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Mortgages Archives

Loan modification an option for those struggling with mortgage

When it comes to the larger purchases and decisions in your life, none is much larger than the decision to buy a home. What this requires of you financially, and what it might mean emotionally for the buyer and other loved ones, is enormous. However, over the course of a mortgage financial situations may fluctuate, or an event may happen that greatly affects one's finances. This is when Fort Lauderdale resident may look for another option, like loan modification.

Florida borrowers struggle with mortgages after hurricane

Broward County residents, like others throughout Florida and the southeastern United States, have been hit particularly hard during the Atlantic hurricane season of 2017. Those who own property in Florida, a recent report found, are now having difficulties with their mortgage payments.

Understand the home mortgage agreement

Making the decision to buy a home is an exciting one. Whether you are buying your first home or you have been through the process in another home sale, no two experiences will be exactly the same. Most people opt for a mortgage, also known as a home loan, to finance the purchase. Understanding who might finance that loan and what to look out for while going through this process is crucial to achieving a favorable mortgage agreement.

Some tips to consider when dealing with a mortgage, part 2

Last week a post here covered some tips to keep in mind when purchasing a home and obtaining a mortgage. Purchasing a home can appear to be a daunting task, but it does not have to be. If you make your decisions one at a time, with foresight and a strong knowledge and understanding, you will be on the road to success.

Some tips to consider when dealing with a mortgage, part 1

One of the most exciting times in a person's life is when an individual or family decides to purchase a new home. Since few Americans are able to pay upfront in full for a home, it is not uncommon to sign a mortgage. Although this transaction may appear to be stressful and does come with a large commitment, there are several things you can consider to make certain that your decisions are sound and wise and in your best interests.

Florida real estate market's recovery spotty at best

The residents and business owners in Broward County, Florida, remember the boom times of the late 2000s and the catastrophic economic crash that started in late 2008. The crash caused a financial fallout which rippled through all of the Florida economy and, in particular, affected real estate values.

What is a deed in lieu of foreclosure?

When a Fort Lauderdale resident has been refused a short sale or denied a loan modification and is underwater on his or her mortgage, they may consider a deed in lieu of foreclosure. This is a document that transfers title from the homeowners to the bank that holds the mortgage. The homeowner has to sign the document and it has to be notarized by a notary public.

South Florida residents pay quite a bit for mortgage payments

When potential homebuyers are getting ready to submit an application for a mortgage, most experts note that these individuals should devote no more than a certain percentage of their income to mortgage payments. For instance, for years, the rule was 20 percent: no more than 20 percent of a homeowner's monthly income should be devoted to the monthly mortgage payment. So, are South Florida residents following this rule?

Getting the right help with a mortgage in South Florida

The excitement that comes with searching for a new home in South Florida is sometimes overwhelming, as potential buyers scan the internet and other sources looking for the perfect new residence. After all, buying a home is one of the biggest commitments that a person will make in life, both personally and financially. Our readers who are in the process of making this decision will want to get it right. That is why it is so important to think about the financial aspects of this type of real estate transaction. And, for most people, that means it is time to think about what to look for in a mortgage lender.

Is the health of the real estate market impacting foreclosures?

Several of our recent posts here have examined the ongoing fluctuations in the South Florida real estate market. In a market that had been surging forward on high demand and expanded residential development, there have been some signs that a bit of a slowdown is happening. But what do these fluctuations mean for those who already own a home and who have a monthly mortgage payment to make? Is the relative health of the South Florida real estate market impacting foreclosures in the local area?