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Archive for September, 2009
Sep
30
Foreclosure Process In Florida? Avoid Foreclosure Monroe
Posted by: | CommentsForeclosure Process In Florida? Avoid Foreclosure Monroe
I had to file bankruptcy due to the loss my home took and the ARM rate I was locked into. After SEVERAL attempts to work something out with my lender it became obvious bankruptcy was my only option to avoid the deficiancy judgement. Bankruptcy is done and over with however I am still in the home. I was FINALLY just served my first set of paperwork for the foreclosure last night. Can someone who has been through this tell me what is next? I don’t see a date on the paperwork for the auction of the home and from what I understood I could basically stay in the home until the day of the auction? Thanks for your help.
Sep
29
Avoid Foreclosure Monroe – Do I Have To Pay The Property Tax For Last Year (2007)
In Florida After Chapter 7 Bankruptcy?I filed for Chapter 7 in Oct 07, and got the discharge in Jan 08. In the chapter 7 I chose to just turn the house over to the bank. Now, the bank is going thru foreclosure. Am I obligated to pay the property tax? How do I respond to the foreclosure to avoid paying, since I already moved out and decided to give up the house?
Sep
28
Avoid Foreclosure Monroe – What Can We Do To Avoid Foreclosure? 73039
Posted by: | CommentsAvoid Foreclosure Monroe- What Can We Do To Avoid Foreclosure?
My parents bought their home when we 1st moved to Florida which was in 1998 I believe. We’ve been living in it since then and my parents have been w/ CountryWide for a while and they messed around with their rates and made it a variable rate when it was fixed. My mom has called them countless times to resolve the problem but they just keep giving her different numbers to call. She calls all those numbers and no one even tries to help her. Shes tried looking for help in other places but they’ve been no help, not even the bank can help. We really need help because in 2 months the rent will go up even higher than it has already gone and my parents wont be able to pay it and the house is going into foreclosure. We really dont wanna leave this house and my parents have done a lot of work to it. I am a college student in my 2nd year and dont make much money at all, so Im trying to help them the best that I can.
Is there anyone out there that can help us? We need help right away. Thank You.
Sep
27
Avoid Foreclosure Monroe – Foreclosure Defense Attorney – Helping Homeowners Avoid Foreclosure
The last couple of years have been quite unstable for the housing market. People are facing foreclosure and losing their homes. According to statistics, in Florida 4% of all the mortgages are facing foreclosure proceedings. It is obvious that the situation is really bad; however, a homeowner can seek the help of a foreclosure defense attorney to know his/her options.
The fact is that for vast majority of people foreclosures are stressful, confusing and overwhelming because they do not know much about the foreclosure proceeding. They are not aware of the fact that there are options available to them that can help them avoid foreclosure proceedings.
Loan Modification
A specialized foreclosure defense attorney can lay out the options available to homeowners who are facing foreclosure. Under the Housing Bill passed by President Obama, homeowners facing foreclosure can go for loan modification. Assistance of a foreclosure defense attorney can help a homeowner negotiate the mortgage modification with the lenders.
Short Sale
Still another option that homeowners have is that of short sale. Under this option the homeowner will sell the mortgaged property for less than balance owed on the loan. The proceeds of the sale are given to the lender. Before the sale, the short sale lawyer will negotiate with the bank. The short sale attorney will convince the bank that due to economic or financial hardship, the bank should agree to a discount the loan balance. Therefore, after the house is sold the remaining balance is discounted.
Deed In Lieu
Another way that a homeowner can avoid foreclosure is by opting for deed in lieu. The homeowner’s real estate attorney will negotiate with the lender. The homeowner will sign over the deed or title of the property to the bank and the bank in return will cancel the mortgage.
Bankruptcy
Another option that a real estate lawyer can suggest to a homeowner is that of filing bankruptcy. This will not only stop all foreclosure proceedings but will also give a chance to the homeowner to repay some of the debt and retain the house.
Refinancing
A Florida real estate attorney can also suggest the option of refinancing to avoid foreclosure. Refinancing simply means that the homeowner replaces the existing mortgage with a new one. In most cases, the new mortgage comes with lower interest rates and better terms and conditions.
Reverse Mortgage
A very good option that a foreclosure defense attorney might suggest is that of reverse mortgage. This is simply a loan against the property. A homeowner does not need to repay the loan as long as he/she lives there. However, this option is mostly available to those who own the property and are over 62 years of age.
Contesting Foreclosure
In many cases it has been seen that homeowners can successfully contest foreclosure proceeding. A foreclosure defense Jacksonville lawyer can help homeowners find the legal grounds on which the proceedings can be challenged. It might be possible that the mortgage company has filed the foreclosure proceedings illegally. A cautious attentive homeowner with the help of a foreclosure defense Florida attorney will be able to figure out what is illegal about the proceedings.
The bottom line is that there are several options available to homeowners to help them avoid foreclosure. It is upto the homeowners to seek these options. A foreclosure defense attorney will act as a specialist guide in their efforts to avoid foreclosure.
The last couple of years have been quite unstable for the housing market. People are facing foreclosure and losing their homes. According to statistics, in Florida 4% of all the mortgages are facing foreclosure proceedings. It is obvious that the situation is really bad; however, a homeowner can seek the help of a foreclosure defense attorney to know his/her options.
The fact is that for vast majority of people foreclosures are stressful, confusing and overwhelming because they do not know much about the foreclosure proceeding. They are not aware of the fact that there are options available to them that can help them avoid foreclosure proceedings.
Loan Modification
A specialized foreclosure defense attorney can lay out the options available to homeowners who are facing foreclosure. Under the Housing Bill passed by President Obama, homeowners facing foreclosure can go for loan modification. Assistance of a foreclosure defense attorney can help a homeowner negotiate the mortgage modification with the lenders.
Short Sale
Still another option that homeowners have is that of short sale. Under this option the homeowner will sell the mortgaged property for less than balance owed on the loan. The proceeds of the sale are given to the lender. Before the sale, the short sale lawyer will negotiate with the bank. The short sale attorney will convince the bank that due to economic or financial hardship, the bank should agree to a discount the loan balance. Therefore, after the house is sold the remaining balance is discounted.
Deed In Lieu
Another way that a homeowner can avoid foreclosure is by opting for deed in lieu. The homeowner’s real estate attorney will negotiate with the lender. The homeowner will sign over the deed or title of the property to the bank and the bank in return will cancel the mortgage.
Bankruptcy
Another option that a real estate lawyer can suggest to a homeowner is that of filing bankruptcy. This will not only stop all foreclosure proceedings but will also give a chance to the homeowner to repay some of the debt and retain the house.
Refinancing
A Florida real estate attorney can also suggest the option of refinancing to avoid foreclosure. Refinancing simply means that the homeowner replaces the existing mortgage with a new one. In most cases, the new mortgage comes with lower interest rates and better terms and conditions.
Reverse Mortgage
A very good option that a foreclosure defense attorney might suggest is that of reverse mortgage. This is simply a loan against the property. A homeowner does not need to repay the loan as long as he/she lives there. However, this option is mostly available to those who own the property and are over 62 years of age.
Contesting Foreclosure
In many cases it has been seen that homeowners can successfully contest foreclosure proceeding. A foreclosure defense Jacksonville lawyer can help homeowners find the legal grounds on which the proceedings can be challenged. It might be possible that the mortgage company has filed the foreclosure proceedings illegally. A cautious attentive homeowner with the help of a foreclosure defense Florida attorney will be able to figure out what is illegal about the proceedings.
The bottom line is that there are several options available to homeowners to help them avoid foreclosure. It is upto the homeowners to seek these options. A foreclosure defense attorney will act as a specialist guide in their efforts to avoid foreclosure.
Sep
26
Avoid Foreclosure Monroe – Avoiding Foreclosure
Posted by: | CommentsAvoid Foreclosure Monroe – Avoiding Foreclosure
It isn’t news to anyone that widespread foreclosures are a large problem in our current real estate market. For many families, it can be unavoidable. However, what many people don’t know is that there is help out there for those facing foreclosure. Here are some things to keep in mind:
•Stay Home – When facing foreclosure, stay in your home. If you vacate your property and something happens to it – whether it be vandalized, struck by lightning or broken into – the bank will likely hold you financially responsible for the damages.
•Stay in the Loop – Talk to your lender. If you feel like you’re going to have trouble making next month’s mortgage payment, let them know. Whenever you phone them, follow up your contact in writing. If your lender is more informed of your situation, they will be better prepared – and perhaps more willing – to work with you.
•Stay Realistic – Remember that lenders are a business and they are always interested in making their money back whenever possible. Ironically, banks are less willing to work with those who have made payments for years and built up equity on their home. In those cases, the lender can simply keep the payments they’ve already received and sell the house quickly for considerably less than it’s worth and still turn a profit. If you haven’t been in your home for very long and you haven’t built up a lot of equity, then your lender might be more willing to come to an agreement that benefits you both.
•Stay Safe – Unfortunately, this market has attracted a slew of dishonest scammers and con artists that prey on desperate home-owners. Always – always – do your research whenever you think about getting help from a company or program. Watch out for anyone who insists on being paid upfront. Don’t pay somebody to do something that you could do for free, such as dealing directly with your lender. The Department of Housing and Urban Development keeps track of legitimate foreclosure-prevention programs. Get a list from them.
•Stay Practical – Not all foreclosure-prevention programs will be the answer to your prayers. Many programs offer one-time solutions, often for a single month’s payment. Carefully think about your situation and make sure that such a temporary solution will really make a difference in the long run. It may just be delaying the inevitable.
Sometimes foreclosure is simply unavoidable but there are many times when help can be found as long as you know where to look. Do your research, call an expert, and find out as much as you can about your options for possibly avoiding foreclosure on your home.
Lee Cameron is a professional REALTOR® serving the Orlando real estate market. Lee has consistently proven his talent and knowledge in the real estate business and is known to his flair the business and the care with which he treats his clients. For more info on homes & properties in Orlando contact Lee today.