Florida Home Loans News

Analysis: Lenders Aggressively Going after Money Lost in Foreclosures

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The lender would much rather see you sell the property than be forced to take the property through foreclosure, as foreclosure is a costly and time-consuming process. contact your mortgage lender to discuss what it can do to assist you in selling through a short sale, and what are its procedures and requirements.

Foreclosure usually ends with the sale of the property at an auction. The highest bidder is the new owner of the property, but if no one shows up or bids high enough, the foreclosing bank becomes.

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"The debt collectors tend to be much more aggressive than the lenders had been," the National Consumer Law Center’s Walsh said. A big reason for the new surge in deficiency claims, attorneys say, is that states like Florida have recently enacted laws limiting the time financial institutions have to sue for the debt after a foreclosure.

A decade after the financial crisis. crashed as homeowners with subprime and other troublesome loans defaulted at record levels. Home prices dropped, and millions lost their homes to foreclosure.

Home equity stays the property of a homeowner even in the event of a mortgage default and foreclosure on the home. But the foreclosure process can eat away at the equity. The following five points explain what home equity is, what happens to it during foreclosure and options to protect.

FRB Issues Interim Final Rule to Replace HVCC Ninety days after the signing of the Dodd-Frank Act, in July 2010, was the sunset of the Home Valuation Code of Conduct. But the requirements of the Dodd-Frank (as shown in the Federal Reserve’s Interim Final Rule) and the 2010 Interagency Appraisal and Evaluation Guidelines clearly reinforced all aspects of the former HVCC.New York fund manager pleads guilty to Belize airport scam – Global Rubber Markets NEW YORK (Reuters) – A New york investment manager pleaded guilty on Wednesday to running a $21.9 million fraud in which he falsely told dozens of investors their money was being used to build an international airport in Belize, the U.S. Department of Justice said.

There is no easy or straightforward way to go through a foreclosure process. The prospect of losing your home in the quaint Warminster, PA community you love can be scary and frustrating. Pennsylvania residents face a harsh reality since there is no right to redeem or recover the property after the property is sold in a foreclosure sale.