As Florida mortgage problems continue to escalate, regulators and analysts are looking for all sources of trouble throughout the application process.
One facet recently spotlighted has been the role of the escrow service. It is often overlooked, and important to understand. Let’s investigate.
Just as Florida housing prices stall, lenders are making it tougher to borrow.
Columnist Lew Sichelman addressed the following question in his recent mailbag: if a person has a condo for sale with no Florida mortgage, and anticipate selling within the next 12-24 months, should he/she opt for an interest-only mortgage?
The scary thing? You can actually do it. Legally.
At least that’s the claim of some companies, who offer to sell or rent access to improved credit by adding low-scoring borrowers as authorized users of credit cards belonging to those with stellar credit.
Title insurance typically is a mandatory, large cost for those seeking a home purchase or Florida refinance - often in the $1,000-$2,000 range.
But is it priced too high for what you get?
It seems like an easy call, but some experts’ guidance regarding this age-old financial question may surprise you.
Having Florida mortgage troubles?
You’re certainly not alone. According to data compiled by Equifax, one of America’s three major credit bureaus, mortgage delinquency rates hit an all-time high in the first quarter of 2007.
It’s imperative, when you enlist a Florida mortgage broker for help in your home loan search, that you trust him or her absolutely. At Florida Home Loan, we pride ourselves on integrity, experience and trust. But as the Miami Herald story below notes, not all brokers are what they bill themselves to be.
Question: My wife and I are in the 33 percent tax bracket. We’re getting the standard tax breaks for owning our home, having a child and making charitable contributions, but we’re getting hit hard with taxes. Do you think we should buy a bigger home to get a bigger tax break?
Bad credit Florida mortgage foreclosures are a direct result of a slower housing market throughout the Sunshine State. But there’s another, less obvious factor wreaking havoc among it consumers: Credit card debt.
