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Category Archives: Short Sales

More Than 45 Percent of Florida Loans Underwater, Causing Massive Foreclosures in Miami

By Jacobs Legal |

The number of underwater mortgages in Florida has reached a crisis level. One report indicates 45 percent are in that category, which has led to strategic defaults, short sales and foreclosures in Miami. Homeowners simply cannot be asked to continue making payments on houses that aren’t worth the price. An underwater loan is one… Read More »

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Half of Miami homes sold as short sales – half of Miami homeowners underwater – homes worth half of market highs

By Jacobs Legal |

CBS 4 is reporting that home values continue to plummet in South Florida, with struggling Miami homeowners being among the hardest hit. Nearly half of all home sales in Miami were short sales. The banks are evolving and getting smarter as the real estate slump grinds on. The best way to stop foreclosure in… Read More »

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Waiver of deficiency critical for Miami homeowners facing foreclosure or short sale

By Jacobs Legal |

The Miami Herald reports about a thriving private industry that is buying debt from banks and chasing homeowners for mortgage balances owed in the wake of a short sale or foreclosure. This is another example of why it is critical to consult an experienced Miami foreclosure attorney for those seeking mortgage foreclosure help or… Read More »

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An experienced Miami foreclosure attorney can help protect against deficiency judgments

By Jacobs Legal |

Lenders dealing with foreclosures and short sales in South Florida and across the nation are expected to file a barrage of lawsuits seeking to recoup losses from homeowners, the Miami Herald reported. An experienced Miami foreclosure defense attorney should assist buyers dealing with a short sale or foreclosure. Without a written agreement from your… Read More »

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Bank of America’s Latest Bluff – Watch Out for a Short Sale Approval Letter that Reserves the Right to a Deficiency Judgment

By Jacobs Legal |

Make sure you have an experienced foreclosure defense attorney read your short sale approval letter before you agree to close. An alarming new trend is confronting underwater homeowners facing foreclosure in Miami and South Florida. Even if you do everything right to short sell your property, Bank of America may still want its deficiency… Read More »

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South Florida short sales an option best discussed with a Miami Foreclosure Attorney

By Jacobs Legal |

Banks are picking up the pace when it comes to approving short sales in the Miami area and across the country, a trend expected to continue in the coming months as the government pays lenders to close the deals, CNN Money reported. However, loan modifications are still voluntary and many banks still refuse to… Read More »

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