Items Tagged with 'Florida'

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Remember Florida’s foreclosure crisis? Residents do as they head to the polls

Florida heads to the polls
The country once again finds itself closely watching Florida as residents head to the polls in a state that could decide the election. Less than a decade ago, however, the country instead was watching the state fall apart due to a heaping amount of homes going into foreclosure. So how is this impacting voters?
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WCI Communities doesn't find better offer; $643M merger with Lennar to move forward

"Go shop" period expires, but deal isn't done yet
When WCI Communities, a “lifestyle community developer and luxury homebuilder” headquartered in Florida, announced last month that it agreed to a “definitive merger agreement” with fellow homebuilder Lennar for $643 million, the company said that its board was going to take a 35-day “go shop” period to seek a better deal. Now, the 35-day “go shop” period is over and the merger with Lennar is moving forward, but it’s not a done deal yet.
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Monday Morning Cup of Coffee: Hurricane Matthew causes billions in insured property losses

Fannie, Freddie offer relief to hurricane victims
Hurricane Matthew's sweep through the Southeastern coastal states left behind billions of dollars of damage, according to CoreLogic’s estimates. The GSEs are once again offering disaster relief to those whose homes were destroyed. Plus, St. Louis found a new way to create affordable housing for teachers.
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Lennar agrees to buy luxury homebuilder WCI Communities for $643 million…or does it?

Agreement includes provision that allows WCI to seek better offer
WCI Communities, a “lifestyle community developer and luxury homebuilder” headquartered in Florida, announced this week that it agreed to a “definitive merger agreement” with fellow homebuilder Lennar for quite the premium, but the company is seeking out a better deal.
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Florida court upholds city's rights to place liens on zombie homes

Cities' liens on foreclosed properties aren't extinguished when home is sold
In a move that should help municipalities within the state of Florida fight against the state’s glut of zombie foreclosures, a state appeals court ruled recently that liens placed on foreclosed homes by the city are not discharged when the home goes through a judicial sale. Here's a closer look at the decision.
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Florida senators want "slumlords" held accountable for public housing conditions

Sens. Marco Rubio and Bill Nelson introduce bill to change HUD rules
Florida's senators are deeply concerned about the living conditions for some of the state's residents who live in federally subsidized housing and they want the government to do more to hold the properties' owners accountable. The senators say the move is in response to the "deplorable" living conditions discovered in several federally subsidized housing developments in Florida.
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Florida pastor found guilty of mortgage fraud

Facing maximum sentence of 90 years in jail
A Florida pastor is facing as much as 90 years in prison after being convicted of defrauding multiple mortgage lenders, the U.S. Attorney’s Office for the Middle District of Florida announced Monday. Here are the details of the case of Nelson Cristiano Machado, Jr.
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