davie bank owned foreclosures: 4 Major Reasons Forbearance Won’t Lose Their Homes to Foreclosure
- 10/13/22 09:57 AM
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen. 1. Almost 50% Leave Forbearance Already Caught Up on Payments According to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited. 26.6% made … (1 comments)
davie bank owned foreclosures: Today Is A Skills Market For South Florida Real Estate
- 10/04/22 10:32 AM
In today's ultra-competitive real estate market where there is only 1.7 months supply of inventory compared to 6 months in a balanced market, and the average home is getting 4.8 offers per sale, it is more important than ever to have the right person "champion" your cause. In the Middle Ages, it became customary for a person of nobility to appoint a "champion" to fight for them in their stead. Trial by combat ended in the 15th to 16th centuries but the practice of "fighting" or speaking in one's behalf continues even to this day. Lawyers will take up the cause of their client to win … (1 comments)
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Now, nearly 8 years after the foreclosure crisis began, more than 5 million homes have been lost. In June 2016 the sale of foreclosed properties fell to their lowest levels since 2008, and the foreclosure rate fell to “only” 1.7%.
That sounds like the winding-down of the crisis. Unfortunately, a whole new wave of foreclosures is on the horizon.
While newer-vintage loans are doing well, it seems that the foreclosure crisis was never solved, it was only deferred.
First, the interest-only home equity loans that people took out during the bubble years will re-set, … (0 comments)
Even though the bulk of the housing crisis has passed, you'll still find more bank-owned homes than usual for sale across the country. Even in the best of times, there are always a few.
Bank-owned homes here in Davie do usually offer good value for the money. The owner wants them sold and has no emotional attachment to prevent reducing the price if they don't sell quickly. Whether they're right for you depends upon whether you're willing to deal with a bit of clean-up, fix-up, and uncertainty.
Some banks will do initial cleaning, and some will actually make repairs … (1 comments)
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure
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