Alan Fagan finally figured out who owns his mortgage. He had lost his job, was running up credit cards paying bills, and faced foreclosure. Citimortgage, a division of America’s third-largest bank, services the loan and told him repeatedly it could not modify the terms or offer him a revised repayment plan. Why? The investors who …
Category Archives: Real Estate
Median market value down 49.7 percent from 2006 peak in Boynton Beach’s Boynton Isles
With just 50 houses, all of which have direct access to the Intracoastal Waterway, Boynton Isles is the subject of this week’s installment of our real estate profile series. The neighborhood is situated between South Federal Highway and the Intracoastal in Boynton Beach. None of the homes in Boynton Isles are currently in foreclosure, according …
Hotel investment: South Florida’s Insite Group buys South Beach oceanfront hotel for $61 million
The Weston-based investment group that bought the former Holiday Inn on Fort Lauderdale beach and developed it into the chic B Ocean Fort Lauderdale resort is expanding its buy-and-renovate business to Miami Beach. Insite Group and its London-based partner Cube Capital said they purchased the 251-room Continental Oceanfront South Beach Hotel for $61 million in …
South Florida home sales hit 6-year high in volume but not price
Celebrity name-dropping, Twitter contests, skywriting planes and free grub are all strategies home sellers and real estate agents are using to entice buyers to the closing table in South Florida’s oversupplied and uncertain housing market. The list of marketing gimmicks used to sell houses and condos has grown longer and more eccentric as the real …
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Homeowners build their ideal Hampton house on Siesta Key
Partners in life for 13 years and now partners in a major house-building project, interior designer Sharon Nizolek and investment banker Guy Della Penna recently finished a beautiful coastal home in Sarasota. It reminds them so much of the shingle-style homes of Newport, Cape Cod, Kennebunkport or the understated mansions in the tony villages of …
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Underwater borrower should consider less traditional refinancing
Need some advice on dealing with a homeowners association? Is a short sale your best option for unloading your home? Lawyer and real estate consultant Gary M. Singer will answer your housing questions in this space each Friday. To ask Gary a question, click here. Q: I have a $42,000 mortgage at 8.726%. I want …
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