News about properties and real estate
A lender has filed foreclosure against CityPlace, the high-profile shopping complex that’s facing financial woes in spite of its high occupancy.CityPlace fell behind on its $150 million loan in March, and an entity affiliated with LNR Partners of Miami Beach on Thursday filed a foreclosure suit in Palm Beach County Circuit Court. When contacted, CityPlace …
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Like thousands of local homeowners in their golden years, Rosemary Chandler took out a reverse mortgage in 2005 to help pay her expenses and remain in the Elk Grove home that’s been in her family since the 1940s. The decision worked out fine during her lifetime. But since her death in January 2010, it has …
A vacant lakefront lot near Dolphin Road at 1348 N. Lake Way has sold for about $5.17 million, according to a warranty deed recorded Monday by the Palm Beach County Clerk’s office. With 156 feet of frontage on the Intracoastal Waterway, the lot is 253 deep and lies several blocks south of the island’s northern …
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Lenders have long resisted cutting loan amounts for struggling homeowners, fearing it would entice more borrowers to default. But one locally based servicer, Ocwen Financial Corp., believes it has found a solution. The company is rolling out a new loan modification plan for underwater borrowers that lowers the amount owed on the loan – thus …
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Michigan’s vacation home market is crawling toward recovery with an uptick in sales, according to real estate agents across the state. But not all regions are seeing progress, most prices remain discounted, and more buyers are paying all cash. Sales have risen in many areas, ranging from the lower west side to the northwest tip …
Continue reading “Depressed prices spur sales of getaway cottages”
Q: If a 1985 amendment to our condominium bylaws provides for staggered terms, but our association did not hold a vote to affirm staggered terms in 2008 or any subsequent year, is our association in violation of the law if we still use staggered terms? A: Yes. Section 718.112(2)(d)1 of the Florida Condominium Act was …
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