Law Office of Kimberly A. Abrams & Associates, P.A.
954-985-9715

Mortgages Archives

Mortgages are complex, but can the process be simplified?

Let's face it: electronics have changed almost everything. Over the last twenty years there have been so many advances to change society's level of interaction, as well as the way people interact, that now it is almost impossible to imagine how we managed without cell phones and computers. Homeowners have probably seen some changes in how they interact with banks, with many now preferring an automatic withdrawal to pay the monthly mortgage payment.

Mortgage costs in Florida are high, but is the risk worth it?

When the nation was slammed by the burst of the housing bubble, South Florida wasn't able to escape the ramifications. Property values plummeted throughout the state, forcing many homeowners to seek a mortgage loan modification. This allowed them to avoid delinquent payments or foreclosure.

Foreclosures up in May -- real estate market problems persist

Unfortunately, the bad news concerning the national housing market continues to flow, as the numbers for the month of May indicate that there was a 9 percent increase in the amount of foreclosure filings from just a month ago.

Can HARP revisions benefit South Florida residents?

Many of our readers in South Florida may be familiar with the government program known as the Home Affordable Refinance Program, or HARP. Under this program, which began in 2009, people who owe more on their homes than the homes are worth can refinance the associated mortgages through a more streamlined, efficient process.

Struggling Florida homeowners may get relief from Bank of America

While we have frequently discussed the recent upward trend of the South Florida real estate market, it is important to remember that, while the picture in some cases may be improving, many homeowners are still struggling. Florida was one of the hardest hit states during the housing meltdown, and a full recovery is far from complete.

March foreclosure numbers reviewed, market remains muddled

Most of the real estate news that South Florida residents hear these days is good, but that is not the case throughout the rest of the nation. Banks are continuing with foreclosure proceedings in many areas, as the real estate markets remain depressed.

Florida courts overwhelmed by foreclosure filings

Recent statistics show that Florida has quite a logjam on its hands due to foreclosure filings. The count includes approximately 44,000 cases in Broward County alone, according to the Office of the State Courts Administrator.

Mortgage servicers required to offer more loan modifications

There has been a lot of talk about the $25 billion settlement the government reached with the nation's five largest mortgage servicers. Among the 49 states listed in the complaint was Florida, where residents have been hit especially hard by mortgage foreclosures. According to reports, Florida is expected to receive $8.4 billion from the settlement.

Proposed legislation spurs debate over non-judicial foreclosure

Florida homeowners have been hit particularly hard by the foreclosure crisis. Adding insult to injury in the eyes of some is a new bill some Floridian legislators are seeking to introduce that might allow for non-judicial foreclosures. Critics fear the law will help banks and hurt homeowners, but those sponsoring the bill argue that homeowners benefit from the law.

Governments and banks agree to $26 billion mortgage relief

In an effort to provide relief during the mortgage crisis that has affected so many Florida residents, state and federal officials arrived at an historic $26 billion settlement with five major mortgage servicers. Bank of America, Wells Fargo, JP Morgan Chase, Ally Financial and Citigroup have all signed on to provide $17 billion in mortgage relief to roughly one million borrowers throughout the nation. The federal government is set to handle $1 billion in relief, while $3 billion will be used to refinance loans for lower interest rates.

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