This sentiment is quite unfortunate.  I often hear people who are feeling the financial squeeze and emotional toll when faced with foreclosures, that they tell me they're ready to throw the towell and let the lender take the property. 

Their argument becomes one of desperation, stating that they no longer care if their credit gets worse - "after all...how worse can it get?" they say.

So, when you say you've decided to let it go in foreclosure, do you mean you intend to do nothing and just let it go?  Well, consider the following:

If you're defaulting on your mortgage, even if you have two or more loans, I believe (take it with a grain of salt - I don't know how the FICO algorithm will ultimately score this), stopping payments on both will not worsen the effects to your credit score more than the foreclosure will. 

I was dismayed at how much money I was spending on my homeowners insurance, as I am sure many others are as well. Recently I read about insurance mitigation. This is something I had never heard about, so I looked into it a bit. Basically, many of us are paying way too much for our insurance and just don’t know it, as I was.

If your roof was put on after 1994, you qualify for a discount. If you have adequate hurricane shutters you qualify for a discount. There are many other factors that qualify you for a substantial discount as well.

In my last blog post I wrote about my son moving back down to Florida with his family. It has been a few weeks now and I have to say, life is definitely more interesting!

When my son Nick first moved back to Hollywood, he and his family stayed with my husband and me until we could get one of the rental properties we had purchased in the Fort Lauderdale area ready for them.  Since we were going on vacation soon, time was of the essence; we wanted to have them out of our house and into their home prior to our trip.

Thanks to the housing bill passed on 7/30/08 we should see an end to the mortgage fraud and predatory lending that has plagued the country. Indeed, South Florida has had the highest amount of corruption in the mortgage industry.  Some mortgage brokers took advantage of buyers by charging outrageous fees and high pre-payment penalties. The state actually allowed felons to get their mortgage brokers licenses. Thank goodness those days are gone!

Thanks to the new bill passed into law on 7/30/09 and the changes in RESPA, the consumer protection act, these things will no longer happen.  

As a unit owner in a large condominium, as well as a board member; I have realized that condominiums present great challenges in 'going green', or at least implementing as many environmentally sensivtive products and procedures during the construction phase or repairs/improvements/retrofitting, etc. However, I try to see the other side of this drawback, and that is if you are able to implement a handful of 'green' products or procedures, the exponential effect can be much more considering the nature of the condominium. Meaning, you are not affecting 1 household, rather 300 households (or however many units); and that can really add up to some serious monetary savings, reduced carbon footprint, water and energy conservation, better indoor air quality, etc.

Contact: Sean Greco, seangreco@buybeach.com, 786-877-9220

Russian billionaire’s purchase of French villa sets new world record for most expensive home -- $750 million!

Most expensive home on the market in Miami Beach area (includes Fisher Island) -- ($30 million)

The VA loan is a wonderful option for our veterans.  The people who have proudly served defending our country deserve a helping hand, and the VA is working hard to try to extend their programs to assist as many veterans as possible.

The VA has the only 100% mortgage currently available on the market! Additionally the seller can contribute up to 4% of the buyers closing costs, making this a very low money down government program.

The maximum VA loan has been increased to $417,000 for both Dade and Broward Counties, so whether you are looking to live in Miami, Fort Lauderdale or somewhere in between, there will be a loan that may be just perfect for you and your family.

FHA loans fell out of favor due to the relaxed rules of conventional loans in the past several years.  FHA had many rules that made it difficult for homebuyers, and more expensive for home sellers.  Those days are gone!

FHA is now going to be the loan product of choice for many people looking to buy homes in South Florida and across the United States.

The down payment requirements are favorable to today's buyers, requiring buyers to have a down payment of only 3.5%, and the down payment can be a gift from a relative.

Sellers can pay up to 6% towards the buyer's closing costs and pre-paids.

South Florida Real Estate is ranked among the hottest markets for real estate investment and a top destination for U.S. and foreign buyers. Not to mention great year-round weather for recreation and sports: golfing, swimming, sunbathing, snorkeling and scuba diving. From Miami to Fort Lauderdale South Florida has it all!

On 10/01/08 seller funded down payment assistance programs will be going away due to the new bill signed into law on 7/30/08.

If you want to purchase a home and have the seller contribute up to 6% in money for your down payment you need to act quickly.

Currently you can receive 6% towards closing costs and an additional 3% in down payment assistance, for a total of 9% at closing!

This weekend I am participating with the Hollywood Jaycees in a Back Pack Give Away. We will be giving out 500 backpacks with school supplies and a $10.00 Commerce Bank Savings Certificate to children under 18. In order for the children to receive the merchandise they must be in attendance.

We have a concession stand opening at 6:00 and will be selling hot dogs, soda, water and popcorn for a nominal fee.

There will also be free face painting and balloon twisting!

At 7:00 we will be rocking out to a local Classic Rock Band called Crisis.

So come on out with your family and enjoy all that South Florida has to offer, I am looking forward to seeing you all there!

Hollywood is conveniently located between Ft. Lauderdale and Miami!