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.
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.
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.
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.
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.