Bank of America paid $1.28 billion to Freddie Mac and $1.34 billion to Fannie Mae last week as part of the settlement. Palm Coast, FL – January 3, 2011 Bank of America (BAC: 14.15 +6.07%) plans to record a fourth-quarter charge of $3 billion after settling repurchase claims brought against the banking giant by […]
Jim Jacoby, founder and chairman of Jacoby Development, bought a tract of land at Marineland in 1999 and bought the 73-year-old attraction in 2001, completing a major renovation of Marineland in 2000. Palm Coast, FL – January 3, 2011 Marineland has sold to the Georgia Aquarium for $9.1 million, according to public records and […]
A summary of important news and events in the Palm Coast/Flagler real estate market during 2010. Palm Coast, FL – January 1, 2011 – Flagler’s 2010 real estate market for single-family homes was a repeat of 2009. The number of homes sold through MLS will end the year within a percentage point or two of […]
Series of articles details how MERS allegedly planned from the get-go to defraud the counties, and the IRS, and the homeowners, and the buyers of the mortgage-backed securities. Palm Coast, FL – December 31, 2010 – GoToby.com has followed the exploding foreclosure documentation crisis for over two years. Still, most people are unaware of the […]
Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS®. Palm Coast, FL – December 30, 2010 – Pending home sales rose again in November, with the broad trend over the past five months indicating a […]
Moody’s Investors Service downgraded another $6 billion of adjustable-rate mortgage residential mortgage-backed securities issued by Wachovia. Palm Coast, FL – December 30, 2010 Moody’s Investors Service downgraded another $6 billion of adjustable-rate mortgage residential mortgage-backed securities issued by Wachovia. The four tranches of securities are backed by option-ARM loans. Wells Fargo Bank is the master […]
Seven Crescent-owned golf courses in Georgia and Florida tagged as ”Under Contract” yesterday. Included are the golf courses only – Excluded are building lots and developable land. Palm Coast, FL – December 29, 2010 – Here we go again. Once more, several Georgia and Florida golf courses owned by Crescent Resources are identified as "Under […]
Several high-end properties are among Palm Coast, Flagler’s scheduled foreclosure sales. Palm Coast, FL – December 29, 2010 – High-end condominiums and building lots in gated communities are often purchased with discretionary funds. The prolonged real estate slump and problems in the financial markets have drained some buyers’ financial reserves. Unable or unwilling to continue […]
A weekly analysis of the economic data released during the past week, and how current economic conditions are affecting the real estate market. Palm Coast, FL – December 29, 2010 – The National Association of Realtors® Research staff now gives you a weekly analysis of the economic data released during the past week, and how […]
Both Ally and Fannie Mae are majority-owned by U.S. taxpayers Palm Coast, FL – December 28, 2010 Ally Financial Inc, the lender formerly known as GMAC, on Monday said it agreed to pay $462 million to Fannie Mae to avoid having to repurchase poorly underwritten mortgages sold to the housing finance giant. Ally, which is […]