Month: October 2014

Associations Need To Be More Diligent During The Foreclosure Process

Written By: Emil Fleysher | October 31, 2014 | Debt
Homeowners and condominium associations were doing an adequate job of collecting monies. This is due to them including write-offs that were so troublesome or hard for the association to deal with. This is all before the market crashed in 2008. The court system became highly overwhelmed with mortgage foreclosures. And, unchallenged cases would typically take
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Foreclosure in Palm Beach County are Continuing to Decrease

Written By: Emil Fleysher | October 29, 2014 | Foreclosure
Palm Beach County has a small increase in new foreclosure cases in September; however, they were still lower than in September of last year. This is all according to the Clerk & Comptroller’s latest statistics in Palm Beach County. In September, 484 new foreclosure cases were filed. 480 cases were filed in August providing a
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The Drop in the Market Might Be a Blessing In Disguise For Refinancers

Written By: Emil Fleysher | October 23, 2014 | Foreclosure
An absurd amount of Americans are questioning whether or not they should refinance their mortgage. This is due to the unexpected fall of rates last week. These inquiries were coming in by the millions from current homeowners and soon-to-be-homeowners who are looking for a bargain. The favorable circumstance came from the commotion that got the
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Foreign Investors Are Procuring More Loans

Written By: Emil Fleysher | October 17, 2014 | Foreclosure
Lenders are granting non-U.S. residents better access to credit, i.e., loans, in order to finance investment properties or vacation homes. This is happening through a foreign-national mortgage without them ever having to step into the U.S. This loan service for people abroad requires that they put at least 40 percent down on a property. These
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New-Home Sales Include New Incentives

Written By: Emil Fleysher | October 15, 2014 | Short Sale
As the real estate market has begun to cool down, many builders are throwing incentives to prospective buyers to see who will bite. Some are including pools or built-in barbecues. Meanwhile, others are agreeing to cover up to $10,000 in closing costs or subsidize mortgage rates. From Sacramento, California to Orlando, Florida builders are doing
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As Investors Retreat, Home Values Stall

Written By: Emil Fleysher | October 10, 2014 | Foreclosure
The increase in home prices has begun to slow down due to less interest from investors. On a seasonally adjusted basis, during the month of June, property prices only rose 0.1 percent, according to the Federal Housing Finance Agency; as opposed to the estimated 0.5 percent that data gathered by Bloomberg predicted. After helping to
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Valueless Junior Liens are Allowed to be Stripped Away from Debtors

Written By: Emil Fleysher | October 9, 2014 | Bankruptcy
 During the recession property values were so high. And, obtaining credit was almost as simple as getting something out of a vending machine that many owners took out two and even three mortgages. However, when the market crashed and the surplus ended, many were left swimming upstream without a paddle. With such a large amount
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Florida’s Legal Aid Societies are in Grave Danger

Written By: Emil Fleysher | October 8, 2014 | Foreclosure
Florida’s legal aid societies are slowly crumbling. This society is in place to assist the poor in battling foreclosures and evictions and collecting government benefits. However, Florida's legal aid societies are in peril. Due to financial cuts from the state, local governments, and the Florida Bar Foundation the organization might not be allowed to remain
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Developmental Program For Accelerated Substitute to Foreclosure

Written By: Emil Fleysher | October 7, 2014 | Foreclosure
The U.S. bankruptcy trustees have initiated a developmental program. The program could drastically quicken the sale process of homes by Fannie Mae, Freddie Mac, and other major lenders. Instead of allowing properties to sit on the sidelines while the bankruptcy process plays out, the program would cut years off the sale of said properties and
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Foreclosures in Miami are Reducing

Written By: Emil Fleysher | October 1, 2014 | Foreclosure
The rate of foreclosures in Miami has fallen by 5.9 percent in July. This has been its lowest point since the crash of the housing market. Unfortunately, Miami, which also includes Miami Beach and Kendall, are still among the highest in the country. The number of outstanding mortgages averages at about 1.7 percent in the
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