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Mortgage Modifications Archives

Bankruptcy filings expected to increase in Florida

Even though bankruptcy filings are down around the country, the U.S. Bankruptcy Court for the Middle District of Florida is struggling with backlog cases. Furthermore, many expect the overall number of filings to actually increase as many Florida residents end up filing as a way to try and avoid foreclosure.

Florida condo highlights short sale, foreclosure, complications

When it comes to being in default on mortgage payments, not only is there the fear of possibly losing the home to foreclosure, but the entire process to try and hold on to that home can be quite frustrating and complicated. In fact, the complications that have cropped up in the past are even more proof of just how dysfunctional the current mortgage market is in the U.S.

Florida homeowners continue to face foreclosure fears

Realizing that you simply cannot afford to keep up with mortgage payments is hard. There's the worry of just what is going to happen and where you are going to live, and for some, a certain amount of shame realizing that you may end up losing your home.

Judicial states, like Florida, hit harder by foreclosures

While recently released numbers show an overall decrease in nationwide foreclosures, it turns out that all of the judicial states combined actually saw an increase as opposed to a combination of all of the states where a judge is not required to sign off on a foreclosure. Florida is a judicial state.

South Florida sees decline in delinquent mortgage payments

One of the nation's largest home loan servicers is seeing a decline in the number of delinquent payments by homeowners in South Florida. In less than a year, those homeowners that were at least 60 days late dropped by a third, according to a spokesperson for Bank of America. The numbers show the decline from 30,000 late homeowners in June of last year to 19,000 this month. According to a federal report from the U.S. Department of Housing and Urban Development, this is a national trend as well.

New lender guidelines may lead to increase in Florida foreclosures

In Florida, on average it takes 861 days from the time a person stops paying their mortgage to when the foreclosure process officially comes to an end with the bank taking complete control of the home. However, now with strict guidelines for banks in terms of repossession, the thought is that foreclosures will increase in Florida and across the country.

Forida drowning in underwater mortgages

When a family income is reduced by the loss of employment, underemployment or an unforeseen increase in medical expenses, they can end up getting behind on their mortgage payments. And while bankruptcy is one way to halt a foreclosure, a mortgage modification can also help a person avoid foreclosure.

More homeowners expected to receive mortgage modifications

If all goes as planned, in the future, more struggling homeowners in Florida, and around the country, who are in fear of losing their home to foreclosure, may be able to find some needed relief through the federal Home Affordable Modification Program.

Center controlled by Miami Dolphins owner receives modification

The owner of the Miami Dolphins recently agreed to the terms of a mortgage modification in order to avoid foreclosure on a building that he controls in Florida. The modification news came right before the holidays, which most likely resulted in a huge sigh of relief for Barnes & Noble and Macy's, which are both housed in the 756,471-square-foot CityPlace mixed-use center.

Orlando Mortgage Modification program seen as model for state

With a record number of home owners facing financial hardship and foreclosures on their homes, including many in the Orlando area, many people are looking for alternative ways to pay and lessen their burden. A pilot program for mortgage modification started last year in the Orlando area and not people across the nation are taking note.

ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
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