Recent Posts in Underwater Category
Posted on Jul 12, 2011 By Florida Foreclosure Defense Attorney
Source: CNN Money Housing prices are likely to keep falling the rest of this year, and probably won't show much improvement next year either, according to a survey of economists. A CNN Money ...
Continue reading "Housing prices: No rebound in sight" »
Posted on Jul 11, 2011 By Florida Foreclosure Defense Attorney
The $8 billion program launched by the Federal Housing Administration in September to help underwater borrowers refinance into a new mortgage continues to sputter. The FHA Short Refi program was ...
Continue reading "FHA program to help underwater borrowers well-intentioned but predictably doomed" »
Posted on Jun 11, 2011 By Florida Foreclosure Defense Attorney
It's really not hard to answer and none of this should come as a surprise. Many of these second mortgages or home equity loans were used as piggybacks to avoid paying mortgage insurance and to ...
Continue reading "Why are Borrowers with Second Mortgages more likely to be underwater?" »
Posted on Jun 9, 2011 By Deborah A. Carman, Esq.
The new report released by CoreLogic shows that nearly half of the mortgages in Palm Beach County are underwater, which means that the home is worth less than what is owed on the mortgage or inching ...
Continue reading "Nearly Half of the Mortgages in Palm Beach County Are Underwater!" »
Posted on Jun 2, 2011 By Florida Foreclosure Defense Attorney
Our client had purchased a condominium in Jupiter for her elderly mother making it an investment property. The condominium had been purchased in the height of the market and secured by a mortgage in ...
Continue reading "Is There a Way Out for Florida’s Underwater Real Estate investors?" »
Posted on Jun 1, 2011 By Deborah A. Carman, Esq.
Realizing that the likelihood of ever regaining the equity lost in his Lake Worth home was not good, our client focused on a Strategic Default and sought the advice of several well-known Florida ...
Continue reading "Most believe that there is no way out for Florida’s underwater homeowners, but this is not the case!" »
Posted on May 10, 2011 By Admin
Home values in the United States fell faster in the first quarter of 2011 than they have in any quarter since 2008, when the housing market experienced its worst performance, according to a new report ...
Continue reading "More Homes Underwater as Values Post Sharpest Drop Since 2008" »
Posted on May 2, 2011 By Deborah A. Carman, Esq.
I have noticed over the past several weeks that suddenly everyone believes they can sit back and wait for the Attorney General's throughout this country to save their homes. Homeowners that have been ...
Continue reading "It's Time for a Reality Check" »
Posted on Mar 20, 2011 By Deborah A. Carman, Esq
He owns a successful company and she has a sales job taking home a six-figure salary, yet they are in foreclosure. But unlike countless other Americans faced with losing their homes, this couple could ...
Continue reading "Underwater – Is Strategic Default the only way out!" »
Posted on Jan 23, 2011 By Deborah A. Carman, Esq.
If you're pouring all of your disposable income ( the amount of income left to an individual after taxes have been paid, available for spending and saving ) into your mortgage secured by a home that's ...
Continue reading "Is it ‘YOUR’ time to Bailout?" »
Posted on Jan 14, 2011 By Deborah A. Carman, Esq.
As busy as I may be I couldn't help myself, there could not have been better timing. No more than I published ' So, who would have you believe that Florida's Housing Prices WILL come back ?' I come ...
Continue reading "PART TWO: So, who would have you believe that Florida’s Housing Prices WILL come back? " »
Posted on Jan 14, 2011 By Deborah A. Carman, Esq.
That's easy… those that stand to profit… The U.S. housing crash has topped Great Depression levels, Florida's home prices continue a downward spiral, Florida is faced with the highest unemployment ...
Continue reading "So, who would have you believe that Florida’s Housing Prices WILL come back?" »
Posted on Jan 13, 2011 By Deborah A. Carman, Esq.
Look, I certainly don't want to be Ms. Doom and Gloom, but the reality is that the Florida housing market IS NOT coming back, not in our lifetime anyway. Most didn't want to hear it, especially when ...
Continue reading "Florida's Housing Prices ARE NOT Coming Back!" »
Posted on Jan 1, 2011 By Deborah A. Carman, Esq.
After more than four years of plunging home values hundreds of thousands of Florida homeowners will begin another New Year owing more on their mortgages then their homes are worth. For those of you ...
Continue reading "Foreclosure Crisis will continue through 2011" »
Posted on Dec 29, 2010 By Deborah A. Carman, Esq.
Of course you should. Why would anyone even ask such a question? We are faced with the worst housing market collapse since the Great Depression, 6.92 million U.S. properties are delinquent or in ...
Continue reading "If I’m at risk of losing my home, should I hire an attorney?" »
Posted on Dec 22, 2010 By Admin
Hire a debt relief and foreclosure defense attorney … The ongoing banking crisis is a perfect opportunity to literally engage the bank in a sort of a hand to hand combat. I'm pretty sure we all have ...
Continue reading "It’s a New Year, I’m Underwater, No Modification, now what do I do?" »
Posted on Nov 29, 2010 By Admin
Strategic default is a process by which homeowners that can afford to continue making their monthly mortgage payments, make a calculated financial decision to default on their mortgage in order to ...
Continue reading "Strategic Default is increasing for those who have no choice. " »
Posted on Nov 27, 2010 By Admin
If it's not bad enough to lose your home to foreclosure, you may still be liable for the deficiency amount. That's the difference of what's owed on your mortgage loan and what the bank could sell for ...
Continue reading "UNDERWATER? You can get out without a deficiency judgment." »
Posted on Nov 16, 2010 By Admin
One of the under-reported stories of Foreclosure-Gate is the ability of homeowners facing foreclosure to retain a foreclosure defense attorney , live in their homes without paying their mortgage, and ...
Continue reading "Living for Free" »
Posted on Nov 11, 2010 By Admin
Nevada, Arizona and California now trail Florida on the foreclosure list. According to a survey released Thursday, by the Washington-based Mortgage Bankers Association, Florida ranks top nationally ...
Continue reading "Florida leads U.S. in foreclosures" »
Posted on Nov 11, 2010 By Admin
According to figures released Wednesday by the real estate data provider Zillow nearly one-quarter, or 23.2 percent of U.S. homeowners with a mortgage were underwater meaning they owe more on the home ...
Continue reading "More Homeowners Underwater " »
Posted on Nov 2, 2010 By Admin
For more than two years, home foreclosures have swept Florida, spreading misery among families, as lenders continue to undermine the efforts to restart the economy. The bigger problem may turn out to ...
Continue reading "ONE MORE TIME... Strategic Default, simply makes financial sense" »