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Underwater Mortgages in Florida and the United States: New CoreLogic Negative Equity Report Reveals Slow Recovery for Home Owners with Underwater Mortgages

Underwater: it’s a scary term for many real estate owners here in South Florida, and it’s a major concern for many who pay their mortgage payment each month, knowing full well that the amount on the home loan is so much greater than the current value of...

Florida Legislature Annual Session Begins Today: Proposed Laws That Impact South Florida Home Owners In a Big Way Are on the Table

Today, the 60-day annual session of the Florida Legislature begins, and the entire country is watching.  The next nine weeks are going to be a very important time for Floridians, especially Florida home owners. Things began with Governor Rick Scott’s State of...

Florida Supreme Court Rules Against Florida Home Owners in Pino v. Bank of New York: Bad Day for Florida Foreclosure Defense, Great Day for Fraudulent Filing Banks

The Florida Supreme Court has ruled against Florida homeowners –  and for the foreclosing banks –  in Roman Pino v. the Bank of New York.  The opinion came down on February 7, 2013, and you can read the entire thing online at Google Scholar.   Pino...

Florida Short Sales, Deficiencies, and Taxes: Will 2012 Fiscal Cliff Bring End to Income Tax Forgiveness on Deficiencies or Will Florida Short Sales in 2013 Have Forgiven Mortgage Debt as Taxable?

For many months now, we’ve been monitoring the FIT situation for underwater mortgages, as well as those homeowners facing foreclosure, regarding Florida short sales and the current income exclusion from federal income taxes.  In short, back in 2007 a law was...