Hat tip to 4ClosureFraud for picking up on the media catching the chaos that permeates the entire state… In the years since South Florida’s housing market began its historic crash, a debilitating ripple effect has spread to many of the region’s institutions, sparking a number of satellite problems, ranging from fabricated foreclosure documents to faulty mortgage note transfers. Major lenders, local governments and county courts have spent the last three years trying to deal with the fallout from the housing crisis. Each institution quickly found out it was unprepared and undermanned to handle the crisis, and most have been trying to play catchup ever since. Bank of America’s success rate in the federal government’s Home Affordable Modification Program, or HAMP, is 28 percent, third worst among HAMP participants. Read the full report 4ClosureFraud
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