Parkland Parrot

Archive for the 'Short Sales' Category

Florida Courts Require Mediation Before Foreclosing

2010 is here, and the Florida court system has announced that banks and lending institutions MUST mediate before foreclosing on a real estate home.  I wrote an earlier article: Could Home Foreclosure Mediation Be Mandatory Soon? and now the court system in the state is intervening.

Now, both the lenders and borrowers on homesteaded Florida properties will have to meet at the bargaining table.  This court order, carried out by Chief Judge Peggy Quince, guarantees an audience for distressed homeowners and the lending institutions to discuss all available options from loan modifications or short sales before foreclosure.

Banks will be responsible to pay the court costs for each potential foreclosure, which will cost them approximately $750 each. Judges are hoping that this new requirement will help reduce the thousands of foreclosure cases taking over the court systems.

Distressed homeowners must be referred to counseling before mediation.  The mediation must take place no earlier than 60 days and no later than 120 days after a foreclosure suit is filed.  Also, non-profit organizations, such as the Collins Center for Public Policy, must be provied with mediators specially trained in mortgage foreclosure.

According to the Mortgage Bankers Association in the third quarter of 2009, Florida’s 12.74 percent rate of home loans in foreclosure was the nation’s highest. As a result, 441,440 Florida home loans were in foreclosure at that time.

Hopefully, this new policy will help distressed homeowners remodify their loans or agree to do a short sale.  It is important that homeowners call their banks and speak with a real estate agent along with a real estate attorney.  Please give us a call at 954-609-0591 if you are in need of assistance.

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.

Tags: florida home mediation, florida real estate mediation, foreclosure mediation, home mediation, real estate mediation, short sale mediation, south florida real estate mediation

2 Of Our Parkland Pine Tree Estates Listings Under Contract

We did it again!! This week two of our Parkland Pine Tree Estates listings went under contract.  In recent months, we have seen an increase in buyer activity on our Parkland listings, especially in Pine Tree Estates.  Many buyers are seeing the value in living in a non-association community.  Most of the homes in Pine Tree Estates are on 1.09 acres.

6213 N.W. 63rd Way, Parkland, FL 33067

Our 5/5 home that is approximately 5,200 square feet under air conditioning listed at $899,000 went under contract yesterday.  This home features a new kitchen and bathrooms and a separate guest suite and recreational room. Click Here For More Pictures & Details

5741 N.W. 66th Way, Parkland, FL 33067

After many months of negotiating with SunTrust Bank, we FINALLY received a written approval on our 3+ Acre Pine Tree Estates listing on 66th Way that was listed at $500,000.  This equestrian home features 8 bedrooms, pool, and over 3 acres of land that can be subdivided into 2 parcels.  Click Here For More Pictures & Details

To view more information on Pine Tree Estates as well as see all of the available inventory, please click here.  We will soon be listing a new Pine Tree Estates property, and The Squawk will certainly post on the Parkland Parrot website.  Have a great weekend!

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Pine Tree Estates or in another Parkland community, please give us a call at 954-609-0591 or send a note to the squawk.

Tags: parkland homes for sale, parkland news, parkland pine tree estates, Parkland Real Estate, parkland real estate agent, parkland real estate expert, parkland real estate listings, parkland realtor, Pine Tree Estates