Retirement plan interrupted When Patty Marquez graduated from the University of Minnesota more than five years ago and moved to Southern California, she thought about buying a house. But with prices already sky-high in the Southland market, “I was scared,” says Marquez, now 31. So she rented for more than four years. But all along, …
Category Archives: Legal
Homeowners with forgiven loan debt get timely tax break
Homeowners with forgiven loan debt get timely tax break Families who lost their homes to the foreclosure crisis this year will have at least one reason for cheer this holiday season: They won’t have to worry about a big tax bill. Shortly before adjourning last week for the year, Congress approved a tax-relief bill designed …
Continue reading “Homeowners with forgiven loan debt get timely tax break”
Foreclosing on Christmas
Foreclosing on Christmas For the Debora family, the holiday season usually means making tamales and opening presents under the Christmas tree. But there’s no Christmas tree this year. Probably no tamales either. The four family members are trying to save their Boyle Heights home from foreclosure. “It doesn’t feel like Christmas,” Maria Debora said in …
The sales pitch was great, but the company fell apart
The sales pitch was great, but the company fell apart Invest in real estate. Make money. Improve neighborhoods. That was the pitch, and it usually started with a ride. Cary McEntee would be at the wheel, steering his black Cadillac Escalade through some of Hampton Roads’ poorest neighborhoods. His brother, Jacques, usually rode shotgun. Potential …
Continue reading “The sales pitch was great, but the company fell apart”
Option ARMs: Next Weakling
Option ARMs: Next Weakling The Bush administration is pushing its plan to help subprime borrowers whose loans are due to reset to higher interest rates next year. But left out of the mix are hundreds of thousands of borrowers with good credit who could face sharp increases in their payments. These homeowners could be the …
Bank of America files foreclosure suit against builder Sterling Communities [South Florida]
Bank of America files foreclosure suit against builder Sterling Communities [South Florida] Bank of America is eager to recover $20.5 million it lent to Boca Raton-based developer Sterling Communities to build a luxury community of single-family homes in Lake Worth. But the giant lender, which filed a foreclosure suit in Palm Beach Circuit Court, is …