Law Office of Kimberly A. Abrams & Associates, P.A.

Mortgages Archives

Mortgage loan modification not perfect, but is viable option

Purchasing a home is an exciting milestone in life. Before buying, home seekers are put through a strenuous process by banks to see if they qualify for a loan. If they do qualify, then they can purchase their home. However, though the mortgage payment may be manageable at first, unexpected life events can render the payments difficult to make. The loss of a job, a cut in wages, or increased expenses from health-related issues may all affect a family's ability to pay their mortgage bill.

Foreclosure hits former Miami Dolphins player Daunte Culpepper

When a South Florida homeowner fails to make a mortgage payment on time, it can be a problem. And when a homeowner is faced with a situation where they are consistently making delinquent payments the problem can be magnified. But the worst case scenario is a foreclosure, and that appears to be the situation for former Miami Dolphins quarterback Daunte Culpepper.

Planning to wait? Expect a big change in your mortgage plan

Buying property can seem like a risky proposition to many South Florida residents, especially when the national housing market is still in a state of flux as the slow but steady recovery continues. For many, the thought of signing a 30-year mortgage can be off-putting, given the economic circumstances in many markets. However, according to a recent report, the recent turnaround in interest rates - for those who don't know, they are rising - has apparently begun to spur many buyers into taking the leap into the market.

South Florida homeowners still facing foreclosure

A South Florida reader who frequents posts here has seen one undeniable trend: the local real estate market, for the most part, is as hot as can be right now. Great news all the time, right? That is usually the case, but for many homeowners in the area good news is still something they are waiting for.

South Florida foreclosure rate makes news - and it isn't good

Anyone familiar with previous posts here probably thinks that it is all "sunshine and roses" for the South Florida real estate market. There have been plenty of indications that this is true, from continually rising home prices to residential development, and even some news of bidding wars for the choicest of property. However, for those who have been buying and selling homes and other properties in the South Florida area in recent months, it can be easy to forget that there are still millions of Americans, including many in the local area, who are still having problems meeting their monthly mortgage payment.

State programs may help South Florida borrowers

Our South Florida readers have probably seen a lot of the proposals batted around in the news about the best ways to help homeowners who are struggling to make their monthly payments. Previous posts here have detailed the historic $25 billion settlement between the majority of states and some of the biggest lenders in the country, with much of that money to be designated for homeowner relief. And, many of our readers keep up with the news out of Washington, D.C., and the Federal Reserve, where interest rates are being kept at an all-time low in part to help stimulate mortgage lending. However, some may not have heard about the Hardest Hit Fund, right here in Florida.

Settlement funds may help Floridians facing foreclosure

A previous post here back in September discussed the positive implications for homeowners in Florida coming out of the historic $25 billion settlement that the majority of states agreed to with some of the country's largest mortgage lenders. A large portion of the funds agreed to were to go directly to helping homeowners who were facing delinquent payments and other problems associated with their mortgage plans. However, Florida lawmakers have been wrangling with the state Attorney General over about $300 million of the funds. Now, it appears the two sides have come to an agreement.

Benefits of $25 billion settlement begin taking effect in Florida

It has been quite a while since the historic $25 billion settlement between forty-nine states and some of America's largest banks has been a topic here. However, there are perhaps some of our South Florida readers familiar with the housing case that has reportedly helped many reduce the principal amount owed on their mortgage.

Can you negotiate with your lender to complete a short sale?

Although most of our previous posts show how the South Florida area is faring much better than many other real estate markets, there are some who are still suffering from the housing meltdown. Those South Florida residents who have a home that is "underwater" -- worth less than is owed on it -- a mortgage loan modification sometimes isn't an option. But, for many, there is another option: a short sale.

Floridians may not be having as much trouble with mortgages

Facing foreclosure can be one of the scariest things a homeowner has to deal with. The possibility of foreclosure can sometimes be seen ahead of time, starting with delinquent payments, moving on to trying to negotiate a new mortgage plan with the banks and then, eventually, leading to a foreclosure. But, a recent report came out recently suggesting that the years of problems residents of South Florida have faced in complying with mortgage payments may be easing.

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