News about properties and real estate
Cap may make it harder to obtain mortgage The cap on single-family home loans in San Diego County that can be purchased by government-sponsored Fannie Mae and Freddie Mac will be reduced in January from $697,500 to $546,250. In a move that’s expected to make it harder for some consumers to get mortgages, the Federal …
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Policy forbids renting condo until all fees are paid We now have a policy in effect forbidding an owner from renting their condominium unit until the arrears are paid in full. If a delinquent owner sneaks in a renter, how can they be denied occupancy? Can we deny the renter access to the pool area …
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Condo Project Beats The Odds, Builds Hope From a penthouse balcony on the 29th floor of the best building he ever built, Richard Sacchi stared out over downtown Tampa. He was broken, a developer whose company had just filed for Chapter 11 bankruptcy. It was a last-ditch effort to stop foreclosure on The Towers of …
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Celebrities among those bilked by Houston lawyer’s scam A case including celebrities such as Tiger Woods and Chuck Norris, plus a $29,000 Rolex watch and the complexity of consolidated subprime mortgage investments ended in Houston on Tuesday with a 22-count guilty verdict against a Houston lawyer. Ted Russell Schwartz Murray, owner of Premiere Holdings real …
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Q&A: Time to pay the piper on condo roof replacement Q: I live in a retirement condominium that is about 40 years old. Our county notified us that we must be inspected by an engineer to determine if we have construction deficiencies. The report indicated that our main problem was the roof. We recently started …
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Condo-Minimum With the condo glut growing as new towers are finished, and buyers walk away from presale contracts, developers increasingly are resorting to auctions to unload units at steep discounts. Unlike ubiquitous foreclosed-home auctions, these events seek to establish market prices for untainted, often upscale properties. In an aggressive test of the strategy, 39 luxury …