When it comes to home foreclosures, Florida is currently one of the hardest hit states with nearly half a million filings currently in various stages of litigation. In response to the state’s Task Force on Residential Mortgage Foreclosure, the Florida Supreme Court is now mandating mediation in all foreclosure proceedings of homesteaded properties. This means that homeowners behind on their payments and lenders seeking to foreclose on mortgages will have to go through a managed mediation process before a final foreclosure hearing or the entry of a default summary judgment can occur. Mediation can only be avoided if the borrower and the mortgagee are in agreement to forgo mediation or if mediation was previously unsuccessful pre-suit.

Arizona Statute Precludes Many Lawsuits by Lenders After Foreclosure
Arizona real estate law firms are seeing many lawsuits filed by lenders against borrowers after foreclosure. In many of these cases, the borrowers can have the case dismissed and recover their legal fees because the lenders’ claims are barred by Arizona law.

Lease Purchase Agreement - Profits and Perils
The practice of lease as a method of possessing the custody of a property without securing its ownership was prevalent in different parts of the world since several centuries. During the post industrialization era, lease purchase agreements were used to procure properties such as factory buildings and machineries. However, in recent times lease as a mode of purchase became quite popular in the real estate industry. The monitory benefits and considerations of buying a house or estate on lease attracted both buyers as well as sellers to this system.

Check the Records Before Buying Your Home
The status of the real estate today requires that every buyer puts some caution before investing huge money on a home purchase. While some people buy a home for actual use, some people actually buy new homes and turn it around as an investment - either by reselling or renting them out. For whatever reason it may be, it is important that you, as the consumer, conduct your form of informal appraisal of the property before actually buying it.

This entry was posted on Monday, January 25th, 2010 at 11:24 pm and is filed under Washington Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.