Central Florida Residents See How You Can Avoid Foreclosure Reserve Your Place In A Free Webinar That Will Show You How

 

The numbers are staggering. In 2006 the percentage of Americans that were faced with a foreclosure was .58 of all house holds in 2007 that percentage rose to 1 that is a 42 increase and 1 may seem like a small number but we are talking 1 of millions and millions of homes. For the state of Florida the percentage is double that of the nation as a whole with 2 of all Floridians entered into some stage of foreclosure and a total of 165291 homes foreclosed on in 2007. Sadly Central Florida has been among the worst hit by this trend with some neighborhoods beginning to become run down because of the vacant homes with unkempt lawns or rental homes with multiple families occupying them causing the home front to resemble a parking lot.

So what has caused this to take place? In 2005 the Central Florida area experienced a hot sellers market that quite literally burned out of control. Houses were selling like hot cakes listings were flying off the shelf faster than agents could believe homes were listed one minute and sold the next. At the same time home prices were being drove up and up and up ridiculously! It was unbelievable we saw 10000 increases in that matter of 7 days! The market at this time pushed home prices up so high that the average person in this area could no longer afford to purchase a home based on the average salary in the area. The market needed some serious correcting and the result; home prices plummeting over the past 12 months.

Many of the buyers in 2005 could only qualify for a two or three year also known as subprime adjustable rate mortgage. So their rates adjusted payments went up leaving the homeowner no longer able to afford their payments and the ripple affect goes on and on leaving many Central Floridians without a paddle so to speak.

A decrease in income due to the economic hardship has also become more apparent as many types of employment that supported the Floridian have drastically decreased such as contractors and laborers. It is becoming more common to see developments stagnant as the funds and demand for homes no longer exists. For the lucky few who STILL have a good credit score and the option to refinance the adjustable rate mortgage cannot do so! A home can only be refinanced for what it is worth. What is becoming a very common phenomenon is that the current adjustable rate mortgage EXCEEDS the appraisal value. Therefore a refinance to a fixed rate mortgage is not possible. An example: Mortgage amount 300000current appraisal value 220000.

THE FORMULA LEADING TO FORECLOSURE:

An adjustable rate mortgage resulting in higher monthly mortgage payments unable to refinance due to current value of home and/or current credit score and personal and/or financial hardship such as a divorce or loss of income. Foreclosure will knock at your door!

The good news is that everything turns around and if you are able to stay in your home and ride this out eventually property values will start going up again. If you have found yourself in the situation that you can no longer afford your mortgage payment either because your rate has or is going to adjust increases in taxes or insurance premiums perhaps there has been a sickness or disability in your household or someone has lost their job there is certainly a lot of that going on these days YOU DO HAVE OPTIONS AND YOU CAN AVOID FORECLOSURE and save your credit from the black eye that comes along with it! If you are behind on your mortgage or if you know you are not going to be able to afford the payment because your rate is going to adjust or any other reason you need to start exploring your options now.

We are offering free webinars several times a month on a reservation bases only and attendance will be limited. The purpose of the webinar will be to educate you on your options and help you decide the best way to move forward. Avoiding foreclosure will benefit you in the long run as the impact of a foreclosure on your credit rating is devastating. Reservations will be taken on a first come first serve bases.

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Easy Online Real Estate Marketing

 

Any real estate agent whether new to the game or veteran player knows how important it is to have leads. Leads are not always easy to come by but since the invention of the internet they are easier than many agents make them out to be.

Creating an online newsletter is an easy way to get leads. Place a singup for your email newsletter on your website thus receiving an email address. Likely if someone puts their email address in for your newsletter they are interested at least in what you do or what you have to offer. These are people that you can call leads.

Another way to attract leads is by offering great website content on your site. A site with lots of good content is much more likely to hold the attention of a person than a site that has a generic list of homes for sale and your phone number listed in a form that looks like it was done on a typewriter. Not only do people like good content but search engines love it too. The more good content that is picked up from your website by search engines the better off you will be getting to the top of the listings on search engine pages thus bringing more visitors to your site and creating more leads. With all of the leads discussed in this paragraph alone you are sure to convert one to a paying customer.

In your website you can offer consumer education regarding mortgage loans getting a home ready to sell moving and packing and other home selling or buying strategies. These hints can be useful to both buyers and sellers and will help attract and keep potential customers on your site. Providing things like school information local weather mortgage calculators and the likes will keep customers coming back even if they did not find the right home the first time they searched.

Offer something free for them signing up for your newsletter. Offer to send them information on the area that interests them. You can find a plethora of information from the local Chamber of Commerce the school boards and many local businesses will offer coupons for you to send to potential clients. This simple gesture will cost you very little often just the cost of postage and may possibly mean the world to a person that is moving to the area from a great distance away.

Offer a contest. Have your visitors sign up to possibly win something that would be of value to them. Offering a 50 gas gift card may seem like a chunk of change from your pocket but if you offer one per quarter or one per month the sales that are generated from the visits to your site will pay for the gift card that you offered ten fold.

Most importantly have a place on your site to capture the names and information of all of the visitors to your site. Make sure that there is a place for the visitor to easily contact you even if it is just be email. If you offer a way to contact you on your site make sure you monitor that email and respond in a timely manner.

If you post frequently you will likely have more repeat visitors to your site. Although you may not get repeat business very often by updating your site regularly people may continue to visit keeping your site and you fresh on their minds. This will offer the chance of your customers referring their friends to your site for their housing needs.

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Foreclosure It Can Wipe Out The Equity In A Home

 

“Foreclosure can be defined as a process of recovering the amount of default from a defaulter on a loan either by selling or taking ownership of the property pledged as the security for the loan amount”.

Because of the recession period the economy is going through now unemployment huge debts and lack of accessibility to credits are making it very difficult for many families to pay their mortgage payments and they have no other go than to hand over the keys of their homes to lenders and walk out.

There are different kinds of foreclosures.

Home foreclosure: When a person borrows money from a money lender he is liable to pay the interest and the principal amount. When he defaults the payment the lender then takes possession of the house and this process is known as home closure. The lender then files a notice in the court called Notice of Default when the borrower defaults for more than 30 to 60 days to reclaim the property to recover the amount owed.

If a person owns a property he is liable to pay property tax. If the owner does not pay tax the Government places a lien on the property whereby the owner has to pay tax amount the interest and the penalty charge for defaulting payment. This process is known as tax lien foreclosure.

When a person takes loan for business by mortgaging commercial property and the business defaults the payment the property is sold for recovery of dues.

There are four steps of foreclosure:

The procedure of foreclosure varies from state to state but the process is almost the same.

When the owner defaults payments a Notice of Default is send to him. This is officially recorded by the bank. Usually it is not send when there is a default of one payment but several payments.

The owner can reinstate the loan. Just because the foreclosure process has started he does not loose the house now itself. He can stay in it and he can arrange for the money and repay the missed payments along with the late fees five days before auction of the house.

The date for foreclosure is set by the bank and it is usually around three months. Till then the owners can live in that house.

Though the owner can stay till the house is sold once the house is auctioned then the new owner will evict the present owner sometimes within 24 hours.

Foreclosed property is on the increase in America. Real estate has stumbled down and many Americans are not able to sell their houses and tend to loose their homes. Between July 2007 and July 2008 foreclosure activity has increased by 55 percent.

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Boat Accidents and Injuries

An Overview

According to the United States Coast Guard in 2002, more than 12.5 million boats and personal watercraft (PWC) were registered in the United States. In particular, the use of personal watercraft, such as Jet-Skis and other brands, has exploded since the ’90s. Not surprisingly, the United States Coast Guard also reports that each year there are more than 8,000 boating accidents that result in more than 4,000 serious injuries and 800 deaths.

If you have suffered an injury on a boat, while boating or while engaged in other water sport activities, you should consult a personal injury attorney with experience handling such claims as soon as possible after the accident. The laws that apply to injuries that occur on and around the water are complex and there are several questions that must be analyzed in order to correctly to determine the value of a boating injury claim. For example, does state negligence law, federal maritime law or both control the claim and the amount of damages that can be recovered? Who is the responsible party? Is the cause of action against the owner for negligent operation? Did the boat malfunction creating an actionable product liability claim against the manufacturer, as is common with personal watercraft? Clearly it is important to consult with an experienced attorney.

The Jones Act

If the person injured on or around a boat or water falls within the legal definition of “seaman” special protection may be available via the Jones Act. The Jones Act has special rules that protect seaman and make recovery of certain damages and benefits easier. In order to fully understand the Jones Act and its benefits, you must first understand the special terminology it uses.

Seaman

A seaman is a person with employment-related connection to a vessel in navigation and whose connection to the vessel’s mission is substantial. Essentially, if you earn your living at sea, you are a seaman. A person whose work is covered under the Longshore and Harbor Workers’ Compensation Act may be treated as a Jones Act seaman in some cases.

Maritime Law

Maritime law, often called Admiralty law, is a set of legal rules and practices governing the business of employment and transportation of people and goods over or near navigable waters.

Before discussing the types of activities subject to maritime law and the special remedies available to people who make their living on the seas, it’s important to first understand what conditions must be met to trigger maritime law. To fall within maritime (also called admiralty) jurisdiction, the tort (or wrongful act causing the accident) must have occurred on “navigable waters” and meet a two-prong nexus test.

“Navigable waters” is a legal term describing all waters which are capable of transporting people or cargo between the states and other countries. Essentially it means the waterway must be usable as a highway for interstate commerce. Inland lakes that do not connect to an interstate waterway or the open sea would not meet this test. As a matter of law the open sea and waterways used for interstate commerce (such as rivers) satisfy are navigable waters.

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Breach of Contract

Once a real estate contract is signed by all parties, it becomes enforceable in a court of law.  Therefore, if someone fails to do what they promised to do in a real estate contract, they risk breaching the contract and could be held to pay monetary damages for any harm the breach caused.  Regularly handles cases involving a breach of contract.  We can advise you on your next steps in the event you suffer a breach of contract by another party.

The Contract

Purchase and sale contracts in real estate are the written agreements used by buyers, sellers, and real estate agents that control the purchase or sale of real estate.  The purchase and sale contract used in California to buy and sell real estate is called the “California Residential Purchase Agreement and Joint Escrow Instructions” or “RPA-CA” for short.  This document outlines your rights and responsibilities when buying or selling residential property in the state of California.

Breach

When one of the parties fails to perform as promised under the RPA-CA, he or she has breached the contract.  Once a breach of contract is established, the party who breached is subject to penalties under the RPA-CA.  For example, if a buyer gives an earnest money deposit but then fails to go through with the purchase, he or she could lose the deposit as a penalty of the breach and may even be subject to further legal action.

Courts will consider several points when determining whether a breach of contract occurred and appropriate remedies for the breach.  One such consideration is whether the non-breaching party can still receive benefit under the RPA-CA despite the breach.  Another consideration is whether monetary damages will compensate the non-breaching party.  Courts will also want to know how much of the contract the breaching party fulfilled prior to the breach and how terminating the contract will affect the non-breaching party.

Remedies

California law outlines what a buyer or seller can recover from a party who breaches the RPA-CA.  If the breach is minor and causes little detriment to the non-breaching party, a court could just require the breaching party to pay for any hardship suffered by the non-breaching party.  But, if the breach is substantial, such as when a seller refuses to convey title or a buyer refuses to pay, then remedies for the breach could be more serious.

 

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 Legal Activities performed by the Solicitors

Solicitor is a person, who deals with varied non-advocacy legal issues. Since one’s life can get saved by a solicitor’s efficiency, he needs to be an educated person. The qualifications and the professional regulations that these people should satisfy should include the following:

Educational Qualification

In order to become a solicitor, one needs to attain a law degree. Thereafter he should concentrate on the completion of the conversion course. In the United Kingdom this is considered to be a legal practice course. The solicitors also need to complete the job training, the duration of which is around 2 years.

Professional Guidelines

The Law society and the trade organization usually represent the solicitors and while practicing, these people have to pay their fees to this Law society. This is indeed a legal concept and needs to be followed in a proper way.

Now, if you are residing in Chester and while staying there something wrong happens there, you need to contact Chester solicitors. They are experienced people and can provide you the best legal advice to sort out the complication, which is bothering you for long.

Solicitors are basically the practicing lawyers, who manage a range of legal matters. Primarily these people were seen to operate in Ireland and United Kingdom and Ireland. In fact, in the U.K., practitioners can hold any one of these two titles- solicitor or barrister.

Major Duties

 A solicitor evaluates information that is relevant to the case, such as medical reports, personal statements given by the clients and applicable legal documents. Their duties also involve studies on authority reports and police. These people are also seen too write letters to their clients for updating the progress report. In fact, when required they talk to the solicitors of the opponent party and tries to settle down the matter in a mutual way. Beside this, solicitors fix appointments with barristers to discuss on the advocacy strategies and court proceedings.

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4 Common Legal Problems When Selling Your House

If you have a piece of real estate for sale, you cannot be short of buyers. This is true about real estate during a property boom. It is also true of real estate during a recession. The truth is that one of the best things anybody can do is to invest in property. In this context, property can mean land, houses, shopping malls, a farmland or a warehouse. In most cases, property prices appreciate and this is why this form of investment is a great idea. People who invest in property are likely to make money from the investment and because of this; you shouldn’t be short of buyers if you have a house for sale.

The simplest way to sell your house is to place a sign in front of the house with the words; “For Sale” boldly written on the sign. Interested buyers see the sign, contact you, and the deal is finalized. You pick up the cash, the buyer gets the house and everybody is happy. Unfortunately, selling a house is not the same thing as selling groceries in a street corner shop. A house comes with a lot of paper work and there are times the homeowner will encounter legal problems in his or her attempt to sell the house. This is why it pays to talk to a real estate lawyer before selling a house.

The great thing about getting a lawyer involved in the process is that the lawyer will give excellent and objective advice. There are times a homeowner may break a real estate law without being aware that he or she is doing so. With a lawyer in the picture, this is not likely to happen. It is important to point out that if you are selling a house, you need to be very honest with the buyer. If you withhold vital information from the buyer, this may be grounds for prosecution.

Joint Ownership

One of the most common problems with selling your home is joint ownership of property. In some American states, community property is recognized between married couples. In the event that one of the partners dies and the surviving partner wants to sell the house, the right real estate law must be followed. If the couple made an estate plan, the terms of that estate plan must be followed in selling the house. In cases where there is no estate plan, the laws of the state will apply.

Monetary Claims

Another problem with selling your home may be monetary claims against a property. The purpose of these claims may be to secure an obligation to a debt owed by the property owner. These claims are called liens and they include mortgages, court judgments and liens for unpaid taxes. The point is that you cannot sell a house without disclosing all the liens to the potential buyer of the property.

Title Issues

Another problem with selling a house can be title problems or a clouded title. In simple English, this means there are unresolved disputes over the ownership of the house. For instance, you have inherited a house from your parents but there are missing heirs with possible claims on the property. This means that the title is not as clean as it should be. You may need to discuss this situation with a lawyer and get things ironed out before selling the house.

Boundary Disputes

Finally, there may be boundary or survey disputes with regulatory bodies or government agencies. There may even be liens for work done on the property. All these are problems and they need to be disclosed before the house is sold. Now, there are property investors who will like to buy houses with title problems at a discount. Their aim is to correct the title problems, sell the house and make profit. For this reason, it makes a lot of sense for the person selling the house to handle the transaction in good faith and tell the prospective buyer the truth. Also a person who owns property or hopes to own property in the future should be knowledgeable in the field or real estate, whether that is through attaining a degree in the field or hiring trustworthy lawyer to help.

 

 
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