No one would accuse the executive given the task of salvaging Bank of America Corp.’s troubled mortgages of being a smooth operator. During his first public appearance after being named to the job in February, Terry Laughlin mispronounced the name of one executive and was blamed for not giving a customary introduction to one of …
Author Archives: Administrator
Tracking mortgage’s owner can be ordeal
Alan Fagan finally figured out who owns his mortgage. He had lost his job, was running up credit cards paying bills, and faced foreclosure. Citimortgage, a division of America’s third-largest bank, services the loan and told him repeatedly it could not modify the terms or offer him a revised repayment plan. Why? The investors who …
Foreclosures rare in Hillsborough County’s Sun City Center
As an international banker, Ed Feder lived all over the world. Tokyo, London, Sydney, Frankfurt. Rome, he said, was heaven. But when it came time to pick a retirement home, he and his wife chose Sun City Center. “I mean if you can’t be happy here,” Feder, 70, said, “you’re not going to make it …
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Mayo column: If there’s no Citizens Insurance for Floridians, then what?
What happens if there’s no Citizens Property Insurance, the state-run insurer of last resort that has become the insurer of only resort for many South Floridians? “If you get rid of Citizens, then everyone has to go to the private market,” said Erick Collazo, of Boca Raton. “And if the private market won’t write policies …
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Median market value down 49.7 percent from 2006 peak in Boynton Beach’s Boynton Isles
With just 50 houses, all of which have direct access to the Intracoastal Waterway, Boynton Isles is the subject of this week’s installment of our real estate profile series. The neighborhood is situated between South Federal Highway and the Intracoastal in Boynton Beach. None of the homes in Boynton Isles are currently in foreclosure, according …
Hotel investment: South Florida’s Insite Group buys South Beach oceanfront hotel for $61 million
The Weston-based investment group that bought the former Holiday Inn on Fort Lauderdale beach and developed it into the chic B Ocean Fort Lauderdale resort is expanding its buy-and-renovate business to Miami Beach. Insite Group and its London-based partner Cube Capital said they purchased the 251-room Continental Oceanfront South Beach Hotel for $61 million in …