Homeowners who just walk away

Thousands of strapped homeowners are simply abandoning their homes before foreclosure even begins. The stories of three families illustrate the personal and financial trauma.

U.S. Democrats Seek Foreclosure Relief

The U.S. Senate is scheduled to vote April 1 on a Democratic foreclosure relief bill that would provide $4 billion to communities to purchase foreclosed homes, increase disclosure requirements for subprime mortgage loans, and pay for debt counselors so homeowners can negotiate with lenders.

However, Republicans are likely to oppose the bill if it includes a provision to rewrite the bankruptcy code to allow judges to cut interest rates and reduce what borrowers owe on their home loans, which they say would limit what lenders can make on loans.

Democrats say the Federal Reserve recently came to the aid of Bear Stearns, in guaranteeing questionable mortgage-backed investments among other assets, and now something should be done for homeowners.

"The federal government has provided assistance to Wall Street, now Congress must turn its attention to Main Street," insists Senate Majority Leader Harry Reid (D-Nev.).

Source: Associated Press, Andrew Taylor (04/01/08)

Buyers: Should you wait for the market bottom?

The housing market will continue its downward spiral, forecasts say, and that means opportunities for buyers. But waiting for the market bottom may not be the smartest strategy. Here are 5 reasons to buy now.

Foreigners get `upper hand' in S. Fla. housing market

Florida, by far, leads the U.S. market, accounting for an estimated 26 percent of all foreign purchases for the year period that ended in April 2007, the National Association of Realtors reports. Within the state, Miami and Fort Lauderdale are the top markets.

Getting a home loan getting harder again

Chastened and now cautious lenders are demanding much bigger down payments to shield against losses in the South Florida market.

The basics of renters insurance

Thought you were covered by your landlord's insurance? Think again. You'll need renters insurance to protect your belongings from perils including theft, vandalism, fire and falling objects.

Florida approves property tax cut

Facing a slowing economy and years of rising property-tax values, Florida voters overwhelmingly approved a property-tax amendment.

Facing foreclosure? 9 options

If you're in danger of falling behind on your mortgage, or if you're already delinquent, it's important to know what's ahead and what your options are. Usually, the faster you move, the more choices you'll have about your financial future. Read the whole story.

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