The recession and the collapse of the housing market has each day another victim. And we are not talking about some unknown firms here, but historical real estate. As for example the historic Gulfstream Hotel is facing foreclosure now, a hotel that survived the last century’s Great Depression, but the financial recession made owners to [...]
A total of 128 condominium units were sold in Hialeah for 51% off the mortgage at the time of foreclosure. The Miami-based Ocean Bank was the winner of an $18 million foreclosure judgement in December against the developer 4400 LLC. The developer defaulted on a $16 million loan. The bank took the title to the [...]
The American homeowners and big Mall owners suffer because of the recession. Kendall’s Greenery Mall has been targeted for foreclosure by a commercial mortgage backed securities fund. CMBS fund’s special servicer, the CWCapital Asset Management filed a foreclosure lawsuit against Kendall 77 as the Miami Dade County Circuit Court records show. Wachovia Bank wants to [...]
With short sales becoming ever more popular as an alternative to foreclosures, an alarming trend dampens the irrefutable success the process offers all parties. Of course the short sale process requires the approval of the lender. Large portion of the short sales have been severely hampered by lenders failing to respond timely to the short [...]
With the Eureka Short Sale Program the homeowner’s details are withheld from the market while the conditions of the settlements are being negotiated. Subsequently the property will never be marketed as distressed sale; it will be presented to the market based on its features, not on the vulnerabilities of the parties involved. So the Eureka [...]
While Eureka is able to negotiate an agreement with the timely approval of the lender then simultaneously utilize its immense marketing capabilities to off load the property is a tremendous value to a homeowners flailing in financial uncertainty. Since the property is not marketed as short sale it gives an instant boost in marketability. Real [...]
All categories of foreclosure, (freshly instituted foreclosures, foreclosures in progress, and completed foreclosures) experienced solid gains of almost 20% from Q4 in 2009. Clearly the legal system is being tested to the very boundaries of its capacity. With fundamental assistance from the Home Affordable Modification Program (HAMP) loan modifications have increased slightly by approximately 5%. [...]
We are a nationwide network of real estate, financing and legal professionals with a mission to improve the efficiency of short sales and create a win scenario for all parties involved. We are closely monitoring the laws and regulations and promoting anti-scam and anti-fraud communications from various government organizations.
