Florida Foreclosures, Miami Real Estate

New Federal Housing Administration loan assistance

The government will announce Thursday that loans backed by the Federal Housing Administration will be qualified for payment reductions comparable to the Obama administration's loan modification program. Thus helping residents with their Florida foreclosures and Miami real estate properties.

Financially troubled homeowners who have an FHA-insured loan can apply for a adjustment under a program parallel to "Making Home Affordable" to help lower their payments and possibly avoid Florida foreclosure on their Miami real estate property. This will be effective on August 15.

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Florida Foreclosures, Miami Beach Real Estate

Florida Foreclosures, How to Attract Buyers

It’s a buyer’s market and most homes selling during this distressed time are Florida foreclosures. But there are ways for homeowners to increase the odds of attracting a buyer and competing against the lenders.

Sellers trying to move property in South Florida's housing market face one of the toughest environments in decades with an abundance of competition from cheap Florida foreclosures and short sales.

In February, more than 60% of homes sold were so-called distressed sales, where the seller, most typically, a lender lets the property go for a meager amount.

Full Article...Florida Foreclosures, Miami Beach Real Estate