News about properties and real estate
Illegal renting results in revenue losses The atmosphere around Cocoa Beach Towers on a recent sunny day was like a vacation resort. The Monkees’ “I’m a Believer” was blaring from the condo complex next door, sunbathers relaxed on the Towers’ balconies overlooking the beach, families lounged by the pool. One could hardly tell that the …
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Homes bulging as Floridians move back in with parents Deb Jacobs left home nearly four decades ago, saying goodbye to her mom and dad to start her adult life. Now, at 58 years old, she is returning. No longer able to afford her mortgage, and following a failed attempt to get a loan modification on …
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U.S. Probes Foreclosure-Data Provider A subsidiary of a company that is a top provider of the documentation used by banks in the foreclosure process is under investigation by federal prosecutors. The prosecutors are “reviewing the business processes” of the subsidiary of Lender Processing Services Inc., based in Jacksonville, Fla., according to the company’s annual securities …
Ask a real estate professional: Why can’t I get flood insurance? Q: My bank just informed me that my loan has been approved. But I can’t close because I don’t have flood insurance for the property, which happens to be in a flood zone. How can this be? Isn’t this something I can get later …
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Hotel deep-six (The Deal Magazine) he Noble Organization, a hotel real estate fund, management and development group, should be perfectly situated in today’s distressed commercial property environment. The number of hotel-related defaults has exploded in the past year or so and now reaches $32.3 billion, according to real estate research firm Real Capital Analytics Inc., …
Florida locales dominate FHA default list What the heck happened to the FHA’s loans in Florida? The state dominates the list of troubled metro areas for Federal Housing Administration-insured mortgages. In fact, 16 of the top 25 locales with the highest default rates are in Florida, as of December, with tiny Punta Gorda on the …
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