struggling homeowners Archives

Credit, Foreclosures, Timothy Kingcade Posts

Refinance with HARP before Mortgage Rates Increase

Posted on March 19, 2015by Admin

The Home Affordable Refinance Program (HARP) is a program that was set up in 2009 to assist struggling homeowners in refinancing their homes- reducing mortgage payments by an average of $3,000 a year. It has also allowed homeowners to pay their mortgages off faster. Taking advantage of the benefits HARP has to offer can reduce your monthly mortgage payments and pay your mortgage off in less time.

How do you know if you qualify for HARP? If your mortgage is $625,000 or less, you most likely qualify for the program. HARP was created by the Government as a way to help the economy recover from the recession. Homeowners who have refinanced through HARP have saved an average of $250 a month. But you must act NOW! These valuable benefits are set to expire at the end of this year.

Click here to read more about how to reduce your mortgage payments through HARP.

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.

Foreclosures, Timothy Kingcade Posts

$26 Billion Deal signed to Aid Homeowners and Eliminate Fraudulent Acts by Lenders

Posted on February 13, 2012by Admin

On Thursday, February 9, President Obama along with other government officials announced the $26 billion mortgage plan that is said to be the first major step in the right direction for America’s struggling housing market. All 50 states and the five major banks, Bank of America, JPMorgan Chase, Ally, Wells Fargo, and Citigroup agreed upon the plan. There is anticipation that further deliberation will lead to all nine of the major lenders becoming involved in the plan, which would increase the deal to $30 billion.
The majority of the money, $17 billion will go exclusively to aid homeowners who are underwater on their mortgages. State and federal authorities will receive $5 billion to create programs throughout the country to meet specific needs of Americans. Of the last $4 billion, $3 billion will go to the refinancing for those who are eligible to get a portion of their debt reduced and the last billion will be for the Federal Housing Administration.
The plan is expected to not only benefit the millions of Americans who have lost their homes since 2007, but it also creates a sense of relief for mortgage lenders as well. The last week alone, shares in Bank of America have made a 5 percent gain. The plan will also force banks to take a greater responsibility to ensure their mortgage lending practices are done legally in the future.
To read more on this story visit:
http://www.nytimes.com/2012/02/09/business/states-negotiate-25-billion-deal-for-homeowners.html
Choosing the right attorney can make the difference between whether or not you can keep your home. A well qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. 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, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Another Setback for Struggling Homeowners

Posted on October 28, 2011by Admin

Florida’s foreclosure mediation program, designed to settle residential foreclosures and sort through the huge backlog of cases, is scheduled to end due to a recent ruling by a judicial committee. The program, which mandated that homeowners attend a mediation meeting with their lenders before a foreclosure case goes through the courts, began in late 2009. This ruling comes as another setback for struggling homeowners, placing them at a greater disadvantage against the government and big banks. A report presented to the high court said three main factors led to the program’s demise: borrowers not trusting the program; lenders not willing to settle cases in mediation; and officials not publicizing the program. This could not come at a worse time, as Florida has a backlog of about 350,000 foreclosures and more to come.

http://www.miamiherald.com/2011/10/24/2469820/task-force-end-mandatory-foreclosure.html

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, P.A. website at www.miamibankruptcy.com.