Qualified borrowers face credit squeeze Lenders are rejecting more loan applicants with strong credit scores, the latest indication the nation’s credit crunch is deepening and further depressing the housing market and the economy. Mortgage companies are growing more cautious and tightening lending standards for some of their most credit-worthy customers – from increasing down payments …
Monthly Archives: March 2008
Vacancies on rise at South Florida shopping centers
Vacancies on rise at South Florida shopping centers as economy worsens The housing woes are spilling over to commercial real estate. Cracks are evident in the office and retail sectors in South Florida and nationwide, according to real estate analysts and brokers. “We’re definitely seeing things slow down,” said David Luther, a senior associate at …
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Bear Stearns CEO Is Said to Rent House
Bear Stearns CEO Is Said to Rent House Bear Stearns Cos. Chief Executive Alan D. Schwartz has taken off the market his suburban New York house, listed for $4.5 million, and is renting it, the real-estate agent who had listed the home says. Meanwhile, Bear Chairman and former CEO James Cayne closed last month on …
Mortgage Mess Hits Home For Nation’s Small Builders
Mortgage Mess Hits Home For Nation’s Small Builders In the first wave of the housing crisis, homeowners across the U.S. lost their properties to foreclosure. Now, many of the nation’s small and midsize home builders are on the ropes. Bill Whitlatch, longtime owner of one of the leading home builders here in northeast Ohio, is …
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Builder’s owner files for Chapter 11 [South Florida]
Builder’s owner files for Chapter 11 [South Florida] The majority owner of Sunland Homes has filed for Chapter 11 protection in the Southern District Court of Florida, leaving the future of its local developments in question. Craig Kelley, an attorney for the Palm Beach County-based Frank E. Young Family Partnership, which owns 51 percent of …
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Agent: Foreclosures mean opportunities [Santa Cruz]
Agent: Foreclosures mean opportunities [Santa Cruz] After a bank repossesses a home, Sebastian Frey often gets a call. Frey, 37, works at Thunderbird Real Estate in Capitola. Last month, he invited a reporter to join him as he checked on two newly foreclosed properties in the Las Lomas area, just over the Monterey County line. …
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