Blog Posts in 2011

  • Government Program to Review 2009 and 2010 Foreclosures

    || 2-Nov-2011

    The U.S. Government has kicked off a new program that allows homeowners who were foreclosed in 2009 and 2010 to request an "independent" review of their mortgage foreclosure if their loan was serviced by one of 14 servicers, including Bank of America, Chase and Wells Fargo, whose servicing and foreclosure processes were found to have "significant weaknesses". Under the program, ...
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  • Bank of America has just announced new short sale incentives to encourage distressed Florida homeowners to explore short sales and avoid foreclosure. The announcement indicates that homeowners would be eligible for at least $5,000 in relocation assistance payments with a maximum payment of $20,000 - and the homeowner may be eligible for a waiver of deficiency. However, the short sale must be ...
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  • Florida Supreme Court Reconsidering Mandatory Foreclosure Mediation

    || 5-Oct-2011

    Since 2009, mediation has been required in all residential foreclosure actions involving homestead property in Florida through an administrative order issued by the Florida Supreme Court. (Actually, the mediation effort was originally spearheaded by the Twelfth Judicial Circuit's own Judge Lee Hayworth, a trailblazer in the area of the court administration of mortgage foreclosures!) Last week, ...
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  • More Mortgages Trend Toward Foreclosure and Short Sale

    || 28-Sep-2011

    Based upon recently published census data, a dangerously high percentage of mortgage holders in Sarasota, Florida and all of Southwest Florida are in danger of future default and possible foreclosure. In Sarasota County, 41% of mortgage holders spend more than 35% of their income on housing payments (mortgage, insurance, taxes and home maintenance expenses). Real estate consultant Jack McCabe ...
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