Florida Bar Issues Ethic Alert

With the proliferation of loan modification companies offering services to help a homeowner who is in pre-foreclosure, there will always be scams. Some companies are legitimate. Attorneys are the only ones legally to charge a fee.

Read this article from the Florida Bar which sent out an ethics alert to all Attorneys warning them that they cannot pay a referral fee to non-lawyers.

Bernake Announces Steps to Shake Economy

When is this going to end? Glenn Beck from Fox news said recently that this is not an economic crisis. He said it is a confidence crisis. What is it going to take to get back on track.  This article states that the recent loans issued are half refinances and half purchases. However, the confidence to absorb the massive amount of inventory is at a low on top of the higher unemployment. Foreclosures are only going to increase in the next year especially here in Miami.

Technorati Tags: Foreclosure, Miami, refinance

Miami is Top in Mortgage Foreclosures

According to Mortgage Bankers Association Chief Economist, only 40% of mortgages in the state of Florida are current. That means that six out of ten are behind on payments. I do not see the bottom in the next six months.