Can a Related Party Purchase my Property via Short Sale?
Short sales are transactions in which proceeds from the sale amount to less than the balance owed on the property. Though short sales can be a fiscally smart and a radically less agonizing option when facing foreclosure, it is not possible to have a related party purchase your property in a short sa ...
If I'm Not Paying my HOA or Condo Dues, Can the Association Take My Tenant's Rent in FL?
In 2010, the Florida legislature passed Statute §720.3085(8) enumerating powers for Florida Homeowner Associations (HOA) to bypass property owners in order to collect delinquent assessments fees directly from their tenants. The statute is designed to hold homeowners accountable for past due fees by ...
In the State of Florida, Can I Avoid a Potential Deficiency Judgment by Declaring Chapter 7 AFTER My Primary Residence Has Already Been Foreclosed?
A deficiency judgment is entered against a borrower when proceeds from a short sale, a deed in lieu of foreclosure sale or a foreclosure proceeding on their property are insufficient to pay the entire balance of the original unsecured debt. These judgments are enforced by the courts and how they can ...
What Precautions Can I Take to Avoid Scams?
Today’s housing market is in shambles and with homeowners upside down on their mortgage or in risk of foreclosure, the future is uncertain for many people. Unfortunately, there are always those who will take advantage of this situation and target desperate homeowners using foreclosure resolution sca ...
Can HOA Liens Survive Foreclosure?
When home is foreclosed in Florida, homeowners’ association (HOAs) liens can be passed on to the home’s new owner. If you buy a condominium or single family home at auction that is included in a mandatory HOA and has been foreclosed on, check to make sure the HOA dues are current. Depending on your ...
In the State of Florida, What is "Summary Judgment" Against a Tenant in a Property in Foreclosure?
The foreclosure process is a difficult one for all parties involved, the lender, the borrower, and the new owner. It’s easy to forget, or not even know, what all of your options are. The basic foreclosure process begins with a “Notice of Default.” The lender is then responsible for filing a “suit pe ...
In the State of Florida, What is the Process for a Bank to Evict Someone from a Property?
Owning property, particularly residential property, is a big undertaking. There are many people who have a knack for providing the best lifestyle possible for local residents; however, there are some parts of the job that are easier than others. For instance, there are times when certain residents j ...
In the State of Florida, How Long After the Foreclosure is Final Do I Have to Move from My House?
Every state has a process for homes in foreclosure. What a lot of people don’t tend think about is where will they live after the foreclosure is final. The foreclosure process consists of court hearings, bank meetings, and an auction to sell the property. The title is still in the owner’s name until ...
When Does the Foreclosure Show on Your Credit Report?
The housing market has finally started to turn itself around, there are fewer and fewer “for sale” signs and better mortgage rates than there were 8-10 years ago around this time. However, since the time has finally passed this means that the rough economic decisions you might have had to make might ...
Buying a Home After a Foreclosure vs. After a Short Sale
Although reports show that the economy is slowly climbing its way back up, there is still no shortage of homeowners facing foreclosure and short sale. This is a very troubling time, especially if you bought your home thinking that you would be able to refinance it, if you ever found yourself in a ...
