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August 2017 Archives

Fighting to keep your house against threats of foreclosure

Debt is a burden that many Americans carry, and it can be difficult to manage outstanding balances for an extended period of time. Whether it is credit card debt or other types of debt, getting behind on payments can result in a vicious cycle of accumulating interest and more money owed. If you are experiencing this with your mortgage and are dealing with threats from creditors because of your past-due payments, you may be wondering how you will keep your house and deal with your debt at the same time.

The increasing problem with credit card debt in the U.S.

Most Americans have credit card debt, and most people with credit cards do not pay the balance off in full each month. For many Florida  consumers, this balance accumulates quickly, leaving them with more credit card debt than they can effectively manage. In fact, the rate of card holders who are delinquent on their balances is increasing rapidly.

Finance company sued for alleged illegal home foreclosure

Many Florida residents and others around the country dream of home ownership. However, sometimes the mortgage payments for a home can put a drain on a family's finances. In dire circumstances, banks may choose to foreclose on a home if a homeowner cannot regularly make mortgage payments. A woman in another state has claimed that a finance company conducted an illegal home foreclosure on her residence.

Tips for paying off credit card debt

Many Florida residents and others around the nation have a variety of credit cards at their disposal. Unfortunately, if not managed correctly, consumers may end up with a significant amount of credit card debt. Experts recommend several tips for managing credit card debt and improving credit scores.

Overall home foreclosure levels improving

It is generally exciting for the state of Florida to be ranked number one in the nation in most scenarios. However, recent reports show Florida to have more home foreclosure sales than any other state in the country. While this particular benchmark was not positive for the state, there are many indicators nationwide that reflect much lower overall foreclosure levels.

Focus on paying off credit card debt

Many Florida residents and others around the country frequently use credit cards as part of their family's financial plan. When used appropriately, they can be useful tools. However, carrying balances on the cards can lead to serious situations. When credit card debt grows, consumers may be caught in a never-ending cycle of mounting debt and interest payments. To break the cycle, financial experts offer several recommendations.

Credit card debt: Use credit cards the right way

Millions of Florida residents and others across the country have at least one credit card. While some may struggle with excessive credit card debt, many utilize their cards effectively as part of their household budgeting process. However, experts cite several mistakes routinely made by cardholders that should be avoided to maximize the potential benefits of credit cards.

Home foreclosure rate still high with distressed mortgages

Residents in Florida and others around the nation have witnessed much improvement in various indicators over the past decade since the housing crisis.  For example, the home foreclosure rate for the total housing market decreased 22 percent in the second quarter. However, a particular niche of the market is still experiencing distress. Foreclosures of severely delinquent mortgages purchased by investment companies are increasing.

Paul Urich
Orlando Office

Law Office of Paul L. Urich, P.A.
1510 East Colonial Drive
Suite 204
Orlando, FL 32803
Phone: 407-896-3077
Fax: 407-896-3041

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