Category: Florida

Florida housing market

NAR President Says Home Prices Going Up

By Mike Colpitts The new president of the National Association of Realtors says that home prices have gotten so low there’s only one way for them to go – up. “People realize that homeownership is an investment in their future. Given an apparent over correction in most areas, over the long term home prices have… Continue reading NAR President Says Home Prices Going Up

Petition to Halt Strategic Defaults Launches

By Ryan Jackson A Florida loan officer angered by bank representatives telling homeowners to default on their underwater mortgages in efforts to be granted bank assisted short sales has started a petition drive to halt the massive movement. Pam Marron, a loan officer in Tampa, Florida for 27 years has posted the petition online at… Continue reading Petition to Halt Strategic Defaults Launches

Foreclosures Drop But on Pace to Hit Record

By Mike Colpitts Foreclosure filings dropped a slim 2% in February, but are still on pace to hit a new record volume for 2012, despite an increase in short sales by lenders on homes in default of their mortgages, according to RealtyTrac. February foreclosure activity in the 26 states with judicial foreclosures rose 2% from… Continue reading Foreclosures Drop But on Pace to Hit Record

60 Minutes Whistleblower Gets $18 Million

By Mike Colpitts A Florida attorney, who was one of the first in the nation to be a whistle blower in the banks robo-signing scandal by exposing her own foreclosure to public ridicule, will be paid $18 million to settle claims over the 2009 botched foreclosure of her condominium unit. West Palm Beach attorney Lynn… Continue reading 60 Minutes Whistleblower Gets $18 Million

U S Foreclosures Drop Huge

By Mike Colpitts Formal foreclosures or homes that were repossessed by their lenders accounted for 830,000 U.S. homes in 2011, a huge drop of 24% from 2010, according to real estate data research firm CoreLogic. The decline comes as a result of moratoriums enacted by the nation’s five largest mortgage lenders to study damage from… Continue reading U S Foreclosures Drop Huge

Three Mortgage Officers Sentenced to Federal Prison

By Mike Colpitts Three mortgage officers and a title agent have been sentenced to federal prison for their parts in a nationwide reverse mortgage fraud scheme that lasted nearly a year, and took advantage of dozens of senior citizens, taking in more than $2.5-million. Louis Gendason, 42, was sentenced to 70 months in federal prison… Continue reading Three Mortgage Officers Sentenced to Federal Prison

Real Estate Markets Most Likely To Recover

The five most likely U.S. metropolitan real estate markets to recover in 2012 are demonstrating signs of economic recovery in at least a couple of areas, despite the troubled U.S. economy. However, there are few other similarities aside from growing employment and a climate for change. A sense of cautious optimism prevails in Miami, Florida… Continue reading Real Estate Markets Most Likely To Recover

SEC Charges Bank CEO with Misleading Investors

By Mike Colpitts Almost five years after the housing market collapse, the Securities and Exchange Commission (SEC) charged a bank CEO with misleading investors about growing problems over its real estate loan portfolio. The SEC said BankAtlantic Bancorp CEO Alan Levan made misleading statements in public filings and earnings calls in order to hide the… Continue reading SEC Charges Bank CEO with Misleading Investors