Chicago, Illinois developers MCZ/Centrum Florida XIV LLC are facing a condo foreclosures case at the Circuit Court of Manatee County in Florida. The case was filed by Bank of America (BOA) accusing the developers of defaulting the almost $44.8 million in loans they used to purchase the condominium complex, Serenata Sarasota located in the southern [...]

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Job Loss, Price Decline Push Up FHA Foreclosures
Industry experts are pointing to the worsening labor market condition and dropping home prices as factors that will likely trigger a flood of FHA foreclosures. They said that these factors are contributing to the growing number of loan defaults and delinquencies. The increasing number of foreclosures means trouble for the Federal Housing Administration (FHA), an insurance [...]

Stricter Condo Lending Rules to Avert Government Foreclosures
The languishing economy and rising unemployment rate are driving the number of government foreclosures to the roofs. As part of an effort to address the growing foreclosure problem, the U.S. Federal Housing Administration (FHA) has tightened its rules on condominium lending.

This entry was posted on Sunday, October 25th, 2009 at 11:22 pm and is filed under Washington Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.