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84 Arkansas RANK: 25 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2015 2.78% 1.40% 5.7 YEAR AGO 3.31% 1.57% 6.3 YEAR-OVER-YEAR CHANGE -16.1% -10.7% -0.6 Top County PIKE COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 1.79% 3.32% YEAR AGO 4.54% 1.00% YEAR-OVER-YEAR CHANGE -60.7% 232.8% Top Core-Based Statistical Area BLYTHEVILLE, AR 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 4.84% 2.83% YEAR AGO 4.91% 2.79% YEAR-OVER-YEAR CHANGE -1.5% 1.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Florida RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2015 2.52% 3.08% 5.6 YEAR AGO 3.03% 5.58% 6.4 YEAR-OVER-YEAR CHANGE -16.9% -44.8% -0.8 Top County WASHINGTON COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 3.31% 6.89% YEAR AGO 3.71% 10.92% YEAR-OVER-YEAR CHANGE -10.9% -37.0% Top Core-Based Statistical Area WAUCHULA, FL 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 3.49% 6.20% YEAR AGO 3.88% 8.26% YEAR-OVER-YEAR CHANGE -9.8% -25.0% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Florida Adriana M Montes, MBA Florida Dreams Realty Group adriana@FloridaDreamsRealty.com Cell 321 689 6258 www.fl oridadreamsrealty.com MEMBER Just like the PTFA, there are exceptions as to who would qualify as a tenant. A tenant is not the mortgagor, or the child, spouse or parent of the mortgagor, further, the tenant's rental agreement must be the result of an arm's length transaction and provide for a fair mar- ket rent payment unless the rent is reduced or subsidized by a federal, state or local subsidy. e purchaser does not assume the obligations of the landlord unless the purchaser were to assume or enter into a rental agreement. is effective date could not be more inconvenient for many. e effective date, June 2, 2015, could interfere with your evic- tion. If you have an eviction in process or a move out date less than 30 days away, this eviction would need to be abated or the move out date cancelled while the proper notice is given. Your attorney should analyze every existing eviction to see if the tenant qualifies for this additional protection before abating or cancelling. CFPB, Florida Receive $27.7 Million Judgment Against Firm for Foreclosure Relief Fraud e Consumer Financial Protection Bureau (CFPB) and the state of Florida were granted a final judgment totaling $27.7 million against a Florida law firm and its affiliates for fraud perpetrated against distressed homeowners who were seeking relief or trying to avoid foreclosure, according to a release from the CFPB. e Hoffman Law Group and its opera- tors, Michael Harper and Benn Willcox along with attorney Marc Hoffman, and the firm's affiliates, Nationwide Manage- ment Solutions, Legal Intake Solutions, File Intake Solutions, and BM Marketing Group, all based in North Palm Beach, allegedly deceived consumers into joining frivolous lawsuits that were purported to pressure banks into modifying their mortgage loans to prevent foreclosure. e companies allegedly illegally collected millions of dollars in up- front legal fees from unsuspecting consumers. e court found that the companies were found liable for $11,730,579, the total amount they collected in illegal upfront fees from consumers, and also imposed an additional civil penalty of $10 million to be paid to the state of Florida, according to the CFPB. "ese companies preyed on vulnerable consumers who were trying to save their homes IN THE NEWS Florida's New Foreclosure Eviction Law HB 779 Presents Challenges By Daniel C. Consuegra, Law Offices of Daniel C. Consuegra, P.L. Even though we no longer have to contend with the expired Protecting Tenants in Fore- closure Act (PTFA), Florida now has its own version which we will all find much easier to deal with. e new law is called Termina- tion of Rental Agreement Upon Foreclosure HB 779 and it will be found in Section 83.561, Florida Statutes. ere have been several announcements concerning the law with an effective date which may be incorrect. e effective date is June 2, 2015, which is the day the governor signed the legislation, HB 779. Some have erroneously stated that the legislation is effec- tive July 1, 2015 because this is 60 days after the close of the legislative session, but HB 779 states that the Act takes effect upon becom- ing law, which is the day the governor signed it. See Constitution of Florida, Article III, Section 8. Executive approval and veto. Under the Act, the purchaser at the fore- closure sale must provide a notice of termina- tion to the tenant, which notice allows the tenant to remain in the property 30 days from the receipt of the notice and if the tenant does not vacate at the expiration of the 30 days, the purchaser may apply for a writ of possession and forcibly remove the tenant. e notice also provides that the tenant is obligated to pay rent during the 30-day period. e notice is to be sent by mail, personal delivery or, if the tenant is absent, by leaving a copy of the notice at the residence.