Florida Foreclosure Help in Hollywood, south Florida short sales

Florida is one of the states that have been hardest hit by the mortgage meltdown which is why Florida foreclosure mediation is a necessity. With the large housing boom that tanked with the recession, there are currently thousands of people in the state of Florida that are in danger of foreclosure and are looking for ways that they can keep their homes. Oftentimes there are solutions to mortgage problems, but people simply wait too late to seek the help that they need to save their homes. With foreclosure mediation, individuals …

Going to mediation is such an overwhelming process.  It almost feels like going to a criminal trial without being represented.  Everything is recorded and the bank is represented by a seasoned lawyer.  Although the system was treated with good intentions, mediation is not in your best interest.  For starters the mediator is not allowed to give you any legal advice if they could.  They are armed with only basic foreclosure knowledge.  With only this knowledge how is a mediator suppose to stand up next to the foreclosure department of a …

If you’ve been following along, I’ve already discussed your other available options when it comes to foreclosure mediation in Florida. It’s time to discuss the final option they give you, the deed-in-lieu
Deed-in-Lieu of Foreclosure (DIL)
The name could be considered a misnomer. A deed-in-lieu of foreclosure is more like a voluntary foreclosure. If you accept a deed-in-lieu, you are willingly signing over possession of your home to the bank.  All the negative effects that are included in a foreclosure are also included in a Deed-in-Lieu. It is treated on your credit …

Previously, I wrote about trying to negotiate a loan mod with your bank during a Florida foreclosure mediation session. If you are not able to get approved for a loan mod or you do not or cannot continue paying on the property you have a second option, the short sale.
Short Sales
A short sale is when the banks allow you to try and sell the house for less than what you owe. With housing prices still falling in South Florida this has almost become the only way to sell a house. …

Florida requires the banks to notify you that you have the option of going through mediation before the foreclosure trial is set. The issue with this is that there is no clarification as to how the banks must notify you. Therefore, the only way you find out you have this option is by a single letter sent to you after the suit has been filed. The banks don’t even send it, the mediation company does. Once the suit has been filed you have 120 days to call the mediation company …

How does Florida foreclosure mediation work?
Florida passed a law requiring banks to allow homeowners the chance to meet with them to try to resolve their delinquent mortgages without having to go through the already overcrowded courts. Homeowners meet with their lender and a third party, the mediator, in a neutral location to try and work out options to stop foreclosure. During this time the homeowner’s current financial situation is reviewed and they are given a chance to explain why they are behind on their payments. The homeowner is allowed, …

It’s sad to say that during these troubled times more people are watching their homes go into foreclosure. This happens to homeowners for many reasons. Whatever the cause, lenders do not think of homeowners as humans. They are a calculated number, a risk and if you are a negative number to them, your options may be limited. Without knowing their options, a homeowner can be left feeling very helpless.
Once a homeowner falls behind on their mortgage payments, the calls start flowing in like floodwaters from a broken dam. This is …

Going through foreclosure is a frightening experience. You may feel like you are all alone, but it doesn’t have to be that way. There is help out there and there are options! The problem is they are not always easy to find.
Depending on who your mortgage company is, you might be able to find help within their foreclosure department. A word of warning: these people are busy and you will have to be persistent in order to get them to call you back. Regardless of how cold they may seem …

What is Foreclosure Mediation?
Foreclosure Mediation means that a third party, an arbitrator, acts as a mediator between the homeowner and the lender in order to come to a solution to prevent foreclosure. Both Broward and Palm Beach counties use the American Arbitration Association while Miami-Dade uses Collins Center to handle their mediation program. In both cases, the forms and process are the same.
How does it work?
Once a foreclosure case has been filed, the homeowners information will be given to a case manager for the foreclosure mediation company. The mediation company …