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
Communication is the Key to Success
It is my firm belief that if people spent another two or three minutes in each and every conversation making sure they fully understood the other persons, needs, wants and desires, the stress in the world would be decreased by half. Your relationship with your Realtor or Attorney or Hair Stylist for that matter is extremely important and communication is critical. Otherwise, you may receive a result which you didn’t plan for. Imagine going to your hairstylist and asking for “something different”? You would never do that. Likewise, you would never ask your Realtor to find me any house? You want a home that meets your needs? You want to sell your home for the best price, so you need to rely on their professional advice. Read the rest of this entry
Negotiating the Short Sale – Part II
In the first part of this series, we discussed the preliminary considerations prior to entering into a short sale negotiation. Next, I want you to consider the other side. Who are you dealing with? Well, you are not dealing with a mortgage company; you will be dealing with a representative of the mortgage company who will have two agendas. First they will have the mortgage company’s agenda to follow. We all know what that is, to make sure the file is complete with all the relevant information. Read the rest of this entry