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VISIT US ONLINE @ DSNEWS.COM FROM THE BENCH Florida rank: 1 90+ Day Foreclosure Unemployment Delinquency Rate RateRate march 2012 3.93%14.02% 9.0% Is Your Agent Your Strongest Link? year ago 4.85%13.87% 10.7% percent point change -19.1%1.1%-15.9% Top County MIAMI-DADE COUNTY 90+ Day Delinquency Rate Foreclosure Rate march 2012 4.85%20.39% year ago 6.01%21.14% percent point change -19.3%-3.6% Top Core-Based Statistical Area MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL 90+ Day Foreclosure Delinquency Rate Rate march 2012 4.21%17.17% year ago 5.52%17.64% percent point change Metro Brokers Realty Premier Agents. Premier Results. Greater Orlando Area, including: Orange, Osceola, Seminole, Polk & Lake Counties -23.8%-2.7% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Cindy Elkhander & The Metro Brokers Team What You Can Expect: Florida Adriana M Aleman, MBA Florida Dreams Realty Group aaleman@floridadreamsrealty.com Cell 321 689 6258 www.floridadreamsrealty.com •12 Hr. Max for Occupancy Checks. • 99% CFK Success Rate. • 48 Hr. Initial BPO turnaround. • Preliminary Title/Lien Search to avoid any surprises while in escrow. • 21 Days Average DOM. • 98% Initial BPO Value/Sale Price Ratio. • Weekly Escrow updates until Closing. • 2008 - 2009 Five Star Award Winner, 2010 Orlando Magazine • Top REALTORS • Five Star Institute & Open Door/Default School Certified • Preferred Status & 100% Score Card with some of the major Lenders/Servicers MEMBER KNOW THIS The business sector of Florida is about 15% of the state's employment base but accounts for more than 40% of jobs, according to a Wells Fargo report. Cell 407-383-5000 Office 407-237-0905 Fax 407-237-0906 reo@metrobrokersfl.com www.MetroBrokersFL.com The Application of the Florida Business Records Hearsay Exception to Foreclosure Litigation According to the Mortgage Bankers Association's recently released National Delinquency Survey, more than 24 percent of home loans in Florida were in some stage of delinquency or foreclosure in the last quarter of 2010. About 14 percent of Florida homes were actively in foreclosure, meaning that a foreclosure action had been initiated by the lender, but the mortgage had not been sold via foreclosure sale, been brought current by the homeowner, or a workout (loan modification, short sale) had not taken place. This issue has created a booming business for attorneys that specialize in defending homeowners in foreclosure litigation. While some attorneys simply take their clients' money, buy them some time, and have no real expertise in this evolving area of law, other lawyers have organized, shared information and best practices, and they are quite savvy in the defense of these actions. One example of such savviness, combined with, quite frankly, a loan servicer's sloppiness, is seen in the Florida Fourth District Court of Appeal's case of Glarum v. LaSalle Bank National Association, So. 3d, 2011 WL 5573941 (Nov. 17, 2011). LaSalle filed a foreclosure action against a homeowner. The homeowner's counsel filed an answer admitting that payments had not been made according to the terms of the note, but denied LaSalle's allegations regarding the amount of the default. To establish the amount of the indebtedness, LaSalle filed the affidavit of a "specialist" from the loan servicer in support of its motion for summary judgment. This specialist attested that the homeowner was in default pursuant to the note and owed in excess of $340,000. The trial court granted summary judgment in LaSalle's favor. The homeowner appealed the decision. Pursuant to Florida law, the affidavit constituted "hearsay" evidence. "Hearsay" is a statement, other than one made by an individual while testifying at a trial or hearing, offered in evidence to prove the truth of the matter asserted. Hearsay evidence is inadmissible in a Florida court unless a statutory exception applies. In this case, the 91