Florida Foreclosure Help in Hollywood, south Florida short sales

Oct 3, 2010 Half the local governments in Broward County are raising their taxes and half are staying the same as last year. According to The Sun-Sentine,l 31 out of 38 cities will be collecting less tax revenue due to continued declines in property prices. This is the third year in a row that cities have faced declines in property tax revenue.
The Proposed Budget for Hollywood in 2011 totals $352,596,054. This represents an increase
of 2.7% or $9,320,568 from the FY 2010 budget. To do this, the city is running at …

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 …

There are many people all across the country that are trying to save their homes every day, but Florida foreclosure help is needed desperately. Although there are a numerous people in the United States that are clinging to their homes, the state of Florida has been deeply impacted by the mortgage crisis. In fact, the combination of the mortgage crisis with the steady high unemployment rates is making the mortgage situation in Florida quite bleak. People that need assistance with keeping their homes have options available to them. Before people …

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, …

There is a danger of another wave of foreclosures hitting South Florida, according to Blomquist from RealtyTrac. RealtyTrac reported that nearly 38,000 Broward homes were in some stage of forelcosure during the first half of 2010.

With all 4% of homeowners receiving a foreclosure notice during the first half of 2010, the Miami metro area has the nation’s 10th highest foreclosure rate, according to RealtyTrac.
That Miami metro area, which includes Palm Beach, Broward and Miami-Dade counties, had 94,466 homes in some stage of foreclosure from January to June. That’s an 8% decrease from the previous six months, but up almost 11% during the same time period last year.
RealtyTrac, a research firm based in Irvine, California, studies the nation’s top 200 metro areas. It compiles …