News about properties and real estate
Wall Streetwalkers: The Sleazy Lehman Brothers Subsidiary Lehman Brothers CEO Dick Fuld told Congress on October 6 that the Wall Street investment bank was destroyed by a “financial tsunami”—a natural disaster, an act of God. In other words, it wasn’t his fault. But the truth is that Lehman’s fall in the subprime-mortgage crisis was a …
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Who backed out of St. Joe’s $130-million deal? Wake up and good morning. I know, we’ve all got the buzz of the presidential election on our fuzzy minds this morning. Congratulations on a hard-fought, historical event. We’ll be sorting this one out for months if not years. But for now, I want to go instead …
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Policy forbids renting condo until all fees are paid We now have a policy in effect forbidding an owner from renting their condominium unit until the arrears are paid in full. If a delinquent owner sneaks in a renter, how can they be denied occupancy? Can we deny the renter access to the pool area …
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Condo Project Beats The Odds, Builds Hope From a penthouse balcony on the 29th floor of the best building he ever built, Richard Sacchi stared out over downtown Tampa. He was broken, a developer whose company had just filed for Chapter 11 bankruptcy. It was a last-ditch effort to stop foreclosure on The Towers of …
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After the home is gone More than a million homes have been lost to foreclosure in the past two years. And according to data from Mortgage Bankers Association, banks are now in the process of foreclosing on 1.5 million more. The impact of the mortgage crisis has been obvious in both the worldwide credit crunch …
Massive Effort to Save Mortgages J.P. Morgan Chase & Co. launched an ambitious plan Friday to modify the terms of $70 billion in mortgages for borrowers who are behind on their payments or soon could be. The move by the New York bank will cover as many as 400,000 borrowers. They’ll be moved into loans …
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