SOURCE: Florida Homestead Law Group

Florida Homestead Law Group

February 24, 2011 06:00 ET

Florida Homestead Law Group Launches Web-Based Calculator for Homeowners

Tool Will Provide Costs and Benefits of Staying in Home

FORT LAUDERDALE, FL--(Marketwire - February 24, 2011) - Florida Homestead Law Group launched the Homestead Legal Negative Equity Calculator, a web-based tool designed to help homeowners better understand if it's cheaper to rent than to own.

The Homestead Legal Negative Equity Calculator is designed to take the guesswork out of the questions homeowners have about their current home situation. This tool will help homeowners determine whether or not it is financially feasible to stay in their homes or consider other options.

"Many of our clients are visual learners," Scott Podvin, Lead Attorney for Florida Homestead Law group said. "This tool will help homeowners around the country make a more educated decision."

The easy-to-use Homestead Legal Negative Equity Calculator allows homeowners to enter in their property information and market conditions specific to their demographics. Their customized information will then be calculated to reflect:

  • when their home will be worth what they owe
  • what their monthly savings will be if they walk away
  • the total savings from a decision to walk away

"In the harder hit areas, homeowners are really just renters that have to carry a huge mortgage debt load," Podvin said. "It makes sense to mediate a short sale or deed in lieu when you can rent for 60% of your monthly mortgage payment, which this calculator will help homeowners understand."

To learn more about Florida loan modifications or to access the Homestead Legal Negative Equity Calculator, visit Florida Homestead Law Group at www.homesteadlegal.com.

About Florida Homestead Law Group: The Florida Homestead Law Group, based in South Florida, strives to provide client focused interdisciplinary services, resulting in a hands on legal representation experience for all clients. The attorneys and staff are advocates of financial responsibility and consumer rights. To learn more about how the Florida Homestead Law Group can help you, visit them at www.homesteadlegal.com.

Contact Information

  • Contact
    Florida Homestead Law Group
    1640 W. Oakland Park Blvd.
    Fort Lauderdale, FL, 33311
    Phone: (888) 907-3796
    Web Address: http://www.homesteadlegal.com