{"id":15732,"date":"2009-02-19T06:12:21","date_gmt":"2009-02-19T06:12:21","guid":{"rendered":"http:\/\/therealestatemango.com\/2009\/02\/19\/catch-22-in-the-aventura-real-estate-market\/"},"modified":"2019-04-23T20:56:40","modified_gmt":"2019-04-23T20:56:40","slug":"catch-22-in-the-aventura-real-estate-market","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/catch-22-in-the-aventura-real-estate-market\/","title":{"rendered":"Credit Problems In The Word of Real Estate"},"content":{"rendered":"

First, before I go into my story…I want to say that the Obama Foreclosure Plan is <\/a>going to be<\/strong>\u00a0a\u00a0great help and is long overdue.<\/strong><\/p>\n

Now for the story I have been hearing over and over again.\u00a0 A working single mother, was very disheartened to learn that her apartment located in the Aventura Real Estate market, \u00a0had decreased in value over 50%\u00a0 since she bought it and her mortgage was more than the unit was worth.\u00a0 Her maintenance had gone up 30% to make up for the owners who were not paying theirs.\u00a0 Maintenance increases are becoming more and more common in the Aventura Real Estate market.<\/p>\n

She called the bank every week for several weeks asking to speak to a loan officer.(By the way, it was Countrywide).\u00a0 It was important to try and reduce her interest rate and change her payments.\u00a0 Her credit card debt was mounting and she had trouble paying her bills.<\/p>\n

The bank never returned her calls.\u00a0 She stopped making payments. Then <\/strong>the \u00a0bank\u00a0 called.\u00a0 They offered her new terms, her payments would be less.\u00a0 By now, her credit cards were maxed out.\u00a0 She couldn’t pay the maintenance even\u00a0with the new mortgage plan.\u00a0 It was too late for her.\u00a0 She is letting the bank foreclose.<\/p>\n

This is a story\u00a0I hear every week from different people in all walks of life.\u00a0 Hopefully, under the government’s new plan the banks will start to help before it is too late\u00a0to stem the flow of foreclosures.<\/p>\n

Do you have a story?\u00a0 Let me hear from you.\u00a0 I will publish the best ones.<\/p>\n","protected":false},"excerpt":{"rendered":"

First, before I go into my story…I want to say that the Obama Foreclosure Plan is going to be\u00a0a\u00a0great help and is long overdue. Now for the story I have been hearing over and over again.\u00a0 A working single mother, was very disheartened to learn that her apartment located in the Aventura Real Estate market,<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nCredit Problems In The Word of Real Estate - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/catch-22-in-the-aventura-real-estate-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Problems In The Word of Real Estate - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"First, before I go into my story…I want to say that the Obama Foreclosure Plan is going to be\u00a0a\u00a0great help and is long overdue. 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