Parker also condemns the banks for their apparent unwillingness to work with people to keep to their homes and slams the "mortgage securitization" schemes that led to the foreclosure mess in the first place.
"I live in Florida," says Parker referring to the bundling and selling of mortgages. "Our real estate market was inflated by this process and it was imploded by this process."
After Arizona, Florida has the biggest mortgage default debacle in the US. Parker is currently defending 500 foreclosure cases and spending hours and hours every week in the state's foreclosure courts.
He's got a front-row seat and he is aghast at bank lawyers who show up in court on the date of summary final judgment (that's the day the court can take your house away) with evidence opposing counsel has never seen, or without documents to definitely prove that the bank holds the mortgage.
"You can't do that in summary final judgment," says Parker. "If you are going to seek to terminate and afford a defendant due process, you have to follow strict rules—you have to present all evidence you intend to present at trial or at the hearing, and you have to present it 20 days ahead of time."
"It is a very specific technical rule that has obvious reasoning behind it. You can't be ambushed with evidence," he adds.
And if that isn't enough, Parker argues that a fundamental part of all mortgage agreements is being mowed over in the process. Lenders have a legal obligation to work with homeowners in the event the borrower can't make their payments says Parker. But the foreclosure courts aren't holding the banks to that duty.
The bundling of the "securitization of mortgages" has muddied the waters badly. The benefit of the doubt is heavily weighted in the bank's favor and Parker says homeowners are getting a raw deal.
"As far as I am concerned, a fair deal in a case where the plaintiff (the bank) can't prove ownership is to work out a deal that allows my client to pay the fair market value of the property, re-amortize the loan over 30 years at a market rate of interest," says Parker.
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But says Parker, a strong and just legal system is vital to democracy. "Why should anyone be put in a position where they are questioning whether they are going to be treated fairly and in accordance with the law?"
Chip Parker is a name partner with the firm of Parker & DuFresne in Jacksonville, Florida. He is an expert in bankruptcy law and has been a member of the Jacksonville Bankruptcy Bar Association since 1992. His practice areas include foreclosure, bankruptcy, chapter 7, reposessions, wage garnishments and debt elimination.