In the current Florida housing market, many people hear the term short sale or even look at these properties when trying to purchase a home, but they do not understand what a short sale is. A short sale occurs when someone owes more on his or her home than it is worth, which also known… Read more »
SOUTH FLORIDA SHORT SALE ATTORNEYS REAL ESTATE LAW Short Sales, where the mortgage company agrees to accept a “short” payoff of their mortgage (less to pay off the mortgage then what is owed) are experiencing a comeback. Perhaps it is the fact that second lenders are filing foreclosure actions at higher speeds, or the statute… Read more »
MIAMI DADE LOAN MODIFICATION AND FORECLOSURE ATTORNEYS The Federal Housing Finance Agency (FHFA) announced last week a new program to significantly reduce and forgive mortgage principal balance for delinquent Fannie Mae and Freddie Mac loans. The impact of the program is expected to assist underwater homeowners that are still struggling with mortgage payments, high interest rates,… Read more »
MORTGAGE FORGIVENESS RELIEF ACT OF 2012 RELIEVES DISTRESSED HOMEOWNERS IN SHORT SALES AND LOAN MODIFICATIONS FOR ONE MORE YEAR Finally, Congress came to its senses, and extended the debt forgiveness benefits for qualified homeowners. Through the passage of the American Taxpayer Relief Act of 2012, qualified distressed homeowners who have any debt forgiven as a result… Read more »
Miami Short Sale Attorney Fallen behind on your mortgage? Facing imminent default? At the Law Offices of Jacqueline Salcines, P.A., we are here to help. We are your team of Foreclosure defense and Short Sale attorneys here to defend the rights of homeowners facing foreclosure. As Miami short sale attorneys, we are experienced in every aspect of the short… Read more »
SOUTH FLORIDA REAL ESTATE LAWYER MORTGAGE LAW What happens to escrows, or monies held by the mortgage company for insurance and taxes after a closing when the property is sold? Mortgage escrows are funds paid by the borrower when making their monthly mortgage payment, for the payment of insurance and taxes on the yearly anniversary dates. … Read more »
You’ve all heard the story before, months and months of laboring to get the short sale approval, you finally get it and the second lien holder or mortgage company will not accept what the first lien holder is agreeing to pay them. Result: Now your short sale is held hostage. The first will not pay… Read more »
Many homeowners today are very confused, awaiting the approval of a loan modification or short sale, only to receive notice from their lender that the loan servicer or the servicing of their loans is now going to be handled by another bank or lender. The change in servicing or notice of servicer change is becoming… Read more »
FLORIDA FORECLOSURE ATTORNEYS The slow down of short sales has left many borrowers facing collection and suits for deficiencies that were not wiped out or waived in a short sale. In a short sale, the bank agrees to accept less than the amount required to pay off your mortgage. In the majority of the short… Read more »
