Category Archives: General
Mortgage delinquencies dropping in the U.S.
Many individuals here in Florida have a fair amount of mortgage debt. When a person with high mortgage debt encounters an unexpected financial difficulty, it could put them at risk of coming off the rails when it comes to staying current with their mortgage payments. When a person falls behind on their mortgage payments,… Read More »
Many foreclosure victims not likely to own homes again soon
Facing a foreclosure not only can lead to a person having their home taken from them, it can also have some other serious long-term financial impacts for a person. For example, having gone through a foreclosure (or a similar finance-related loss of a home) sometimes keeps a person from being able to be a… Read More »
Underwater mortgage levels falling in Miami-Dade, though still high
Miami-Dade County is experiencing a drop in underwater mortgages, according to a recent report on underwater mortgage levels in 2014’s final quarter. According to the report, there were over 30,000 fewer homes in the county where the property’s value was less than the mortgage balance for the property in last year’s fourth quarter than… Read More »
Real-estate-related debt troubles not limited to just mortgages
Troubles with real-estate-related debts can lead to a person facing some major financial troubles, including the possibility of foreclosure. Thus, a person can have some pretty big concerns when they are experiencing struggles with a real-estate-related debt. Will I lose my home? Will I have to leave my community? Will I be ruined financially?… Read More »
Drawbacks of short sales
One of the mortgage-debt-related difficulties some homeowners face is having negative equity. A homeowner has negative equity if their home is worth less than the mortgage debt they have on the home. According to RealtyTrac estimates, having mortgage debt that exceeds their home’s value by at least 25 percent is a situation that around… Read More »
What does an automatic stay do in a bankruptcy?
There are several reasons why a person who is struggling with high debt could find a personal bankruptcy helpful. For one, a bankruptcy sometimes significantly reduces a person’s overall debt load through debt discharges. Also, a bankruptcy sometimes give an individual a chance to restructure their debt so it is easier for them to… Read More »
“Bogus” credit repair business closed and fined $6.4 million
A Florida federal district court has found a “credit repair” operation in contempt after it continued to operate in spite of a court order that required it to stop promoting its “bogus credit repair products and services” The Federal Trade Commission (FTC) charged them with a continuing violation of the court order. The defendants… Read More »
Florida bankruptcy case filings may increase again
The mortgage crisis of 2008 and the recession and flood of defaults and foreclosures that resulted have left a great deal of wreckage across the landscape in Florida. And nowhere is that damage more obvious than in bankruptcy court. That economic crisis triggered by the real estate bubble has left a backlog of cases… Read More »