House and lawRecent, significant changes in Florida’s Foreclosure law have shortened the time period in which a lender can collect a deficiency, or balance after a mortgage foreclosure or short sale.  The statute of limitations period for a lender seeking a deficiency judgment on a note secured by a mortgage on a residential property, is now one year, instead of five, for a  deficiency action started after July 1, 2013.

The bill also limits the amount that the lender can recover.  In the case of an owner-occupied residential dwelling, the recoverable portion is limited to the difference between the judgment amount (in a short sale, the outstanding debt) and the fair market value of the property at the time of sale.  The new statute also limits attorneys fees and costs the lender can charge when collecting the deficiencies.  See the full amended statute §702.06

Other recourse may be available to the borrower who is facing the collection of a deficiency judgment. Often times, the debt can be negotiated and satisfied, without filing for bankruptcy.

Call us today to assess your case and see if we can settle your deficiency or find a way around the payment of it.


Law Offices of Jacqueline A. Salcines, PA
706 S. Dixie Highway
Second Floor
Coral Gables, Fl 33146
tel.  305 | 669 | 5280

short-sale-contractEffective October 1, 2013, HUD announced new and favorable changes to their FHA short sale requirements for homeowners seeking to short sale their homes.

This new Streamlined Short Sale, may no longer require the borrowers seeking a short sale to submit financial information or prove a financial hardship.

The following properties will be eligible:

  • Principal Residence
  • Second homes
  • Investment Properties
  • Military Service Members

The transaction must be an Arm’s Length Transaction wherein all the parties to the transaction, including buyer, seller and realtor, are required to sign an Arm’s Length Affidavit providing under penalties of perjury that they are not related as follows:

  1. Seller can not list the property with or sell to anyone with whom they have a close business relationship;
  2. The seller and buyer can not be related either by family, blood or business.

Any violation of this is considered a federal offense and violation of federal law.

Before closing, any and all liens and judgments against the seller must be released.  And this we are seeing ever so often wherein the short sale lender quickly and without thought, stops a short sale because the borrower has “judgments” or liens against them.  A name examination by a title agent as myself can decipher whether the liens or judgments do in fact belong to the homeowner. “Often times, it is a common name and by merely having the borrower seller sign a Non-Identify Affidavit, and submit it to the lender, that will not halt the short sale  negotiation and process. ” Jacqueline A. Salcines, Esq.

Servicers must now use a Deficit Income Test or (DIT) to determine the borrower’s financial hardship.

If qualified for a streamlined short sale, the borrower may not have to produce any financial documents or prove a financial hardship.

The appraisal or BPO is also done within 10 days and prepared for review quickly so that this too does not stall the process or approval

While the borrowers may be asked to make a cash contribution at closing, often times if the property is not the homestead of the borrower, cash Incentives to homeowners by lenders are being given.

Lastly, the FHA short sale addendum, where all parties agree that the property is an arms length transaction and there are no hidden terms or conditions in the short sale, must be signed and dated by all the parties at closing or when instructed by the lender.

If the borrower qualifies, cash incentives are offered by participating lenders including:

  • Bank of America
  • Chase
  • Ocwen
  • Wells Fargo

For negotiators of short sales, this means short waiting times, short document collection and quick approval times.

For the homeowner, this is great news in that the short sales will be approved quicker and the incentives may be given.

At the Law Offices of Jacqueline A. Salcines, PA we can qualify you, free of charge for the streamlined short sale.

We work with many investors to find qualified buyers for your home and get the short sale approved at the best price possible.

Call us today for a free consultation.  Our reviews speak for themselves.


TEL>  305 | 669 | 5280

???? Vol.5 ??????On June 7,2013 HB87, also referred to as the “Speedy Foreclosure Law” went into effect.  HB87 greatly reduces the bank’s requirements, in filing a foreclosure lawsuit, to prove the mortgage agreement.  More importantly, it shortens the timeline for having a foreclosure complaint or action to reach the end of the case and be put up for foreclosure sale and auction.

HB87, Section §702.10 also turns due process laws afforded homeowners and parties to a foreclosure action upside down!

The Plaintiff, or lender, can request what is referred to as an “Order to Show Cause for the entry of Final Judgment in Foreclosure”.  The court is then put on notice to immediately review the case without a hearing.  That means, a Judge is going to review the bank’s request to end the case and sell the home, without affording the Defendant homeowner an opportunity to argue their case on the merits.  Justice is now sacrificed since, as history dictates, many lenders are not completely honest in their dealings, and have both forged or prepared instruments, assignments and other pertinent documents and filed them with the courts.  A Judge would not have any way of knowing whether the documents are valid or not.

Section §702.10(1)(a)(1) also allows a Judge to review the complaint without a hearing and issue an order to show cause to the homeowner. The homeowner  must then show cause why the house should not be sold.  The timelines for this is 20 to 45 days after starting the complaint.  This results in a very short timeline to discover evidence and find any defenses in the case that could win the case at trial for a homeowner.

This also violates the Florida Rules of Civil Procedure in that if any depositions of bank witnesses or interrogatories want to be requested by the Defendant, they would not be allowed to do so.  Discovery rules almost always implement a 30 day response window. By mandating a response within 20 to 45 days after service, discovery is not possible.

By hiring an attorney to review the foreclosure complaint, the moment you are served, and raise defenses as early as possible, the Order to Show Cause can be cancelled and the case move through the necessary steps to protect the homeowner.  The best advice then is to make sure the homeowner has an attorney on their side to review and stop the speedy foreclosure, and protect the homeowners rights.

At the Law Offices of Jacqueline A. Salcines, PA, we have been assisting homeowners and borrowers for almost 14 years now. We can help you save your home too.  Call today for a free consultation and to see what we can do for you.


TEL  305 | 669  | 5280

If you have fallen behind on your mortgage payments and can no longer afford your mortgage, the best thing to do is open up the lines of communication with your lender to see what options exist.  If you lender will not work with you, then contact us and we can get your file escalated in order for the lender to stand up and take notice of your request.

The following is a list, albeit not all inclusive, of lender loss mitigation departments. These  numbers are always changing, so we can not guarantee the accurateness or completeness of the information provided.

 AVELO MORTGAGE  866-992-8356
 BANK OF AMERICA  800-846-2222
 CHASE HOME MORTGAGE  800-848-9136
 CITIMORTGAGE  800-211-6926
 EMC  877-362-6631
 EVER HOME MORTGAGE  800-669-7724
 FIFTH THIRD BANK  800-375-1745
 FLAGSTAR  800-945-7700
 GMAC  800-850-4622
 HSBC  800-365-6730
 OCWEN  888-554-6599
 REGIONS MORTGAGE  800-986-2462 
 WELLS FARGO  800-868-0043