News about properties and real estate
Renting for Monthly Loss Could Result in Long-Term Gain I received an email from a reader in Santa Barbara County, Calif., regarding the sale of her house that, once selling fees and closing costs are paid out, she would have to come to the table with a check to get out of the property. “Right …
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Property Taxes While most Florida homeowners are itching for a break on their property taxes, Fisher Island’s wealthy residents have been getting breaks for years. Residents of the exclusive island at the foot of South Beach have gotten accustomed to challenging the property appraiser’s assessments before the Miami-Dade County Value Adjustment Board —and saving big …
1% mortgage – from joy to time bomb A disabled man on a fixed income risks losing his home over his adjustable rate mortgage. The official-looking notice appeared in his mailbox last year. To Denith Harrigan, the promise of an interest rate as low as 1 percent was too good to ignore. Disabled and on …
Boca condo faces foreclosure [South Florida] In the clearest sign yet that the region’s real estate boom has ended, Miami-based Ocean Bank confirmed Wednesday that it has filed a $50 million foreclosure action against the developers of a Boca Raton condo conversion. The foreclosure may be the largest filed in Palm Beach County since the …
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Selling a home short can stave off foreclosure Danielle Merriweather added up all the numbers, and they didn’t look good: * The mortgage was $1,162 a month. * The winter gas bills ran $500 a month. * She had four children to care for. * And little money was coming in after the young mother …
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Puig’s bankruptcy may be one of many more to come [South Florida] Condo converter Puig Inc. is a casualty of the housing downturn. Some think the Hialeah company’s bankruptcy may be one of many more to come. Since South Florida’s raucous real estate party ended, the hangover has taken different forms — sales plunging, foreclosures …
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