Strategic default is a conscious decision to walk away from a mortgage that is underwater. These defaults take lenders by surprise as borrowers often have excellent credit records and meet all of their other financial obligations. The point of a strategic default is to cut losses on a home that has substantially depreciated in value and negative equity that can never be recovered. Considered as a viable strategy for managing troubled assets in an era of record foreclosures, high unemployment, and government bail-outs, millions of Americans are considering strategic default or strategic foreclosure. With almost 28 percent of all mortgages underwater, a growing number of homeowners are contemplating this strategy. While borrowers are contemplating strategic default, lenders are seeking pr... 12/04/2010

Fort Lauderdale Home Design and Remodeling Show - Dec 3-5, 2010, Fort Lauderdale, FL The Fort Lauderdale Home Design and Remodeling Show opens today.  There will be tons of ideas with regard to how to use color in your home, home improvement and fresh decorating ideas all in time for the holiday season.  For more information please go to www.homeshowspecials.com.   Where:  Broward County Convention Center When:  Dec 3-5, 2010 Time:   Friday 4 pm - 10 pm           Saturday 11 am - 9:30 pm           Sunday 11 am - 7: 30 pm View Larger Map 12/03/2010

During the past 20 months Las Olas Grand closed sale prices ranged between $300 and $400/square foot; however, with the sale in September at $222/square foot-the historical low-the bottom may have been reached at Fort Lauderdale's premier downtown condo.  Both October's sales closed higher ($356 and $279/square foot).  There are no pending sales, and while the 25 current listings average $423/square foot, the three most recent listings average $329/square foot. 12/02/2010

While the term "Black Friday" has been around for more than four decades, the term "Cyber Monday" has only been around five years. In a few short years, its impact on the retail community has been undeniable. While nearly 14 million Americans are still paying off credit card debt from last year's Christmas spending, retailers and the Federal Reserve are praying that Black Friday and Cyber Monday will trigger resurgence in an otherwise troubled economy. Taking credit for the term Cyber Monday, the National Retail Federation (NRF) discovered a trend of online shopping the Monday after Thanksgiving. Since 2005, it has become part of the pre-Christmas retail vernacular, and according to some studies has even surpassed Black Friday in terms of popularity. According to the online research fir... 11/27/2010

Reverse Mortgage Counseling, is it really necessary?  Some clients of mine complain that they have to sit through the counseling even though they fully understand the program.  I believe this counseling is highly beneficial.  It takes away the possibility that a Fraudulent Mortgage Broker will take advantage of a senior borrower.  Below are some details about the current changes to the counseling process.   The Reverse Mortgage Counseling has become more in depth and complex, but this is better for the borrower.  In the past, the Reverse Mortgage’s mandatory FHA Counseling was nothing more than the person spending 30 to 45 minutes explaining how the program works.  This never told the counselor if the borrower actually knew what they were getting into.   I am glad this change came about... 11/25/2010

I only want to spend $50K, be 2 blocks from the beach, & no more than $200.00 in condo fees...here in Fort Lauderdale, Florida.  Fort Lauderdale, Florida east of Federal Highway (US1) has HELD IT'S OWN during this financial disaster the past 2 years. Many other places in the United States and in west Florida have seen the melt down. We have great properties, however, most 2 bedroom/ 2 bathroom condo's are at a minimum (Ocean view) still at $300,000. DON'T BE CONFUSED, PLEASE! Our South East Florida market, east of Federal Highway (US1) and most certainly EAST of the A1A have NOT lost value.  After all, there are only so many properties on the beach. The beach front condo's have less that .01% REO's and Foreclosure properties. South East Florida on the BEACH IN Fort Lauderdale, Lauderdal... 11/21/2010

Following an ABC News 20/20 investigation into the Better Business Bureau's controversial grading system, its national president apologized to consumers and business owners for "errors," while regional leaders met to discuss grading reforms. Known as the nation's top consumer watchdog group, the BBB is accused by business owners and the Connecticut Attorney General of running a "pay for play" scheme in which A plus ratings are awarded to those who pay membership fees while F ratings are used to punish non-members. On its website, the Better Business Bureau indicated that its executive committee gathered to discuss "ways to improve the BBB's rating system." According to media relations manager Alison Southwick, the organization is "considering a critical course of action which requires f... 11/20/2010

Can I Purchase a Home Using the Reverse Mortgage?  ABSOLUTELY! This program is called the Reverse Purchase or Reverse Mortgage for Purchase.  The program began at the beginning of 2009, and believe it or not very few people know it exists and those that do know about it don’t fully understand how it works.   Here is how it works for a current owner: Let’s start with the example of the traditional Reverse Mortgage, which is done when someone already owns the home, has equity, and either wants to cash out or pay off their current mortgage without requiring future payments:  So John and Sally are 62 years old.  Their value is 200k, and they owe 100k.  Based on their age they have a benefit (or available loan amount) at approximately 60% of their value, which is 120k in this example.**  SO ... 11/18/2010

Attention is focused on new financial regulations enacted as part of the Dodd-Frank Act. Earlier this year, the Federal Trade Commission announced final rules requiring creditors to provide consumers' with a "risk-based pricing notice" when granting credit on less favorable terms than it provides other consumers. To assist consumer understanding of these new rules, the U.S. Federal Reserve has unveiled an online guide to credit reports. This straight-forward guide includes information on credit reports and credit scores, how they are utilized in credit granting decisions, unsolicited credit offers, credit repair and how to protect your personal information from fraud. Released on Wednesday, the "Consumer's Guide to Credit Reports and Credit Scores" is meant to complement consumer-protec... 11/13/2010

Recent reports indicate that approximately 462,339 foreclosure cases were pending in Florida as of June 30. Following foreclosure moratoriums by Ally Financial, Bank of America, J.P. Morgan Chase, and PNC Bank, the settlement of deceptive marketing charges by Wells Fargo, and the Attorney General's investigation into faulty foreclosure practices at the Florida Default Law Group, the Law Offices of David J. Stern, P.A.; the Law Offices of Marshall C. Watson, P.A.; and Shapiro & Fishman, LLP, investigators have turned up a new problem. Process servers are now alleged to have filed false affidavits in support of personal service in foreclosure matters. Foreclosure defense attorneys claim to have documented a number of cases where process servers filed false affidavits. While investigating ... 11/06/2010

Las Olas River House As of 11/5/2010 there have been 22 condos sold at the Las Olas River House in Fort Lauderdale in 2010. Ranging in price from $355,000 for a 2/2 on the 16th floor to $3,000,000 for a 4/4/2 on the 42nd floor.  The average condo sold at the Las Olas River House in 2010 was 2.45 bedrooms with 2.73 bathrooms and sold for an average of $718,932. Days on Market varied greatly ranging between only 7 days to 971 with an average DOM of 253. Built in 2004 & 2005 the River House sits adjacent to Las Olas Boulevard and residents can easily walk to restaurants, shopping & nightlife. With a world class resort style gym, swimming pool, jacuzzi and putting green, the Las Olas River House exudes luxury downtown Fort Lauderdale living. By: floridahomesforsaletoday.com 11/05/2010

Fort Lauderdale Realtors often get the call from prospective Fort Lauderdale Real Estate buyers seeking a property that they can use occasionallyand rent out to defer the cost. The Fort Lauderdale Real Estate market is a perfect market to own rental property because being it is the"city by the sea" you have demand for annual rentals, seasonal rentals, both furnished and unfurnished. The expectationis that a Fort Lauderdale Realtor rents out the property a few weekends a year you can just about pay for itself. Unfortunatelythis is far from that simple. The first issue to be aware of is that most Fort Lauderdale condominium buildings have very strict limitations on the number of times per year, and the minimum length of stay for all tenants. The most common of these rules is no rentals sh... 11/04/2010

Say it isn't so! Is it true that the Broward Country Historical Commission is to be dismantled due its entire $275,000 budget being cut?  In a recent move by the County, the funds to ensure the preservation, gathering and display of County history have become the victim of a budget shortfall.  The Historical Commission barely got comfortable in their newly renovated West Side School facility in Fort Lauderdale's historic Sailboat Bend neighborhood.  The Commission moved into the school just this past February after an extensive $2.4 million dollar renovation.  A full time staff of 3 will lose their jobs as a result.  The school renovation was part of a larger effort to revitalize this important neighborhood.  Nearby Artist Lofts condos were also built and are occupied in recent years an... 11/03/2010

Following foreclosure moratoriums by PNC Bank, Bank of America, J.P. Morgan Chase, and Ally Financial, the settlement of deceptive marketing charges by Wells Fargo Bank, and the Attorney General's investigation into faulty foreclosure practices at the Florida Default Law Group, the Law Offices of Marshall C. Watson, P.A.; the Law Offices of David J. Stern, P.A.; and Shapiro & Fishman, LLP., a Florida court ruled that banks must provide evidence of ownership when attempting to foreclose on a property. On Wednesday, a three-judge panel of the 4th District Court of Appeal in West Palm Beach overturned an earlier summary judgment by Palm Beach Circuit Court Judge Thomas Barkdull, allowing repossession of a Boca Raton couple's home by US Bank National Association. The foreclosure went throug... 10/30/2010

Being homeless or having lost your home through foreclosure does not prevent you from voting, said Dr. Brenda C. Snipes, Supervisor of Elections for Broward County. With the nation's third-highest foreclosure rate, many Floridians have addresses that do not match their voter registrations.  Among large metropolitan areas, South Florida led the nation with the highest number of foreclosure filings - more than 59,064 homes in distress - for the third quarter of 2010.  This is a 24 percent increase from the previous quarter, and a 9 percent jump from the same period in 2009.  Led by a large increase in bank repossessions, South Florida's foreclosure rate ranked 7th nationwide, with one out of every 41 homes in some stage of foreclosure.  Many in foreclosure have wondered whether or where t... 10/28/2010

Maya Marca Fort Lauderdale is a beautiful condo building located at 3000 Holiday Drive, adjacent to the renowned Marriott Harbor Beach. Maya Marca features condos for sale with views of the ocean, Fort Lauderdale skyline, and Port Everglades. Maya Marca residents enjoy a gym and fitness center, elevated pool, prestigious lobby and entrance, and more! Maya Marca Fort Lauderdale by: http://floridahomesforsaletoday.com 10/25/2010

Point of Americas Fort Lauderdale is a fantastic condo complex with waterway on 2 sides. Condo owners at Point of Americas can choose between views of the Atlantic Ocean, Port Everglades (see the cruise ships and mega yachts come in and out year round), Fort Lauderdale city views, or North views up the beach and into Fort Lauderdale Beach.  Point of Americas amenities include: a fitness center, 2 resort style pools, 24 hour security, impressive lobby and entrance, & more. View all of the listings for sale at Point of Americas Fort Lauderdale By: http://floridahomesforsaletoday.com 10/25/2010

The Coconut Grove Residences Fort Lauderdale is a luxurious oceanfront building situated directly on Fort Lauderdale Beach. Located just minutes from Pier 66, Port Everglades, Las Olas Boulevard, the Coconut Grove Residences offer the finest appointments in luxury condo living. With just 63 units total, there are multiple floor plans, each intended to draw in as much natural light as possible and maximize the views from every room. Units feature: high end sub zero appliances, Italian cabinets, granite counter-tops, and extensive travertine. Floor to ceiling windows impact glass protects residents from the elements as well as functionally shows off the tremendous views. View of Coconut Grove Residences Fort Lauderdale By: http://floridahomesforsaletoday.com   10/25/2010

Florida Attorney General Bill McCollum announced last week that his office has begun investigating allegations of unfair and deceptive practices at five for-profit higher education institutions.The civil investigation focuses on consumer complaints made against the University of Phoenix, the MedVance Institute, Argosy University, Kaplan Inc., and Everest University. Allegations have been made that the colleges misrepresented financial aid, accreditation, graduation rates and future job placement in the recruitment and enrollment of new students. While some of the schools advised they have yet to be contacted about the investigation, they pledged cooperation. The University of Phoenix on Friday reported receiving a subpoena from the Attorney General for records dating back to Jan. 1, 200... 10/23/2010

Las Olas Art Fair, Fort Lauderdale, FL - October 23 & 24, 2010 The 23rd Annual Las Olas Art Fair is this weekend October 23 & 24, 2010.  It runs along Las Olas Blvd in Fort Lauderdale and is always a fun day.  Admission is Free. Where:  Las Olas Blvd from SE 6th Ave to SE 11th Ave, Fort Lauderdale When:  October 23 & 24, 2010,  10 am - 5 pm   For more information call 954-472-3755 or go to www.artfestival.com.   All information deemed accurate but not guaranteed.   10/21/2010