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Foreclosures Archives

What steps can you take to reduce the chances of foreclosure?

If you are a Florida resident who has concerns about potentially losing your home, you are not alone. Unfortunately, many people across the state and nation struggle to stay afloat as far as their mortgage payments, and if you count yourself among them, you probably know all too well just how unnerving this can be. There are, however, some preemptive steps you can take to lessen the chance of experiencing foreclosure.

What should you do when your rental property faces foreclosure?

As a landlord of a rental property in Florida, it is your responsibility to live up to your commitment to your tenants. This means ensuring they are secure in their home. While you may own the property, it is their home where they live and take care of their family. If you find yourself in financial trouble, it not only affects you but your renters as well. They are at risk of losing their home and may not even be aware of it.

What are your options for avoiding foreclosure?

The idea of losing your Florida home to a foreclosure can be scary. Essentially, the process kicks you out of your home and leaves you in a financial bind. It can be difficult to pick up and move on after a foreclosure. That is why it is often advisable to try to find an alternative that will allow you to avoid going through the process. 

What is the Making Home Affordable Program?

The real estate market went through some terrible times in the early 2000s across Florida. It put many people's home in jeopardy of being foreclosed. According to the U.S. Department of the Treasury, the government created a program called the Making Home Affordable Program to help you out if you faced foreclosure. It was specifically designed to help you avoid losing your home and to assist you with getting back on your feet when you got into a bad financial situation.

The benefits of foreclosure mediation

While you may do everything possible to stay on top of finances and avoid unnecessary debt in Florida, the need to foreclose on a home can strike anyone. This decision can be heart-wrenching, but there are things you can do to lessen the stress and possibly avoid foreclosure altogether. We at Kingcade Garcia McMaken can guide you through one of these options, foreclosure mediation, to ensure that you get the best possible arrangement for your situation.

I'm facing foreclosure, should I consider a Short Sale?

Foreclosure is a difficult situation to face, but have you considered a short sale instead? Many people don't know the legal opportunity that short sales offer to homeowners who have fallen desperately behind on their mortgage payments. To end your strife and get started on repairing the damage, contact a debt attorney immediately to find out if a short sale is the right option for you. 

Bill calls for closing of loophole in post-bankruptcy foreclosure cases

Now that the state legislature has been back in session for several weeks, it isn't too much of a surprise to see more legislation being introduced in Tallahassee. What is perhaps surprising to see, however, is that one of these recently proposed measures deals directly with bankruptcy and foreclosure, two issues that have recently taken on less significance in post-recession Florida.

I'm Facing Foreclosure, Should I Consider a Short Sale?

Foreclosure is a difficult situation to face, but have you considered a short sale instead? Many people don't know the legal opportunity that short sales offer to homeowners who have fallen desperately behind on their mortgage payments. To end your strife and get started on repairing the damage, contact a debt attorney immediately to find out if a short sale is the right option for you.

Report: New foreclosure filings in South Florida continue to decline

While the past few years of reports on the state of the housing market here in South Florida, particularly as it relates to foreclosures, have shown remarkably steady improvement, many in the industry have remained understandably unconvinced that this trend would endure.

Will a Florida Supreme Court decision reignite foreclosure woes?

In our last post, our blog spent some time examining acceleration clauses in the context of home mortgages. To recap, if a mortgage contains an acceleration clause, it means that in the event of default by the borrower, the lender can seek immediate payment of the full balance of the loan and, failing that, initiate foreclosure proceedings.

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