Mortgage meltdown: Orlando-area minorities likelier to take credit hit in distress sales of homes [Central Florida] Distress sales now define Orlando’s still-slumping home market: Two-thirds of all resale closings in the metro area’s core market these days are either bank-owned foreclosures or lender-approved short sales. But the proportion of foreclosures to short sales varies drastically …
Category Archives: Regional
Struggle with bank drags on past a year
Struggle with bank drags on past a year Joe and Dee Setzer, embroiled in a long battle with their lender to modify their mortgage, also narrowly avoided spending thousands with what state prosecutors say appear to be illegal foreclosure assistance firms. The Iredell County couple considered paying $1,290 last September to a Florida firm advertising …
Apartment foreclosure to spike rents
Apartment foreclosure to spike rents Tenants at a low-income apartment complex will see their rents increase by as much as 22 percent now that a Bank of America subsidiary has bought it out of foreclosure. Base rents at Riley Chase apartments, a 312-unit complex off Toledo Blade Boulevard near Interstate 75, had been $475 for …
A Venice builder’s problems … and their ripples
A Venice builder’s problems … and their ripples Florida Community Bank, the bank that had $21 million in loans to Venice home builder Jacques Cloutier, was closed by state and federal regulators on Friday. The Immokalee-based bank was taken over by Miami’s Premier American Bank, which is assuming all its $795.5 million in deposits. The …
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Skiers Buy Vacation Homes as Prices Melt
Skiers Buy Vacation Homes as Prices Melt OVER the holiday season all was snowy and bright at ski areas across the country, with a festive jingle in the air. It wasn’t sleigh bells — it was the sound of money. Vacation-home seekers who saw recessionary opportunities were looking to buy. Many were ready to pay …
Boca Raton 34-year-old charged with mortgage scam has to give up Rolls Royce, Ferrari and more
Boca Raton 34-year-old charged with mortgage scam has to give up Rolls Royce, Ferrari and more A U.S. Secret Service investigation into an alleged mortgage scam run by a 34-year-old Boca Raton man has led to his arrest and seizure of assets including a Rolls Royce Phantom, Lamborghini, Ferrari and 42-foot Fountain racing boat. Jason …