Blog

ASSOCIATED PRESS | “Two Florida cities lead the nation in foreclosures of high-end properties worth $5 million or more. The research firm RealtyTrac said in a report Wednesday that Miami and Orlando were at the top of the list of foreclosure activity on homes in the $5 million-plus range. Other cities with high numbers of foreclosureRead more

Eric Kalis | Palm Beach Post | The Real Deal | “For homeowners in Florida, obtaining a loan modification through the federal government is not necessarily preventing future defaults. The inspector general for the Troubled Asset Relief Program says 27 percent of Florida homeowners who modified mortgages through the Home Affordable Modification Program have onceRead more

Pamela M. Prah | Stateline | “Some of the states hit hardest by the foreclosure crisis aren’t spending millions of dollars that the federal government has set aside to help struggling homeowners, a new report shows. Of $7.6 billion the federal government has provided in the “Hardest Hit Fund” to help homeowners, states have disbursedRead more

Roger Weeder | First Coast News | “Foreclosure courts are in full swing across the state, including Duval County, which has 2,700 cases that date back to before 2010. Six judges are handling the load, holding hearings four days a week and clearing out nearly 300 cases a week, according to the Clerk of Courts office. In GreenRead more

Francys Vallecillo | World Property Channel “The median price for Florida’s existing single-family homes sold in October was 16.6 percent higher than last year, marking the 23rd consecutive month of yearly price increases, according to Florida Realtors. The statewide median sales price for single-family homes reached $169,000 in October. The median price for townhomes/condos reachedRead more

Alyssa Gerace | Reverse Mortgage | “On Tuesday, Florida will reportedly announce a new program aimed reverse mortgage borrowers in the state who have defaulted on their loans after struggling to remain current on their taxes and insurance. The Florida Housing Finance Corporation is introducing the Elderly Mortgage Assistance Program as part of its $1 billion Hardest Hit Fund. It’sRead more

By Josh Salman | Herald-Tribune | “Florida’s $1 billion program to help prevent foreclosures in the wake of the housing crisis continues to diversify. The Florida Housing Finance Corp. announced Tuesday it would earmark $25 million of its Hardest-Hit Fund to help elderly homeowners with reverse mortgages. The agency says the new program will help recession-battered FloridiansRead more

CHARLENE CROWELL | NNPA | “With the annual holiday season approaching, many across the country will soon be celebrating with families and loved ones. Many such gatherings will toast the season and its blessings. But for families still troubled by delinquent mortgages and foreclosures, this time of year has another meaning. These consumers are wonderingRead more

Prashant Gopal | Bloomberg | “The share of U.S. mortgages that are seriously delinquent fell to a five-year low as job gains help borrowers keep up on payments while rising home prices enable others to sell. The percentage of home loans that were more than 90 days behind or in the foreclosure process fell to 5.65 percent in theRead more

Reuters | “There were 51,000 completed foreclosures last month, down from 84,000 in September, 2012. Foreclosures are completed when a home is either seized by the lender or sold at auction. There were also 51,000 foreclosures in August. Between 2000 and 2006 and before the housing market’s downturn in 2007, completed foreclosures averaged 21,000 perRead more