Clearwater house flipper Mark Lepzinski gets 13 months in prison for mortgage fraud Calling him “a good example of why we are in an economic crisis,” a federal judge on Thursday sentenced Clearwater house flipper Mark Lepzinski to 13 months in prison for lying on applications for loans he knew he couldn’t afford. “It’s simple …
Category Archives: Real Estate
‘Short sales’ help Hawaii homeowners get rid of their houses to avoid bankruptcy
‘Short sales’ help Hawaii homeowners get rid of their houses to avoid bankruptcy When Aloha Airlines shut down a year ago, Ron Verderame knew he had to escape the weight of a hefty year-old mortgage. The pilot faced a slumping real estate market and bleak job prospects, but finally, after trying for seven months to …
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Condos forced to revert to apartments to survive [North Florida]
Condos forced to revert to apartments to survive [North Florida] When a developer converts a building into condominiums, it’s taken as a sign of prosperity and success. And when the wheels fall off the real estate market and condominiums languish back into apartments, it’s the opposite. Those condominiums are “fractured.” In Jacksonville, more condominium owners …
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At least four South Florida home builders are finding ways to buck the downturn [South Florida]
At least four South Florida home builders are finding ways to buck the downturn [South Florida] Home-building success stories are rare these days but not unheard of. Several builders in South Florida are attracting buyers by focusing on first-time homeowners, Baby Boomers and people who want a village where they can live, work and play. …
Miami Condo Colossus Is Monument to Excess
Miami Condo Colossus Is Monument to Excess Icon Brickell, a new condominium complex in downtown Miami, was intended to be Jorge Perez’s answer to the Time Warner Center, the massive mixed-use building developed in Manhattan by his longtime business associate, Stephen M. Ross. Mr. Perez, the chairman of the Related Group (an affiliate of Mr. …
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Turn the foreclosure tables
Turn the foreclosure tables On Thursday, the Mortgage Bankers Association reported that Florida ranks third in mortgage delinquencies, second in foreclosures started and first in foreclosure inventory. At year’s end, 22 percent of mortgage borrowers were at least a month behind on payments. Everyone pays, directly and indirectly, for these often vacant, blighted foreclosed properties. …