Homeowners in Florida who are living with the constant threat of foreclosure looming over their heads are struggling to keep themselves afloat financially. Changes in income and employment and mounting debts can lead to feelings of despair. If you have already fallen behind on your second mortgage payments, you may be able to prevent your lender from foreclosing on your home with bankruptcy by filing to have the lien stripped.
Whether you love having a Homeowner's Association or hate it, you will probably find yourself living in a neighborhood that is subject to dues and restrictions at some point in your life. Floridians are likely to experience this more often than residents of any other state, according to HudUser.gov. As more and more homeowners in Florida have chosen to accept the terms of an HOA in exchange for services such as yard maintenance, lawn trimming and leaf removal, and community benefits including pools, playgrounds, events and clubhouses, an increasing number of neighborhoods have moved to an association-managed community. New construction has seen the biggest influx, with over 60 percent of all recently built neighborhoods featuring an HOA. While this may seem like a positive move to some, many people do not realize that an HOA can actually lead homeowners to foreclosure.
It's a concern we've all had at one time or another in our adult life: what will happen to my home if I don't have enough to make payments? A lot of people automatically assume they will have to go through a short sale or worse, foreclose on their home, which can be equally painful emotionally and for a person's credit score.
Whether you are behind on your mortgage payments or if your home is already undergoing foreclosure, the best approach for resolving this issue is paying off your debt immediately -- before your property sells or goes to auction.
As you likely know, the state of the economy has not been easy on homeowners over the past decade, particularly for those who live in Florida. Many have had to file bankruptcy, and many have had to deal with their homes going into foreclosure. You may even be one of those who are still be experiencing the effects of the market crash and what it has done to homeowners everywhere.
Since the 2008 housing market crash, the US has seen a tremendous surge in home foreclosures. People could no longer afford their homes for a variety of reasons, often through no fault of their own. While some people had simply gotten in over their heads with their mortgages, others experienced financial hardship due job loss, medical expenses, or other personal disasters.
No one is immune to financial struggles. And when these struggles mean that you can't afford to pay your federal income taxes, the IRS might file a Notice of Federal Tax Lien against your home.
If you're facing foreclosure proceedings, it might feel like you're trapped. Your livelihood, as well as the roof over your head, may seem to be in jeopardy. Luckily, there are ways to avoid foreclosure.
If you are overwhelmed by debt, you may be wondering if there's any way to stop your creditors from calling. Can you get real financial relief? Do you have any valid options?
Trust is a hard thing to come by these days, especially if you are behind on your mortgage. You get calls from your lender or third-party servicer at the beginning of the month. If you get a good representative, the call is somewhat conversational. The collector gently reminds you that you haven't paid yet but that the company will work with you.