The last few years have seen Florida's residential real estate market undergo a miraculous recovery. Indeed, the influx of qualified buyers looking to capitalize on record low housing prices in the wake of the recession coupled with improving economic conditions and rising wages has served to fuel demand and create greater overall stability in the housing sector.
South Florida continues to see drop in foreclosures
Given the considerable damage sustained by Florida's housing market during the Great Recession and the length of time it took to start recovering from this damage, people in the Sunshine State -- especially here it hard-hit South Florida -- can perhaps be forgiven for still being a bit skeptical about positive real estate reports.
How much do you know about the horror of zombie foreclosures?
While the nightmarish foreclosure levels reached during the height of the recent recession may seem firmly in the rearview mirror, it's important to understand that the horrors of the not-so-distant past are still very real for some Floridians. Indeed, hundreds continue to be haunted by what have become to be known as "zombie foreclosures."
Federal foreclosure aid available, but Florida fails to act
Some people might reasonably be scratching their heads in wonderment as to why Florida state officials failed to apply for federal foreclosure funding that could have brought an infusion of $250 million into the state for distressed homeowners.
Florida still struggling with foreclosures, underwater mortgages
Two of the nation's leading real estate analytics groups, CoreLogic and RealtyTrac, have released reports over the last month examining the state of the U.S. housing market as it pertains to such factors as completed foreclosures, foreclosure inventory and underwater mortgages.
Report: Florida continues to rank high for foreclosure activity
Back in January, our blog discussed a report from one data analytics group examining the state of the foreclosure market in 2015. Here, the report concluded that while the scars of 2010's foreclosure crisis had largely healed, it's effects were still lingering in many states -- including Florida.
Report shows foreclosure still an issue in Florida
Just yesterday, the real estate analytics firm RealtyTrac released a rather eye-opening report examining the state of the foreclosure market in 2015, breaking things down on a national, state and local level.
Neighborhood Stabilization Initiative includes Miami-Dade County
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.
Can filing for Chapter 7 bankruptcy prevent foreclosure?
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?
The foreclosure quandary: far from over in Florida
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.
