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Hurricanes could bring another disaster: Foreclosures

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As life slowly returns to normal in hurricane-ravaged parts of Texas, Florida and Puerto Rico, housing experts and consumer advocates worry another crisis is on the horizon: Foreclosures. by Lydia DePillis   @CNNMoney Already, legal aid groups are working with people who are struggling to make mortgage payments on homes made uninhabitable by the storms, while paying rent […]

 

Mortgage relief available for homeowners hit hard by Hurricane Irma

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South Florida homeowners may be able to redirect mortgage payments to cover major repairs in the wake of Hurricane Irma. Borrowers who need help fixing their homes should contact their lenders to request forbearances from payments for up to 12 months, according to the Federal Housing Finance Agency. At the end of the forbearance period, […]

 

Hurricane Irma spared real estate market big damage, caused minor construction, closing delays

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Hurricane Irma’s effect on South Florida’s vibrant real estate market is not likely to be much more than the hassles of delayed home deliveries and closings, industry observers say. Twelve years ago, Hurricane Wilma swept across Broward, Palm Beach and Miami-Dade counties, causing major damage to roofs. Blue tarps became a common sight in many […]

 

Home Foreclosures Spike In October

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ATTOM Data Solutions’ Daren Blomquist notes that most of the foreclosure activity increases in states including Colorado and Georgia are more heavily tied to loans originated since 2009. IRVINE, CA—Single-family home foreclosures made a surprising 27% monthly jump in October, ATTOM Data Solutions said Thursday. The firm’s report for the month shows shows a total […]

 

Could Zika pose a problem for Florida’s tourism industry?

John Couwels/CNN

Disease has arrived in state visited by 106 million last year NEW YORK (CNNMoney) —Florida has detected its first cases of locally transmitted Zika, which could pose a threat to the state’s sensitive — and important — tourist industry. “We learned today that four people in our state likely have the Zika virus as a […]

 

Foreclosures fall in first quarter as housing rebound continues

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New foreclosure cases declined in South Florida during the first quarter, an indication that the tri-county region has “definitely, firmly” rebounded from the worst of the housing crisis, a new report shows. From January through March, 2,882 new cases were filed in Palm Beach, Broward and Miami-Dade counties, down 24 percent from a year earlier, […]

 

Increase in Subprime Auto Loan Defaults Is Harbinger of Bad Future

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Commentary by Charles M. Tatelbaum, Daily Business Review Dusty Holoubek March 15, 2016 In what is a very troubling sign for the nation’s economy, the default rate for subprime auto loans increased to 12.3 percent in January. This is a full percentage point increase over the prior month and an even greater increase over the […]

 

Rebound and Boomerang Buyers

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Rebound Buyers also known as Boomerang Buyers are now becoming a very popular target market for mortgage lenders and mortgage brokers.  Rebound and Boomerang buyers are people who lost a home to foreclosure or sold an underwater property in a short sale, but who now may be ready to buy again. Part of the attractiveness of […]

 

A Slack Lifeline for Drowning Homeowners

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By  GRETCHEN MORGENSON New York Time, After Lucy Circe became disabled and could no longer work, she applied to Bank of America for a mortgage loan modification on her Vermont home. Over more than two years, starting in 2012, the bank repeatedly requested copies of documents that had already been provided, asked for proof that she was no longer […]

 

Bad News for Property Owners?

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South Florida Courts Slash Through Foreclosure Backlog.   When it comes to foreclosure lawsuits, good news for the judiciary could spell havoc for property owners. In the wake of the 2008 housing crash that left South Florida one of the hardest hit regions in the country, courts soon realized how unprepared they were for the […]