real estate news

Homeowners of South Florida are highly likely to receive a delayed notice of foreclosure after the lenders were allowed to revive stalled cases. The lenders are given the opportunity to refile foreclosure lawsuits against homeowners, especially those who are still in default. Last month, the Supreme Court in Florida approved lenders to refile their foreclosure […]

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After Chase Merritt, an investment company, defaulted on a loan worth $89.5 million, two of its office buildings are due for foreclosure. The buildings will be auctioned on January 3, according to reports.  The two buildings cover approximately 215,000 square feet and have a span of 18.5 acres.  The two office buildings cost $15 million, […]

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More than 1,100 homes fell into foreclosure in New York City last October.  Majority of the foreclosures were located in Queens and Brooklyn. Queens has a total of 400 foreclosure cases, a doubled percentage compared to 2015.  Brooklyn has a total of 365 new cases, an increase of 20 percent compared from last year’s foreclosure […]

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The demolition program of Detroit, run by the incumbent Mayor Mike Duggan, will broaden in scope as an investigation is conducted by the federal authorities. The land bank allegedly used $130 million dollars in federal money.  The money was originally allotted for prevention of foreclosures in Detroit. This project, otherwise known as the blight elimination […]

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The Supreme Court in Colorado is mulling over changes to its rules in the courtroom that would increase the consumers’ chance of saving their homes from foreclosure. The a public court hearing was scheduled to tackle modifications to the Rule 120 procedure in the state of Colorado, which provides homeowners the chance to dispute a […]

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Marineland Village, a well-known shopping center in Kennewick, Washington, is slated to be remodeled after certain investors saved it from foreclosure before. The new name of the building is Marineland Plaza, which is getting a revamp sponsored by a group of investors headed by Manuel Chavallo. The group of investors is called Clearwater Professional Suites […]

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People who drive along Scott Avenue in Farmington can see “Close” signs on the doors and windows of Red Lion Hotel. The hotel is in foreclosure that is why it is closed, the city officials said. Red Lion, which has a total of 92 rooms, was previously called Best Western Inn, but its name was […]

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Hart Hotels Inc., a Holiday Inn located near the Buffalo Niagara International Airport, is set to close after 48 years of operation. Other reasons for the hotel’s closure include an obsolete design and influx of new establishments within the vicinity. Hart Hotels has a decade old loan worth $7,737,730, which deteriorated the company’s financial stability.  […]

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A recovery shelter providing aid for the homeless people was on the verge of foreclosure due to financial problems.  Fortunately, a new investor saved the institution from bankruptcy.  Considered as an ‘angel investor’, the shelter will maintain its operations for the foreseeable future. Since Nehemiah Community Reinvestment Fund refused to grant extensions on an outstanding […]

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The Florida Supreme Court decided in favor of mortgage lenders allowing them to resurrect a time barred foreclosure whenever they want.  That means they can pursue a borrower even if the debt is already more than five years old. The court said the statute of limitations is dynamic, not fixed, restarting every month a mortgage […]

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