Mortgage meltdown: Orlando-area minorities likelier to take credit hit in distress sales of homes [Central Florida] Distress sales now define Orlando’s still-slumping home market: Two-thirds of all resale closings in the metro area’s core market these days are either bank-owned foreclosures or lender-approved short sales. But the proportion of foreclosures to short sales varies drastically …
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Struggle with bank drags on past a year
Struggle with bank drags on past a year Joe and Dee Setzer, embroiled in a long battle with their lender to modify their mortgage, also narrowly avoided spending thousands with what state prosecutors say appear to be illegal foreclosure assistance firms. The Iredell County couple considered paying $1,290 last September to a Florida firm advertising …
Mortgage lenders pursue homeowners even after foreclosure
Mortgage lenders pursue homeowners even after foreclosure As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind you, right? As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind …
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Apartment foreclosure to spike rents
Apartment foreclosure to spike rents Tenants at a low-income apartment complex will see their rents increase by as much as 22 percent now that a Bank of America subsidiary has bought it out of foreclosure. Base rents at Riley Chase apartments, a 312-unit complex off Toledo Blade Boulevard near Interstate 75, had been $475 for …
A Venice builder’s problems … and their ripples
A Venice builder’s problems … and their ripples Florida Community Bank, the bank that had $21 million in loans to Venice home builder Jacques Cloutier, was closed by state and federal regulators on Friday. The Immokalee-based bank was taken over by Miami’s Premier American Bank, which is assuming all its $795.5 million in deposits. The …
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Skiers Buy Vacation Homes as Prices Melt
Skiers Buy Vacation Homes as Prices Melt OVER the holiday season all was snowy and bright at ski areas across the country, with a festive jingle in the air. It wasn’t sleigh bells — it was the sound of money. Vacation-home seekers who saw recessionary opportunities were looking to buy. Many were ready to pay …