News about properties and real estate
Sides in $300 million land deal head to arbitration [South Florida] Palm Beach Aggregates’ $300 million deal to sell 1,210 acres west of the village to Lennar Homes could be in trouble. And one of the key individuals who made the deal possible – convicted former County Commissioner Tony Masilotti – might have to testify …
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Collapse of lender taints Lee builder [South Florida] Some first home buyers sue for fraud A Michigan credit union has collapsed following hundreds of questionable loans to people buying First Home Builder houses in Lee County. Meanwhile, some buyers have filed suit against First Home, the credit union and others — alleging fraud and conspiracy …
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Taxes, debt shadow Extreme Home Makeover family They struggle with higher bills, IRS rules, mortgage on their former house. Their house is brand new, five times bigger than the old one, and the furnishings inside are deluxe — all for free. Troubles appeared to be over for Jesus and Michelle Jacobo and their extended family …
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Foreclosure pain spreading in Lower Hudson Valley [New York] A home foreclosure would rank on anyone’s list of most traumatic financial experiences, right up there with a job loss, sky-high medical bills or an IRS notice for back taxes. The pain of losing a home is hitting hundreds of people in the Lower Hudson Valley, …
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Be careful with reverse mortgages South Florida is one of the hottest markets in the nation for reverse mortgages. And yet, these types of loans — which allow people age 62 and older to get payouts on the equity in their homes — are more expensive in South Florida than many areas of the nation. …
Florida is ‘ground zero’ in drama Foreclosures in Manatee, Sarasota and Charlotte counties have doubled in the last year, and some experts think they will likely double again before the region and nation sort out the current mortgage morass. The rate of foreclosure in Florida was double the national average in February, according to data …