Turn the foreclosure tables On Thursday, the Mortgage Bankers Association reported that Florida ranks third in mortgage delinquencies, second in foreclosures started and first in foreclosure inventory. At year’s end, 22 percent of mortgage borrowers were at least a month behind on payments. Everyone pays, directly and indirectly, for these often vacant, blighted foreclosed properties. …
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Help for Owners Near the Edge
Help for Owners Near the Edge Until recently, the only way for cash-strapped homeowners like Kevin and Jennifer Norris to renegotiate the terms of their mortgage was to default on the payments, because no bank would consider their request unless they were in arrears. “But I’ve never missed a payment on anything, and we have …
Tell Us Your Real Estate Story
Tell Us Your Real Estate Story After months of serious searching I closed Thursday on a home I’m planning to rent out. I paid $125,000 for a house that sold four years ago for $355,000. If you’re thinking about buying a bank-owned home I’ve learned a few things. One is that good ones go fast …
Lawmakers look for ways to aid condo associations
Lawmakers look for ways to aid condo associations Harvey Berman, president of Royal Oaks condominium in the California Club area of Miami-Dade County, takes a lot of flack from dues-paying residents in his building who are peeved about other owners in foreclosure and behind on their association fees. ”A man has been in a unit …
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Local hotel developer indicted in Ohio
Local hotel developer indicted in Ohio An Ohio grand jury has indicted Robert Falor, the Chicago developer whose failed attempts to redevelop three downtown hotels left a trail of bad feelings and lawsuits from investors and lenders. Mr. Falor stole $400,000 from an Ohio man who invested in a plan to convert the former Hyatt …
Sink or swim [Southern California]
Sink or swim [Southern California] Merchants at the eclectic Seaport Village shopping complex are seeing something they’ve rarely seen amid the T-shirt shops and jewelry stores: empty storefronts and liquidation signs. There’s the shop near the waterfront that once housed The Cabbage Tree. Its owners recently took the “midnight run” – emptying the gift store …