News about properties and real estate
Assemble across-the-board insurance coverage for your home As some Central Florida homeowners continue to pick up the pieces left from Tropical Storm Fay, others are keeping an eye on Ike and Josephine — and hoping their insurance policies have them covered against every peril. Basic homeowner’s insurance is just that — basic. It doesn’t cover …
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Blaine hotel builders sued Blaine Hospitality faces foreclosure proceedings after defaulting on a $5 million loan to Home Federal Savings. The developer says construction delays are to blame. The developers of a 98-room hotel near the National Sports Center in Blaine are facing foreclosure after defaulting on $5 million in construction financing. Home Federal Savings …
2 payments: No problem In today’s difficult real estate market, many sellers are looking for alternatives to dumping their existing home on a low-ball offer, especially if they’ve already found another home they need or want to go ahead and buy. Renting out the previous home has proved to be a reasonable solution for some …
Restructuring of mortgage loans gets tougher In January, loan analyst Moe Bedard noticed a promising development in the mortgage-servicing industry: More lenders started restructuring distressed borrowers’ loans to avert foreclosure. But in the months that followed, the trend reversed. “Now, it’s even harder to get a modification than it was five months ago,” said Bedard, …
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Some businesses turn housing bust into a boon In South Florida’s real-estate gold rush, the promise of instant wealth drew thousands of players into the local housing market. Cheap money flowed from lenders’ coffers lubricating a vast matrix of builders, sellers and buyers. No credit, bad credit, no problem. The businesses in the middle — …
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South Florida residential market should feel effects of Opera Tower ruling A federal judge’s ruling that threw out dozens of lawsuits claiming a local condo project differed from its advertisement should affect the residential market, experts agree, though they predict varying degrees of impact. A US district judge in Miami this month tossed out 29 …
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