Tag Archives: Florida

Short Sales Gain In January And February 2012

USA Foreclosures 101

Two months ago Bank of America announced plans to streamline its paperwork process in order to allow more distressed homeowners to get out of their obligations through a short sale rather than going through foreclosure. The news was greeted happily by some who saw it as a means of helping these homeowners and bringing some stability to the housing market. Others rebuffed the announcement claiming it was just a publicity stunt by Bank of America … Continue reading →

Foreclosure Affecting More Than Just Homes

USA Foreclosures 101

In light of the continually troubled housing market it’s understandable that the vast majority of attention being paid to foreclosures is squarely on distressed homeowners and their properties. But truth be known, foreclosures go far beyond just residential properties. All over the country commercial enterprises are finding themselves in serious financial trouble as well. Among some of the hardest hit are America’s churches. Such is the case with Faith Christian Church of Lakewood Ranch, Florida. … Continue reading →

New York Joins Other States To Move Foreclosures Along

USA Foreclosures 101

Frustrated by long delays and the seeming inability of mortgage lenders to complete the loan modification process, New York State’s courts are adopting new procedures that would allow judges to exercise more control over individual foreclosures. The measures are expected to help speed up the foreclosure process by forcing lenders to either modify loans according to the law or complete the foreclosure altogether. New York joins 19 other states taking similar measures to help bring … Continue reading →

Florida Foreclosure Bill A Good Compromise

USA Foreclosures 101

It’s no secret that the state of Florida has one of the highest rates of abandoned houses in the nation. The housing boom of the late 1990s produced a wave of construction projects promising investors big returns if they would simply build the houses. When the bust occurred some 10 years later many of those same investors were left with empty houses they could not sell. As a result, neighborhoods with large numbers of abandoned … Continue reading →