Condo buyers allege flipping scheme Back in 2007, Steven and Joan Haber paid $260,000 for their retirement home in Charlotte County, a short drive from the multimillion-dollar beachfront estates of Boca Grande. The Condominiums at Waterside seemed like a steal. Within 18 months, the buildings were sold out and the newest units were fetching record …
Category Archives: General
The cat’s out of the bag as to names of delinquent neighbors
The cat’s out of the bag as to names of delinquent neighbors Q: We have been advised that two owners in our condo association have not paid their assessments. Their names and addresses were listed in the notice sent to all owners. We were advised the board has spent over $8,000 in legal fees for …
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CDD defaults may be disaster for a swath of homeowners [Tampa Bay]
CDD defaults may be disaster for a swath of homeowners [Tampa Bay] More than 50 of Tampa Bay’s community development districts are in or near default, a condition that could have serious ramifications for thousands of homeowners across Tampa Bay and accelerate the decline of already troubled Florida banks. Developers use CDD bonds, or “dirt …
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Reason not to foreclose quickly
Reason not to foreclose quickly Q: In today’s real estate market it may not be wise to foreclose. Lien, yes. Against my opinion, my board foreclosed and now is responsible for trying to sell a home in the community of 1,100 homes. The board, of course, is footing the bill for upkeep and paying all …
Banks Take Losses on Short Sales as Foreclosures Soar
Banks Take Losses on Short Sales as Foreclosures Soar Drew Schlosser tried for two years to sell his three-bedroom Punta Gorda, Florida, waterfront condominium for less than he owed on its two mortgages. The deal only went through last month when Wells Fargo & Co. agreed to take a $165,000 loss on the loans. Even …
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Hanging on in sinking market
Hanging on in sinking market In the fourth grade, he says, he sold more raffle tickets than the rest of his class combined. After graduating with his MBA from the University of Georgia, he founded a golf ball retrieval company, swimming among alligators to recover balls in water hazards. He opened offices in Wales and …