Foreclosures in Florida have been a big problem since the Great Recession. While the nation as a whole is recovering from the foreclosure boom, Florida still tops the list of states with the most foreclosures with more than double the state in the number two slot.
We have often discussed how foreclosures are affecting some families in Florida. While some people opt to fight that foreclosure, others decide that it is best to simply move on. Those people move out of the home that is being foreclosed upon. In some cases, those homes begin to become an eyesore. Those abandoned homes are considered zombie foreclosures.
Floridians who are struggling to make their monthly mortgage payments and fear foreclosure can turn to some programs that President Obama initiated. The administrators of most of the below programs for American consumers are the Departments of Housing and Urban Development and the Treasury.
It's said that timing is everything, and that can be especially true when it comes to financial matters. Florida residents may be interested in knowing that some in the financial industry believe that interest rates will again be climbing later this year.
When it comes to foreclosure, it is no secret that Florida has had more than its fair share of difficulties. It seems as though those troubles haven't quite gone away yet. Florida is still one of the states at the top of the foreclosure list.
Facing a foreclosure on your home is nothing that anyone ever wants to go through. Fortunately for Florida residents, keeping your home despite the foreclosure might be possible. Florida was one of the first states to mandate mortgage modification mediation. This program can prove useful for some homeowners who need to hang on to their primary residence.
In our Nov. 12, 2014 blog post, we discussed some of the points surrounding a judicial foreclosure. That post might have some of our readers wondering what they should do if they find out that their home is facing a foreclosure. The truth is that there are several options available for homeowners who are facing foreclosure. Which option is the best for one person might not be the best for another, so anyone facing foreclosure should understand all his or her options.
We have often discussed foreclosures in Florida. Those blog posts might have some of our readers wondering how the foreclosure process works in the state. Knowing a little bit about foreclosures might help you to make decisions about how you should handle a foreclosure.
The chairman of the Federal Housing Finance Agency, which is the agency that oversees the two government-sponsored enterprises Freddie Mac and Fannie Mae, gave a recent speech at the yearly conference of the Mortgage Bankers Association. He suggested that mortgage bankers may begin loosening their underwriting standards in order to increase home sales.
In last week's post, we briefly discussed deficiency decrees and how those can affect homeowners who are facing foreclosure. Our readers in Florida might like to know more about deficiency judgments and how they work.