Mortgage-aid plan limping along Struggling homeowners were given hope when a federal housing initiative to help millions avoid foreclosure was announced by President Barack Obama in Mesa four months ago. The key part of the $75 million Making Home Affordable plan was a loan-modification program that compensated lenders for lowering the mortgage payments of borrowers …
Category Archives: Breaking News
Home Prices Rise in California Again
Home Prices Rise in California Again California’s median price for an existing single-family house rose for the third straight month, a sign that the state’s battered real-estate market may be bottoming out. The median sales price increased to $267,570 in May for a California home, an increase of 4.2% from April, according to a report …
Big dreams for hotels are falling flat
Big dreams for hotels are falling flat After the residential real estate market peaked in the summer of 2005 and the commercial market began to cool a year later, hotels enjoyed a brief period in which they were viewed as the hottest commodity in a rapidly shrinking real estate world. Developers of all dimensions announced …
Fear and Uncertainty Grows As Tainted Drywall Surfaces
Fear and Uncertainty Grows As Tainted Drywall Surfaces As the number of new homes and condominium communities affected by tainted drywall continues to rise, fear and uncertainty among residents, owners and potential buyers in Southwest Florida are growing. Much remains unknown about where defective wallboard from China was actually used. The idea that American manufacturers …
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The costs and benefits of home ownership | Shelter, or burden?
The costs and benefits of home ownership | Shelter, or burden? In a scene from the film “It’s a Wonderful Life”, a happy couple is about to enter their new home. Jimmy Stewart, whose firm has sold them the mortgage, reflects that there is “a fundamental urge…for a man to have his own roof, walls …
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Florida county may declare itself an economic disaster
Florida county may declare itself an economic disaster Just five years ago, Port St. Lucie was America’s fastest-growing large city. Then the foreclosure crisis slammed it like a hurricane. Today it sits in one of the hardest-hit counties in the nation. Thousands of houses are empty or unfinished. Neighborhoods are littered with for-sale and foreclosure …
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