News about properties and real estate
From a Maine House, a National Foreclosure Freeze The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. In the driveway is a busted pickup truck. No one who lives there is going anywhere anytime soon. Nicolle …
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Wells Fargo to aid Pick-a-Pay mortgage borrowers Wells Fargo agreed to provide about $67 million in mortgage relief to up to 700 New Jersey homeowners who have so-called Pick-a-Pay adjustable-rate mortgages, New Jersey Attorney General Paula T. Dow said today. The loans, also known as Pick-a-Payment mortgages, allowed the borrower to choose monthly mortgage payments …
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Lost in the System That Took the House [Central Florida] Luis Fernandez’s foreclosure documents never looked quite right. Critical papers regarding his Orlando home were missing dates, and some signatures appeared to him to be forged. The mortgage had been sold so often — including once in the middle of the foreclosure process — that …
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Special districts struggle against tide of defaults [South Florida] Waterlefe Golf and River Club developer WCI Communities Inc. went bankrupt in the thick of the real estate bust, leaving residents promises that no drastic changes would occur. That didn’t prove to be exactly true. Waterlefe’s golf course was built in 1999 with a $9.5 million …
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Housing: FHA may slash upfront costs of some reverse mortgages The Federal Housing Administration isn’t talking publicly about it, but the agency may be getting ready to cut the upfront costs of reverse mortgages for some borrowers. The agency also, however, may be reducing the amount seniors can borrow against their homes. In a recent …
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A few doors down from the imposing stone facade of the Abyssinian Baptist Church on West 138th Street, one the most important activist churches in Harlem, a new condominium development is about to go on the market including market-rate penthouses, with open stainless-steel kitchens, granite counters, and terraces, priced up to $970,000. But rather than …