| |
foreclosure: Fannie Mae Takes Aim at Strategic Default - 07/06/10 10:00 PM
The majority of mortgage holders in American can and do pay their note each month. As foreclosures have increased among those who unable to pay, a new class of people who can pay but choose not to, is also increasing in Orlando and everywhere. These strategic defaulters justify abandoning their mortgage because their housing values have shrunk. With no housing inflation in sight, they see default as the best business choice. Knowing that they will take a credit score hit, they may plan for their new life and just stop paying. Some people think this amoral, while banks discourage it. Up … (3 comments)
|
foreclosure: Mortgage Scam Hits the Howey Estate - 05/11/10 06:31 PM
Currently, Florida is the top state for mortgage fraud and has triple "the expected amount of reported mortgage fraud and misrepresentation for its origination volume," according to the Orlando Business Journal. Anyone can be the victim of a Central Florida mortgage scam, but the elderly are particularly at risk. You just don't expect that a wealthy widow who owns the historic Howey mansion would be among them.
Marvel Zona owned the former home of citrus grower and politician William J. Howey along with her late husband, Jack. Awed by the European feel, they bought the place in 1984 for $400,000. In … (1 comments)
|
foreclosure: Low Income, High Foreclosure Often the Pattern in Orlando - Part 2 - 02/19/10 09:08 PM
Short Sale versus Foreclosure is the dilemma faced by many disressed homeowners.
If you can prove to your lender that your financial hardship is due to situations beyond your control such as illness, job loss or a death in the family, you may qualify for a short-sale. Short sale is not a quick and easy process, but the common wisdom is that it will not destroy your credit though it will create a few speed bumps that time and effort can overcome as short-sale properties tend to resell with a higher price than a foreclosure.
How much damage a short sale … (5 comments)
|
foreclosure: Low Income, High Foreclosure Often the Pattern in Orlando - Part 1 - 02/13/10 08:47 PM
The media has reported that roughly two thirds of all resale closings in the Orlando metro area are not by realtors, but by bank-owned foreclosures and lender approved short-sales. Old news, you say? But would you be surprised to know that within our housing market there is a huge disparity between the "haves" and "have-nots" when it comes to refinancing and saving people's homes?
Statistics indicate that in lower income Orlando neighborhoods, foreclosures tend to be greater. Here, where the families are primarily ethnic, where the schools have the lowest scores, where crime is the highest, urban blight spreads quickly - … (2 comments)
|
foreclosure: Survey Says: If Your Live in Florida, You're Happy - 12/18/09 08:01 PM
Florida may have its share of bad news in the housing arena, but its citizens are happy. In fact, recent research that matched survey by the Centers for Disease Control and Prevention (CDCP) with academic research done by two economists Andrew J. Oswald and Stephen Wu, found Floridians as the third happiest Americans right behind people from Louisiana and Hawaii.
Foreclosures may nearly top the nation and unemployment is high, but Florida gets high marks on its sunny climate which undoubtedly makes people happy about their lives.
Oswald noted: "We wanted to study whether people's feelings of satisfaction with their own … (5 comments)
|
foreclosure: Beat the Foreclosure Clock: Tips for a Quick Sale of your Orlando Home - 07/27/09 06:33 AM
If you are at risk of foreclosure, you still have options. One is to quickly sell your Orlando home before foreclosure. This is a good plan if your realize that you can't afford to stay in your homea and you want to move on. Just because you want to sell it doesn't mean it will happen on your timetable, but as a seller you still have control over a few things that might help it sell more quickly.
First, correct pricing is essential. Keep in mind that regardless of what you paid for the house in different times (or even what … (0 comments)
|
foreclosure: What Should Stay, What Should Go When You're Packing Your Orlando Home - 06/18/09 10:53 PM
There was a time when people had more common sense and even in the absence of that, an innate sense of what you should be packing up when you move from your home. Whether you are going by choice or moving after foreclosure, the same rules apply.
No question about it, the foreclosure crisis has resulted in a rash of trashed, smashed, and stripped-bare homes for the next set of owners to deal with. Many homeowners, strapped for cash, have ripped out counters, appliances, light fixtures, or cabinets to sell and may have intentionally damaged what's left, out of anger. … (0 comments)
|
foreclosure: Bulldozing the Past - Half-built Homes Hit the Dust - 05/16/09 11:01 PM
If you live in Florida or other areas with high foreclosure rates, you may have wondered why homes continued to be built in many areas. Keeping in mind that there's always some market for new homes regardless of economics, more homes appeared than buyers with money. For many builders, who had already secured financing and who just finished the job as far as the financing covered, it became a waiting game to determine what to do with there properties.
With half-finished construction on their hands, builders had to make a choice of what to do with the property. Some waited it … (7 comments)
|
foreclosure: Do-It-Yourself Loan Modification - Don't Try This at Home - 05/12/09 06:35 AM
You live in a home you love but the payment is pretty high. Fortunately, you have your job and if you pull out all the stops, you can still make the payment. At a time when many others are getting relief in the form of refinancing or loan modification, you start to think how much easier your life would be if only your payment was a few hundred dollars less. You find your way to the Making Home Affordable site, and find you don't qualify for a loan modification because you are current on your mortgage. So you think that maybe … (5 comments)
|
foreclosure: Foreclosure for Fido and Fluffy - 04/30/09 04:36 PM
As a dog lover it's hard to imagine, yet a number growing of pets are left behind when a family is forced to leave their home due to foreclosure. Property inspectors and real estate brokers often enter abandoned homes to find starving, emaciated animals amidst the trash and destruction left by angry homeowners.
Some owners can't afford to continue to feed and care for the pet and walk away, with or without remorse. At the last minute they may try to find a home for the pet at a shelter, but shelters in many areas where foreclosures are high are full. … (3 comments)
|
foreclosure: How Chinese Drywall Led Me to Join Active Rain - 04/29/09 11:31 AM
I recently became aware of the dangers of Chinese drywall which was used in many places in the United States, particularly in the South after Hurricane Katrina. When exposed to air and moisture, the product releases sulfide gas, which is nauseating to smell and a potential health hazard. The gasses also feast on wiring, plumbing, and air conditioning systems. At the time I first learned of the issue, a class action suit had been filed against Lennar, a builder who used a lot of the product, but neither the state nor the EPA were involved.
Living in Florida, a tropical paradise … (3 comments)
|
foreclosure: Temporary Clouds in the Sunshine State - 04/17/09 09:01 AM
In life, we have the glass half empty and the glass half full people. I am an optimist, even in a state that is now known for foreclosures, as well as sunshine, oranges, and Disneyworld. Though speculation, falling home prices, foreclosures, and now, unemployment, pose some challenges, our economy will rebound. The sun always rises!
Having said that, even I was a little disappointed to see in a recent Wall Street Journal article, that of the 50 metro areas most likely to default on FHA mortgages, 14 were in Florida while five Florida cities were in the top ten. This is way … (6 comments)
|
foreclosure: Walking Away From Your Troubled Home - 04/06/09 01:28 PM
If your home is in or near foreclosure and you are still hoping to keep it, the common wisdom is "Don't walk away from it." Lenders and judges at foreclosure hearings are more sympathetic to saving the family home when the family actually lives there. Even if you are thinking of renting the home out for a while till you get in better financial shape so you can resume paying all the costs, you risk having it reclassified as "investment property" rather than your principal residence. Before you pack up for a cheaper rental, make some calls to people who can … (1 comments)
|
foreclosure: Cash for Keys – Opening the door to Life after foreclosure - 03/24/09 07:55 PM
When homes foreclose, displaced owners do not always walk away, heads down, chatistized by their failure. Many owners or even tenants do not want to leave - so they stay until they are evicted at additional cost to the bank. Other time, owners lash out at the bank by damaging the home so badly that it costs thousand to restore it to liveable condition. For banks, already on the losing end of many mortgages, the losses do not stop when the court returns the home to them.
To prevent these types of losses, Florida banks and others throughout the country have started … (2 comments)
|
foreclosure: Buying a Foreclosed Home - Buyer Delight or Buyer Take Flight? - 03/20/09 06:00 PM
In this great buyer's market, the supply of Florida houses is supplemented by fantastic deals on foreclosed and bank-owned homes, loaded with amenities not usually found at the at the price point the home is listing for. Should you buy now, ask questions later before one of these great deals slip away?
A recent survey by the American Society of Home Inspectors (ASHI) indicate that 67% of Americans would consider buying a foreclosed home. According to Brion Grant, president of ASHO, 50% indicated they would forego a home inspection. Previously, banks allowed potential buyers to rescind offers where an inspection revealed … (1 comments)
|
foreclosure: Hope is in the Air, Even in Foreclosure - 03/12/09 05:25 PM
Hope is the air in America. Despite job loss and economic woe, there is determination to fix whatever problems threaten to overwhelm us. Nowhere is this more true than in the area of foreclosures, a problem that both the government and private groups have sought to find solutions for. While some people find themselves on the verge of losing their homes because they took on too much debt or managed their finances poorly, many more have fallen on hard times due to job loss or illness. Many were caught up in a syndrome of falling home prices that has left them … (0 comments)
|
foreclosure: Foreclosure is Not on Anyone's Top 10 List of Things to Do in Life - 03/05/09 05:16 PM
Many people who fall into foreclosure situations do so because they wait too long. They fall into a state of denial about what is happening; rather than call the bank to work something out, they ignore the letters. Feeling vulnerable, they fall prey to scam artists who promise to save their home for a huge fee. Though a home is a material possession that can theoretically be replaced, many people who lose homes regard the loss as a personal failure. Often, in period leading up to the foreclosure, couples frequently argue about finances; when they lose the house, their relationship is … (0 comments)
|
|
|
|
|
|
Janice Petteway
Orlando,
FL
More about me…
Exit Real Estate Results
Address: 365 Wekiva Springs Rd. Suite 151, Longwood, FL, 32779
Office Phone: (407) 788-1226
Email Me
Your Expert for:
Central Florida real estate, Orlando real estate, Orlando home sales, Orange County, Seminole County, short sales, REO homes, bank owned homes, foreclosures, coaching, exit real estate results, extreme results team, real estate ethics, lakefront property specialist, relocation
Enter your email address: Delivered by FeedBurner
 Subscribe in a reader
 Listings
Links
Archives
|
;)
;)
;)
