Homebuyer claims diet pills caused auction mistake

in Florida Law, Foreclosure, Property Law, Real Estate Law

South Orange County resident Mary McKaig said she had been confused after taking "judgment-altering" weight-loss medication for the first time and mistakenly bid more than $100,000 at a Feb. 19 public auction for a house that — unbeknownst to her — was saddled with more than $400,000 of debt, according to court documents filed by her attorney. Immediately after submitting the top auction bid through the Orange County court auction process, McKaig realized she made a mistake, according to the court records. She hired an attorney to try to undo what she had just done. McKaig and her husband "basically dumped $100,000...

11 October

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Florida Eminent Domain and Inverse Condemnation

Posted by DeWitt Law Firm, P.A.

in Property Law

Florida Eminent Domain and Inverse Condemnation: the foundation of private property rights and recent changes to the Bert J. Harris Jr. Private Property Rights Protection Act of 1995. On June 21, 2011, Florida ‘s Governor Rick Scott amended Florida Statute 70.001, also known as the Bert J. Harris, Jr. Private Property Rights Protection Act. These amendments became effective July 1, 2011, and constitute an effort to strengthen private property rights in Florida. The major changes to this Act are as follows: 1. It allows a private property owner to file a claim on a temporary impact if that impact extends longer than...

11 September

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Practical Suggestions for Dealing with Distressed Property: Mortgage Foreclosure, Modifications and Refinancing

Posted by DeWitt Law Firm, P.A.

in Foreclosure, Property Law

Many people struggle to find out what to do when they are having trouble paying their mortgage or when they find their real property is under water. Nationwide, home prices are down 30% and since the 2006 real estate peak, 11 million homeowners are underwater. By under water, I mean they owe more on their property than what it is worth. Florida’s statistics are even more startling because Florida suffers from one of the worst rates of real estate depreciation. People who find they are struggling to make mortgage payments or who are under water often try to educate themselves about...