Foreclosure Mills In South Florida
I am not in the business of bad mouthing people but you need to be very careful of who you are dealing with when it comes to buying a home. The bulk of foreclosures are handled by the law offices of David J. Stern in Plantation, the law offices of Marshall C. Watson in Fort Lauderdale, and Shapiro & Fishman in Boca Raton. Listen, if I were the owner of one of these firms I would certainly be happy to take on the business and get rich overnight but it is in your best interest to hire your own attorney to review everything involved in your transaction.
I continue to ask myself why the banks give the bulk of the business to a limited few firms when other firms are starving for business but I guess this is your answer. “Why these companies like dealing with mills is simple: With their efficient structures, they can underbid other law firms on foreclosures, which otherwise might cost thousands of dollars apiece.” That’s funny because I can tell you stories for days about how banks took less money on a sale for no reason whatsoever. I guess they pick and choose when they want to save money.
Unfortunately I see day in and day out how the home buying process is slowed down by these firms because they can’t keep up with the work load. The big banks only see things on a macro level when I see them on a micro level. I continually say that you get what you pay for and liens are being missed, whether by accident on purpose you can decide, the process is slowed down so the bank gets less money due to property values dropping, etc.