News about properties and real estate
Massive Effort to Save Mortgages J.P. Morgan Chase & Co. launched an ambitious plan Friday to modify the terms of $70 billion in mortgages for borrowers who are behind on their payments or soon could be. The move by the New York bank will cover as many as 400,000 borrowers. They’ll be moved into loans …
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Florida real estate gains a new appeal Prague resident Martin Urman has $5 million in his pocket and he is planning on spending it here. Urman, 39, is a residential developer who has been riding a wave of post-communist capitalism that has infused huge sums of money into former Soviet states. Those clever enough to …
Foreclosure king surfs troubled home waters The South Bay’s reigning King of Foreclosures runs around barefoot, doesn’t own a cellphone and drives an 8-year-old Toyota Tundra pickup. And without looking the part, Leo Nordine, an affable Hermosa Beach-based real estate broker, expects to average one escrow closing a day this year — something that would …
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From Park Avenue to Park Slope If your net worth has taken a hit, it might be time to relocate. Where are you going to go? As thousands of people across the world who work in the financial-services industry and related fields lose their jobs or see their incomes slashed, many of them will be …
Trashed homes part of foreclosure crisis Mounting foreclosures have created a cottage industry in Lee County: the trashout business. Here’s how it works: When a lender takes back a home in foreclosure, or a landlord kicks out a recalcitrant tenant, the trashout specialists are called in to clean up their mess. Advertisement Jillian Miller, a …
Strategy to stave off foreclosure falls short More than 7,000 homeowners facing foreclosure in the Valley are trying to sell their homes through a process known as a short sale, according to Arizona Regional Multiple Listing Service data. But less than 5 percent manage to sell before lenders seize their houses. The failure by banks …
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