Rich have higher home default rates The well-off are losing their master suites and saying goodbye to their wine cellars. The housing slump that began among the working class in remote subdivisions and progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley. Whether it …
Category Archives: Legal
Delayed foreclosure adds to couple’s pain
Delayed foreclosure adds to couple’s pain Loraine and Kerry Swope likely would have lost their south Charlotte home to foreclosure last year had they not been trying to resolve issues with their lender and get a loan modification. They rejected an offer last summer from GMAC that would have reduced their monthly mortgage payment by …
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Florida condos get new tool for collecting fees [South Florida]
Florida condos get new tool for collecting fees [South Florida] A new law offers a stark choice for South Florida condo renters living in units owned by people who are behind on their maintenance fees: Fork over the rent money to the association, or face eviction. The “Distressed Condominium Relief Act,” signed by Gov. Charlie …
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Protecting tenants in foreclosed properties
Protecting tenants in foreclosed properties A report says that about 40 percent of the millions of property owners facing foreclosure involve tenants who are renting a house, apartment or condominium. Federal and state laws give them protection so they don’t have to move quickly. Q:I rent a small single-family home and have made all of …
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Program may help some underwater homeowners in South Florida
Program may help some underwater homeowners in South Florida Scott Katzer owes about $200,000 more than his Fort Lauderdale home is worth. Unable to sell anytime soon, he wants to reduce his monthly mortgage payment by refinancing to a lower interest rate. Katzer doesn’t qualify under a government refinancing program because the value of his …
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Lien on house: Convince creditor that house is worthless
Lien on house: Convince creditor that house is worthless Q My divorce was final two years ago, and in the divorce decree I was awarded the house. But prior to my getting a spousal transfer deed, one of my ex-spouse’s creditors put a lien on the house which prevented me from completing a short sale. …
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