Jose Baez Both Homes in Foreclosure

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3doglady said:
According to zillow the house he paid $670,000 in 2007 is now worth $348,000.
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so he paid way to much for this in the first place?
why did it go down in value?
Not a SMART business deal for a lawyer!!!!
 
Baez really tries every time something big is going to hit to divert our attention.

(In my best JB impression)

Ummm, I don't want the ummm, bloggers to find out about my home being foreclosed on, ummm. Oh, I know! I'll threaten with lawsuits over my ummm, stolen photos! That will make the foreclosure seem less important. Ummm..
 
Me thinks they'll start realizing soon that kc kool-aid was flavored with a bit of poison! kc's kicking back in jail, smoothing her hair, watching the lives of all who come near her spontaneously combust. :hypno: :deal: :Banane36:
 
passionflower said:
so he paid way to much for this in the first place?
why did it go down in value?
Not a SMART business deal for a lawyer!!!!
Click to expand...

In 2007 when JB bought the house the housing market was still doing ok but on the verge of collapse. Then in mid 2007 the housing market started to collapse on itself (Housing Bubble). This caused many housing market values to plummet at extraordinary rates. This housing bubble is actually one of the major reason our economy (in the US) is in it's current shape. The housing bubble started the domino effect that then effected stocks on the market and required our government to fork over billions in bailouts.

In early 2007 JB's house at 675k or so might have seemed a deal at the time. No one knew that in just a couple months houses in some areas would be worth half as much.

Not really defending JB but no one (lay persons and many economists) was really ready for this housing collapse not even chairman of the federal reserve and financial guru Alan Greenspan. Greenspan saw the bubble in 2006 but failed to recognize it's severity.

Once again not actually defending JB but he's no different then the millions of others who bought homes between 2004-early 2007.
 
passionflower said:
so he paid way to much for this in the first place?
why did it go down in value?
Not a SMART business deal for a lawyer!!!!
Click to expand...
bbm
Not really. FL properties took a huge nose dive.
I am very grateful we sold our SW FL home when we did because today it is worth almost $200,000. less than it was when we sold it.
 
If I read that right, he bought it for $670K and it currently appraises at $397K. I'd guess he's letting it foreclose because he's upside down with the mortgage and doesn't want to make those heavy payments. I'm wondering if he can buy it back at the lower price!!@ :)
 
USARDOG said:
If I read that right, he bought it for $670K and it currently appraises at $397K. I'd guess he's letting it foreclose because he's upside down with the mortgage and doesn't want to make those heavy payments. I'm wondering if he can buy it back at the lower price!!@ :)
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I'd guess that you are correct, and I'd also guess that more than 50% of mortgage holders in FL are in the same position. I can't picture JB ever making larger than required monthly payments on his house from day one. It seems he likes to live outside his means and now he is paying the price. Keep in mind this was one of the reasons he did not get approved by the FL Bar after he took the exam. The FL Bar was very concerned about his poor money management and the fact that he bought a new car but did not make his child support payments.
http://www.tcpalm.com/news/2009/may/03/casey-anthonys-lawyer-jose-baez-rejected-florida-b/
 
Purple Iris said:
So, lets count these dropping flies.

The Milstead's have had foreclosures
Brad Conway
Mr. & Mrs. Anthony

And, now, this one.....

I wonder if they all have used the same attorney??
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and ... Dominic C...... still in foreclosure ... almost 2 years ... he did not get the benefit of a free real estate attorney, nor a loan modification, nor a mortgage extension and reduced payments .... and he is a Florida resident also....
 
Sun said:
Thanks nums! And, the last time that Jose Garcia visited Casey in the jail was on April 12. I'm not sure that he's even still with the Baez Law Firm at this time.
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Jose Luis Garcia
Longwell & Gentle, P.A.189 South Orange Ave.Suite 900 SOrlando, FL 32801
 
believe09 said:
There are no other JB's in this area of FL??
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Wow....I really need to get to the eye doc......I read the above as "There are no other BJ's in FLA?" ha ha ha For a second I was like....WTH???

MOO
 
doogiesgirl said:
Wow....I really need to get to the eye doc......I read the above as "There are no other BJ's in FLA?" ha ha ha For a second I was like....WTH???

MOO
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:laugh: :laugh: :laugh: :laugh: :biglaugh: :biglaugh: :biglaugh: :biggrin: :biggrin: :laughbounce:
 
He'll come out smelling like a rose just like the Anthony's did.

I only feel bad about the people who do an honest days work to make ends meet that have and will lose their homes.
 
Sounds a bit like, "When you boil a pot, the scum always rises to the top." :)
 
marspiter said:
Not defending JB on this but alot of people especially in Florida and other areas hit hard by the housing crunch are foreclosing on there homes. Mainly because the market value of the home is currently well below the loan value. So some have decided it's not worth it to pay on a 600k home when its current market value is only 400k to 300k. Some areas have seen dramatic hits to home values because the values were so artificially inflated before the market took a nose dive.

Also if you want to negotiate new terms with the bank alot of times they will not even begin to negotiate until you default. Some advice I've heard is to let your home default and begin the foreclosure proceedings and then negotiate. The bank doesn't want the home especially with the market the way it currently is. So the bank at that point may be willing to give you a sweeter deal.

I do however still find it humorous that JB isn't paying his bills.
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A valid strategy for a layperson or regular citizen. But as a practicing attorney doesn't JB have a stronger ethical obligation regarding finances? I know in most states personal financial issues such as bankruptcies and foreclosures can jeopardize certain types of professional standing such as admission on membership in the bar or licensing as an accountant or tax preparer.

While your average run of the mill attorney might eek by a home foreclosure, in the current economic environment, with a minor slap on the wrist from the bar, JB has a rather noticeable record of financial questions already in front of the bar. His admission was delayed because of personal financial issues. Questions have come up concerning the financing and compensation of this case. Throw a foreclosure on top of it, and the Florida Bar may finally decide to simply be done with it all.Remember regardless of our outrage about things lawyers say and lies they tell or just how smarmy they may seem, the one single thing that the bar does act on regularly, swiftly and decisively is anything dealing with financial mismanagement.
 
faefrost said:
A valid strategy for a layperson or regular citizen. But as a practicing attorney doesn't JB have a stronger ethical obligation regarding finances? I know in most states personal financial issues such as bankruptcies and foreclosures can jeopardize certain types of professional standing such as admission on membership in the bar or licensing as an accountant or tax preparer.

While your average run of the mill attorney might eek by a home foreclosure, in the current economic environment, with a minor slap on the wrist from the bar, JB has a rather noticeable record of financial questions already in front of the bar. His admission was delayed because of personal financial issues. Questions have come up concerning the financing and compensation of this case. Throw a foreclosure on top of it, and the Florida Bar may finally decide to simply be done with it all.Remember regardless of our outrage about things lawyers say and lies they tell or just how smarmy they may seem, the one single thing that the bar does act on regularly, swiftly and decisively is anything dealing with financial mismanagement.
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I think that in his case especially with his delayed entry to the Florida Bar, the fact that the defense has gone through A LOT of money without much to show for it, this could be a big problem for him. I wonder if the FL Bar has the authority to review the case expenditures that were viewed "in camera" after the ABC and T Macaluso money disclosures.
 
Oh my.

Nums24, I confer on you the honorary title of "Master Sleuth."
 
Couldn't be happening to a nicer guy ;)
KARMA
 
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