Foreclosure Filings Increase 20%

Nationally, October saw a large increase in foreclosure filings from the previous month. Miami was in the top 5 cities nationally.  Some homeowners may be unaware that mortgage lenders have instituted forbearance programs and loss mitigation departments to help struggling homeowners due to COVID-19.  Please contact Ed Curry at 941-799-9440 if you are thinking ofContinue reading “Foreclosure Filings Increase 20%”

Forbearance Plans Drop to New Low

Forbearance, (when mortgage lenders allow you to delay payments for a specified time) rates are at a 7 month low.  Many homeowners took advantage of forbearance plans in the early Spring due to COVID-19.  Mortgage forbearance plans make up almost 6% of all mortgages which is the lowest rate since April when it was 3.74%. Continue reading “Forbearance Plans Drop to New Low”

Will Mortgage Rates Rise After Election?

This year mortgage rates reached an all time low for home buyers.  After the 2016 election rates jumped from 3.74% to 4.24%. Many economists agree that mortgage rates will hover around 3%.  The Federal Reserve has been keeping the Federal Funds Rate near zero which indirectly helps mortgage rates stay low.  Additionally, there is stillContinue reading “Will Mortgage Rates Rise After Election?”

Delinquencies Place Two FL Cities in Top 10

A large number of FHA mortgage delinquencies have placed Orlando (9) and Tampa (10)  in the top ten cities in the nation.  This could become a serious situation as COVID-19 unemployment benefits expire and unemployment remains high.  Nationally, in September over 3.5 million FHA mortgages were enrolled in a forbearance plan. Ed Curry has earnedContinue reading “Delinquencies Place Two FL Cities in Top 10”

Americans Are Saving More Money $$$$

A recent survey of 5,000 Americans indicated that people are saving more than before the COVID-19 outbreak.  Almost half of those surveyed said their spending has decreased.  People working from home are saving on commuting costs and that may be one of the reasons.  Additionally, with millions of unemployed, people are feeling a need toContinue reading “Americans Are Saving More Money $$$$”

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