Category: Foreclosure

Foreign Investors Are Procuring More Loans

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

As Investors Retreat, Home Values Stall

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

Florida’s Legal Aid Societies are in Grave Danger

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

Developmental Program For Accelerated Substitute to 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

Foreclosures in Miami are Reducing

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

Housing Boost for Broward County

Home sales have continued to rise in the past couple of months nationwide. In Broward County, it is no different. Those who are attempting to sell their properties are finding that there are a lot more self-assured buyers with the now steading housing market. Therefore, the interdependence between buyers and sellers will unravel the economical

Bank of America Pays Florida $1 Billion in Settlement

The Florida Attorney General’s Office declared that Bank of America will be providing a billion dollars for relief. It will go to approximately 17,000 Floridians over a settlement for mortgage security fraud. Bank of America Corp paid $16.65 billion to finalize the investigation; for the sale of harmful mortgage securities by federal, Florida. And, other

Billion Dollar Condo Redevelopment Comes to Fort Lauderdale

In the past 36 months, developers of the Greater Downtown Miami area have announced their plans. The plans have to do with the creation of 65 new Towers; while the Fort Lauderdale area has sat by unproductive. This, however, was changed with news released last week. In a report provided by the Sun-Sentinel, the partnership

South Florida in the Top 10 Markets of New Home Sales

According to Metrostudy Research Firm, South Florida ranks among the top markets of home construction. The tri-county area is ranked ninth in the country. This was after conducting a nationwide survey of nearly a thousand communities, including job and population growth with housing evidence. The construction business is doing very well right now. The reason

Palm Beach County Makes The Top 5 Highest Asking Prices In The Nation

The real estate market in South Florida is changing drastically. Palm Beach County home sellers are putting big price tags on their homes. According to Trulia.com the asking prices for the properties have increased 14.5 percent in the area compared to August of last year. They are the fourth raking region in the nation. Lakeland