Beware of Florida House Bill 87

After the 2008 financial meltdown, the real estate market in Florida was hit hard – so hard that more than 7 years later we haven’t fully recovered; it is still not easy to sell your house without having to list it on the market for months.

The housing crisis was accompanied by massive layoffs and high unemployment. When homeowners realized their home values were cut in half, many could not continue to afford paying their monthly mortgage dues. The situation got so bad, lenders started to foreclose so many homes, they didn’t have the resources to process all the paperwork.

What is The House Bill 87?

House Bill 87 was introduced to alleviate the backlog of foreclosure proceedings and expedite the foreclosure process. This was detrimental for homeowners were struggling to make ends meet in the first place.

This bill put homeowners in a difficult situation, it required them make the decision of either selling their home fast or loosing the house altogether.

In many cases, a fast sale could make enough money to pay the remaining mortgage balance. In other cases, the proceeds would not cover even that. In that case, the bank would have to approve a short sale, a process where the bank accept a loss on the loan for the house.

How Can We Can Help

If your property is facing foreclosure, you may need some cash in order to pay up the remaining mortgage balance. We can help you come up with the money you owe in order to avoid a foreclosure and a hit to your credit.

Statistics nationwide suggest that, although the market is recovering in many states, bank repossessions have increased by 11% in the past year alone. What is more shocking is the number of people keeping the problem to themselves, where they could have reached out for help. Well, some developments in the property market, such as the passing of the House Bill 87, has made it very important to act fast before loosing your house.

If you wish to sell your house fast in Florida, we can help. Our goal is to help you stay in your home; if that is not possible, we’ll try to get you as much money for your home so you don’t walk away empty handed.

Sometimes, selling your house fast and avoiding completely loosing it to the bank is the most reasonable course of action. To get the help needed to start off, you may call us at 1-800-234-4361

The problem is still rearing its ugly head for sellers who need the cash badly – and they may end up taking huge losses, and even losing their homes altogether.