Florida does not have non-judicial foreclosure. It does not have anti-deficiency laws.
This article says that the foreclosure process takes about 5 months. (please seek a lawyer's advice, do not rely on this because you situation may be different.)
The foreclosure begins when a lender files suit and records a lis Pendens.
Florida Foreclosure Laws
Saturday, June 9, 2007
Mortgages, foreclosures and deficiency judgments
Nice rundown of foreclosure results in California. The question comes up all the time --- can banks in California go after the borrower for a deficiency judgment.
According to the attorney who wrote this article. (and he is right because of rule 580) Not on a purchase money loan.
California protects home owners from deficiency against the holders of the purchase money mortgage. (the first mortgage that was used to buy the house.) If you refinance you lose that protection.
to read more:
Mortgages, foreclosures and deficiency judgments
Florida has no such protections against deficiency judgments.
According to the attorney who wrote this article. (and he is right because of rule 580) Not on a purchase money loan.
California protects home owners from deficiency against the holders of the purchase money mortgage. (the first mortgage that was used to buy the house.) If you refinance you lose that protection.
to read more:
Mortgages, foreclosures and deficiency judgments
Florida has no such protections against deficiency judgments.
Thursday, June 7, 2007
Legislature leaders issue framework for property tax cuts: South Florida Sun-Sentinel
Legislature leaders issue framework for property tax cuts: South Florida Sun-Sentinel
After reading this politician speak, I would say that my hopes for a strong tax cut are being negotiated away.
After reading this politician speak, I would say that my hopes for a strong tax cut are being negotiated away.
Bradenton Sarasota home sales surge
http://www.bradenton.com/280/story/49529.html
This article is form may 16 2007. The Bradenton Sarasota market was the only market in florida to have an increase in sales in q4. (up 6%).
Many in the real estate industry are thinking some of the buying going on locally is from people anticipating significant property tax cuts.
This article is form may 16 2007. The Bradenton Sarasota market was the only market in florida to have an increase in sales in q4. (up 6%).
Many in the real estate industry are thinking some of the buying going on locally is from people anticipating significant property tax cuts.
SignOnSanDiego.com > News > Business > Dean Calbreath -- On many mortgages, reckoning day coming
this is interesting stuff. two years ago 83% of the buyers in San Diego used adjustable rate mortgages as purchase money and 63% used arms to refinance.
And apparently the two year lock in are about to expire this month and for every month going forward.
Caveat - We have been hearing this cry for years. Will the bears be right this time? Prices of the median san diego home were down 3% from a year earlier. Where is all the pain the blog guys and housing bears are predicting.
I know there plenty of people looking to buy a 20-30% break in prices. Perhaps there is just too strong a bid under this market.
In my opinion as long the the banks are wiling to lend to lend out there the pain will not be widespread. (but I could be wrong, please do not selling puts on housing futures).
SignOnSanDiego.com > News > Business > Dean Calbreath -- On many mortgages, reckoning day coming
And apparently the two year lock in are about to expire this month and for every month going forward.
Caveat - We have been hearing this cry for years. Will the bears be right this time? Prices of the median san diego home were down 3% from a year earlier. Where is all the pain the blog guys and housing bears are predicting.
I know there plenty of people looking to buy a 20-30% break in prices. Perhaps there is just too strong a bid under this market.
In my opinion as long the the banks are wiling to lend to lend out there the pain will not be widespread. (but I could be wrong, please do not selling puts on housing futures).
SignOnSanDiego.com > News > Business > Dean Calbreath -- On many mortgages, reckoning day coming
Foreclosure's Filthy Aftermath - BusinessWeek Online - MSNBC.com
Not really worth reading this article unless you want to see why banks know they do not want the houses back.
foreclosure up - pride in homeownership is down.
Foreclosure's Filthy Aftermath - BusinessWeek Online - MSNBC.com
foreclosure up - pride in homeownership is down.
Foreclosure's Filthy Aftermath - BusinessWeek Online - MSNBC.com
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