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. …
Category Archives: Real Estate
Florida is ‘ground zero’ in drama
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 …
Homeowner dream turned nightmare [Virginia]
Homeowner dream turned nightmare [Virginia] They are a fairly typical Loudoun family. He is a 35-year-old engineer for a technology company in Fairfax, pulling in $80,000 a year. His wife teaches yoga. College-educated, they have two daughters: a 5-year-old and a newborn. In August 2005, the housing market in Northern Virginia is piping hot. The …
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Florida business owners might see tax relief
Florida business owners might see tax relief Owners of small apartment buildings and mom-and-pop businesses who have faced massive increases in their tax bills could see some relief under a plan that is moving swiftly through the Florida Legislature. A bill passed 13-0 by the House Government Efficiency & Accountability Council Wednesday would change the …
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Condo converter’s debts pile up [South Florida]
Condo converter’s debts pile up [South Florida] Warren Hickernell looked like the boldest contrarian in the Southwest Florida real estate market last year. He spent millions changing motels and apartment buildings into condominiums long after the conversion trend seemed spent. But with banks foreclosing on six of his 18 conversion projects — demanding repayment of …
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Builder allows customers to use forfeited deposits
Builder allows customers to use forfeited deposits Frenzied flippers have walked away from contracts to purchase homes as the real estate market has slowed across Florida. In their dust, they’ve left behind cash. Rather than keep the cash, Taylor Woodrow is offering other buyers the opportunity to use forfeited deposits toward the purchase of a …
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