News about properties and real estate
Canarsie, Brooklyn – Homey, but No Haven From Hard Times Even years ago, back when she rented in East Flatbush, Ismay Gardner knew she liked Canarsie, a quiet suburban community on Brooklyn’s south shore with row upon row of detached houses and neat lawns. When she decided to buy a house, Canarsie was the first …
Continue reading “Canarsie, Brooklyn – Homey, but No Haven From Hard Times – NYTimes.com”
New lender rules on ‘buy-and-bail’ to help, and hurt A crackdown by mortgage lenders on a fraudulent practice known as “buy-and-bail” could make it more difficult for law-abiding homeowners to take advantage of today’s depressed market. The scheme involves owners telling the lender on a new home that they plan to keep their old one …
Continue reading “New lender rules on ‘buy-and-bail’ to help, and hurt”
Housing Pain Gauge: Nearly 1 in 6 Owners ‘Under Water’ The relentless slide in home prices has left nearly one in six U.S. homeowners owing more on a mortgage than the home is worth, raising the possibility of a rise in defaults — the very misfortune that touched off the credit crisis last year. The …
Continue reading “Housing Pain Gauge: Nearly 1 in 6 Owners ‘Under Water’”
Palm Ballroom in Palm Beach Hotel aiming to avoid foreclosure sale [South Florida] Just last year, the Palm Ballroom’s cypress ceiling covered cabaret shows and big-name acts like The Drifters. Today, the dusty space within the Palm Beach Hotel looks like it last boogied in the 1920s, when the ballroom was built. Absent a $3.26 …
Financial advisers answer your questions Question: I currently have 3 properties all with separate mortgages but with the same lender. If I was unable to continue paying on all 3 and decided to give the deed on one of the properties back to the lender, but continued to remain current on payments on the other …
FHA borrowers are soon Dear Mr. Myers: We started looking for a house to buy in August, and a mortgage broker preapproved us for an FHA loan. We haven’t found a home that we like yet, but the broker called us last week to say that FHA loan costs are going to rise. Is this …