News about properties and real estate
Bulk Acquisition of Florida Distressed Condominiums Unbridled development of Florida condominium projects from 2003 to 2007 and subsequent collapse of the residential real estate market have contributed to the latest trend in Florida real estate investment: acquisition of the fractured condominium. Investors in Florida fractured condominiums include a significant number of out-of-state companies. As these …
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Richard White: Reserves help associations, owners plan for the future Q. I live in a small HOA. In November our board approved the budget for 2010. It included funds for painting, but the painting is not scheduled for three years. The funds are being placed in a line item called reserves for the use of …
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For some, mortgage relief ends up costing more In 2008, Southwest Airlines flight attendant Kevin Parker slammed his shoulder so hard during severe turbulence that he was out of work for months. His lender, Bank of America, allowed him to skip payments on his St. Petersburg home for 90 days. But when Parker sought a …
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Refinancing fails to hit potential The refinancing wave that swept the nation when mortgage rates hit historic lows last year is petering out, leaving behind millions of homeowners who could not qualify for the best rates. Half of the nation’s borrowers have mortgages with rates above 6 percent, even though the average rate on 30-year, …
Second jury finds fault with controversial foreclosure rescue deals In 2005, Thomas Cook told 68-year-old Yolanda Rodriguez that the St. Petersburg company he worked for could help save her home from foreclosure. Instead, Garco Inc. got the deed to the house, and Rodriguez, who was evicted, lost as much as $200,000 in equity. But on …
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Homeowners rent out rooms to stave off foreclosure Reeling from the recession’s one-two-three-punch of job woes, climbing mortgage payments and evaporating equity, desperate homeowners are dipping into a nearby income stream to avoid foreclosure: That bedroom just down the hall. While renting out a room has been around for years, especially in the California’s Latino …
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