Second lien holders are demanding side payments (not on HUD) to release liens so short sales can be completed. And their doing it without telling first lien holders. Palm Coast, FL – January 15, 2010 – Some large banks are flouting the law by demanding cash payments to release second liens before a short sale […]
The team of Wilson Greene, Jim Matoska, Craig Wheeler, John Pinter, Jennifer Kelly, and Sean Barrett gone but Jeff Davis is in. Palm Coast, FL – January 14, 2010 – The Cliffs Communities apparently has an affinity for former Ginn Company sales executives. All formerly associated with Ginn, the team of Wilson Greene, Jim Matoska, […]
Federal mortgage backer eases lending rules on Florida condo complexes that may not have met previous lending standards. Palm Coast, FL – January 12, 2010 Jan 09, 2010 (The Orlando Sentinel – McClatchy-Tribune Information Services via COMTEX) In hopes of reviving one of the nation’s hardest-hit condominium markets, the giant mortgage backer Fannie Mae is […]
A difficult year is over. Signs are that 2010 will be better. Palm Coast, FL – January 10, 2010 – The Palm Coast, Flagler real estate market performed pretty much as expected in 2009. The low end of the market for homes was dominated by low-priced distressed properties, but buyers at that level are abundant; […]
New York Judge approves final settlement of $425 million foreclosure on Ginn’s $4.9 billion project in the Bahamas. Palm Coast, FL – January 8, 2010 – The New York Supreme Court has approved the settlement of Credit Suisse’s foreclosure action against real estate developer Ginn-LA’s (Bobby Ginn and financial partner Lubert Adler) $4.9 billion mixed-use […]
CS allegedly extended predatory loans to Ginn sur Mer, Lake Las Vegas, Tamarack, and Yellowstone Club in order to gain control once they defaulted. Palm Coast, FL – January 6, 2010 – Credit Suisse Bank and real estate service firm Cushman & Wakefield defrauded developers and property owners at four luxury resorts; Ginn sur Mer […]
Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year Washington, January 05, 2010 – Contract activity for pending home sales fell after a surge of activity in preceding months to beat […]
An article in the St. Petersburg Times points out the problems; investigations are paperwork and labor intensive. Investigative agencies are short staffed. Fraud is hard to prove. Palm Coast, FL – January 4 – GoToby has been reporting on mortgage fraud for nearly three years as evidence grew that mortgage fraud was a major contributor […]
Members get Quail West’s two courses and clubhouse debt-free. Both Tesoro courses and clubhouse are open with help from developer subsidies. Palm Coast, FL – December 31, 2009 – Two golf course communities once owned by Ginn-LA (Bobby Ginn and financial partner Lubert Adler) were sold at a bankruptcy auction this year. The developer owned […]
In January 2010, one birth is expected to occur every eight seconds in the United States and one death every 12 seconds. Palm Coast, FL – December 29, 2009 – From the U.S. Census Bureau in Washington DC: On the eve of the 2010 Census, as the Census Bureau prepares to conduct an actual count […]