News about properties and real estate
Florida’s Supreme Court sought a foreclosure lifeline in forcing banks and borrowers to mediation. It was hoped a judicial referee could help unclog court dockets and free struggling borrowers. But in documents obtained by The Palm Beach Post and described in a recent court order, mediators complain lenders and their attorneys are stifling the system …
Continue reading “Foreclosure mediators: Banks pushed us to fail”
The Sebring City Council, in a 4-1 vote Tuesday, decided not to pursue legal action against the developers of Majestic Cove because it figured it had no legal grounds to sue the company.The problem, the council members said, lay in the wording of the city’s development agreement, dated Nov. 15, 2005, with the developer.Council decided …
February is when potential home sellers start painting walls beige and cleaning out closets, preparing for the spring homebuying season. But sellers got some unnerving news last week: The interest rate on a 30-year mortgage jumped up to a level not seen since last April. In November, the average rate slipped to a 40-year low …
Continue reading “Buyers Face Gamble With Rising Mortgage Rates”
Question: I am not qualified to make the decisions necessary for our situation, but hope that someone with your knowledge may help guide me so my husband and I can make it for our remaining 20 years. The situation is this: We don’t have any retirement income other than savings. For years, my husband invested …
Continue reading “Using a reverse mortgage to buy a home Realty Q&A”
In an earlier post, I ranted about the burdensome new Form 1099 reporting requirements for businesses. Those rules are scheduled to kick in next year, but there’s a good chance they will be repealed before then. Fingers crossed! Meanwhile, yet another set of nasty new 1099 rules are lurking in the background. These rules affect …
Continue reading “1099 Hassles For Rental Real Estate Owners”
The scenery includes parking lots and vacant land just steps from the Mississippi River. To Trooien, who owns much of the acreage, those empty parcels were the property that would redefine downtown St. Paul. At the height of the real estate boom, Trooien proposed the highly publicized Bridges of St. Paul project — a massive …
Continue reading “Developer Jerry Trooien — A vision gone bust”