What Is Your Home Really Worth?
The value of your home can change day to day, week to week, and certainly month to month. If we learn from our past, we know that home prices can rise and drop very quickly. So, if you are thinking of selling your home today, you need to know the actual value of your home so you don’t price it too high or too low. Your realtor is the person to speak with on this subject; they have access to all the information necessary to make an informed decision on pricing. Read the rest of this entry
Are You Thinking About Buying a Foreclosure?
Purchasing properties in foreclosure can be very tricky business, and it requires total commitment to the details; otherwise a great idea can turn out to be a great disaster. Not only are you purchasing the property “AS IS”, which causes many other problems; you will also need to know about the HOA/COA outstanding dues, the property taxes and other liens on the property, if any. Likewise, you will want to check out the location of the home and see if there are any future city projects planned which will require a substantial contribution from each homeowner in the area. (Remember Cape Coral’s Water Project). Read the rest of this entry
Are You Thinking About a Reverse Mortgage?
A reverse mortgage allows a homeowner to tap into their equity to supplement their income for whatever reason that the homeowner desires. I have mixed emotions on this issue. While I am not an expert on those mortgages, I do know enough to say that I am not extremely comfortable with them. My first concern is that there is no one-size fits all situations that each family falls in to. Accordingly, before this type of mortgage is entered in to, I would suggest a heart to heart discussion with your spouse and any descendents which may be affected by this decision. Read the rest of this entry
Florida’s New Foreclosure Law!
On July 1, 2013, Florida’s New Foreclosure Law went into effect. The new law is supposed to provide a streamlined process for foreclosure cases. There will be less hearings (supposedly), and foreclosures that have been hanging around for years will be whipped through the system. Read the rest of this entry
Can I Modify My Mortgage in Bankruptcy? Yes!
The Home Affordable Modification Program (HAMP), also known as the Making Home Affordable Program, is being used in the bankruptcy courts in SW Florida. The HAMP program was established by the government to help struggling homeowners save their homes. You may or may not be eligible for a HAMP modification; however, you will never know unless you try. Read the rest of this entry