News about properties and real estate
Homes bulging as Floridians move back in with parents Deb Jacobs left home nearly four decades ago, saying goodbye to her mom and dad to start her adult life. Now, at 58 years old, she is returning. No longer able to afford her mortgage, and following a failed attempt to get a loan modification on …
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Being in large amounts of debt is not always a bad thing, particularly if you feel you will easily be able to repay it in the future, but the truth is most people get into problematic debt because they haven’t thought about it carefully enough. With credit being readily available, even after the credit crunch, …
Appraisers say cheaper valuations open door for short-sale abuses A run-up in housing prices contributed to the downfall of real estate, but now some appraisers fear low-ball valuations could lead to the next market muddle. They say a new federal rule to speed up short sales will increase banks’ reliance on broker price opinions — …
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U.S. Probes Foreclosure-Data Provider A subsidiary of a company that is a top provider of the documentation used by banks in the foreclosure process is under investigation by federal prosecutors. The prosecutors are “reviewing the business processes” of the subsidiary of Lender Processing Services Inc., based in Jacksonville, Fla., according to the company’s annual securities …
Fall from grandeur: Recession, foreclosure shutter Grand Bay Pigeons live in the barren penthouse nightclub of the former Grand Bay, South Florida’s last five-star hotel. A vagrant recently went to the bathroom in the vacant lobby, where black graffiti colors the walls. The dining room hints of smoke, the remnant of a campfire built on …
Ask a real estate professional: Why can’t I get flood insurance? Q: My bank just informed me that my loan has been approved. But I can’t close because I don’t have flood insurance for the property, which happens to be in a flood zone. How can this be? Isn’t this something I can get later …
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