Central Florida Short Sales

Hi Florida Homeowners. Are you struggling to make your mortgage payments due to unemployment? If so there may be help available through the new Florida Hardest Hit Program. This program went into affect Monday 18 April and is offering help for Homeowners. There are 1 Billion dollars available and it is being dished out on a first come first serve basis.

The following information is from the website: http://flhardesthithelp.org

An eligible homeowner:

• Must be a Florida resident;
• Must occupy property as primary residence (the property cannot be vacant, abandoned or rented);
• Borrower/co-borrower must be unemployed or underemployed through no fault of his/her own, which makes the first mortgage unaffordable;
• Must have documented total household income at or below 140% of the area median income (AMI), adjusted for household size;
• Must have an active checking/savings account that can be debited by the ACH method of funds transfer;
• May not have unencumbered assets of $5,000 or more, or three times the current monthly mortgage payment (whichever is greater);
• Cannot have a bankruptcy that has not been discharged or dismissed; and
• Cannot have been convicted of a mortgage-related felony in the last 10 years.

The current mortgage:

• Must be serviced by a participating lender, who agrees to accept payments on behalf of the homeowner;
• Must not be more than 180 days past due at the time of application;
• Must have been originated on or before January 1, 2009; and
• Must have an existing principal balance of less than $400,000.

Not sure if this is a fix or a band-aid but it is certainly worth checking in to. I'm all for keeping folks in their homes if possible. Go check it out.

Are you facing foreclosure in Florida?

Hi folks. Here's a map showing the current foreclosures in Poinciana Florida as of December 12, 2010. The red dots are properties being foreclosed on. They do not include properties that have already been foreclosed on. Need I say more?

Since January 2007 there have been 4646 residential sales in Poinciana according to the MLS. Of these 2540 were REOs. That's a liitle over 55%.

There are roughly 21,000 homes in this area. So 12% of the homes in Poinciana have been sold as foreclosures through the MLS in the last 3 years. This of course doesn't count anything that was bought at auction and it doesn't count homes that haven't sold.

I got the idea for this post from www.BoingBoing.net

1. Punch any US address into Google Maps.
2. Your options are Earth, Satellite, Map, Traffic and . . . More. (Select "More")
3. The drop down menu gives you a check box option for "Real Estate."
4. The left column will give you several options (You may have to select "Show Options")
5. Check the box marked "Foreclosure."

Are you facing foreclosure in Florida?

Hi folks. This current real estate market and economic climate is really taking it’s toll on people. We’ve recently heard of  “Strategic Defaults” and “Delaying your foreclosure” now we have the “Walk Away” or mailing your keys back to the lender. Jingle mail is what the lenders call it.

And its spreading.

Not only are people doing this with their houses but they are also doing it with their other debts. Stop paying. Walk away.

If you want to get a better feel for people’s thought process just read through the comments on this article:

The New Consumer Debt Strategy: Just Walk Away

People are fed up. They are getting fed up with their credit cards' interest rates going up even though they have never been late on a payment.

People are fed up with corporations getting trillions of dollars in bail out money while they get squat.

People are fed up with FICO scores and the control they have over our lives:

5 People Who Check Your Credit

People are fed up with creditors and their lack of willingness to help.

People are fed up. Are you?


So walk away
And close the door
And let my life be as it was before
And I'll never never know
Just how I let you go
But there's nothing left to say
Just walk away

*** Celine Dion---Just Walk Away---Lyrics by Albert Hammond.

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Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***