Earlier this week, the federal government and several states including Florida, reached a landmark $25 billion settlement with 5 major banks: Ally/GMAC; Bank of America; Citi; JPMorgan Chase; and Wells Fargo.
As a result of the economic downturn and residential mortgage crisis in recent years, Floridians have been hit the hardest. According to the Daily Finance, 24% – nearly a quarter – of all home loans in Florida are delinquent, and 14% are in foreclosure.
The staggering rate of foreclosures on Florida’s homes and businesses is well known. What property owners may not realize, however, is that lenders may have legal cause to foreclose after just one missed payment. In some cases, depending on the …
This week, Florida Housing announced the expansion of a federal foreclosure prevention program called the “Hardest Hit Fund” throughout the State of Florida. On Monday, April 18, 2011, Florida homeowners facing possible mortgage foreclosure will be able to apply …
Hardest Hit Fund will Help More Floridians Avoid Foreclosure Read more »
