There is a trend among foreclosure attorney to ensure payment from foreclosure clients they represent by having them take out second mortgages on homes they can’t pay for to begin with. Peter Ticktin of the Ticktin Law Group said: "We thought, ‘why don’t we use a bit of ingenuity to find an affordable way to [...]
The Miami Outlet Plaza is now part of the commercial foreclosures list, since a commercial mortgage-backed securities (CMBS) has filed a foreclosure action against it. A couple of days ago Bank of America, representing a CMBS fund submitted a foreclosure lawsuit against OFG Palmetto Glades Center, along with managing members Yves Barroukn and Adrian Green, [...]
Looking at the nation’s ‘seriously delinquent homeowners’ by state map we can find Florida with the highest percentage, according the the Mortgage Bankers Association. The statistics show that 19.52% of Florida borrowers were either three months past due or in foreclosure in the third quarter. Add in borrowers who are 30 and 60 days laze [...]
Trump Hollywood, the 200 unit luxury condominium project in Hollywood was foreclosed by its lenders. This is how they ended an almost two year debt restructuring by developer Jorge Perez Related Group of Florida. Related Group held a total of $2 billion in troubled loans and the the $225 million mortgage on the 41 story [...]
AREA Property Partners and Wood Partners paid $42.3 million for the 324-unit Terrazas River Park VIllage along the Miami River which was returned to lender iStar Financial, the court records say. The price of the 354,000 square feet of residencies was approximately $119 per square foot, Condo Vultures Realty says. Peter Zalewski, the Managing Principal [...]
Lower home prices and record low mortgage rates helped Miami home sales finally climb 21% in the third quarter of this year, indicating that the market is finally in a rebound from its long downturn, the Miami Association of Realtor believes. This increase marks nine straight months of rising sales for the area, which suffered [...]
Devonaire condominium, a Deaktor development is headed for auction in Broward County Circuit Court. The reason is pretty obvious: sales were down, so they couldn’t sale all units of the complex. The remaining 68 units in Pembroke Pines were a subject of a $43 million foreclosure judgement. The foreclosure suit against Windsor at Pembroke Cay [...]
The unsold units of Residences at the Falls condo-conversion project in Kendall were sold to a Miami investment group. This is good news for the complex located at 13888 S.W. 90th Ave. in southern Miami-Dade County since the road of these units was long and windy. First of all the complex was dreamed and finished [...]
A group of investors coming from North Miami want to take over 138 condo units in Miami after they purchased three problem loans. The investors – grouped under the name of CKS Ventures – headed by Howard Shidlowsky, purchased the loans from Israel Discount Bank of New York and filed two separate lawsuits on October [...]
South Florida homeowners have filed lawsuits against three major banks and they demand their properties back not just compensation for what they say were illegal foreclosure. The compliant was filed this last week in US District Court in Miami, but the bad news is highly unlikely the courts would force out new owner of these [...]
