The court system is making significant progress in tacking Florida’s backlog of mortgage foreclosure cases. In recent meetings, the circuit met with banking representatives to initiate a new banking servicing rule that took effect January 10, 2014. The Consumer Financial Protection Bureau explains that under this rule, “the lender or mortgage loan servicer can not… Read more »
2014 is the YEAR OF THE SELLER in Miami-Dade and Broward counties. There are more buyers then inventory of properties on the market. A sellers market therefore makes hiring the services of an experienced team of realtor and real estate attorney/title agent more crucial then ever. Buyers and investors want to get properties at the discounted prices they… Read more »
CHANGE IN MORTGAGE RULES AND FHA OPENS THE DOOR TO EASIER FINANCING FOR CONDOMINIUM PURCHASES In the past, many condominium sales fell through when the buyer required financing through FHA because lenders were not permitted to give loans on buildings that were not FHA approved. Approval under FHA was strict, required certain budgetary measures, and… Read more »
YOUR COMMERCIAL REAL ESTATE LAWYER At the Jacqueline A. Salcines, P.A., our commercial real estate lawyers possess decades of combined experience in negotiating, structuring, and implementing all facets of real property developments, acquisitions and dispositions. With our offices based in Miami, our law firm represents real estate investors, property owners, corporate entities, foreign investors, private lenders, and… Read more »
The new wave taking over the courthouse these days, is lenders filing suits against the prior homeowner/borrower for the deficiency of the mortgage judgment, after the foreclosure auction or short sale. A deficiency balance is the short fall, or balance that is left due and owing, after a property either sells on the foreclosure auction… Read more »
SURPLUS FUNDS COLLECTION MIAMI DADE FORECLOSURE ATTORNEYS Many homeowners who lost their homes in foreclosure may not know they are entitled to any surplus funds after the foreclosure sale. If your property sold in foreclosure, and the winning bidder paid more than the amount of the judgment, the result is a surplus of funds. The homeowner, pursuant to… Read more »
Great news for foreign investors. The City of Miami has received approval for designation as an EB-5 Regional Center for Foreign Investment under the U.S. Citizen and Immigration Services immigrant investment visa program. This newly designated center is one of the few government owned and managed regional centers in the United States. It will translate… Read more »
Recent changes in the handling of FHA loans under the Making Homes Affordable Program under the Home Affordable Modification Program, has now made it significantly easier for underwater homeowners with FHA loans to qualify. Many obstacles and requirements were removed, making those with FHA loans that were previously turned down or ineligible to now qualify. These key changes have paved… Read more »
The practice of lenders charging more for products or excluding minorities within certain geographic areas has caught the interest of Officials for both the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ). Stern warnings have been issued to lenders who show signs of practicing in such prohibited acts damaging borrowers ability to obtain mortgage loans…. Read more »
