Larry Tolchinsky | June 18, 2013
In Florida, when the mortgage balance is more than the sales price of a home in foreclosure, there is a “deficiency” – stated another way – the deficiency is the amount due the lender when the sale proceeds in a short sale are not enough to pay the loan balance. That “deficiency” can be the [...]
Larry Tolchinsky | April 30, 2013
Florida homeowners, and borrowers across the country, are no longer considering HAMP (Home Affordable Modification Program) to be the big success that it was touted to be by the Treasury Department when it debuted back in 2009. HAMP, as you may recall, was a part of the MakingHomeAffordable program which describes itself as: The Making [...]
Larry Tolchinsky | April 23, 2013
How is the Florida foreclosure market doing right now? Some are reporting optimistic viewpoints – we’re out of the woods, they claim: everything is getting better every day. Meanwhile, for those working with Florida home owners and Florida borrowers in the current South Florida real estate market, it’s not that rosy. Here’s why: Proposed [...]
Larry Tolchinsky | April 16, 2013
For those who live outside of the State of Florida but who own or owned Florida real estate subject to foreclosure, the possibility of that foreclosure’s deficiency judgment being collected in your resident state is real. Florida Deficiency Judgments Have Five Year Statute of Limitations Deadline Deficiency judgments? We’ve written a lot about deficiency judgments [...]
Larry Tolchinsky | April 9, 2013
Today, the Federal Housing Finance Agency (FHFA) released its January 2013 Refinance Report which provides information on loan modifications and refinancing during the first month of this year, not just through the federal HARP option for homeowners (Home Affordable Refinance Program), but through other re-financing alternatives available through Fannie Mae and Freddie Mac, too. The refinancing of [...]
