Tag Archives: mortgages

Doral Bank, a Puerto Rico-based bank with a presence in Florida, recently reaffirmed its commitment to real estate by announcing a partnership with San Juan Board of Realtors. During the oath ceremony of the Association’s new board, Doral Mortgage addressed the Board of Realtors and confirmed its support of the continued education program. Jesus D. Mendez, the operations EVP at Doral Bank Puerto Rico, took the oath of the new San Juan Board of Realtors president Eduardo Santos Alvarado at the event.

Alvarado acknowledged Doral’s support, and stated “It’s important to work together to achieve the goals we all have in the mortgage market. Our present is challenging, therefore, it’s important to know the existing opportunities to provide successful solutions to consumers in a responsible manner and that’s what we are looking for with our partnership with Doral.”

Doral bank also issued a statement, explaining that it “is essential to establish such partnerships in times of economic change, emphasizing that Doral has always distinguished itself by extending services of opportunities and alternatives for citizens in programs aimed at the acquisition of homes. With programs such as HARP (Home Affordable Program Refinance) and FHA Streamline, they have followed families to refinance their mortgage at a lower interest rate even at a time when the value of the property has been affected, allowing a significant financial relief for these families.”

Real Estate is Booming in The Villages
Real Estate is Booming in The Villages

In a recent overview of the surging housing market in the US, a community in Florida was among the five leading real estate markets considered experiencing “hot streaks.” The communities included Daphne, Alabama; Colorado Springs, Colorado; Raleigh, North Carolina; Myrtle, South Carolina; and The Villages in central Florida.

The Villages is the only community in the list with a master plan for its development. Located in the heart of central Florida, The Villages is probably the least well-known of the communities on the list. But don’t let obscurity fool you. Real estate is booming in The Villages. During 2013 there were almost 4,100 new homes sold, a huge increase of 52 percent over the year before. In addition, home sales in The Villages accounted for 45 percent of all the lots sold in all of the central Florida market during 2013.

If you are at all considering a home purchase in the central Florida region it would be wise to investigate The Villages. For mortgages in Florida, Doral Bank would also be a good place to begin looking for a good deal. Doral offers good mortgage terms and is also a full-serve bank that has a full line of customer services. Doral has 6 branches throughout Florida, in Panama City, Pensacola and Tallahassee, making it a convenient choice for consumers.

 

Mortgages can be financially draining and intimidating for people.  But having a mortgage is the way to get ahead on the property ladder.  Doral Bank offers various mortgage options to make things easier.  With its focused, expert team, Doral Mortgage ensures the mortgage rate is upheld up to 30 days following approval.  That is a guarantee Doral offers.

 

Doral Mortgage prides itself on its personalized and expert customer service; professional supervision of bankruptcy, executions and loss mitigation; accessible payment center.  In addition, knowledge is power.  Thus Doral Bank is committed to giving its clients the know-how to keep their home.

 

Indeed, to date, Doral Bank has helped more than 30,000 families keep their home.  Its Loss Mitigation Program has tools that have helped such people who are behind on their payment due to loss of earnings, etc.  Doral Bank gives advice on: payment plans, modifications, short sales, and deed-in-lieu as alternative ways of helping its clients.

 

Finally, after months of poor performance in America’s housing industry, it seems like 2012 is going to be the year of recovery, albeit gradual. In South Florida for example, home sales are increasing which is good because prices were really hitting a low.  However, the mortgages people took out during the boom are still negatively impacting the market and this has been extremely challenging for many homeowners.

So, for those encountering difficulties in the housing market – be they homeowners, those looking to buy or potential sellers – there are some ways of improving the situation. First, since things have started to look up, for those looking to sell it is worth trying to do so earlier rather than later before foreclosures appear.  No matter how desperate you are to sell though, do not try to provide cash/cars/other incentives to get them to buy.  It is a bad idea.

In general, it looks like it is going to be a good year for sales; there are fewer declines in pricing as well as fewer properties on the market than in say 2009, 2010 and 2011.  In addition, it is anticipated that there will be another wave of bank-owned homes which will result in lower values and additional competition for those looking to buy properties.