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Posts tagged "Home Foreclosure"

Recent hurricanes cause of home foreclosure increases

Over the past several weeks, two major hurricanes caused catastrophic damage to areas in the country. Hurricane Harvey affected many areas in other states, while Hurricane Irma wreaked havoc to several Florida communities. Given these disasters, the level of non-current mortgages and home foreclosure numbers rose significantly for the month of September.

Man sentenced to 8 years in prison for home foreclosure scam

Homeowners in Florida and in other states around the nation sometimes find themselves in financial difficulty. One of the largest expenses for most families is a mortgage payment. However, it is critical that this payment be made in order to stay in a home and avoid home foreclosure. Recently, a man was sentenced to prison after he made false promises to homeowners in a loan modification scam.

Short sales help those who are behind on house payments

Florida residents who frequent any of the many beaches may know what it is like when the tide is high and the waves are rough. Swimmers -- or even waders -- may feel as if they have complete control, and then a wave bowls over them. That feeling of being unable to breathe and at the mercy of the current is where financial experts get the term "underwater." Homeowners may feel this way if they owe more on their house than it is worth, particularly if they are behind on house payments.

Home foreclosure filings for August highest in 10 years

There have been several favorable indicators in the mortgage industry over the past several months following the crisis almost a decade ago. However, one metric moved in a negative direction, and industry leaders are watching carefully. The month-to-month increase of home foreclosure filings for Florida and elsewhere around the country more than doubled from the 10-year seasonal average.

Home foreclosure level lowest in over a decade

The mortgage crisis that began nearly a decade ago affected many Florida residents and others throughout the country. Many families were concerned that they could not keep mortgage payments current and feared they would lose their homes. However, improvements in the economy have also been reflected in the latest mortgage industry statistics. A recent report from a national financial services organization indicates that the home foreclosure numbers are at the lowest point in more than 10 years.

Understanding short sales, pre-foreclosure and home foreclosure

Many Florida residents and others around the country have experienced financial difficulties, particularly stemming from the housing crisis about a decade ago. Families were faced with the possibility of losing their homes. While the economy has improved and the crisis has passed, there are often homes in many markets nationwide that are available through a short sale, pre-foreclosure or home foreclosure.

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.

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.

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.

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
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