Ocwen $2 Billion Principal Reduction Settlement

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In December, 2014, Ocwen Financial Corporation and Ocwen Loan Servicing along with Litton Home Servicing and Homeward Residential Holdings (previously known as American Home Mortgage Servicing or AHMSI)  entered into a consent order with 49 States and the District of Columbia to provide $2 billion in principal reduction to underwater borrowers and provide $125 million to foreclosure victims as a result of Ocwen’s systemic misconduct at every stage of the mortgage servicing process.  If they think you qualify for a cut a notice package has been mailed to you. http://www.ncbrc.org/blog/2014/07/10/claim-forms-available-in-ocwen-settlement/

How to apply  https://nationalocwensettlement.com/

http://www.consumerfinance.gov/blog/claim-forms-for-the-ocwen-settlement-available-now/

Where to apply:

https://nationalocwensettlement.com/mainpage/ClaimForm.aspx

National Ocwen Settlement Administrator with questions at 1-866-783-5382, Monday through Friday, 7:00 a.m. – 7:00 p.m. Central Time

Claim forms submitted by mail must be postmarked by September 15, 2014.

Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761             Phone: (727) 410-2705;   email: calh@gate.net

 

Agile Assur Group, Ltd v Palmer

Foreclosure Manual
Agile Assur. Group, Ltd. v. Palmer, — So. 3d —-, 2014 WL 2151971 (Fla. 2d DCA 2014).
Contracts must be read in their entirety, and doing so can require the word “may” be  interpreted as mandatory instead of permissive. A contract clause may require the contract not be interpreted against its drafter, and such provision is given effect.
 This  is the first case in Florida to require that ambiguities in a contract be interpreted neutrally (meaning not against the drafter of the contract) even if the drafter created the ambiguous contract. This is bad news for the Defendant.

Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761             Phone: (727) 410-2705;   email: calh@gate.net

Order 11th Cir – Lodge v. Kondaur – stay violation that causes emotional harm can be “actual” damages under 362(k)

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Consumer debtors claimed violation of the bankruptcy stay based on a “Notice of Sale” that was published in a local newspaper, and in letters that they received from law firms.  The sale was canceled but debtors did not learn that until later.

Although two separate motions for relief from stay were filed by two different “creditors”, the motions were never ruled on and the stay remained in effect throughout the bankruptcy proceedings.  After discharge, the debtors sued seeking  damages under § 362(k) for their emotional distress.

The First, Seventh, and Ninth Circuits have ruled that emotional damages are encompassed within the  “actual” damages provision in § 362(k).  The Fifth Circuit has indicated agreement with this determination.

The Ninth Circuit set up a test for courts to apply when considering whether a plaintiff can recover damages for emotional distress:

1. the plaintiff suffered “significant harm,” as opposed to “[f]leeting or trivial anxiety or distress”;

2. that significant harm is “clearly establish[ed]”; and

3. there is “a causal connection between that significant harm and the violation of the automatic stay (as distinct, for instance, from the anxiety and pressures inherent in the bankruptcy process).”

The Ninth Circuit explained that the second part of the test can be covered by corroborating medical evidence or non-expert testimony (family members, friends, or co-workers) about the manifestations of the anguish.

Lodge v. Kondaur Capital Corp., — F.3d —-, 2014 WL 1813298 (11th Cir. May 8, 2014)

 

Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761             Phone: (727) 410-2705;   email: calh@gate.net

SCRA and Credit Reporting Errors

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The Servicemembers Civil Relief Act (SCRA) provides protection for  active duty military and their families and  also after they return home.

Members may not realize that adverse legal actions or improper reporting on their credit reports have occurred until they need to access credit or some other adverse incident has occurred.

Every service member should pull his or her individual credit report and inspect the negative reporting that occurs on the reports. If in fact there are errors on credit reports, these errors can often be corrected in a matter of a few days.

You can pull a FREE credit report from www.annualcreditreport.com

or go directly to each website and request your report there:

http://www.experian.com/disputes/main.html

http://www.equifax.com/home/en_us

http://www.transunion.com/

After you’ve got your reports, use the online dispute process to remove improper credit reports.   If you have problems we offer a free consultation and can assist you  for a nominal fee in correcting the errors.

Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761             Phone: (727) 410-2705;   email: calh@gate.net

CLARK ET UX. v. RAMEKER, TRUSTEE, ET AL Decided June 12, 2014

The U.S. Supreme Court has now found that funds in an inherited IRA account are not exempt funds. This decision could have far-reaching and significant impact on people with large sums of inheritance monies held in IRA accounts. In fact, the impact could be financially devastating.

“ Three legal characteristics of inherited IRAs provide objec­tive evidence that they do not contain such funds. First, the holder of an inherited IRA may never invest additional money in the account. 26 U. S. C. §219(d)(4). Second, holders of inherited IRAs are required to withdraw money from the accounts, no matter how far they are from retirement. §§408(a)(6), 401(a)(9)(B). Finally, the holder of an inherited IRA may withdraw the entire balance of the account at any time—and use it for any purpose—without penalty. Pp. 4–6.”

 

Carol A. Lawson, Esq., 28870 U.S. Hwy19 #300, Hodusa Towers, Clearwater, FL 33761             Phone: (727) 410-2705;   email: calh@gate.net

Suntrust Mortgage Deal Over Foreclosures with State Attorney Generals

Several federal agencies and 49 state attorneys general struck a $968 million settlement Tuesday with SunTrust Mortgage over charges that it violated laws governing mortgage origination, servicing and foreclosures. Floridians who borrowed money from SunTrust Mortgage Inc. to buy a home could get nearly 40 percent of the total consumer relief expected under a joint state-federal settlement with the mortgage lender and servicer. http://www.bizjournals.com/tampabay/news/2014/06/18/florida-homeowners-could-get-biggest-piece-of.html Read more