Florida Foreclosure Help in Hollywood, south Florida short sales

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Foreclosure Rate Continues to Decline
Foreclosure activity has fallen to its lowest level in over three-and-a-half years, according to RealtyTrac.
The number of foreclosure filings in July was 35% down on the same month last year.  212,764 properties received either a default notice, auction notice or was repossessed by the lender.
This means that for 10 months in a row foreclosure filings have been coming down.  Still, this is one out of every 611 housing units- just in …

In their desperation to get non-performing loans off their books, banks like Chase and GMAC are offering incentives to homeowners to do a short sale.
“Cash for Keys” is where the banks, like Chase, will pay the homeowner $3,000 has been around for awhile for deed-in-lieus but now the banks are encouraging more and more homeowners to do a short sale and offering a financial incentive!
The banks have too much inventory and too many more properties still coming into foreclosure over the next 4 years, so they are looking at other …

According to Reuters, many major mortgage lenders are are still taking short cuts in the paperwork they prepare and file in foreclosure cases!
When this problem surfaced last year, it led to a moratorium on foreclosures and the major foreclosure mill in south Florida dissolved as the banks were forced to stop using it.  It is hard to believe that banks are resorting to the same tactics again.
According to Reuters, there are at least six people who have each signed thousands of mortgage assignments in recent months.  Their job is to …

Sales of previously owned single family homes in Broward County are up in June, while condo sales were down slightly. 
Summer is typically a busier time for single family homes as families want to move in before the new school year begins.
Unfortunately, the increase in home sales is unlikely to continue.  High unemployment, stricter lending rules and continued delays in processing foreclosures are preventing any recovery in the short term.

02/25/2011
By Edward McCray
Short sales from the Home Affordable Foreclosure Alternatives Program have mostly been pursued by homeowners who were in an underwater situation or who may have been unsuccessful at finding a foreclosure prevention program through modification efforts, but could find a buyer for their home even if an underwater mortgage situation was present. Typically, homeowners have sought out short sales when negative equity was the problem, but there are some indications that more servicers may attempt to get homeowners to agree to a short sale in the coming year …