTabs%3Dvideo

Resnick is the managing partner of the boutique law firm, the Law Offices of Aaron Resnick, P.A., and founder of Faction Capital. His law practice concentrates on business and commercial matters, and sports and entertainment law. His current practice also includes the personal representation of a number of current and former professional athletes in the National Football League, the National Basketball League and Major League Baseball, as well as members of the arts, fashion and entertainment world.

Resnick, a graduate of Leadership Miami, is a leader in the Miami's legal and cultural arts scene. Resnick was awarded the "Shining Star" Award by the Arts & Business Council of Miami, Inc. This award each year honors the top Miami business professional supporting the arts and cultural community. Resnick was the founding chairperson of the Friends of the New World Symphony, and now serves permanently on its Executive Committee. He served on the executive committee for numerous young patron groups in South Florida including, but not limited to: Best Buddies of South Florida, Big Brothers Big Sister's Impact Circle, Art Crowd of the Bass Museum, the Green Room Society for the Center for Performing Arts, the Tropees of the Historical Museum of Southern Florida, the Jewish Legal Society of Miami, and the MOCA Shakers amongst others. He is a Regional Board Member of the Maccabi World Union and a member of the Ben Gurion Society of the Greater Miami Jewish Federation.

Currently, he is a member of the Silver Director's Circle for the Bass Museum,the President's Circle for the Museum of Contemporary Art, the Maestro's Circle for the Friends of the New World Symphony, and a Supporting Member of the Adrienne Arsht Center for the Performing Arts (and a member of the Green Room Society). Resnick is a board member of the Little Lighthouse Foundation, www.littlelighthouse.org, which is a Miami based charity that seeks, identifies and provides support to children and their families with health, educational, and financial challenges. Mr. Resnick received his Bachelors of Arts in Political Science with honors from Emory University and a Juris Doctor with honors from the University of Florida.

About the Law Offices of Aaron Resnick, P.A.

The Law Offices of Aaron Resnick, P.A. is a full service boutique law firm with offices in Miami, Boca Raton, Gainesville/Ocala, Jacksonville and New York City. For additional information, please go to www.thefirmmiami.com, or call 305.672.7495.

Homeowners facing foreclosure just received an early holiday present: They won't be evicted from their homes over the holidays.

Mortgage giants, Freddie Mac (FMCC, Fortune 500) and Fannie Mae (FNMA, Fortune 500), announced Monday that they will suspend all bank repossessions beginning December 17 and December 19, respectively, and will not resume the evictions until January 2, 2013.

"The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year," said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae.

According to Freddie spokesman, Brad German, the suspension will not affect other pre- or post-foreclosure activities, such as the filing notices of default or the scheduling of auction sales. Fannie said in its press release that other legal and administrative proceedings will also continue.

Bank of America (BAC, Fortune 500) said it will also put a halt to foreclosure evictions both for loans it owns and for those it services for investors during the holiday period. Other large mortgage lenders, including JPMorgan Chase (JPM, Fortune 500), Wells Fargo (BWF), and Citibank (C, Fortune 500) have postponed foreclosures during the holidays in the past, but have yet to say whether they will do so again this year.

The reprieve is separate from the previously announced moratoriums on foreclosure evictions for victims of Superstorm Sandy in New York, New Jersey and Connecticut, which will continue through February. To top of page

Good news for single family home investors, rehabbers and buyers seeking to use low-down payment FHA financing: The temporary waiver of FHA's 90-day "anti-flipping" rule was extended last week through 2014.

The waiver, which facilitates purchases of homes from sellers who have held title to their properties for less than 90 days, continues a policy first adopted by the Obama administration in 2010.

Starting in 2003, FHA had imposed the 90-day standard as part of an effort to rein in rampant quick-flips of houses, where investors made minimal or no improvements to rundown, foreclosed or abandoned houses, then sold them days or weeks later at high price markups with the help of inflated appraisals to purchasers using FHA loans.

Those flips frequently involved collusion and fraud by teams of mortgage loan officers, realty agents and appraisers -- even straw buyers who defaulted and disappeared without making a single payment -- and racked up significant losses to FHA's insurance fund. Neighborhoods suffered because the properties remained empty and in bad physical condition, depressing values of houses in the immediate vicinity.
Article continues below

Since 2011, FHA has made annual extensions of its waiver. This year, an FHA official told me Friday, the agency opted for a two-year term in order "to provide greater levels of certainty" for lenders and buyers, removing questions about whether, and for how long, the waiver would be continued. Since the first waiver in 2010, according to the official, FHA has successfully insured $11 billion worth of mortgages on 65,250 homes where the seller had held title for less than 90 days.

In a Federal Register notice Nov. 29 announcing the extension, acting FHA commissioner Carol J. Galante said the objective is to increase "the availability of affordable homes for first time and other purchasers, helping stabilize real estate prices as well as neighborhoods and communities where foreclosure activity has been high."

Among the key requirements that will continue during the latest waiver:

All transactions must be arms-length, with no identity of interest between the buyer and seller or other participants. Lenders are required to ensure that the seller actually holds title to the property. (In earlier flipping schemes, buy-sell transactions sometimes moved so fast that the seller never acquired legal title.) There should be no "pattern" of previous flips of the property during the 12 months preceding the transaction.

In cases where the sales price of the resold property is more than 20 percent more than what the seller paid for it, there must be documentation showing the renovations and repairs that justify the markedly higher resale price. A second appraisal may be used to substantiate the increase in value, but the second appraiser must be selected from FHA's roster. When no significant renovations occur and the price is 20 percent higher than acquisition, the appraiser must provide "appropriate explanation" for the sudden increase.

Inspections are required of all the key components of the building structure and systems when price jumps exceed 20 percent. The inspection report must be provided to the purchaser before closing. If the inspection reveals structural or "health and safety" defects, repairs must be completed before the closing and a final inspection performed to ensure that the repairs have been made.

Real estate professionals and others involved in single family investment activities welcomed the latest extension and its two-year time span. Kevin Kim, an agent with Windermere Preferred Living in Brea, California said "this definitely benefits my investors, but it's also good for communities" where high rate of foreclosure have left properties sitting around in deteriorating conditions.

Kim said most of his investor clients do not exceed the 20 percent price-increase threshold -- "typically it's more like 10 to 12 percent" -- but they virtually all try to acquire, renovate and resell in less than 90 days.

Cathy Bureau, broker-owner of Green Home Realty in San Antonio, Texas, who specializes in the central areas of the city, says FHA's two-year extension assures investors that there will be takeout financing for buyers, thereby cutting costs on the "hard money" line of credit financing they use to acquire their houses. At interest rates of 14 to 16 percent, "every day costs money," she said, so for investors the ability to sell quickly after completing repairs is crucial.