News about properties and real estate
The average Florida homeowner who went into foreclosure in November hadn’t paid his mortgage in 10 months. The 307-day delay between the first late payment and a foreclosure referral, reported in a study released this week, was called "flabbergasting" by one financial expert who said mortgages typically go to foreclosure by the third delinquent payment. …
Continue reading “Florida homeowners who don’t pay get lengthy stay”
Some of the more overlooked changes to the laws affecting condominium and homeowners’ associations that were enacted by the 2010 legislature were the new privacy rights given to members and employees of associations. For condominium associations, the following information about unit owners in the possession of the association are not accessible to unit owners: “Medical …
When land is worth more than a home A couple of years ago, Carl and Susanne Wise’s house on Camino Real in South Sarasota was assessed at nearly $1 million. Then it disappeared. The Wises bought a new home, and in this market the rent they could charge did not cover the expenses of the …
Your property management company may be making money off your condo association’s insurance policy. Some say that’s a conflict of interest because management companies also help associations pick their insurance. "Referrals should be based on good service only and not financial incentives," wrote Jerri Franz, a spokeswoman for the Department of Financial Services. On Monday, …
Continue reading “Property managers make money off condos’ insurance”
The yard work and upkeep Joan and Bob Ebaugh used to enjoy at their Palm Bay home started to become chores they couldn’t keep up with. Hiring people to take care of the lawn was becoming a financial burden, and Bob Ebaugh’s bad knee made household jobs even more difficult. But trying to sell the …
When Efrain Hernandez couldn’t seal a deal before the first-time homebuyer tax credit expired earlier this year, he lost faith he would ever own a house in a market where investors and all-cash buyers are snapping up bargains and mortgages seem hard to come by. But waiting — even though it wasn’t by choice — …