Nancy Deichman, CDPE,CRS
phone 352-427-5704
Re/Max Premier Realty,Inc.
www.stopocalaforeclosures.com
There is much good news on the horizon to relieve distressed homeowners in Florida of the havoc that has been created in their lives due to job losses, pay cuts, drastic falls in home values and many other reasons that they may be living with the threat of foreclosure on their homes.
The Florida Supreme court has issued recent rulings regarding methods that lenders must comply with in the State of Florida regarding foreclosure procedures. This will hold lenders more accountable for having the proper documentation to drag distressed homeowners through the court system with their hired "foreclosure mill" attorney groups.
Lenders will also be required to come forth in a "Mediation" to attempt to work out alternatives to foreclosure, such as modifications when possible and short sales or deeds in lieu when the homeowners can't sustain a reasonable modification plan.
This action comes in tandom with new guidelines to be in effect as of April 5, 2010 by the Federal Government awarding incentives for lenders and homeowners to work out solutions like short sales and deeds in lieu with full debt forgiveness so the homeowner can move on and not worry about the "other shoe dropping" (most cannot pay any short fall of the remaining mortgage debt.).
Hopefully these new actions will slow the unprecedented amount of foreclosure activity that has been devistating home values in the sunshine state and clogging up the court systems.
These rulings were badly needed and are welcomed by the real estate community that has specialized in helping prevent foreclosures for families in need of assistance.
As an advanced member of the Certified Distressed Property Institute, and a foreclosure prevention specialist, I applaud the State of Florida for the recent rulings. And I thank all fellow CDPE's for their hard work and persistence for helping homeowners in a great time of need.
Call or email us today to see what solutions are in store for you.