News about properties and real estate
Brilliant hotel plan goes south BOB BRILLIANT’S PLAN WAS NOT to just retire to Florida, but to take his considerable life savings and invest in a promising business that also would provide him with a job. At first, the plan seemed like a good one: A hotel with nightly rentals of apartment-like rooms near Siesta …
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Paperwork Trail: The Lawyers Who Fight Foreclosures The paperwork mess muddying home foreclosures erupted last month. But the legal strategy behind it traces to a lawyer’s gambit in 2006 that has helped keep one couple in their home six years beyond their last mortgage payment. Lillian and Robert Jackson stopped paying on their home in …
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Mortgage Damage Spreads The unfolding foreclosure-processing debacle is causing bank stocks to slide and putting millions of delinquent borrowers in limbo. But how disruptive the crisis ultimately becomes—for homeowners, the housing market and the broader economy—depends on how quickly a number of technical problems and legal challenges are resolved in the months ahead. In essence, …
From a Maine House, a National Foreclosure Freeze The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. In the driveway is a busted pickup truck. No one who lives there is going anywhere anytime soon. Nicolle …
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Why Florida’s Foreclosure Machine Is Slowing Down At the George E. Edgecomb Courthouse in Tampa, Judge Sandra Taylor presides over one of the special courts set up to help work through Florida’s backlog of foreclosure cases. Sitting at a desk in a fifth-floor conference room, with a court assistant and a cart stacked with manila …
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The Short Sale Alternative When newlyweds Justin and Rebecca Rakitin starting shopping for their first home in the Fort Lauderdale, Fla., area last year they assumed the process would be quick and easy, with a $8,000 first-time buyer tax credit at their disposal and ‘For Sale’ signs littering every block. In fact, most of the …