The first disaster for Ron Benitez was losing his DeBary home to the massive flooding caused by Tropical Storm Fay in 2008. Now, the retiree is facing a financial calamity: paying far more for flood insurance because of newly revised federal maps that have made his rebuilt home part of a high-risk flood zone. Benitez, …
Category Archives: Breaking News
Fannie Mae ignored robo-signing abuses in Florida foreclosures, investigation finds
Federal mortgage giant Fannie Mae was told in 2006 about faulty court documents filed by Florida foreclosure attorneys acting on its behalf but did nothing to correct the practices, an inspector general found. A report issued Friday by the Federal Housing Finance Agency Office of Inspector General said an outside law firm Fannie Mae hired …
Housing market is terrific, if you are rich
It’s starting to feel as if there are two housing markets. One for the rich — and international buyers — and one for everyone else. Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 — about what a buyer would have paid …
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As data shows more Americans in poverty, Belle Glade looks for ideas from eastern Palm Beach County
Start at the east end of Southern Boulevard – at Donald Trump’s Mar-a-Lago, one of the country’s poshest private clubs – drive west 38.8 miles on the same road and you reach Belle Glade, a city with some of the worst unemployment and poverty in the country. Without using your blinker, you go from a …
West Palm Beach’s CityPlace is target of foreclosure suit
A lender has filed foreclosure against CityPlace, the high-profile shopping complex that’s facing financial woes in spite of its high occupancy.CityPlace fell behind on its $150 million loan in March, and an entity affiliated with LNR Partners of Miami Beach on Thursday filed a foreclosure suit in Palm Beach County Circuit Court. When contacted, CityPlace …
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Miami residential sales recovery rockets past rest of nation
After experiencing one of the worst housing market crises, Miami is making a strong comeback — above other major cities in the US — fueled by international investors buying local real estate with cash. The coastal and desert regions in the US, including South Florida, are seeing significant sales activity compared to the rest of …
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