Foreclosure Help | Cooper City Florida

$25 billion in Foreclosure Payouts seems like it will really help homeowners, but will it ?
750,000 people who have already lost their homes  will get the magnificent sum of $1800 to  $2,000 each.  Too little, too late is a huge understatement.
A principal reduction of around $20,000 is expected to go to another one million homeowners who are underwater.   How many homeowners in south Florida are only underwater by such a small amount?
If you are  facing foreclosure will that help you?   A very small percentage of homeowners is going …

Following the example of Chase Bank, Bank of America, the nation’s largest mortgage servicer, is offering Florida homeowners up to $20,000 to short sale their homes in an effort to get them off their books.
This offer from bank of America was emailed to select Florida Realtors earlier this week outlining basic details of the plan.
There are some strict conditions, however, regarding eligibility and investor participation.  The  short sales must be submitted for approval to Bank of America before Nov. 30 to qualify. The homes must have no offers on them …

Reuters
7:10 p.m. EDT, September 8, 2011
WASHINGTON (Reuters) – The White House is seeking
to broaden U.S. homeowners’ access to mortgage refinancing in a
plan aimed at reducing home foreclosures and help the ailing
housing market.
President Barack Obama was poised to mention the effort in
his speech to Congress Thursday unveiling a $447 billion
jobs package, senior U.S. officials told reporters.
“We’re trying to do every single thing we can on housing,”
one U.S. official said, adding the administration was “working
around the clock” on the refinancing initiative.
“We’re hopeful that over the next … several weeks that we
will have …

Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December Sign In | FREE TRIAL | Subscribe | Help Home My RealtyTrac Stats & Trends Learning Center Services Community …

Overall  Activity Down 33 Percent From May 2010 to 42-Month LowREOs Increase  in New York and Georgia, Auctions in Maryland and IllinoisIRVINE, Calif. – June 16, 2011 — RealtyTrac® (realtytrac.com),  the leading online marketplace for foreclosure properties, today released its  U.S. Foreclosure Market Report™ for May 2011, which shows foreclosure filings —  default notices, scheduled auctions and bank  repossessions — were reported on 214,927 U.S. properties in May, a 2  percent decrease from April and a 33 percent decrease from May 2010. The report  also shows one in every …

Pre-Foreclosure Sales (Short Sales) Jump 19 Percent From Q1, REO Sales FlatAverage Time to Sell Pre-Foreclosures Down, Average Time to Sell REOs IncreasesIRVINE, Calif. – Aug. 25, 2011 — RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure homes, today released its Q2 2011 U.S. Foreclosure Sales Report™, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 31 percent of all U.S. residential sales in the second quarter of 2011, down from nearly 36 percent of all sales in the first …

Overall Activity Down 4 Percent Month-over-Month, 35 Percent From July 2010 REOs Up More Than 20 Percent in New York, Massachusetts, Georgia, Virginia, and IllinoisIRVINE, Calif. – Aug. 11, 2011 — RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ forJuly 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 212,764 U.S. properties in July, a 4 percent decrease from June and a 35 percent decrease from July 2010. The report also shows one …

1.17 Million  Homes Receive Foreclosure Notice During First Six Months of the Year    Second  Quarter Numbers Lowest Since Fourth Quarter of 2007IRVINE, Calif. – July 14,  2011 – RealtyTrac® (realtytrac.com),  the leading online marketplace for foreclosure properties, today released its  Midyear 2011 Foreclosure Market Report, which shows a total of 1,170,402 U.S.  properties received foreclosure filings — default notices, auction sale notices  and bank  repossessions — in the first six months of 2011, a 25 percent decrease from  the previous six months and a 29 percent decrease from the …

Paperwork Problems in Judicial Foreclosure States Continue to Cause Delays;California, Arizona, Nevada Cities Dominate Top 20 Metro Foreclosure RatesIRVINE, Calif. – July 28, 2011 – RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its Midyear 2011 Metropolitan Foreclosure Market Report, which shows that foreclosure activity decreased on a year-over-year basis in 178 out of the nation’s 211 metropolitan areas with a population of 200,000 or more. The report also shows that all top 10 metro areas with the highest foreclosure rates in the first half of …

With house prices going nowhere in 2011, many expect strategic defaults to continue or increase.
House prices in south Florida are at 2003 levels which leaves a huge percentage of homeowners underwater (owing more than their house is worth).
Last week The Wall Street Journal reported on a family in Sacramento who bought their house for $256,000 and now a similar home on the same block is going for $80,000.  Their interest only loan is set to increase from $1600 a month to $2200.  Little wonder they are planning a strategic default.
They …