Districts in Distress [South Florida] Stressed community development districts in Florida this month have told bondholders that they continue to rely on reserves to make debt payments. Some have filed notices of default and analysts expect their number to increase. The state currently has 571 active CDDs, according to state records. Since the early 1980s, …
Author Archives: Administrator
When government auctions went online, what was for sale got lost
When government auctions went online, what was for sale got lost Erika Ginsberg-Klemmt and William Anderson met online, but not in a good way. Driven by the misconception that they had stumbled on a brilliant formula that would allow them to buy a Siesta Key condominium for pennies on the dollar, the two novice real …
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Even the Rich Are Treating Their Houses Like Piggy Banks
Even the Rich Are Treating Their Houses Like Piggy Banks In recent years, millions of Americans looked at their houses and saw big, fat piggy banks. And it occurred to them to take out big, fat new mortgages. Few did it on the scale of Ronald Burkle. Mr. Burkle, the grocery-store billionaire, has $56 million …
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Foreclosures crisis caused by investors. And lenders. And politicians. And buyers [Tampa Bay Area]
Foreclosures crisis caused by investors. And lenders. And politicians. And buyers. [Tampa Bay Area] A simple narrative is often used to characterize the foreclosure crisis at the heart of America’s Great Recession: While banks are at fault for approving risky loans, people who lived in the homes are as much to blame. Vanity Fair magazine …
Q&A: How To Rent Your Home From Fannie Mae
Q&A: How To Rent Your Home From Fannie Mae Fannie Mae announced Thursday that it will let troubled homeowners rent their homes instead of losing them through foreclosure and eviction. The new program is aimed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and can’t get a loan modification, …
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The Economy May Be Recovering, But Miami’s Foreclosure Mania Isn’t Close To Over [South Florida]
The Economy May Be Recovering, But Miami’s Foreclosure Mania Isn’t Close To Over Riptide was feeling all warm and fuzzy this morning. No, it wasn’t just from all the vodka in our coffee. (What, like you don’t start your day with a little ‘Russian java’?) The latest employment numbers came out this morning, and it …