Districts in Distress [South Florida] Stressed community development districts in Florida this month have told bondholders that they continue to rely on reserves to make debt payments. Some have filed notices of default and analysts expect their number to increase. The state currently has 571 active CDDs, according to state records. Since the early 1980s, …
Category Archives: Breaking News
Even the Rich Are Treating Their Houses Like Piggy Banks
Even the Rich Are Treating Their Houses Like Piggy Banks In recent years, millions of Americans looked at their houses and saw big, fat piggy banks. And it occurred to them to take out big, fat new mortgages. Few did it on the scale of Ronald Burkle. Mr. Burkle, the grocery-store billionaire, has $56 million …
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Q&A: How To Rent Your Home From Fannie Mae
Q&A: How To Rent Your Home From Fannie Mae Fannie Mae announced Thursday that it will let troubled homeowners rent their homes instead of losing them through foreclosure and eviction. The new program is aimed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and can’t get a loan modification, …
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Mortgage modifications are becoming more common, and more lenient
Mortgage modifications are becoming more common, and more lenient Banks and mortgage companies have foreclosed on 5,000 residential properties in the St. Louis region so far this year. But a growing number of homeowners are managing to save their houses by convincing lenders to cut their monthly payments. Borrowers just shouldn’t expect an easy time. …
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The Coming Home-Tax Credit: Worth the Wait?
The Coming Home-Tax Credit: Worth the Wait? In a bid to give another shot in the arm to the housing market, Senate Democrats reached an agreement on Wednesday that would extend the $8,000 first-time home buyer tax credit and introduce a new credit for existing homeowners. This is a tentative compromise worked out by some Senate members and the …
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Buy a house, get a check
Buy a house, get a check If you’re thinking of buying a house, run, don’t walk, to the nearest real estate office. Time is running out for first-time homebuyers to get an $8,000 tax credit. “We’re seeing closings take 30 to 45 days, so they’d better do it right now,” advised EiIeen Mikulecky, a Keller …