Florida Primary Focuses Nation on State’s Housing Bust

by Isaac Benmergui, Esq on February 3, 2012

Florida home owners and realtors had to cringe when they heard Mitt Romney purport that the government should allow foreclosures to run their course without intervention. The opinion comes at a time when some Florida markets are starting to recover and homeowners and mortgage lenders look for available remedies that enable borrowers to retain their property.

A recent Gallup Poll conducted by USAToday shows 58 percent of Americans feel the government can, and should, do more.

Governor Romney suggested a course of action that has been underway for some months in South Florida, and that is investors buying up homes, making repairs and turning the homes into rental properties. Individuals as well as small firms have been doing this with great success, as the revitalized rental market offers an alternative to homeowners using short sales or simply walking away from a home mortgage too far under water. The effectiveness and health of the new rental market; however, could hinge on the banks and the shadow inventory of homes already foreclosed upon that have yet to come to market.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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