News about properties and real estate
The cat’s out of the bag as to names of delinquent neighbors Q: We have been advised that two owners in our condo association have not paid their assessments. Their names and addresses were listed in the notice sent to all owners. We were advised the board has spent over $8,000 in legal fees for …
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CDD defaults may be disaster for a swath of homeowners [Tampa Bay] More than 50 of Tampa Bay’s community development districts are in or near default, a condition that could have serious ramifications for thousands of homeowners across Tampa Bay and accelerate the decline of already troubled Florida banks. Developers use CDD bonds, or “dirt …
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Reason not to foreclose quickly Q: In today’s real estate market it may not be wise to foreclose. Lien, yes. Against my opinion, my board foreclosed and now is responsible for trying to sell a home in the community of 1,100 homes. The board, of course, is footing the bill for upkeep and paying all …
Banks Take Losses on Short Sales as Foreclosures Soar Drew Schlosser tried for two years to sell his three-bedroom Punta Gorda, Florida, waterfront condominium for less than he owed on its two mortgages. The deal only went through last month when Wells Fargo & Co. agreed to take a $165,000 loss on the loans. Even …
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Give a Home for the Holidays ‘Tis the season of giving. But if you’re tired of the offerings at the mall, why not consider giving your children something grander, like the gift of a down payment to buy a home—or even a home itself? Uncle Sam encourages such generosity, at least within limits (the IRS …
The Real Estate Wonk: Careful whom you call for mortgage help If someone offers to help modify your mortgage for the low-low upfront fee of $3,500, run for the hills. That was the state of Maryland’s advice Tuesday as it issued cease-and-desist orders to five loan-modification companies, firms it alleges took that sort of money …
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