Tag: Agentes inmobiliarios de Orlando

“Florida Hardest Hit” program makes Qualifying for foreclosure prevention easier than ever

Publicado el por Jenny Zamora

 

“Florida Hardest Hit” program is helping Orlando homeowners in a big way.

 

Florida Hardest Hit is part of a federal initiative to help states devastated by the housing crash. Last week state housing officials announced changes to a $1 billion foreclosure prevention program that will make it easier for qualified homeowners to get more money.  As an Agente inmobiliario en Orlando this makes me happy because although not everyone will qualify for this program, it will be a savior for many Orlando homeowners.

The program offers money to cover mortgage payments for homeowners who are unemployed or in jobs with salaries below what they need for basic living expenses. Funds also are used to bring delinquent mortgages current for people who have returned to work or found higher-paying jobs.

One of the major new changes to the program is that homeowners that apply to Florida’s Hardest Hit Fund don’t have to be at least 180 days late on their mortgage to get qualified. Also, it will no longer be a requirement that loans have to be originated on or before Jan 1, 2009 and If you were formerly denied by the program you will now be able to reapply.

Keep in mind that these changes must be approved by the U.S. Treasury and likely won’t be effective for at least six to eight weeks.
One of the proposed changes is that unemployed homeowners can receive as much as $24,000 back to pay their mortgage over 1 year. Right now it stands at $12,000 which is a huge difference. Orlando homeowners also may be eligible for as much as $18,000 to bring past-due mortgages current. Although the program only began in April 2011, homeowners are already complaining that the Hardest Hit requirements were too restrictive.

 

Florida Hardest Hit has helped more than 5,540 homeowners statewide.

 

“Florida Hardest Hit” current qualifications for an eligible Orlando homeowner:

 

*Must be a Florida resident

*Must occupy property as primary residence (the property cannot be vacant, abandoned or rented)

*Borrower/co-borrower must be unemployed or underemployed through no fault of his/her own, which makes the first mortgage unaffordable

*Must have documented total household income at or below 140% of the area median income (AMI), adjusted for household size

*Must have an active checking/savings account that can be debited by the ACH method of funds transfer

*May not have unencumbered assets of $5,000 or more, or three times the current monthly mortgage payment (whichever is greater)

*Cannot have a bankruptcy that has not been discharged or dismissed

*Cannot have been convicted of a mortgage-related felony in the last 10 years.

To learn more about the program, contact an Orlando Realty Expert 

 

Ask me anything, I’m here to help.

Orlando Real Estate Broker

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Orlando Realty’s Weekly MLS Market Report

Publicado el por Jenny Zamora

Orlando Realty’s Weekly Report for Home Buyers and Sellers

On behalf of Orlando Realty and our entire team of Orlando real estate professionals, we are proud to introduce a weekly report of market statistics of what’s happening in the world of Orlando real estate. This report provides up-to-date information to help educate Florida Home buyers and Sellers so that they can get a feel for the market and make educated decisions when it comes to buying or selling Orlando Real Estate.

Our research is done by our Los mejores agentes inmobiliarios de Orlando using Florida’s Multiple Listing Service.

Orange County from 4/27/2012  through 5/4/2012.

*  Number of Short Sale Properties Listed –                      83

*  Number of Short Sale Properties under contract-       187

*  Number of REO Properties [Bank Owned] Listed –   384

*  Number of REO Properties under contract-                  126

*  Number of Regular listings (By Owner)-                        205

*  Number of Regular listings under contract-                 203

*  Total Homes Sold in Orange County-                                 397

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Hunters Creek Florida Voted one of America’s Best Neighborhoods!

Publicado el por Jenny Zamora

Hunters Creek, FL comes in at number 21 for best places to live in the U.S.

Twenty-one is a pretty good number considering all the great places there are to live in the entire US. As a resident and business owner in Hunter’s Creek, I’m very proud of my neighborhood, but Hunters Creek Real Estate has definitely had its share of ups and downs. When the crash of 2007 happened, houses that were worth 500k were all of a sudden worth somewhere in the low 200’s, I know this all too well because that’s exactly what happened to me.

Our house actually appraised at 580k in 2006 and ended up all the way down at 220k appraisal value in 2008. Although that was a hard fact to face, we really loved the beautiful and kid-friendly neighborhood, and that was priceless to us.

The Parks of Hunters Creek

Having two young boys, one of the biggest attractions for us was all the clean and perfectly manicured parks. You can definitely tell that when they started building Hunters Creek 25 years ago, they had young families in mind all the way. There are playgrounds, soccer fields, baseball fields, football fields, basketball courts, tennis courts, and racquetball courts for residents to enjoy. Hunters Creek also has youth sports programs for just about any sport you can think of for children wanting to participate. There are also gazebos and community centers that can be used for private activities.

Shopping and Restaurants

Hunters Creek is conveniently located close to several good restaurants right there in The Village. Wherever you live in Hunters Creek, you’re only a few minutes away from a healthy selection of family restaurants, pubs and there’s even a Farmers market. If it’s a mall your looking for, try going to the Loop. It’s just minutes away and it has a wide array of stores as well as a movie theater.

Sendero Shingle Creek

 

Over the years we’ve seen enough animals in our backyard to start a zoo. We’ve seen deer, turkeys, river otters, bobcats, foxes, wild boar, bald eagles, sandhill cranes, and owls just to name a  few. With ponds everywhere, most residents are able to go fishing, kayaking, or canoeing without even having to drive. Although we’ve seen small alligators in the water, the larger ones are removed by animal control and taken to Gatorland.

Shingle Creek Trail is a beautiful conservation area that consists of hiking trails, bike paths, lakes and there’s even a

trail that travels along the side of Shingle Creek where people go kayaking, canoeing, and fishing. We often go bike riding through the trails because my boys love it.

Hunters Creek Real Estate is in High Demand

Agente inmobiliario de Hunters Creek

Being an Orlando real estate broker I can tell you that there is a serious demand for houses in Hunters Creek right now.  It’s also a good time for people that want or need to sell a property because of the steadily increasing property values. The top-rated schools in addition to everything else I mentioned make Hunters Creek one of the most desirable neighborhoods in Orlando. The good news is that you can still find a great deal in Hunters Creek.

If you’re ready to see some great homes in Hunter’s Creek, feel free to contact me on my Cell @ 407-902-7750 or you can email me here.

ORC IS HUNTER’S CREEK BASED REAL ESTATE BROKERAGE

 

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Orlando Short Sale Closed After 3 1/2 Years Battling with Lenders!

Publicado el por Jenny Zamora

The longest Orlando short sale in our company history.

I had just had to share this story about an Orlando short sale that we’ve been working on for well over 3 1/2 years.

We started this file in December of 2008 It was a pretty common story; She had a 1st mortgage with GMAC for 434k and a second with Bank of America for 116k and she also owed her HOA $5,000.00 at that point [now $15,000.00].  The big problem was that even though she owed about 570k since she purchased in 2006, her house was only worth 180k at the point when we took her on as a client in 2008.

Throughout this process it was a matter of getting all the stars to line up at once , which when your dealing with 3 different debtors is no easy task. Buyers get tired of waiting, lenders wanted new bpo appraisals done every 6 months, the HOA didn’t want to budge and we had to stop her Orlando foreclosure several times.

No Attorney Necessary.

In the past three years we’ve had 7 solid contracts, 9 bpo appraisals and we stopped the foreclosure sale date a total of 6 times.s, we eliminated her debt. We closed last week with a cash offer for 200k and to top it all off, we got the lenders to give her $7,000.00 back at closing.  By the way, she never once went to see an attorney which means probably saved another 7 to 10 thousand dollars.

Doing the short sale was the best decision for her.

In the end my client got to live rent free for 3 1/2 years and was able to save up some money and turn her life around. We found her a nice rental in Downtown Orlando and she now lives comfortably within her budget. How’s that for a bailout plan?

It’s true that we had to work work many times harder than a typical short sale file just because of constant updating of expired short sale docs  alone, not to mention all the buyers we lost along the way because they got tired of waiting on an approval.

However, when you’re in the short sale business, there is no greater satisfaction than to know that you’ve helped someone solve a huge problem in their life and get a fresh start.

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Orlando Short Sales Overtaking Foreclosure Sales

Publicado el por Jenny Zamora
 For the first time Orlando short sales are becoming more popular than sales out of foreclosure.  As a matter of fact, in Florida short sales have outnumbered bank-owned home sales since July.
 
Lenders are favoring short sales more and more these days, with good reason. Short sales have proven to be faster and more lucrative process than foreclosure. Short sales accounted for 24 percent of all home sales nationwide while foreclosure sales represented 20 percent.
   

Top 3 reasons why lenders favor short sales over foreclosure sales

 
•    Taking a home to foreclosure is a long, drawn out process and can take up to a couple of years sometimes. Even then, there are soo many things that can go wrong if things aren’t processed correctly by the attorneys, which happens more often than you would think.
 •    Lenders can avoid paying a ton of money in legal fees. You can’t foreclose on a home without attorneys. I’ve seen attorney’s charge as high as $15,000.00 for  1 single foreclosure case.
 •    Better sales prices on Orlando properties. Statistics show that banks get higher and better offers when they short sale as opposed to the foreclosure sale. Many times it won’t even sell at the auction and it ultimately becomes the banks problem…Again!
 
In the end it’s all about the almighty dollar.
 
Lenders are finally realizing that Orlando short sales are a win for everybody. Mortgage companies are even offering large cash incentives to homeowners who agree to do a short sale. I’ve gotten some of my clients up to $20,000.00 back at closing from their lender. How’s that for a bailout plan?
 

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