Orlando’s real estate homes sales are beginning their climb the median sales price continues to move downward. This results in Orlando home owners being trapped in homes they can’t sell. But in Orlando short sales are saving the day for distressed homeowners, as they are in other parts of the country. For people upside down [Continue]
Lenders show sudden willingness to modify loans and avoid expensive legal action on the growing number of mortgage-default cases. Half of the foreclosures headed for court hearings in Orange County during March and April were canceled. Thousands of local homeowners in default on their mortgages now appear to be hanging on to their homes, according [Continue]
Bank of America has announced it is loosening its policies on short sales in response to the U.S. Treasury Department’s announcement last week that it would increase incentives for lenders to work out short sale deals. This is excellent news for many home owners in need of assistance from one of the largest mortgage lenders. [Continue]
A foreclosure means the owner of a property cannot pay the mortgage and is forced to give up the property to pay back what is owed. Investors and buyers, if you’re looking for real-estate bargains, buying foreclosed property is one of the best ways to get an excellent deal. One of the best ways to find [Continue]
Would be short sale sellers have been left with no choice but foreclosure because of slow response and extensive delays in the short-sale process. But the picture is improving. This week the U.S. Treasury announced that it would be providing incentives for borrowers and mortgage services to pursue short sales and other foreclosure alternatives. [Continue]
March activity showed a record level of foreclosures hitting the market. Third quarter filings are at 46percent higher than the same period last year. This surge has a known cause though. Lenders have lifted the temporary moratoriums and resumed legal actions against delinquent mortgage holders. Default notices, auction sale notices and bank [Continue]
Orlando homeowners who were hoping to find help from the Federal Government’s Homeowner Affordability and Stability Plan may be disappointed. As reported in the Wall Street Journal on March 5, the devil is in the details. There will be incentives and subsidies to encourage loan servicing companies to ease the pressure on borrowers by [Continue]
A report by journalist John Couwels for CNN says Disney World has announced a major loss of income and is planning to layoff employees, maybe as early as this week. Even the Magic Kingdom can’t avoid the reality of the country’s economic slump and this year could be even worse. Officials expect tourism to [Continue]
If you’re an Orlando homeowner teetering on the edge of financial collapse, President Obama’s foreclosure relief program may not arrive in time to save your home. You may think foreclosure is an option but do you know what to expect? An article by David Colker of the Los Angeles Times offers some insight. You could continue [Continue]
On Wednesday, February 18th, President Obama announced his 75-billion-dollar foreclosure relief plan during a visit to Mesa, Arizona. Major components of the plan include allowing Fannie Mae and Freddie Mac to provide refinancing at more than 80% loan-to-value and at reduced interest rates, offer incentives to lenders so they will work with [Continue]
