News about properties and real estate
Bankruptcy filings show deep debt of coastal investors [Alabama] Three of Bon Secour Village’s five developers have filed for bankruptcy, putting the already imperiled Gulf Shores development at further risk and illustrating how south Baldwin County’s burst real estate bubble has hit even the most moneyed investors. Cullman brothers Eddie and Josh Canaday — along …
Continue reading “Bankruptcy filings show deep debt of coastal investors [Alabama]”
Lender can’t assume loan, ask for PMI Q: My mother-in-law’s mortgage was sold to another lender. The new lender is asking for PMI, which was not required by her previous lender. She has more than 50 percent equity in her home. She really cannot afford the PMI. Does the new lender have this right? A: …
Family Narrowly Skirts Foreclosure A close look at a how California homeowners pulled off a short sale. The homeowners: April Reed, 35, a real estate agent, and Eric Reed, 38, an electrician. The home: In October 2005, the Reeds bought a house for $294,000 in Chester, Calif., a small mountain community east of Chico, Calif., …
Continue reading “Family Narrowly Skirts Foreclosure – WSJ.com”
Landlords fall into foreclosure, leaving tenants in shock, lurch In normal economic times, a landlord scrutinizes a potential tenant’s credit score before signing a lease. In today’s chaotic housing market, maybe it’s the tenant who should check out the landlord’s financial stability. Just ask Christy Orris, a single mother who last month signed a lease …
Continue reading “Landlords fall into foreclosure, leaving tenants in shock, lurch”
Two banks square off over former Steffen property The fallout continues to spread over a prominent developer shutting down operations amid financial troubles. Two banks are squaring off over the possible foreclosure and sale of a Midtown building. Business Bank of St. Louis filed suit in St. Louis County Circuit Court to prevent the sale …
Continue reading “Two banks square off over former Steffen property”
Deal maker facing criminal charges Jeffrey J. Lauro was another of those energetic builder-developer deal makers who appeared to have the knack for making millions during Southwest Florida’s real estate boom. People who met him said the 37-year-old entrepreneur was everywhere at once — planning condo projects in Deep Creek, manufactured home projects in Inverness, …