Florida Foreclosure Help in Hollywood, south Florida short sales

Sep 27, 2010
If you‘ve been keeping up with the news, you’ll have heard that more and more banks are in trouble. This should be no real surprise – it was the big banks that got the bail out money. 279 banks have collapsed in the two years since Washington Mutual went under. Gerard Cassidy of RBC Capital markets was quoted by The Sun-Sentinel as saying that the impact has been “far more severe” than the savings-and loan crisis.
Nearly three-quarters of Florida banks lost money last year. Their combined losses totaled …

The Obama admistration has done home owners and everyone else a great disservice by making great announcements about how they were going to help distressed homeowners in Hollywood and elsewhere. HAFA and HAMP were both set up with the pronounced aim of getting loan modifications. Every distressed homeowner in Hollywood thought that they were going to get a big break on their mortgage. Thousands turned out last week for the NACA marathon event at Palm Beach Concention Center  to get a break.
What is the reality? Are you ready for a quick …

According to the “Sun Sentinel”, house prices in Hollywood have dropped as much as 60% since June 2005.
The zip codes 33020 and 33023 were the worst hit areas in Hollywood, with prices dropping between 50 and 60 %. Zip codes 33019 and 33021 saw price drops of between 40 and 50 %. This was pretty much on a par with the rest of Broward County, with the biggest price drops over 60% in four zip codes, while the smallest drops were out west and were less than 10%.
What about …

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. …

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 …

How did you feel when you opened the first letter from your lender telling you that you are behind on your payments and that they DEMAND you bring it current? It probably evoked both pain and anger. How can they demand anything when they do not even know your circumstances? To the banks you are nothing more than a number, a cold, calculated risk and as long as you pose a low risk, they won’t bother you, but the second you become a high risk, it’s like a dam burst …