When a lender forecloses on a property, the sale may not cover the full amount owed on the mortgage. In Florida, the lender can pursue a deficiency judgment to recover the remaining balance. If you face foreclosure, it helps to understand what a deficiency judgment...
Miami homes with second mortgages face extra hurdles during foreclosure. However, many local homeowners are forced to take out home equity loans or lines of credit. When foreclosure hits, these second loans create problems many owners don't expect. What is a second...
Getting a foreclosure notice feels overwhelming. Many Americans face this situation yearly, and the road ahead might seem unclear. Let's break down what happens to your credit score and finances after a foreclosure to help you plan your next steps. What is...
If you fail to pay your mortgage on time, you may lose your property through foreclosure. This process has long-term financial implications, and recovery can be difficult if you are not prepared. Foreclosure is the result of failing to meet your repayment obligations....
Understanding the intricate relationship between bankruptcy and foreclosure in Florida is crucial for homeowners in financial distress. Many question whether filing for bankruptcy means they will lose the family home to foreclosure. Bankruptcy and your family home The...
Most of our readers in Florida probably entered into a mortgage agreement in order to finance the purchase of their homes. These days, with interest rates higher than they have been in decades, a mortgage can become quite a burden if an individual or family’s...
For most, owning a home was a major goal and accomplishment. Thus, when your ability to keep your home is jeopardized by the financial troubles you are facing, it can feel like your dreams and achievements are crumbling. Foreclosure is a process that no homeowner...
Many in Florida are feeling a financial pinch as the cost of living in the Sunshine State continues to rise. At the same time, hourly earnings among Florida workers have gone down from $25.12 in February 2020 to $24.82 in April 2023. This combination of a higher cost...
It has been a long time since anyone described Miami real estate as "cheap." However, in recent years, many people were able to purchase homes in the Miami area because of cheap credit. Because interest rates were low, many families could take out loans to purchase...
When people purchase homes in the Miami area, many will have mortgage payments that fit within their budgets. Mortgages are spread out over decades and during that time, unexpected situations may cause people to fall behind on their payments. If this happens, the...
