Category Archives: Real Estate

Blick Law Firm educates on Home Affordable Foreclosure Alternatives program

Posted on March 15, 2012 by Blick Law Firm

The (HAFA) Home Affordable Foreclosure Alternatives program was developed to give homeowners a way to settle their mortgage debt without going through a foreclosure.

Because foreclosures have dominated our economic housing market, Tampa short sales are designed to help homeowners sell their home for the current value.  Although the mortgage debt owed may be  more than the value, in most cases the debt is satisfied by the mortgage company.  This federal government program streamlines the short sale approval process and offers financial assistance to help you with relocation.

Homeowners may be eligible for the Home Affordable Foreclosure Alternatives program if:

  1. The property is their current principal residence, OR the property has been vacant or rented out for less than 12 months, and you have not bought another principal residence during that time.
  2. The amount you owe on your first mortgage for your property is equal to or less than:
  • $729,750 for 1 unit
  • $934,200 for 2 units
  • $1,129,250 for 3 units
  • $1,403,400 for 4 units
  1. You owe more on your home than it’s worth.
  2. Your current mortgage was taken out on or before January 1, 2009.
  3. You are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan.

Call your Tampa real estate attorney today to see if you qualify for a short sale.

With our excellent service and staffing, we will communicate with your mortgage company, eliminating harassing phone calls from their collections department. With Blick Law Firm you can select your realtor, or we have several with whom we have long established relationships with that will assist you through the process of listing and showing your home. Our short sale negotiators are highly experienced and will do their best to make this an easy journey as you go through this difficult season in your life.

Did you know? Typically, 120 calendar days are given to acquire an offer.

Call us today for your free short sale consultation! 813-931-0840

 

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Tampa- Avoid mortgage modification fraud

Posted on February 22, 2012 by Blick Law Firm

TAMPA- Homeowners struggling to make their mortgage payments should beware of con artists and scams that promise to save their homes and lower their mortgage debt or payments.

Some tips to avoid mortgage modification scams are:

1. Beware of anyone seeking to charge you in advance for mortgage modification services – in most cases, charging fees in advance for a mortgage modification is illegal, except for an attorney or a licensed mortgage broker.

2. Applying to the federal Home Affordable Modification Program (HAMP) is free and for the public.

4. Check references. If an individual or company claims to be affiliated with HAMP or displays a seal or logo representing the U.S. government in correspondence or on the Internet, you should check the connection by calling the Homeowner’s HOPE™ Hotline.

Also, by asking the company that is assisting you for their NMLS number. This states the approval for the company or individual to conduct business in mortgage modifications.

5. Beware of individuals or companies that offer money-back guarantees.

6. Beware of individuals or companies that advise you as a homeowner to stop making your mortgage payments or to not contact your mortgage servicer.

Blick Law Firm understands your options and can negotiate between you and your mortgage company. Do not just let anyone who claims to be experts help you! We are experienced and able to help you with your loan modification, mortgage loan and approval.

Call today for your free consultation and screening at 813-931-0840.

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Tampa- Banks incentive program to borrowers cause spike in short sale

Posted on February 9, 2012 by Blick Law Firm

Short sales are a lenders best friend! Only until recently, Lenders are starting to embrace the idea of Tampa bay short sales.

In the past three years, there has been a 350% increase in the amount of homes sold through short sale, according to Corelogic’s most recent numbers.

How are banks benefiting from this?

Banks benefit because it decreases the large amount of foreclosures, alleviating the court systems of back logs related to foreclose cases pending.

In a short sale, there is a seller & buyer.  The seller gets out of their home, often with a cash incentive to help with relocation expenses, and most banks do not hold a deficiency judgment against them.

The buyer gets a nice home at a very reasonable cost and  neighborhoods do not suffer from run down or vacant property.  Therefore, the bank is satisfied as well as cultivating economic stability and growth.  Everybody wins!

If you fear you are in danger of losing your home, don’t hesitate.  Think Quick!  Call Blick!  Our real estate department is ready to counsel and guide you towards your best option for you and your loved ones. Call us today at 813-931-0840 and receive a free consultation! Just mention this article!

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Tampa Bay foreclosures increase 33%

Posted on November 10, 2011 by Blick Law Firm

Tampa- According to the Tbt, foreclosures increase 33% percent last month. Banks continue to schedule more houses for courthouse auctions but the bay area is not alone.

In Florida, lenders notified 10,655 homeowners that their houses will be sold in court. According to Realty Trac locations include: Miami-Fort Lauderdale recorded 4,193; Tampa Bay at 1,119; Orlando-Kissimmee, 1,093; and Cape Coral-Fort Myers, 441.

On a more positive note, the increase in auctions will help to rehabilitate the housing markets. The housing market cannot recover until the foreclosure backlog is cleared.

It seems this problem will be with us for a while according to Scott Brown, chief economist with Raymond James in St. Pete.

If you are in the process of a foreclosure or you recently have been served with a summons, please contact your Tampa Real Estate attorney today. What does foreclosure mean? Can a foreclosure be stopped on your home? Can you save your home from foreclosure? Call us today and we will assist you in the right direction during this unfortunate time. Think quick, call Blick. 813-931-0840

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Tampa HARP mortgage program to help struggling homeowner

Posted on October 25, 2011 by Blick Law Firm

Florida, with its struggling economy and backlog of foreclosures, could be a main beneficiary of a revamped mortgage refinancing program announced Monday.

The new Home Affordable Refinance Program is designed to make it easier for borrowers with underwater mortgages to take advantage of today’s historically low interest rates.

The desired outcome: Lower monthly mortgage payments means more people can stay in their homes — and out of foreclosure. It also means more money in people’s pockets to pump into the economy.

Earlier, more restrictive rules prevented many homeowners, especially those who bought during the height of the real estate boom, from benefiting. The revamped program has fewer restrictions.

University of Central Florida economist Sean Snaith said the announcement is the “first sensible housing policy” he has heard in some time and could give the sagging economy a boost.

As of the end of June, more than 314,000 Tampa Bay area homeowners owed more than their homes were worth, according to mortgage research firm CoreLogic. Forty-five percent, or 1.9 million, of all mortgages in the Sunshine State are underwater — the third highest in the country.

“This is a step in the right direction,” Snaith said. “It holds some promise. This will free up disposable income.”

Here are some questions and answers about the Obama administration’s initiative:

What is the program?

The Home Affordable Refinance Program, or HARP, was started in 2009. It lets homeowners refinance their mortgages at lower rates. Borrowers can bypass the usual requirement of having at least 20 percent equ…read more

Call to speak with your Tampa real estate attorney today to get the proper council and assistance with regard to your situation! Think quick, call Blick. 813-931-0840

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Hurricane Irene and the Insurance Battle

Posted on August 29, 2011 by Blick Law

Hurricane Irene, has left the country.

According to Wall Street Journal, Though not as brutal as feared, the storm was still destructive, killing 24 at last count and causing billions in estimated property damage, with flooding still a risk in some parts of the country, Fox News reports.

For many in Irene’s path, the focus will now turn to trying persuade insurance companies to cover their losses.

One prime concern is that standard homeowners insurance typically covers damage from wind but not flooding, and it can be hard to tell which is which, according to this report from Smart Money.

Hurricane Katrina was followed by extensive litigation over whether homeowners policies did in fact exclude coverage for water damage. Insurers won many of those disputes, as we reported here.

If strong winds tear through the roof or wall of a house and leads to flooding, consumers with homeowners insurance only (and not additional flood insurance) will have to argue that it was wind — not subsequent flooding– that led to the damage, according to Smart Money.

Insurance companies have started to pass more of the financial burdens of natural disasters to policyholders, Smart Money reports, noting that many insurers now require mandatory hurricane deductibles, which can raise out-of-pocket costs for policyholders.

“Families will have to dig deeper into their pockets,” J. Robert Hunter, director of insurance for the Consumer Federation of America, said.

That’s not to say, though, that Irene will be a picnic for insurance companies. Rod Fox, chief executive of reinsurance broker TigerRisk, said his back-of-the-envelope estimate was that Irene likely caused $3 billion to $5 billion in insured losses. At the high end of that range, Irene would be the tenth most expensive hurricane in U.S. history, behind 2004?s Hurricane Frances. read more.

If you have further information regarding this article or in need of some legal consultation, please contact your Tampa Bay attorney today at 813-931-0840.

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