Tag: Condominium Association

Foreclosure Defense, Foreclosures, Housing Market Trends

Florida, Delaware, and South Carolina Top List with Most Foreclosures

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U.S. Foreclosure Filings Spike 18%, Florida is one of the nation’s primary hot spots for distressed property activity.

U.S. foreclosure rates are up 18% from a year ago, according to the latest data from ATTOM. There was a total of 42,430 U.S. properties with foreclosure filings, just in the last month. This total includes default notices, scheduled auctions, and bank repossessions.

Foreclosure starts were up 12% from a year ago, while completed foreclosures increased 42%.

ATTOM’s report incorporates documents filed in all three phases of foreclosure: default and notice of default; notice of foreclosure; and real estate-owned or REO properties, defined as properties that have been foreclosed on and repurchased by a bank.

In Florida, 1 in every 2,092 housing units show a foreclosure filing. Florida has a median listing price of $426,000, with homes staying on the market a median of 74 days.

Florida homeowners are feeling the squeeze. Property insurance premiums are still among the highest in the nation. Soaring property taxes, and increases in Condo Association/ HOA fees are leaving many homeowners in financial distress.

What Florida Metro has the most foreclosures?

Lakeland, Florida recorded the highest foreclosure rate in April, with one filing for every 1,221 housing units.

In Lakeland, the median listing price is $335,000 and homes stay on the market a median of 75 days.

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Choosing the right attorney can make the difference between keeping your home or losing it in foreclosure. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives.

If you are facing a foreclosure filing and need professional representation, you can request a complimentary case evaluation through the Kingcade Garcia McMaken website or call their office directly at (305) 285-9100.

Debt Relief, Foreclosures, Timothy Kingcade Posts

Condo Associations Scam South Florida Consumers

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According to the Miami Herald, condo associations are scamming South Florida consumers and residents with exorbitantly high application fees. The Florida state laws permit condo association to charge people a maximum of $100 per person who are applying to rent or buy a unit. The law also states that married couples should be treated as one person and prohibits charges for dependent children or consumers who are renewing their leases. The fee is nonrefundable and covers costs such as background checks and credit checks. However, recent reports have revealed that associations are charging anywhere from $125 to $625 per person.

Further investigation by the Miami Herald also proved that some associations are tacking on additional charges, sometimes several hundred dollars or more, for “move-in fees” or “pet fees.” In fact, the Herald reported that nearly half of all listings in Miami-Dade County charged application fees that exceeded $100.

In addition to the cap on application fees, the Florida Condominium Act also prohibits associations from charging fees that exceed $100 for transfers such as sales, mortgages, leases, sublets or any other unit transfers.

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.