Chinese drywall: Florida hasn’t committed to using federal money for repairs [South Florida] The Louisiana Legislature passed a law that allows the state to use $5 million in federal grants to repair homes with tainted Chinese drywall. So far, Florida lawmakers have failed to follow suit. “If Louisiana can do it, why can’t we?” asked …
Category Archives: Legal
The new flipping: short sales [South Florida]
The new flipping: short sales [South Florida] Untold millions of dollars that banks could have recovered from the sale of distressed Florida homes have instead been pocketed as profits by a new breed of property flipper. These flippers target houses on the verge of foreclosure and persuade banks and mortgage companies to accept lowball buyouts, …
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Homeowners left in a lurch after mortgage refinancing checks bounce
Homeowners left in a lurch after mortgage refinancing checks bounce In early April, Jeff Franson refinanced his mortgage, switching it from Chase to SecurityNational Mortgage Co. On a sunny Saturday in early October, as he was mowing the front lawn of his Mokena, Ill., home, a process server drove up and handed Franson papers that …
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Foreclosures crisis caused by investors. And lenders. And politicians. And buyers [Tampa Bay Area]
Foreclosures crisis caused by investors. And lenders. And politicians. And buyers. [Tampa Bay Area] A simple narrative is often used to characterize the foreclosure crisis at the heart of America’s Great Recession: While banks are at fault for approving risky loans, people who lived in the homes are as much to blame. Vanity Fair magazine …
Q&A: How To Rent Your Home From Fannie Mae
Q&A: How To Rent Your Home From Fannie Mae Fannie Mae announced Thursday that it will let troubled homeowners rent their homes instead of losing them through foreclosure and eviction. The new program is aimed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and can’t get a loan modification, …
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Consider these factors before refinancing your home
Consider these factors before refinancing your home Dear Liz: When does it make sense to refinance a home? I have a 30-year, fixed-rate jumbo loan. The loan is just over 2 years old with a rate of 6.5%. Should I refinance to 5.75% with zero points? I make extra payments every month with the intention …
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