News about properties and real estate
The battle for control of the Palm Beach Mall has spilled into the courthouse. Ever since Simon Property Group let the aging center slip into foreclosure, big-money interests have vied to take control of the 90-acre property along Palm Beach Lakes Boulevard in West Palm Beach. Doing so has been tricky because the mall property …
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Selling a condominium in this troubled market hardly needed to get any more difficult. But that’s exactly what could happen to scores of Tampa Bay area condo owners looking to sell or refinance with Federal Housing Administration mortgages. The FHA — which insures mortgage loans, among other things — has new eligibility rules that condo …
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After a brief respite, the foreclosure storm is again raining down on Volusia and Flagler counties. December saw an enormous increase in foreclosure activity compared with the previous month, and both counties rank in the top five in foreclosure rates in Florida. Monthly activity — default notices, auctions and repossessions — increased almost 240 percent …
U.S. Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’ highest court Friday that will guide lower courts in that state and may influence others in the clash between bank practices and state real-estate law. The ruling drove down bank stocks. The state Supreme Judicial Court upheld a judge’s decision saying two …
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Worried that your bank might go after your other assets if you’re late on the mortgage or lose your home to foreclosure? It can happen in Florida, especially if a bank sells your foreclosed house and doesn’t recoup the full loan amount and if you’re a big-dollar borrower. With nearly half of all mortgages under …
The average Florida homeowner who went into foreclosure in November hadn’t paid his mortgage in 10 months. The 307-day delay between the first late payment and a foreclosure referral, reported in a study released this week, was called "flabbergasting" by one financial expert who said mortgages typically go to foreclosure by the third delinquent payment. …
Continue reading “Florida homeowners who don’t pay get lengthy stay”