The common scenario of a homeowner struggling to make their payments and the various ideas enacted to try and rectify or slightly ameliorate that situation are still prevalent to this day, even in high end markets like Miami Beach homes.  In the case of the latter, the state of Florida is getting set to roll out a new initiative.

Florida's Hardest Hit Program focuses on giving unemployed homeowners or those whose don't make enough to cover payments up to $35,000, resulting in eighteen months of loan payments.  This would also assist in lowering the amount of delinquencies and bringing those loans current.  As for where this money is coming from, the funds are a result of the $1 billion in federal funding given to the state.  It should be noted that the money is not being sent to borrowers; loan services and lenders will function as the “middleman”.  If you own Miami Beach homes or a Florida homeowner, you can apply for the program next month.

The people behind the Hardest Hit program stress that it's not meant to be a loan but a form of financial assistance designed to give people a bit of room to breathe while they get back on their feet and hopefully find new employment.  In fact, it's estimated that the program will help about 20,000 people which may seem like a questionably small number.

Even in generally upscale and exclusive markets like that of Miami Beach homes, foreclosures have affected homeowners.  There's an exhaustive amount of information regarding foreclosures, a lot of which has been twisted and turned in some way causing some people to believe false truths.  You should always consult with a knowledgeable real estate professional before assuming anything but these tips will help you debunk some of the myths.

If your circumstances have changed and you find yourself struggling to make those payments for Miami Beach homes, ask for assistance and forget about “strategic default”.  Refusing to make payments will not increase your odds of receiving a modification and will ultimately result in a ruined credit history.

You could also end up foreclosing despite your most earnest efforts, a situation that might make it tougher to own Miami Beach homes—or any home—in the future...but not impossible.  True, you may need to wait about seven years before you can give homeownership another go but it doesn't mean your dream can't be fulfilled.

These are only a few of many myths you may come across when navigating the murky waters of foreclosure.  Before you throw in the towel, do your homework and you may find you'll be able to keep that home you worked so hard for.

The elephant in the room when it comes to Miami Beach homes and real estate in South Florida has been and continues to be the problem with foreclosures and subsequent evictions.  It's a problem nobody wants to have to deal with, especially not during the holiday season.  In a move similar to what many did last year, lenders have decided now is not the time either.

Major lenders like Bank of America, Freddie Mac and Fannie Mae have decided to take varying measures to halt foreclosure proceedings during the holiday season, something that should come as relief to people living in Miami Beach homes who may be in a tight situation.  In Fannie Mae's case, the moratorium doesn't extend to court proceedings involving foreclosures but the suspension should still come as a relief to many.

This “holiday halt” doesn't start until the 20th of this month but it's good to know struggling borrowers will still have a roof over their heads to spend the major upcoming holidays like Christmas and the New Year's 2011 festivities.

A trend that's been around for some time now is purchasing distressed Miami Beach homes (or any South Florida home) and using them as a significantly reduced new place to live or a canvas of sorts to be “flipped” and sold for a profit.  While you can do exhaustive research on the internet on the primers and tips regarding buying distressed homes, oftentimes it's best to get some hands-on or at least a face to face experience with people who know what they're doing.

Starting this Friday, you can gain some valuable knowledge on buying distressed homes by attending a foreclosure convention being held at the Sheraton Suites Cypress Creek.  Several real estate groups will be sponsoring the event and many industry professionals will also be giving their advice to attendees on the importance of buying inexpensively and holding onto those Miami Beach homes you may be keeping an eye on.

The Sheraton Suites Cypress Creek is located at 555 NW 62nd Street in Fort Lauderdale.  The foreclosure event continues throughout the weekend ending on Sunday.  You can find more information by visiting http://foreclosureconvention.com.

Considering buying Miami Beach homes or any other home for that matter?  The government tax credit may be over but you still might want to think about making up your mind and deciding what you’d like to do, especially if you plan to seek FHA financing.  Pretty soon you might find yourself having to shell out more each month if you don’t.

New buyers purchasing Miami Beach homes or those who are seeking an FHA loan for any kind of home face the possibility of potentially having to pay higher monthly fees.  The FHA was recently given approval to hike up its fees in order to stabilize its finances after weathering the effects of foreclosures.  To illustrate, a buyer with a $170,000 mortgage would have to pay a little more than $40 additional dollars each month with the new FHA premium hikes.  While this would generate over $1 billion for the FHA, it would obviously cause more financial strain on the homeowner.

The only real solution to this situation is to buy whatever Miami Beach homes you’re going to buy soon before this new premium hike goes into effect.  How do you feel about these new changes?  Are they a necessary measure to keep the FHA afloat or another way of making things tougher for homeowners on a strict budget?

Here’s something a little more lighthearted and amusing to kick off your Father’s Day weekend.  Whoever heard of leaving multimillion dollar Miami Beach homes to your pets as an inheritance?  That’s exactly what one woman did and the lawsuits are already gearing up by family members to try and snag a piece of this inheritance.

To be more specific, a woman named Gail Posner gave $3 million dollars and her Miami Beach mansion to her three dogs, a decision her son is none too happy about .  Perhaps even more surprisingly, a whopping $25 million was also given to her staff members to be used to care for her Chihuahua and keep her decked out in the finest designer dog gear and refreshed with regular spa outings.  As for the residence itself, it definitely falls under the category of luxury Miami Beach homes as it’s currently worth $7 million.

Ms. Posner in Miami Beach is certainly unusual but this isn’t the first time someone has left their wealth to their pets.  Perhaps most famously, late billionaire real estate investor Leona Helmsley initially left a staggering $12 million dollar trust fund to her Maltese named Trouble before the sum was reduced to $2 million.  Perhaps dogs really are man’s best friend.