foreclosure

South Florida's Condo Market
8:25 am
Fri February 22, 2013

In Miami, A New Condo Boom Revives Hopes Of Housing Recovery

Brickell CityCentre is a new project that includes retail, offices and two condo towers. In all, some 19 condo towers are going up in downtown Miami, just seven years after the housing market crash.
Greg Allen NPR

Originally published on Fri February 22, 2013 8:07 am

Here's a headline that may sound familiar: Miami is in the middle of a condo boom.

Just seven years ago, Miami had a similar surge in condo construction. But it all came crashing down. There was an international banking crisis, and the Florida real estate bubble burst — taking down investors and many developers.

But new towers are once again reshaping the city's skyline.

Peter Zalewski, a real estate consultant with Condo Vultures, says 19 condo towers are now in the works in Miami, with 7,000 total units.

Read more
Housing
6:45 am
Mon February 4, 2013

Foreclosure Process Hammers Florida's Housing Market

FORECLOSED IN THE 305: Florida's balky legal process has given it the highest foreclosure rate in the U. S.

A decade ago, speculators in Florida were pumping up a huge housing bubble.

"You couldn't go wrong," Tampa real estate attorney Charlie Hounchell says. In that overheated period from 2001 to 2006, "you could buy a house and make $100,000 a year later by selling it," he says.

But the party ended in 2007 and the hangover persists. The state now has the highest foreclosure rate in the country, beating out Nevada for the first time in five years.

Read more
Mortgage Settlement
7:00 am
Mon January 28, 2013

Floridians Get More Money For Mortgage Assistance

Attorney General Pam Bondi announces $60 million from a national mortgage settlement is now available for additional assistance to Floridians.
Credit Jordan Michael/WLRN

An additional $60 million in assistance from a national mortgage settlement is now available to Floridians who lost their homes due to unfair foreclosure practices.

Attorney General Pam Bondi announced how the money will be used.

Read more
Mortgage Mess
11:35 am
Mon January 7, 2013

Big Banks Agree To Pay $8.5 Billion To Settle Foreclosure-Abuse Claims

April 2011: A foreclosure sign in front of a home in Richmond, Calif.
Justin Sullivan Getty Images

Originally published on Mon January 7, 2013 6:26 pm

Ten of the nation's major mortgage servicing companies, including household names such as Bank of America and Citibank, have agreed to pay $8.5 billion to resolve claims that they abused some homeowners when they foreclosed on mortgages during the recent housing crisis, the Federal Reserve and the Comptroller of the Currency announced late Monday morning.

Read more
Foreclosure Crisis
7:00 am
Mon January 7, 2013

Florida's Mortgage Mess: There Is Hope

Credit Robert Lyle /WLRN

With hundreds of thousands of homes already foreclosed in Florida--and eight percent of current mortgage holders delinquent--you’d think that thousands of people would be flocking to get help.

Yet when Wells Fargo Bank invited an average of 14,000 of its troubled mortgage holders to four Home Preservations Workshops it held across the state, fewer than 300 showed up each time. 

“People are scared, ” says Barry Zigas, housing policy director for the Consumers Federation of America.

Read more
Foreclosure Crisis
8:30 am
Fri January 4, 2013

Florida's Mortgage Mess: Options

Some people facing foreclosure have fewer options than others.
Credit Robert Lyle /WLRN

All this week, we've been looking at the continuing foreclosure crisis sure crisis in Florida. Today, we check in back in with one woman who fears losing her home.

While there are many federal, state and private bank programs to modify troubled mortgages, each requires the lender to agree.

Unlike the more than 260 lenders in Florida who are helping, Marla Popkin’s mortgage holder won’t. Popkin is an Occupational Therapist in Miami. Work is slow and she has come into some rough times. Now she's trying to save her home. 

Read more
Foreclosure Crisis
6:00 am
Thu January 3, 2013

Florida's Mortgage Mess: When Help Is At Arm's Length

Sometimes lenders are hesitant to take on government programs that could help foreclosure victims.
Credit Robert Lyle /WLRN

Florida pops to the top of the list anytime someone mentions home foreclosures.

The federal government and the major banks are trying to help people modify mortgages so they can stay in their homes. But those programs frequently come with caveats and conditions.

Read more
Foreclosure Crisis
6:00 am
Wed January 2, 2013

Florida's Mortgage Mess: Among The Worst In The U.S.

Florida's mortgage issues are widespread.
Credit Jeff Turner /Flickr

For the last three months, Florida has led the nation in the number of homes in some stage of foreclosure.

But that is only the tip of the iceberg. Since the start of the recession, the foreclosure crisis has been a horror story for the Sunshine State.

Read more
Housing
9:08 am
Fri December 21, 2012

S. Florida Leads In Foreclosure, Delinquency

FORECLOSED IN THE 305: The crisis is worst in South Florida.

The Miami-Fort Lauderdale-Pompano Beach metro area remains on the bleeding edge of the nation's still-critical foreclosure problem, according to new rankings from the Center for Housing Policy. It has, by far, the highest rate of  homes in foreclosure -- but the rest of the state is not far behind.

In the 13 metros with the highest percentages of homes in foreclosure, only one is not in Florida. It's number two.

Read more
Foreclosure Crisis
9:30 am
Tue November 20, 2012

Mortgage Companies Give Florida $3.6 Billion For Bad Deals

Mortgage servicers have handed over $3.6 billion to homeowners in Florida hurt by bad practices.
Credit 401(K) 2012 /Flickr

Florida's Attorney General Pam Bondi announced that five of the country's biggest mortgage companies are forking over $3.6 billion dollars for "foreclosure abuses and unacceptable mortgage servicing practices," which spurred the state's foreclosure crisis.

Read more
Housing Crisis
10:56 am
Wed October 24, 2012

ProPublica: State Lawmakers Are Holding Up $300 Million Meant to Help Homeowners

Florida's is sitting on $300 million meant to help homeowners.
401(K) 2012 /Flickr

ProPublica reports that $300 million awarded to Florida through a settlement over bad mortgages and foreclosures remains untouched. 

That money is meant to help homeowners in Florida that were hurt by the state's housing crisis.

Millions of dollars were given to individuals and state governments by big banks accused of wrongful foreclosures and other mortgage servicing abuses.

Florida got the biggest sum of money-- besides California-- because the state was wracked by the housing crisis.

Read more
Foreclosure Settlement
8:02 am
Tue October 16, 2012

Foreclosure Settlement Will Rain Checks On Thousands In South Florida

Sign Of Anger: Banks are finally settling with people who lost their homes to sometimes questionable foreclosure methods.
Credit SEIU International

There's been a big consumer protection settlement for people who lost their homes to foreclosure and checks could be on the way early next year. Did you lose your home to foreclosure? And was your mortgage serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo?  The Sun-Sentinel is reporting you may be eligible for a $2,000 check.

Read more