January 18, 2011·
To foreclose on a property under existing Florida law, a lending institution must show not only a borrower’s default, but that the foreclosure is warranted under Florida’s laws of equity. If your lending institution cannot do this, they cannot foreclose on your mortgage.
Lending agents will typically not start foreclosure proceedings ...
January 15, 2011·
When you are dealing with lenders or creditors, you have the right to a clear and accurate loan disclosure where important information pertaining to your loan or line of credit will be explained to you in an appropriate manner. The Truth in Lending Act (TILA) requires that all lenders and ...
January 14, 2011·
The federal government has responded to the increase of foreclosure in South Florida and across the nation by developing the Home Affordable Modification Program (HAMP) as part of the Making Home Affordable initiative. HAMP is a loan modification program designed to help homeowners with making their mortgage payments affordable ...
January 12, 2011·
There are several things you can do if a lender has violated the Truth in Lending Act (TILA), a federal law intended to protect borrowers and help them make informed decisions when dealing with lenders. It’s extremely important to be aware of your options as a borrower, specifically with regards ...
January 10, 2011·
If you are one the many Florida homeowners having trouble making your mortgage payments, you should consult with a South Florida attorney with experience in foreclosure law to discuss the Home Affordable Modification Program (HAMP). The goal of this program is to provide homeowners a possible alternative to foreclosure.
Eligibility Requirements ...
January 7, 2011·
The government’s Home Affordable Modification Program (HAMP) is available to help you avoid foreclosure, but to apply, you must meet certain criteria. To find out if you meet the criteria, you can take the online test on the HAMP website.
You will be asked the following 5 questions to help ...
January 5, 2011·
If you have officially received approval for a loan modification under the Home Affordable Modification Program (HAMP), your loan servicer will make sure that your new monthly mortgage payment is no more than 31% of your monthly income.
The strategies used to lower your mortgage payment under HAMP include the ...
January 2, 2011·
When a mortgagor, such as a bank or other lending institution, successfully forecloses on your property, that lender takes full ownership of the property. The process, however, cannot begin until you fail to make your mortgage payments.
In Florida, a lender must use the judicial foreclosure process to seize a property ...
December 29, 2010·
Once you have been served with a Foreclosure Summons, your options as a defaulting borrower become severely limited. Available options to avoid a Florida foreclosure may be further decreased by your particular situation.
You can either accept the action and allow the lender to foreclose on your property, or you can ...
December 27, 2010·
Borrowers have one very important right they can exercise throughout the Florida foreclosure process, which is the right of redemption. Redemption is an equitable right that is intrinsic in all mortgages written in Florida. This is in addition to any other rights you are allowed to exercise as spelled ...
February 11, 2010·
Citi Mortgage To Let Troubled Homeowners Stay for 6 Months
By : The Associated Press
Feb 11, 2010
Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.
Citi said Thursday it is launching the pilot ...
February 11, 2010·
Florida Supreme Court Adopts Foreclosure Mediation Rules
From : the Associated Press, Feb 11, 2010
Lenders will be required to pick up the tab for investigating and verifying ownership before foreclosing Florida home mortgages under new mediation rules.
The Florida Supreme Court adopted the rules Thursday in an effort ...
February 10, 2010·
Options you can take to help you avoid foreclosure
Foreclosure has been one of the foremost topics within the real estate world in recent years, as each year more and more Americans are suffering from the inevitable prospect of an imminent foreclosure.
Even with more than 20% of all U.S. homeowners being ...
February 10, 2010·
Shocking statistic: 20% of all U.S. Homeowners are Underwater
Information was released today which shows that nearly 1/5th of all homeowners in the United States actually owe more on their home than the house is currently worth in re-sale value. This according to Zillow.com
Zillow reports that in the last quarter of ...
February 8, 2010·
The advantages of Short Sales for those in desperate financial situations
Each year an increasing amount of homeowners are facing financial problems due to an unstable economic climate and sometimes new mortgages payments are just too high for homeowners to pay, so they’re looking for new alternatives to try and avoid ...
January 27, 2010·
Why is a foreclosure defense lawyer so important?
Joe Sloboda, The Burgess Law Firm
In today’s economic climate, more and more people are finding themselves in deep financial trouble. In 2009, there were an unbelievable 3 million+ foreclosures nationwide. If you are suffering from money troubles and you’re faced with a potential ...
January 27, 2010·
Falling behind on your FHA mortgage? Help may be on the way
by : Joe Sloboda, Burgess Law Firm
Across America millions of homeowners are trying to get their mortgages modified, many times these people are told that they need to "fall behind" or to be late on their payments before their ...
January 14, 2010·
Almost 3 Million Homeowners Recieve Foreclosure Notices in 2009
Joe Sloboda, Burgess Law Firm
The amount of homeowners in the United States who received foreclosure notices in 2009 is staggering and reached a record ...
January 8, 2010·
by John Gittelsohn and Prashant Gopal, Bloomberg News
Efforts by U.S. banks to help distressed homeowners have focused mainly on temporary fixes such as interest-rate reductions that may only put off the day of reckoning, despite policy makers ...
January 5, 2010·
Foreclosure starting to take toll on prime borrowers
by Kathleen M. Howley and Mike Dorning; Bloomberg News
Jan. 4 (Bloomberg) -- Homeowners with the best credit are the next big risk for the U.S. housing market.
An increase in mortgage defaults among prime borrowers in 2009 is likely to ...
January 2, 2010·
With the number of South Florida foreclosures rising, scam programs are multiplying. Many fraudulent organizations have been preying on the emotional distress many homeowners feel when facing foreclosure.
Keep your eyes open for the following warning signs when considering a mortgage loan modification or foreclosure assistance:
High ...
December 31, 2009·
3 reasons home prices are heading lower
By Les Christie, staff writerDecember 31, 2009: 6:36 AM ET
NEW YORK (CNNMoney.com) -- After four months of gains, home prices flattened in October. Worse yet, industry insiders think that they'll soon start to fall.
Prices have risen more than 3% since May, according ...
December 31, 2009·
Home Equity Loans are just not so easy for homeowners anymore
Originally Published by Adrain Sainz of the Associated Press
Hocking the house for quick cash is a lot harder than it used to be, and it’s causing headaches for homeowners, banks and the economy.
During the housing ...
December 22, 2009·
The following article that was posted earlier in this month on cnnmoney.com speaks to the fact that in the month of November there was a decrease in foreclosure filings nationwide. This does not necessarily hold true to South Florida. And the questions still persists if this is a temporary lull ...
December 21, 2009·
The following is a recent story that was published in the Fort Lauderdale Sun-Sentinel which talks about the recent studies that were released in a recent Government study which state that upwards of 40% of homeowners who recently had their mortgage payments cut by 20% or more found themselves back into ...
December 21, 2009·
In a sign that the tide may be turning in the Commercial Real Estate markets a recent article posted last Friday in the Daily Business Review talks about 2 purchase transactions that occured recently in the local South Florida markets. We will continue to monitor the local news wires and ...
December 21, 2009·
In a sign of the times, major banks like Citi are offering to "postpone" foreclosure filings for 30 days during the holiday season. But not so fast, don't get too excited. As we have come to always find out you need to read the fine print. What Citi is actually ...
December 18, 2009·
This is an article that was originally published Bloomberg that shows how the epidemic of Short Sales and Foreclosures is not only a problem for low to middle class families. The problem is now running rampant with Upper Income Homeowners too. In South Florida alone the percentage of "Luxury Homes" is ...
December 18, 2009·
This is a re-post from an article that appeared in a monthly newsletter for the Arizona Area of Realtors earlier this year. What is so good about this article is that it clearly lists some very specific questions that every home owner should be asking when they are considering the decision ...
December 17, 2009·
Fortune magazine says South Florida home prices could drop another 30% in 2010
In a recent article released in their December 2009 issue, Forbes Magazine and Economy.com both say that home prices in South Florida (especially Palm Beach and Broward Counties) could drop by as much as 30% from current values ...
November 30, 2009·
This article, originally published on CNN Money gives excellent insight on how and why so many homes in the US are currently "under water" with regard to the value vs the amount owed to the mortgage lender. Personally I believe that there is a direct relation between certain areas of ...
November 23, 2009·
Foreclosure Defense Article:
How does one know when to contact a foreclosure defense attorney?
You know your job is coming to an end. They’ve already announced the layoffs. You only have one month left to get another job, or go on unemployment. If you do take unemployment how much would the monthly ...
November 5, 2009·
November 5, 2009
Daily Business Review
Authored by : Vanessa Blum
The Florida Supreme Court was asked Wednesday to adopt statewide mandatory mediation for residential foreclosures to help judges manage the flood of filings clogging courthouses.
The high court heard arguments on a task force report recommending mandatory mediation as part of a ...
October 15, 2009·
The recession has hit the state of Florida hard. Currently the sunshine state ranks second from the top for foreclosure filings. The other states hit hard with foreclosures are: California, Michigan, Arizona and Nevada.
For the best foreclosure defense in Weston give Burgess Law firm ...
August 31, 2009·
South Florida Sun-Sentinel.com
More than 16,100 mortgage modification complaints filed in past six months
Mortgage modifiers must be licensed under new Florida law
State regulators cracking down, with 83 active investigations
Originally published By Diane C. Lade
South Florida Sun Sentinel
6:38 PM EDT, August 26, 2009
Hundreds of people calling themselves "foreclosure rescue specialists," promising to ...
July 8, 2009·
Obama mortgage plan needs work
Many borrowers are not getting help under president's modification or refinancing plan. Officials don't expect problems to be fixed until the fall.
By Tami Luhby, CNNMoney.com senior writer
Last Updated: July 8, 2009: 8:10 AM ET
NEW YORK (CNNMoney.com) -- Mr. President, help us get one of your mortgage ...
June 5, 2009·
Mortgage rates have been rising steadily over the last few weeks and if ever there was a time to "lock in" your rate then that it is NOW.
With current CPI, PPI and Unemployment reports being surprising optimistic and the belief on Wall ...
June 2, 2009·
Pending home sales rebounding
Number of signed sales contracts continues bounce off record lows for third consecutive month.
By Les Christie CNNMoney.com staff writer
Last Updated: June 2, 2009: 10:05 AM ET
NEW YORK (CNNMoney.com) -- The number of home sales contracts signed in April continued to bouce back ...
May 29, 2009·
Troubled mortgages hit record high
More than 616,000 homeowners were hit with foreclosure actions in the first 3 months of the year, the Mortgage Bankers Association reports.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 28, 2009: 12:30 PM ET
NEW YORK (CNNMoney.com) -- Despite all the hand-wringing ...
May 20, 2009·
Renewed HOPE for Homeowners
Congress passed a bill amending HOPE for Homeowners that may make the program more useful.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 20, 2009: 5:06 PM ET
NEW YORK (CNNMoney.com) -- One of the biggest disappointments of the foreclosure prevention fight has been ...
May 15, 2009·
May 14, 2009
Slow Start to U.S. Plan for Modifying Mortgages
By TARA SIEGEL BERNARD
The Obama administration’s plan to help millions of troubled homeowners avoid foreclosure by reducing the size of their mortgage payments is just getting off the ground.
So ...
May 13, 2009·
Foreclosures: 'April was a shocker'
A record number of foreclosure filings took place during April, but the number of repossessions fell 11%.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 13, 2009: 8:04 AM ET
NEW YORK (CNNMoney.com) -- Foreclosures in April exceeded even March's blistering pace with ...
May 12, 2009·
Home prices slide 14%
National median home price falls a record 13.8% in first quarter of 2009, primarily because the market is flooded with lower-priced foreclosures and short sales.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 12, 2009: 10:05 AM ET
NEW YORK (CNNMoney.com) -- The steep ...
May 6, 2009·
Wed May 6, 2009 2:37am EDT
NEW YORK, May 6 (Reuters) - Home values in the United States extended their fall in the first quarter, with more than one in five homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
U.S. ...
May 5, 2009·
5 tips on buying a foreclosed home
Sure, there are great real estate deals to be had, if you know what you're doing.
By Amanda Gengler, Money magazine writer
May 1, 2009: 6:17 AM ET
(Money Magazine) -- 1. Finding one has become easier
You don't need ...
May 4, 2009·
Pending home sales jump 3.2%
Buyers defy expectations with an increase in sales contracts signed during March.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 4, 2009: 1:59 PM ET
NEW YORK (CNNMoney.com) -- Is the housing meltdown ending?
Pending home sales rose in March for the second consecutive ...
May 1, 2009·
Foreclosure filings in record jump
Hope Now reports a 20% increase in initial foreclosure filings during March. But there was a steep drop in bank repossessions.
By Les Christie, CNNMoney.com staff writer
Last Updated: April 30, 2009: 11:31 AM ET
NEW YORK (CNNMoney.com) -- Lenders continued to rewrite troubled ...
April 30, 2009·
No bankruptcy help for homeowners
Measure to modify delinquent loans in bankruptcy court fails in Senate. Obama administration loses big stick to prod loan servicers to aid troubled borrowers.
By Tami Luhby, CNNMoney.com senior writer
April 30, 2009: 3:55 PM ET
NEW YORK (CNNMoney.com) -- The Obama ...
April 29, 2009·
Premiums could rise
Florida Senate passes insurance bill
Bill aims to reduce homeowner storm risk
By Julie Patel
South Florida Sun Sentinel
8:53 PM EDT, April 28, 2009
The Florida Senate passed a broad property insurance bill Tuesday that is expected to boost most statewide home and condominium insurance rates and reduce Floridians' risk of paying ...
April 29, 2009·
U.S. to pay off mortgage investors
Treasury Department announces new mortgage incentives for lenders, which will reduce monthly payments for millions of borrowers.
Last Updated: April 28, 2009: 11:02 AM ET
WASHINGTON (Reuters) -- The U.S. Treasury Department will Tuesday tap a $50 billion housing rescue fund to pay ...