The revelation that loan service providers were rapidly signing foreclosure documents moving through the court system in Southwest Florida raised in June, expected clue that the nine-month hitch caused by the robo-signing crisis is beginning to break.
Total number of foreclosure filing was 1, 449 in Manatee, Sarasota and Charlotte counties last month, a 46 percent increase from May.
The whole robo-signing scandal has caused many judges to disbelief and doubt what service providers are saying in foreclosure petitions. Bank of America saw the largest increase. The giant Charlotte, North Carolina based lender filed 118 preliminary foreclosures in Manatee and Sarasota counties in June, more than just double as many as in May. Buy foreclosure filings of Bank of America were still about half what they were before the foreclosure development disorder started affecting the bank’s approach starting in September.
Betimes foreclosures in Sarasota and Charlotte counties — communities that has shown the most marked drop since the processing crisis began rose 88 percent in June in contrast to the previous month, according to data delivery Wednesday by California-based Realty Trac Inc., which monitors the foreclosure phenomenon.
According to the Judge Lee Haworth, This could be the starting of a new inflate, who just stepped down as chief judge of the 12th Circuit Court after keep an eye on response to the flood of foreclosures in the region. The winds are certainly starting to blow a little harder.
Feelings might again be rising up is either good or bad, depending on the outlook.
Report by Vibhanshu Vaibhav