Like thousands of local homeowners in their golden years, Rosemary Chandler took out a reverse mortgage in 2005 to help pay her expenses and remain in the Elk Grove home that’s been in her family since the 1940s. The decision worked out fine during her lifetime. But since her death in January 2010, it has …
Category Archives: Real Estate
Vacant North Lake Way lot with Intracoastal frontage sells for $5.17 million
A vacant lakefront lot near Dolphin Road at 1348 N. Lake Way has sold for about $5.17 million, according to a warranty deed recorded Monday by the Palm Beach County Clerk’s office. With 156 feet of frontage on the Intracoastal Waterway, the lot is 253 deep and lies several blocks south of the island’s northern …
Continue reading “Vacant North Lake Way lot with Intracoastal frontage sells for $5.17 million”
West Palm Beach firm rolls out a new loan modification for underwater borrowers
Lenders have long resisted cutting loan amounts for struggling homeowners, fearing it would entice more borrowers to default. But one locally based servicer, Ocwen Financial Corp., believes it has found a solution. The company is rolling out a new loan modification plan for underwater borrowers that lowers the amount owed on the loan – thus …
Continue reading “West Palm Beach firm rolls out a new loan modification for underwater borrowers”
How to Think About Refinancing
Everyone tells me that this blog has become perhaps a mite gloomy over the past few days . . . weeks . . . months. So let’s look at one of the rare bright spots in this financial Twilight of the Gods: mortgage rates. They’re really low. So low that my husband and I, who …
Should you use your insurer’s preferred contractor to repair your car or home?
Should you hire the contractor recommended by your insurance company to repair your home or car after you file a claim? There are some perks, such as discounts or warranties, but there also are drawbacks that consumers should be aware of. Alice Thal, a nursing supervisor in Boca Raton, learned that lesson the hard way. …
Continue reading “Should you use your insurer’s preferred contractor to repair your car or home?”
Fueled by strong demand, Miami condo rents rise in double digits
Strong demand and rapidly diminishing inventory is significantly boosting rental rates in Brickell’s condos, brokers say. “Rents have gone up by 12%-15%,” said Edgardo Defortuna, president of Fortune International Realty. "In our luxury buildings, we used to rent for $1.85-$1.90 a foot. Now it’s $2.20-$2.35 a foot.” In some properties such as Icon Brickell, he said, there’s …
Continue reading “Fueled by strong demand, Miami condo rents rise in double digits”