The basic idea of foreclosure is fairly simple. You agreed to make monthly payments when you got your mortgage loan. If you miss those payments, you breach the contract, and the lender takes the home back through foreclosure. They sell it to get what they can. But how...
Should you let your home go into foreclosure when you’re in debt?
When your mortgage is underwater and you owe more than your home is worth, one of the things you may think about doing is stopping your payments and allowing your home to go into foreclosure. This is one option, but it has significant consequences that you should...
What is an automatic stay?
When you struggle with debt, it can be difficult to escape the thought of that burden. Persistent collections attempts from creditors can make that even worse. You may find written demands in your mailbox or email inbox. The messages on your phone may be filled with...
A cautionary tale about an unpaid bill in Florida
A Florida man is facing foreclosure on his home over an unpaid homeowners association bill. The man, who is the father of a son in elementary school, and his wife bought their home in Beulah, Florida. They were young and starting out. He was still in school, and to...
Reinstatement may help homeowners stop foreclosure
Most “workouts” mean sweating more, but loan workouts often let homeowners work things out with lenders to keep their home and stop the foreclosure process. They can help people relax a little. Reinstatement is one of the more common workouts, along with other...
Many seniors wonder if bankruptcy will make them lose their homes
In the golden years of life, one hopes that laughter and calm fills the day-to-day existence. Unfortunately, for some, those calm moments are few and far between. Gray bankruptcy is an unfortunate reality, fueled by everything from a rising cost of living and stagnant...
Bankruptcy could provide shelter when you’re facing foreclosure
The thought of losing your house to foreclosure can be terrifying, but handing over your family’s home through bankruptcy doesn’t sound any better. But with the right bankruptcy filing, you could have the answers you need to set your fears aside. Bankruptcy is a...
Should I let my investment property go into foreclosure?
Maintaining an investment property in Florida can be an effective way to create an additional source of income. However, you may not have been able to predict changes in the market and growing costs to maintain your second or even third property. Despite doing your...
Grand jury indicts 11 in home foreclosure scheme
Buying a home is a mark of adulthood and accomplishment in Florida. People often spend years establishing their careers, getting financially secure and saving up money before making the move to homeownership. When these homeowners fall on hard times and are faced with...
Home foreclosure is on the decline, but some are still struggling
Owning a home is a foundational aspect of the American dream. However, that dream might be more attainable for some people in Florida than for others. While home foreclosure rates are down overall, some homeowners are still struggling with their mortgage payments. The...
