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Palm Beach Post-

– Clerk of Courts Sharon Bock has drawn a Democratic primary challenge from foreclosure-fighting activist Lisa Epstein, who has attracted a national following for exposing suspicious foreclosure paperwork from lending institutions.

Epstein wants the clerk’s office to help crack down on fraud, starting with an audit of real estate documents filed in Palm Beach County. In a bid to address Epstein’s concerns – and avoid a Democratic primary – county Democratic Chariman Mark Alan Siegel arranged a lunch meeting between Bock and Epstein on Friday in Boca Raton.

“If there are things that can be solved, we don’t need an election to do it,” Siegel said. He called Epstein “a spirited person. She wants to raise issues. Let’s see what happens. In our view, Sharon’s doing a great job.”

[Palm Beach Post]

image:4closurefraud

By Lynn E. Szymoniak, Ed., Fraud Digest

The crash of the housing market has left families with an insurmountable debt problem. Palm Beach County, Florida, is one of the counties hardest hit by falling home prices.

In many cases, the Palm Beach County homes are now selling for less than 50% of the home prices in 2005-2006. Even when families are willing to forfeit their homes to their lenders, they still face significant deficiency judgments – the difference between the total amount owed and the amount “recovered” by the bank by a resale.

Bankruptcy is the only way to escape a deficiency judgment, but a bankruptcy will disqualify a family from eligibility for another mortgage. With fewer eligible borrowers, and an increasing number of homes being sold by the lenders, the price of homes continues to plummet and even more homeowners find themselves owing more than the current value of their home.

This cycle will only be ended by principal reductions by banks, for families willing to stay in their homes. More foreclosures will exacerbate this problem and prevent any real widespread economic recovery.

To prevent further deterioration of neighborhood home values, banks must demolish abandoned, moldy homes that have been gutted of plumbing, wiring and appliances. Banks must also limit their home sales in any one neighborhood so that prices may stabilize.

Fannie, Freddie, securitization, predatory lending, and extreme profiteering destroyed economic hope for the majority of Americans.

It is time for the banks to implement a policy of principal reductions to fair market value, with low-rate, fixed rate mortgages, and responsible home sales.

The following Palm Beach County homes were listed for sale in November, 2011. The price in 2005-2006 is listed after the current price.

12935 North 57th Road, The Acreage, West Palm Beach
11/11 Sale Price: $150,000
Sold for $335,000 on 4/20/2005

312 Putnam Ranch Road, West Palm Beach
11/11 Sale Price: $150,000
Sold for $360,000 on 4/22/2005

1135 Imperial Lake Road, West Palm Beach
11/11 Sale Price: $99,900
Sold for $270,000 on 7/31/2006

142 Rowley Drive, West Palm Beach
11/11 Sale Price: $99,000
Sold for $250,000 on 6/15/2006

4818 Poseidon Place, Hypoluxo West, Lake Worth
11/11 Sale Price: $150,000
Sold for $240,000 on 8/30/2005

5436 Gene Circle, Summit Run, West Palm Beach
11/11 Sale Price: $95,000
Sold for $250,000 on 8/24/2005

5254 West Canal Circle, Lake Worth
11/11 Sale Price: $94,900
Sold for $252,000 on 6/2/2005

400 Superior Place, West Palm Beach
11/11 Sale Price: $95,000
Sold for $205,000 on 2/14/2005

3706 Shoma Drive, West Palm Beach
11/11 Sale Price: $95,000
Sold for $269,000 on 4/28/2006

952 32nd Street, West Palm Beach
11/11 Sale Price: $95,000
Sold for $340,000 on 5/27/2005

6263 Blue Baneberry Lane, Buttonwood West, Greenacres
11/11 Sale Price: $99,999
Sold for $160,000 on 7/20/2004

10735 LaStrada, Ibis, Palm Beach Gardens
11/11 Sale Price: $299,900
Sold for $473,207 on 8/18/2006

6315 Bischoff Road, West Palm Beach
11/11 Sale Price: $98,500
Sold for $235,000 on 11/17/2006

313 North Ware Drive, West Palm Beach
11/11 Sale Price: $99,900
Sold for $209,000 on 6/21/2006

1005 SW 17th Street, Boynton Beach
11/11 Sale Price: $99,000
Sold for $172,500 on 6/30/2006

2859 Kentucky Street, West Palm Beach
11/11 Sale Price: $99,000
Sold for $179,000 on 7/20/2005

1701 Village Blvd., West Palm Beach
9/11 Sale Price: $53,000
Sold for $188,900 on 3/28/2005

8679 Falcon Green Drive, Palm Beach Gardens
11/11 Sale Price: $299,000
Sold for $550,000 on 7/24/2006

2912 South Olive Avenue, West Palm Beach
11/11 Sale Price: $299,000
Sold for $520,000 on 10/19/2005

10241 Orchard Reserve Drive, #1D, Ibis, Palm Beach Gardens
11/11 Sale Price: $299,000
Sold for $478,577 on 7/29/2005

616 Westwood Road, West Palm Beach
11/11 Sale Price: $299,000
Sold for $449,000 on 5/18/2005

There are many more examples of home with significantly reduced
value. Most of these homes have been on the market for over six
months. In November, 2011, there were 659 homes listed for sale in
Palm Beach County for less than $75,000, and nearly 2,000 homes for
sale for less than $500,000.

It is time to find ways to keep families in their homes.

[ipaper docId=73274531 access_key=key-1ie9piclczemun0s0mdb height=600 width=600 /]

Via Foreclosure Hamlet-

I urge everyone to email

Melissa Sotillo msotillo@pbcgov.org

[FORECLOSURE HAMLET]

[ipaper docId=71936194 access_key=key-nzfs4mtlec1siuogdwm height=600 width=600 /]

Bank Fraud

Docx, LLC
Law Offices of David Stern
Lender Processing Services
Cheryl Samons

Action Date: October 24, 2011
Location: West Palm Beach, FL

HURRICANE CHERYL DESTROYS LAND RECORDS IN PALM BEACH COUNTY

In the six month period from September 1, 2008 through February 28, 2009, 502 mortgage assignments, signed by Cheryl Samons, were filed in the official records of Palm Beach County, FL.

Samons was the office manager for the Law Offices of David J. Stern, but she signed as a MERS officer.

Mortgage-backed trusts were the primary beneficiary of these Samons Assignments.

Mortgage Assignments Signed by Cheryl Samons Filed in Palm Beach County from September, 2008, through February, 2009:

September, 2008: 75
October, 2008: 125
November: 2008: 56
December, 2008: 85
January, 2009: 101
February, 2009: 60

Multiplied by three, in the 18-month period from July 4, 2008 though January 4, 2009, Samons is likely to have signed 1,506 Assignments.

This is the same 18-month period that 1,742 Docx Assignments were being filed in Palm Beach County. These had a stated mortgage value of $560,239,797 or an average mortgage value of $321,607 per assignment.

Samons Palm Beach County assignments filed from July 4, 2008 through January 4, 2009 have an estimated value of $484,340,182, nearly half a billion dollars.

This does not include the assignments signed by other Stern employees, associate Beth Cerni or paralegal Carol Wasserman.

The combined value of mortgages, primarily transferred to mortgage-backed trusts, for one county for one 18-month period: $1,044,579,939.

While Docx Assignments were only filed for 18 months in Palm Beach County, Samons assignments appeared regularly from 2007 through 2010.

HuffPO–

In a turn of events that consumer advocates are celebrating, Florida’s infamous “rocket docket” foreclosure courts may be on the verge of extinction, thanks to state budget cuts.

According to a document obtained by The Huffington Post, Palm Beach County has already started cancelling foreclosure cases. “Because of the lack of funding from the Florida legislature, judges will be unable to preside over foreclosure trials beginning July 1, 2011,” the order reads.

[ipaper docId=55864180 access_key=key-weehckxz7vgc7a1pwna height=600 width=600 /]

By Kimberly Miller
Palm Beach Post Staff Writer
Posted: 5:54 p.m. Thursday, Dec. 9, 2010

Scores of Palm Beach County homes were sold to investors at foreclosure auction this month for as low as $200 following the collapse of the David J. Stern law firm and ensuing confusion as thousands of its cases are reassigned.

It’s yet another muddle for the already overwhelmed foreclosure courts to sort out as former Stern cases went to auction with no bank representation, bids or proper public notice.

The result on Wednesday was 56 percent of winning offers were from investors or individual buyers who in some cases spent no more than a month’s mortgage payment to get homes that sold for upward of $240,000 during the real estate boom.

During a typical foreclosure auction, investors or individual buyers purchase between 3 percent and 13 percent of the homes, with the majority bought back by the banks.

But it is nowhere near certain the rock bottom prices will stick. Some of the sales were done without the required public advertisement. The Palm Beach County Clerk of Court will not issue a certificate of sale without proof that the auction was advertised once a week for two consecutive weeks before the sale.

Still, it takes a judge’s order to vacate or verify a questionable sale.

DJSP, Enterprises announced today that they have added a General Counsel to their Senior Management Team.

Howard S. Burnston has accepted the position of Vice President, General Counsel and Corporate Secretary effective August 5th 2010. Prior to joining the company, Mr. Burnston was a shareholder with Gunster, Yoakley, & Stewart, P.A., a Florida law firm, where he practiced for 12 years, most recently as chairman of the firm’s Securities and Corporate Governance Practice Group.

“We are very pleased to add such a seasoned professional to our executive team,” said David J. Stern, Chairman and CEO of DJSP Enterprises. “Howard’s business experience and legal expertise in the areas of securities and corporate governance will add tremendous value to DJSP and our shareholders.”

Mr. Burnston stated, “The company is operating in a dynamic and challenging business environment. I believe the company has a promising future and I am excited to join the impressive management team assembled at DJSP.”

Palm Beach County Judge Meenu Sasser was also a shareholder of Gunster, Yoakley, & Stewart from 2002-09, Associate 1995-02.

Again, when is this all going to be disclosed to both investors and defendants? Where does one put a stop to conflict of interest? Where are the disclosures?

I am 100% certain that both The State of Florida and DJSP Investors want to know did Mr. Burnston and Mrs. Sasser have a working relationship and to what extent?

Inquiring minds do wish to know!