It’s been a roller coaster ride the last few months with regards to foreclosures. Some of us in the industry, as much as we dont’ want to, have had to deal with these. We’ve held some of our clients’ hands through the hardest times in their lives. No one ever wants to be faced with a foreclosure….the thought of loosing a home is absolutely horrible, but it happening because of clerical errors is beyond words.
This case in my backyard – a house sold from right under a lady in Homestead who was working on a loan modification with her lender. She took the necessary steps to get a court reversal on the sale and still found her belongings on the curb of her home because the county clerk allegedly did not record the reversal.
The Miami Herald reports:
A clerical error at the court had let the buyer complete the purchase, and she and her family were told to gather their things and leave. She even tried showing the officers a judge’s order, but her family was still kicked out.
“I felt terrible. I was crying the whole time,” Ramirez, a 52-year-old cook at a Mexican restaurant, said Thursday of the daylong eviction. The ordeal ended after they pointed the mistake out to a judge the next day.
The trouble began when Ramirez and her husband fell behind on their $2,159 house payments. Her parents had purchased the suburban Miami home for $260,000 three years ago, but it was up to Ramirez and her husband to pay the mortgage.
J.P. Morgan Chase, the mortgage holder, began foreclosure procedures and the home was auctioned June 10 for $87,000. A week later, the parents convinced Circuit Judge Israel Reyes to reverse the sale. He ordered both sides to work out a repayment plan, which they did, cutting about $600 a month off the bill.
But Ramirez said the court clerk didn’t tell the buyer, who showed up with police Aug. 12. Ramirez, her husband and 20-year-old nephew were told to leave the 3-bedroom, 2-bath home.
The next day, Reyes ordered the Ramirez family back into the home. Court documents show that Reyes also ordered the clerk to update the docket immediately to reflect the changes.
Chase spokeswoman Nancy Norris said that there was “miscommunication” and that there appears to have been a clerical error in the court system.
This case is probably one of many and shows how home owners cannot just wait until the last minute to address issues of foreclosure. Not saying that Mrs. Ramirez waited until the last minute, just stressing the fact that when there are so many hands in the pot, things can get complicated. Between the bank, the loan officer, the judge, clerk of court, buyer, sheriff and whoever else was involved, it was messy situation. We should all be aware of eviction procedures in our own states in order to help our clients faced with foreclosures. In Florida, evictions need to be posted on the premises before belongings can be put out of the property –
Writ of Possession: If the landlord does win the case, the clerk of the court will issue a writ of possession to the sheriff commanding the sheriff to put the landlord back in possession of the dwelling after 24 hours notice conspicuously posted on the premises.
In Florida it’s also very common for tenants to find themselves being evicted and losing deposit money because the owner’s of the property have stopped paying their mortgage and are foreclosed on. Our job as agents is not to act as attorneys or financial advisers – but it is to research and communicate relevant information to our real estate clients.
Here are other articles about the same accidental eviction:
Is the real estate industry endorsing Carson’s nomination to HUD?
(BUSINESS NEWS) Ben Carson’s initial appointment to HUD was controversial given his lack of experience in housing, but what is the pulse now?
NAR strongly backs Dr. Carson’s nomination
When President-Elect Donald Trump put forth Dr. Ben Carson’s name as the nominee for Secretary of Housing and Urban Development, NAR President William E. Brown said, “While we’ve made great strides in recent years, far more can be done to put the dream of homeownership in reach for more Americans.”
At the time of nomination, the National Association of Realtors (the largest trade organization in the nation) offered a positive tone regarding Dr. Carson and said the industry looks forward to working with him. But does that hold true today?
The confirmation hearings yesterday were far less controversial than one would expect, especially in light of how many initially reacted to his nomination. Given his lack of experience in housing, questions seemed to often center around protecting the LGBT community and veterans, both of which he pledged to support.
In fact, Dr. Carson said the Fair Housing Act is “one of the best pieces of legislation we’ve ever had in this country,” promising to issue a “world-class plan” for housing upon his confirmation…
Job openings hit 14-year high, signaling economic improvement
The volume of job openings is improving, but not across all industries. The overall economy is improving, but not evenly across all career paths.
Job openings hit a high point
To understand the overall business climate, the U.S. Labor Department studies employment, today releasing data specific to job vacancies. According to the department’s Job Openings and Labor Turnover Survey (JOLT) for April, job openings rose to 5.38 million, the highest seen since December 2000, and a significant jump from March’s 5.11 million vacancies. Although a lagging indicator, it shows strength in the labor market.
The Labor Department reports that the number of hires in April fell to 5 million, which indicates a weak point in the strong report, and although the volume remains near recent highs, this indicates a talent gap and highlights the number of people who have left the labor market and given up on looking for a job.
Good news, bad news, depending on your profession
That said, another recent Department report notes that employers added 221,000 jobs in April and 280,000 in May, but the additions are not evenly spread across industries. Construction jobs rose in April, but dipped in professional and business services, hospitality, trade, and transportation utilities. In other words, white collar jobs are down, blue collar jobs are up, which is good or bad news depending on your profession.
Additionally, the volume of people quitting their jobs was 2.7 million in April compared to the seven-year high of 2.8 million in March. Economists follow this number as a metric for gauging employee confidence in finding their next job.
If you’re in the market for a job, there are an increasing number of openings, so your chance of getting hired is improving, but there is a caveat – not all industries are enjoying improvement.
If you’re hiring talent, you’ll still get endless resumes, but there appears to be a growing talent gap for non-labor jobs, so you’re not alone in struggling to find the right candidate.
Economists suspect the jobs market will continue to improve as a whole, but this data does not pertain to every industry.
Gas prices are down, so are gas taxes about to go up?
Do low gas prices mean higher gas taxes are on the way? Budgeting for 2015 just got a bit more complicated, if some politicians have their way.
Gas taxes and your bottom line
Many industries rely heavily on time in their vehicle, not just truck drivers and delivery trucks. Sales professionals hop in their vehicles throughout the day, as do many other types of professionals (service providers like plumbers, and so forth). For that reason, gas prices and taxes are a relevant line item that must be budgeted for 2015, but with politicians making the rounds to push for higher gas taxes, budgeting becomes more complicated.
Gas prices are down roughly 50 cents per gallon compared to a year ago, which some analysts say have contributed to more money in consumers’ pockets. Some believe that this will improve holiday sales, but others believe the timing is just right to increase federal taxes on gas. The current tax on gas is 18.40 cents per gallon, and on diesel are 24.40 cents per gallon.
Supporters and opponents are polar opposites
Supporters argue as follows: gas prices are low, so it won’t hurt to increase federal gas taxes, in fact, those funds must go toward improving our infrastructure, which in the long run, saves Americans money because smoother roads mean better gas mileage and less congestion.
Gas taxes have long been a polarizing concept, and despite lowered gas prices, the controversial nature of the taxes have not diminished.
While some are pushing for complete abolition of federal gas taxes, others, like former Pennsylvania Governor, Ed Rendell (D) tell CNBC, “Say that cost the average driver $130 a year. They would get a return on that investment” in safer roads and increased quality of life, he added.
The Washington Post‘s Chris Mooney points out that federal gas taxes have been “stuck” at 18 cents for over 20 years, last raised when gas was barely a dollar a gallon and that the tax must increase not only to improve the infrastructure, but to “green” our behavior, and help our nation find tax reform compromise.
Is a gas tax politically plausible?
Mooney writes, “So, this is not an argument that a gas tax raise is politically plausible — any more than a economically efficient tax on carbon would be. It’s merely a suggestion that — ignoring politics — it might be a pretty good idea.”
Rendell noted, “The World Economic Forum, 10 years ago, rated us the best infrastructure in the world,” adding that we “need to do something for our infrastructure, not in a one or two year period, but over a decade.”
Others would note that this rating has not crumbled in just a few years, that despite many bridges and roads in need of repair, our infrastructure is still superior to even the most civilized nations.
Regardless of the reasons, most believe that Congress won’t touch this issue with a ten-foot pole, especially leading up to another Presidential campaign season starting next year.
“I think it’s too toxic and continues to be too toxic,” Steve LaTourette (the former Republican congressman best known for his close friendship with his fellow Ohioan, Speaker John Boehner) tells The Atlantic. “I see no political will to get this done.”
Whether the time is fortuitous or not, and regardless of the positive side effects, many point to a fear of voters’ retaliation against any politician siding with a gas hike, so this matter going any further than the proposal stage is unlikely.
Business Entrepreneur1 day ago
How to effectively share negative thoughts with your business partner
Business Entrepreneur4 days ago
Why receiving big funding doesn’t guarantee startup success
Business Entrepreneur1 week ago
‘Small’ business was once a stigma, but is now a growing point of pride
Opinion Editorials2 days ago
Basic tips on how to handle common (and ridiculous) interview questions
Opinion Editorials4 days ago
Be yourself, or be Batman? A simple trick to boost your self-confidence
Social Media2 days ago
Twitter branches out into voice chat – what could go wrong?
Business Entrepreneur1 week ago
3 types of clients you should fire as a freelancer (without feeling guilty)
Business Entrepreneur2 weeks ago
Tesla: One company, or a collection of innovative startups?