Blog Archives

Are You Thinking About Buying a Foreclosure?

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?

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!

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!

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

Negotiating the Short Sale – Part II

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