Category Archives: Foreclosure in Florida
Disney and Timeshare Foreclosures
As any Floridian knows, many of the Walt Disney Company’s time-share properties are located in the Sunshine State, which is known for its high foreclosure rates. Recently, Disney has made some major changes to the way it handles foreclosures for time-share contracts, and the new system is aimed at increasing efficiency. The company will… Read More »
Neighborhood Stabilization Program FL
Soon South Florida nonprofit housing organizations will have the opportunity to bid on more than 2,000 foreclosed homes through the Neighborhood Stabilization Program, a program developed by the Federal Housing Finance Agency, Fannie Mae and Freddie Mac. The Neighborhood Stabilization Program (NSP) was created to aid in the recovery of neighborhoods that were hardest… Read More »
Hedge Funds During Foreclosures
Many homeowners find themselves unable to pay their mortgage, and hedge fund companies have started to get involved in the pursuance of profit. During the foreclosure crisis, traditional lenders began to rid themselves of assets by selling delinquent mortgages to private equity and hedge fund companies. In an effort to make quick money, the… Read More »
99 Homes captures the true essence of Florida's foreclosure crisis
Foreclosures became a prominent fixture in American society during the housing collapse of the previous decade, and no place endured more suffering than the Sunshine State. Many Florida families were removed from their homes with no notice, and were forced to seek refuge in motels and shelters across the state. 99 Homes, a new… Read More »
Fannie Mae extends Florida foreclosure deadline
Foreclosure proceedings are capped by a limit that varies by state, and mortgage financing giant Fannie Mae has recently increased the amount of time that is available to complete the foreclosure process. Florida was one of 33 states that saw a rise in its allowable time, as its previous maximum of 810 days was… Read More »
As Foreclosures Hit a 19-Month High, the End is Certainly Near
Foreclosure activity in the US has never been higher than in the 19-month stretch that ended in May of 2015. This time, however, it is not a sign of another housing market downturn. This recent foreclosure flurry represents the banks’ efforts to dwindle the backlog of homes currently in the foreclosure process. While this… Read More »
New Florida Foreclosure Law protects Tenants
Florida still holds the title for having the highest number of foreclosures in the United States. Even after seeing a reduction in the foreclosure cases since 2008, as of April, one in every 425 Florida residences are in foreclosure. The national average is one in 1,049. Until recently, Florida law did not protect tenants… Read More »
Do Reverse Mortgages Stop Foreclosure
Generally, a reverse mortgage can help you prevent home foreclosure by providing a home loan based on equity. As the homeowner, when you enter into a reverse mortgage, you defer home loan payments until certain instances arise such as you move out of the home, sell the home, or pass away. Understand that entering… Read More »
Top 5 Tips for Hiring a Foreclosure Attorney
You already know that a foreclosure attorney is the best way to ensure you keep your house. But, how do you know you’re hiring the right foreclosure attorney for the job? Before you call the first name you find, use these top tips to make sure you’re hiring the right legal professional. Get Organized… Read More »
Tips for Avoiding Foreclosure: How You Can Save Your Home
If you are significantly behind on your mortgage payments, then your lender may be threatening you with foreclosure. Foreclosure is the legal repossession of your home by the lender. The home is then sold at auction to hopefully recoup the costs of the loan as well as any behind payments. If the property sells… Read More »
