I was having coffe this morning in the Starbucks, in Aventura, Florida reading a Miami publication on the foreclosure issue and based on my own experience, I was compelled to write about it:
It is certain that almost everyone involved in the foreclosure said that they would not want to go through the process ever again, neither homeowners at risk of losing their homes, nor the banks who loaned them the money nor the judges who must decide on the cases.
The clerks of the court say that more than 135,000 foreclosures could be in Miami-Dade, Broward and Monroe this year - compared to a tri-county total of about 17,500 in 2006.
The flood of applications has exceeded the civil courts and prolonged the pain of exclusion for all: The owners live in limbo, the banks are losing money, with the ripple effects are felt everywhere, condominium associations can't charge fees and municipal governments are losing taxable income.
Everyone is burning in this nightmare.
The bank is not going to leave it in one piece.
Property owners, whether homeowners or investors are not going to leave in one piece.
Not to mention the real estate business and mortgage industry, we are certainly, not going to leave in one piece.
It really looks like it may get a lot worst before we get better.
It would be good if our senators approved a bill that would require all parties to a mediation before the judicial body.
that's my opinion.
Gustavo Blachman
Real Estate Broker.
Terrabella Realty
It is certain that almost everyone involved in the foreclosure said that they would not want to go through the process ever again, neither homeowners at risk of losing their homes, nor the banks who loaned them the money nor the judges who must decide on the cases.
The clerks of the court say that more than 135,000 foreclosures could be in Miami-Dade, Broward and Monroe this year - compared to a tri-county total of about 17,500 in 2006.
The flood of applications has exceeded the civil courts and prolonged the pain of exclusion for all: The owners live in limbo, the banks are losing money, with the ripple effects are felt everywhere, condominium associations can't charge fees and municipal governments are losing taxable income.
Everyone is burning in this nightmare.
The bank is not going to leave it in one piece.
Property owners, whether homeowners or investors are not going to leave in one piece.
Not to mention the real estate business and mortgage industry, we are certainly, not going to leave in one piece.
It really looks like it may get a lot worst before we get better.
It would be good if our senators approved a bill that would require all parties to a mediation before the judicial body.
that's my opinion.
Gustavo Blachman
Real Estate Broker.
Terrabella Realty
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