For some homeowners who are facing foreclosure, a mortgage modification is a possible way to stop the foreclosure. Because these loan modifications can be complex, having someone familiar with them by your side as you go through the process is vital. For Florida homeowners who are considering mortgage modifications, knowing some basic information might help them to make a decision about how suitable this program is for their case.
It is no secret by now that foreclosures are affecting many families in Florida. While Florida is known as one of the top vacation spots in the country and the home of a world renowned amusement park, the state also holds the distinction of being one of the top states for foreclosures. While the number of families facing foreclosure is down, late mortgage payments are still plaguing one out of every 10 homeowners in the Sunshine State.
When someone buys a home, they usually look forward to being able to do whatever they want to their home when it comes to decorating it. While that is the case for many homeowners, those who are under the thumb of a homeowners' association might not be able to fulfill that dream. A recent story about a Florida veteran who was facing foreclosure because of his HOA is a story that might make some people shake their head in disbelief.
Some residents in Florida might soon be getting some compensation for having to deal with foreclosure abuse and mortgage servicing misconduct by Ocwen Financial Services. More than 26,000 residents had their homes foreclosed upon from January of 2009 through December of 2012.
It seems as though people in Florida just can't get past the massive foreclosure filings that are keeping the state in the top spot for number of homes in the foreclosure process. For the eighth straight month, Florida holds that dubious distinction.
With one out of every 400 homes in Florida currently at some stage in the foreclosure process, it likely won't come as a shock to residents to learn that a home is going up for foreclosure. While it won't comfort Florida homeowners who are facing foreclosure, some might be interested to learn of a movie star who is facing foreclosure on his huge Florida home.
An arbitrator involved in litigation between two developers for Miami Worldcenter and a commercial broker ruled recently in the developers' favor even though attorneys for the broker say the arbitrator's award cannot be used against her in pending litigation.
Florida is again leading the nation for the number of foreclosures. Sadly, for homeowners who are receiving foreclosure notices, this fact is probably not really news. In fact, a foreclosure was filed on one out of every 400 homes in the state last month. The report from RealtyTrac might be just what some homeowners need to remind them that they aren't alone when they go through a foreclosure.
Almost all homeowners are aware that there are programs available to help homeowners who are behind on their mortgage payments. These programs have left a bad taste in the mouths of some homeowners who have worked to try to keep their mortgage payments up but still need help.
Getting a notice of foreclosure on your home in the mail isn't something that any homeowner wants to happen. For millions of homeowners in the country, that is a sad reality. While some homeowners are able to secure loan modifications and other arrangements from the mortgage holder that will allow them to remain in their home, that isn't always the case. For some homeowners facing foreclosure, filing bankruptcy is the only way to keep their home.