North Miami Beach, Four Bedroom House for Rent, Near Houses of worship, Remodeled
Four Bedroom House for Rent, Near Houses of Worship, Remodeled, North Miami Beach
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Ismael Gonzalez
South Florida Brokers & Associates
(786) 295-6797 david@arealtyteam.com http://www.arealtyteam.com    
Listed by: South Florida Brokers & Associates |
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Amazing Remodeled Four Bedroom Home for Rent!
Amazing view 1/1.5 remodeled MYSTIC POINTE TOWER 600 CONDO UNIT 2102
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Williams Island unit 1211 For Sale M1472982
Amazing priced unit in Williams Island “The Florida Riviera” is upgraded and has amazing amenities included. Unit has the most beautiful views of the Miami Skyline, The Bay and The Ocean. Located in the famous Williams Island Marina and near Aventura Mall, Shopping, Restaurants and Houses of Worship.
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Floreclosed properties on tenants records, not a problem for landlords
According to the Florida Association of Realtors, in a study (poll) done, in LOS ANGELES – May 6, 2011 – More than three-quarters (82 percent) of independent landlords say they would rent to someone who lost a home in foreclosure, assuming the applicant traditionally had good credit, according to a survey released today by The National Association of Independent Landlords.
“Landlords typically won’t rent to applicants with poor credit – and a foreclosure will absolutely slam someone’s scores. The exception is when they see people who have paid their bills their whole life but lost their job, can’t meet their mortgage and must hand their keys back to the bank,” says Tracey Benson, president of The National Association of Independent Landlords.
Despite recent credit problems, Benson says applicants with a foreclosure can prove good risks, chiefly because they did once own their own home. “These people are used to taking pride in where they live.”
Increasingly, mortgage defaults stem more from lost jobs rather than borrowers who had a toxic mortgage they could not afford. A thorough background check usually indicates whether financial woes are part of a recent spate of bad luck or a life-long trend.
The National Association of Independent Landlords polled 563 members from March 21 through March 25, 2011.
© 2011 Florida Realtors®
We want to thank the Florida Association of Realtors for continually bringing us this information.
Least Expensive 3/2 Water front condo in Aventura
Luxury Aventura_Water View_Condo_Village by the Bay
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Ismael/Isela Gonzalez
South Florida Brokers & Associates
(305) 940-7322 isela@arealtyteam.com http://www.arealtyteam.com
Listed by: South Florida Brokers & Associates |
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Recently created Uniform Guidelines for Foreclosures
The Feds recently adopted guidelines which will apply to Fannie Mae and Freddie Mac backed loans which are possible foreclosures. These changes may take effect as soon as the end of 2011.
The new guidelines will include the following:
Servicers may not apply the “dual track” tactic; that is to say a servicer may not both work with a borrower to avoid foreclosure while at the same time proceeding with a foreclosure.
Loan servicers must contact a borrower as soon as they enter the delinquent status with their loan and as long as both parties are showing “good faith” to resolve the issue a foreclosure may not be started.
Servicers must “formally” review each case before starting a foreclosure.
There will be rewards for fast loan modifications; the lender / servicer will receive $1600 for a loan modified in under four months, those that take longer will have reduced rewards.
If a foreclosure is already in process and the servicer works out a modification the servicer may still be eligible for a reward.
The entire modification process is being simplified with less forms and less red tape.
If you are a borrower / home owner and you are having trouble with your loan payments be sure to contact your lender, be proactive; you may be able to modify instead of allowing your home to go to a foreclosure sale.
Are increasing insurance rates making home ownership unaffordable?
Are increasing insurance rates making home ownership unfordable? The rise in homeowner’s insurance premium is making home ownership more costly. Citizens Insurance the state’s largest insurer can be expected to ask for yet another rate hike.
Homeowners are really starting to feel the pinch across the state. Citizens currently has over 1.3 million policies written with 45% of those policies located in Miami-Dade, Broward and Palm Beach counties. Owners in these higher risk areas of South Florida find themselves having to turn to Citizens as this is the only option they have in many cases. Several private insurance companies will not write wind policies in these counties east of I-95 (obviously a heavily concentrated area).
Citizens had an increases of 10% granted in September 2010 which took effect on most policies in January and February 2011; and policy holders can expect an additional increase to be passed this year of up to 11.2%. Although the maximum hike is currently capped at 10% annually, there is legislation which may go to the floor as early as this week which would increase the cap to 15%.
However, policy holders must also realize that citizens had a rate freeze for three years (2007, 2008 and 2009). Therefore prior to 2010 the last increase was in 2006.
If you are in the market to purchase a home be sure to check the insurance rates you will be paying during your due diligence period. Your realtor should be able to refer an insurance agent.
If you are a current home owner and you are experiencing rate hikes contact your insurance agent prior to the renewal of your policy and explore options to reduce your rate. Some policies may allow you to reduce the amount of insurance for personal property or perhaps they allow you to insure the depreciated value versus the replacement cost of your personal property. In addition, a homeowner could consider raising their deductible to offset costs. Although no one wants a higher deductible when a storm hits or other mishap occurs measuring out your options is always helpful.