Beginning on Dec. 1, the Federal Housing Finance Agency will open up the housing market in Florida counties such as, Miami-Dade, Broward and Palm Beach, to include more than 2,000 homes that have been foreclosed. Similar efforts have also begun in Detroit and Chicago earlier this year.
There are a wide variety of reasons people begin to consider filing for bankruptcy, from burdensome medical bills to credit card overuse to bad tax decisions. One common reason folks begin to consider bankruptcy is that they become unable to make their mortgage payments. But can a debtor really stop foreclosure by filing for bankruptcy?
Hopefully, South Florida residents will someday be limited to merely reading about the region's persistent foreclosure calamity, with specifics being cast in the past tense.
We've seen these numbers before and can perhaps continue to draw the same conclusions regarding them.
Location, location, location.
We relate a tale today that we are quite sure will inspire wrath among many of our readers, for justifiable reasons.
So-called "shadow inventory" flooding the market.
It has to be coming. The day when the term "zombie foreclosure" isn't routinely linked in the same sentence with the state of Florida must be inexorably approaching.
It’s a contest with other states that Florida officials would undoubtedly prefer to lose.
Well, here’s a business model that an overwhelming number of people across the country would view as unprincipled and even egregiously unethical: buy up old mortgage debt for a fraction of its face value and then go after debtors for what is still allegedly owed, often years after those debtors went into foreclosure and their properties were sold by lenders.