Fort Lauderdale Living

Americas On The Park #1503

2009-02-06T22:16:00.001-05:00

Americas on the Park CondominiumWalk to Fort Lauderdale Beach Cafes & ShopsApprox 82 Units – Built 1977 –18 FloorsSecurity Guard at Gated EntryPool with Intracoastal ViewsRental Boat Slips to 45 Ft VesselOne Car Secured Garage Slip – Guest Parking AlsoApprox 2623+/- Sq Ft Living AreaRecreation Room with KitchenEast Views – Views Intracoastal & Inlet & OceanHurricane “Impact” Glass

Commercial Hard Money Loans

2009-01-18T13:26:00.000-05:00

Hard money loans are a specific type of asset-based loans. In this type of loan, a borrower receives funds that are secured by the value of a parcel of real estate. These loans are paid back with a higher interest rate than conventional commercial or residential property loans. This type of loan is rarely, if ever, issued by a commercial bank or other deposit institution. Hard money loans are

The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

2009-01-18T13:11:00.002-05:00

Posted on January 16th, 2009 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down wholesale mortgage lending but kept retail and correspondent alive. I believe this hasty move is a result of the terrible

Lagging economy hits Palm Beach as homes languish a little longer on market

2009-01-13T08:41:00.001-05:00

By MEGAN V. WINSLOW, Daily News Staff WriterSaturday, November 22, 2008Megan V. Winslow(enlarge photo)211 Tangier Ave.: Listed for $10.95 million, 478 days on the market. View more PB homes on marketPalm Beach has enjoyed a hearty share of eye-popping home sales figures this year, including closings of $77.5 million and $95 million.And according to a fall 2008 residential market report from Brown

Mediators foresee gloom, doom in condo industry

2009-01-11T09:57:00.000-05:00

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Super-yacht for sale, one formerly carefree owner

2009-01-11T09:46:00.000-05:00

A host of boats are on the market, offered by a select group of brokers whose clients can pay £50m or more for a yacht moored in Monaco or Monte Carlo. There they entertain corporate contacts and throw parties where Hollywood actors rub shoulders with politicians and sports stars. They include the Ultima III, owned by US investor Ron Perelman, once the world's richest man, who made much of his

Grand Intracoastal Estate - The Landings

2009-01-09T19:30:00.015-05:00

INTRACOASTAL ESTATETHE LANDINGSNE Point Lot Home - 265 Ft Waterfront125 Ft Protected Dockage for the Mega-YachtArchitect: Benedict GroupBuilder: Rankin/Gravett Group8400 Square Feet Living Area11,000 Total Square FeetThe Ultimate in Materials and CraftsmanshipTravertine Marble with Granite Inlaid FloorsTravertine Marble with Granite Pool Deck and DockLutron One Touch Complete Automation: Lighting

325 Seven Isles Dr - Las Olas

2009-01-03T19:39:00.007-05:00

Seven Isles Community:24 Hour Patrol & Manned Guard House - One EntryOptional Homeowners Association - $250 QuarterlyWalk or Bike to Beaches and Las Olas MerchantsRenovated Waterfront Home with a Tropical CharmLiving Area has a Fireplace and Wet BarSaturnia and Hardwood FloorsSeperate Master Wing overlooks WaterwayGuest Suite Wing has Private Staircase and Sitting RoomEat-In Kitchen with Granite

2424 Barcelona Drive - Fort Lauderdale

2009-01-03T19:12:00.005-05:00

Seven Isles Community:24 Hour Patrol & Manned Guard HouseOptional Homeowners Association - $250 QuarterlyWalk or Bike to Beaches and Las Olas MerchantsMini Great Room:Neutral Tile Floors - Media CenterFlowing Entertainment Area Overlooks WaterKitchen:Granite Tops - Gas CookingStainless Steel AppliancesEat-In Breakfast BarBedroom Wing Overlooks PoolUpdated BathsS-Tile RoofDeep Lot means Lots of

Double dipping rises despite outrage

2008-12-28T21:11:00.000-05:00

TALLAHASSEE — This year some of Florida's public officials are giving a whole new meaning to the phrase "home for the holidays.''It's a new crop of double dippers, taking advantage of a loophole in state law that allows them to "retire'' by taking 30 days off and return to work in their old jobs with a salary and a pension. Many also collect a lump-sum "retirement'' payment that can reach

Refinance rates low; few qualify

2008-12-26T23:45:00.000-05:00

Interest rates may have reached their lowest level in nearly 40 years, but that doesn't necessarily spell relief for South Florida's struggling homeowners. BY MONICA HATCHER mhatcher@MiamiHerald.com WASHINGTON – The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes.The plan announced by IRS Commissioner Doug Shulman would speed up a process where financially distressed homeowners may request that a federal tax lien be made secondary to liens by the lending institution

Fort Lauderdale approves Air & Sea Show's return for 2010

2008-12-17T09:57:00.001-05:00

By Brittany Wallman South Florida Sun-Sentinel December 17, 2008F0RT LAUDERDALE - When the Air & Sea Show was new to Fort Lauderdale Santa, Belushi and more top lineup for 37th annual event in Lauderdale

George Washington, Farewell Address, September 17, 1796:

2008-12-11T00:08:00.001-05:00

As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible.

Marcus Tullius Cicero 106 BC to 43 BC:

2008-12-11T00:07:00.000-05:00

The budget should be balanced. Public debt should be reduced. The arrogance of officialdom should be tempered, and assistance to foreign lands should be curtailed, lest Rome become bankrupt.

Thomas Jefferson

2008-12-11T00:02:00.002-05:00

Yes, we did produce a near-perfect republic. But will they keep it? Or will they, in the enjoyment of plenty, lose the memory of freedom? Material abundance without character is the path of destruction.

Yuan's slide no power game

2008-12-10T11:31:00.002-05:00

Yuan's slide no power gameBy Antoaneta BezlovaBEIJING - Recent downward movements of the Chinese yuan have been interpreted in Beijing as political statements aimed at the incoming administration of US president-elect Barack Obama indicating that it should respect China's sovereignty rights on the currency issue.Obama, when a candidate for the US presidency, accused China of keeping the value of

Title attorney latest charged in mortgage scam

2008-12-10T08:40:00.001-05:00

By Jeff Ostrowski Thursday, December 4, 2008, 03:53 PM A Boca Raton title attorney has been charged with one count of mail fraud after selling a home to a player in a wide-ranging real estate scam that involved dozens of properties in Palm Beach County.Marni Belkin, an attorney who ran Fortune Title Services in Boca Raton, was charged Nov. 21 with using a bogus loan application to sell a home in

Locals pour more and more of their income into mortgages

2008-12-10T08:28:00.003-05:00

By ANDREW ABRAMSON and CHRISTINE STAPLETONPalm Beach Post Staff WritersMonday, December 08, 2008The golden rule of not spending more than 25 percent of your income on housing no longer applied for nearly four of every 10 mortgage holders in Palm Beach County in 2007, Census figures show.That number probably is higher now and likely to grow even more before getting smaller, housing analysts say."

Treasury Bills Trade at Negative Rates

2008-12-09T21:55:00.002-05:00

Form Bloomberg: Treasury Bills Trade at Negative Rates as Haven Demand Surges (hat tip Justin) Treasuries rose, pushing rates on the three-month bill negative for the first time ... The Treasury sold $27 billion of three-month bills yesterday at a discount rate of 0.005 percent, the lowest since it starting auctioning the securities in 1929. The U.S. also sold $30 billion of four-week bills today

The CRE Bust: Quick Overview

2008-12-09T21:52:00.001-05:00

This post is a summary of recent commercial real estate (CRE) data suggesting that investment in non-residential real estate will decline sharply over the next several quarters.Note: There is another problem with CRE too (not discussed here) - many existing properties were recently purchased at prices that were based on overly optimistic pro forma income projections. These loans typically

On the Road to a Smart Grid

2008-12-09T12:55:00.002-05:00

By Kate GalbraithScott Jarman, an engineer with Austin Energy, atop a city building that is testing architectural wind as a possible energy source. The smart grid of the future, says the company’s general manager, Roger Duncan, will include much more interaction between building owners and the utility. (Photo: Associated Press)“Smart grid” is an exciting term

Worldwide search for asthma clue

2008-12-09T12:47:00.002-05:00

By Rebecca Harrison BBC Horizon Tristan da Cunha offers a great chance for scientific studyIn the middle of the South Atlantic, 1,500 miles from any other land mass lies the most remote inhabited island in the world, Tristan da Cunha. This in itself is quite extraordinary, but the island is also unique for an entirely different reason - half of its

U.S. Sugar approves sale of 181,000 acres to Florida

2008-12-09T12:39:00.001-05:00

The board of directors of U.S. Sugar voted Monday to approve a $1.3-billion deal to sell 181,000 acres to the state for Everglades restoration."After a lengthy day of discussions, the contract was signed, sealed and delivered unanimously by our board of directors," U.S. Sugar vice president Bob Coker said.The company's vote sets the stage for the deal's final approval by officials of the South

Florida newspapers at core of industry strife

2008-12-09T12:18:00.003-05:00

Wake up and good morning. With plenty of implications for Florida, it's one more turn of the wringer this week for a troubled newspaper industry with reports the Tribune Co. is preparing for a possible filing for bankruptcy-court protection. The Tribune Co. owns 23 TV stations (and the Chicago Cubs) and 12 newspapers, including two of the eight largest in the country by circulation: the Los

Three Reasons Why the Dollar's Not Yet Done

2008-12-09T10:35:00.001-05:00

by Louis BaseneseRecall, in late March, I predicted here the dollar was overdue for a rally. Ninety-six percent of you cursed me. The other 4% pocketed an easy 20% or so (more if you played the options market).But after such a swift run - mind you similar moves in currencies typically take years, not months - is the dollar rally finally coming unhinged?Legendary investor Jim Rogers seems to think

Shareholders Ponder North Dakota Law

2008-12-09T10:10:00.001-05:00

A new front in the battle over corporate governance is emerging in an unlikely place: North Dakota.Only two publicly traded companies are incorporated in North Dakota. But last year lawmakers there -- prodded by out-of-state activists including Carl Icahn -- enacted the nation's most shareholder-friendly corporate-governance law. Associated Press Carl IcahnThe law prescribes rules that companies

China plays beggar thy neighbor

2008-12-09T09:56:00.001-05:00

By Peter NavarroThe latest summit between the United States and Chinese officials graphically illustrates that China has learned to play two games from the West: hardball and beggar thy neighbor.China's hardball approach is evident in the announcement by its major sovereign wealth fund that it will no longer invest in the US financial sector.The stated reason for this provocative announcement,

Mediterranean Diet Enriched With Nuts Cuts Heart Risks

2008-12-09T09:47:00.002-05:00

MONDAY, Dec. 8 (HealthDay News) -- In older adults at risk for heart disease, a Mediterranean diet plus daily servings of mixed nuts may help manage metabolic syndrome, according to a Spanish study. Metabolic syndrome describes a group of health problems that includes abdominal obesity, high cholesterol, high blood pressure and high glucose levels -- all of which are risk factors for

Majority of Modified Loans Fail Again, Regulator Says (Update3)

2008-12-09T00:57:00.002-05:00

By Alison Vekshin Dec. 8 (Bloomberg) -- Most U.S. mortgages modified in a voluntary effort to keep struggling borrowers in their homes and stem foreclosures fell back into delinquency within six months, the chief regulator of national banks said. Almost 53 percent of borrowers whose loans were modified in the first quarter were more than 30 days overdue by the third quarter, John Dugan, head of

Will We Reach 4 RMB Per U.S. Dollar?

2008-12-07T20:39:00.002-05:00

Though this title may be extreme to some readers, it is provocative on purpose. The dollar has appreciated 30 to 54 percent against most of the world's leading currencies over the last few months. Recently, 1.0 Euro was equal to 1.6 USD, now it is traded at 1.3USD. Similarly, 1.00 USD was equal to 1.03 Australian dollars; it currently is traded at 1.59 AUD.The fact that something appears to be an

Lower mortgage rates no silver bullet

2008-12-07T19:03:00.002-05:00

The government is weighing plans to drive rates as low as 4.5%. But experts say that won't be enough to stabilize the housing market. window.onerror=function(){clickURL=document.location.href;return true;} if(!self.clickURL) clickURL=parent.location.href;try { cnnShareLinks.init('Economy','rss.cnn.com/rss/money_news_economy.rss'); // EDIT THIS } catch(e) { alert

Exec had mortgage racket down to an art

2008-12-07T18:40:00.002-05:00

Exec had mortgage racket down to an artOrson Benn has gone to prison for falsifying applications, but a former associate in Homestead still sells mortgages. /* * Tell JavaScript how much of each type of content there is */ storyVideoCount = 1; storyVideoBoxCount = 0; storyVideoOldTypeCount = 0; storyAudioCount = 0; storyPhotoCount = 4; storyPhotoGalleryCount = 0;

Oregon Governor Seeks Mandatory Efficiency Audits for Home Sales

2008-12-07T18:27:00.003-05:00

By Libby TuckerAll homes and commercial properties being sold in Oregon would be required to have an energy efficiency score under a new proposal. (Photo: Associated Press)Potential home sellers determined to ride out the sputtering housing market would do well to invest in efficiency upgrades while they wait — particularly if a new real estate mandate under

I-95 express lanes up and running

2008-12-07T18:06:00.002-05:00

After early traffic snarls, confusion, flattened divider pylons and much buzz, Interstate 95's express lanes are finally operational.Tolling along the two-lane, seven-mile stretch running northbound from I-195 to the Golden Glades interchange opened Friday morning without much difficulty.No accidents had been reported as of 11:45 a.m., said Roy Santana, a Florida Department of Transportation

Predatory Lending - Are You a Victim?

2008-12-07T17:18:00.002-05:00

With all of the finger-pointing and outcries about corrupt lenders and greedy mortgage brokers and real estate agents, every homeowner facing foreclosure may feel victimized. And certainly, there was a lot of deception and outright fraud in the mortgage markets during the boom years. But there are a few important signs to watch out for that may indicate the presence of a predatory mortgage

almost three years of investigating alleged predatory lending and fraud cases

2008-12-07T16:31:00.001-05:00

After almost three years of investigating alleged predatory lending and fraud cases for primarily Spanish speaking clients in Monterey, Santa Cruz, Santa Clara, and San Benito Counties, I came to the startling conclusion that over 98% of those who had lost or were losing homes to foreclosure were involved in some type of fraud scheme. This led me to conduct some research. I found that with the

Tax Reduction (Casualties Can Generate Substantial Tax Reduction)

2008-12-07T10:37:00.003-05:00

Tax reduction are the results from tax deductions. Tax deductions reduce taxable income but do not directly reduce federal income taxes. For example, $100,000 of tax deductions reduces federal income taxes by $35,000 ($100,000 X 35%), assuming a 35% tax rate. Most tax reduction require a cash expenditure (labor, material, supplies, utilities, etc). A current period cash expenditure is not

Port Condominium #1510

2008-12-07T09:11:00.004-05:00

SE Fort Lauderdale - “Port” CondominiumHarbor Beach Area of SE Fort LauderdaleApprox 129 Units – Completed 2005 –15 FloorsPets Allowed5th Floor Pool with Intracoastal ViewsFitness Rooms – Recreation Room with Bar & KitchenSE Views – Views Intracoastal & Inlet & OceanPrivate Balcony With Water & Shoreline ViewsLiving & Kitchen & Dining Areas Feature Water ViewsNeutral Colors with Saturnia

A Window on Hotel CMBS: Columbia Sussex

2008-12-06T01:25:00.002-05:00

In the four years prior to 2008, mortgage backed securities drove the hotel acquisition market. Though issuance of new CMBS in 2008 has been replaced by withered vines (less than 1/10th the issues in the first two quarters of 2008 compared to 2007, and 0 in the third), CMBS defaults have remained quite low. In the next couple years, however, we’ll be seeing just how those vintages from 5 years

China's yuan set to reverse course

2008-12-05T23:26:00.002-05:00

By Kosuke TakahashiTOKYO - China, faced with factory closures and slowing export growth as the global economy slows, is apparently prepared to weaken the value of its currency against the US dollar in defiance of a key policy goal of the United States, even as US Treasury Secretary Henry Paulson visits Beijing this week.A weaker yuan, which would signal an about-turn by Beijing after three years

Miami-Dade makes lenders maintain vacant foreclosures

2008-12-05T10:10:00.001-05:00

Miami-Dade passed new local laws this week to rein in rot on abandoned homes and protect buyers. /* * Tell JavaScript how much of each type of content there is */ storyVideoCount = 0; storyVideoBoxCount = 0; storyVideoOldTypeCount = 0; storyAudioCount = 0; storyPhotoCount = 1; storyPhotoGalleryCount = 0; storyGoogleMapCount = 0; storyMapBoxCount = 0; Getting to the "bottom" of the housing market. document.write(''); Treasury Secretary Hank Paulson is hoping he's found the magic bullet

The Future for Home Prices

2008-12-05T00:11:00.002-05:00

By JAMES R. HAGERTYOver the past few years, Americans have had a brutal lesson in the risks of real estate. House prices have crashed more than 35% in some parts of the country, millions of people are losing their homes to foreclosure, and banks are failing.The takeaway? Many Americans still see real estate as their best shot at wealth. In survey after survey, people expect prices to bounce back

Has the bubble burst?

2008-12-04T23:54:00.001-05:00

Nov 27th 2008 DUBAI From The Economist print editionAs the sheen comes off glitzy Dubai, the other Gulf states are getting nervous too “THEY said you couldn’t create islands in the middle of a city,” shouts a property advertisement over a jammed Dubai motorway. “We said, what’s next?” The range of answers has become gloomier by the week, as the debate moves from whether the Dubai property bubble

Are Things About to Turn Around for Housing?

2008-12-04T21:46:00.001-05:00

I know it is fashionable to be bearish on housing, but are things about to pivot and turn? Put these two items together:1) The Housing Affordability Index reached 141.1 in the most recent release. This was the highest in at least six years. As one blogger noted, this will move even higher next month due to a drop in fixed mortgage rates to the current 5.75%.2) The U.S. Treasury is considering a

State Keeps Hiring

2008-12-04T12:05:00.004-05:00

Government HiringFinding ways to grow: Government keeps hiring as the private sector in Florida trimmed more than 100,000 jobs in a year.by Cynthia Barnett [Illustration: Judi Guitteau]Across Florida over the past year, painful cuts in government services have become increasingly common. Some disabled adults have lost access to transportation. Foster kids wait longer for adoption services. Fewer

Dubai Speculators Quit as Lending Drought Bursts Desert Bubble

2008-12-04T12:00:00.002-05:00

By Glen Carey Dec. 4 (Bloomberg) -- The classified ads in Dubai read like an obituary for a real-estate market that until a few months ago seemed immune from the global credit crisis. A Turkish investor, who identified himself as Sebat, took out 10 bright yellow ads in the Nov. 25 edition of Gulf News, the United Arab Emirates’ biggest newspaper, with the headline: “DIRECT FROM OWNER DISTRESS

Bank cuts UK rates to 57-year low

2008-12-04T11:57:00.002-05:00

The Bank of England has cut interest rates by one percentage point, from 3% to 2% - the lowest level since 1951. The move, which followed a dramatic cut in November, has been welcomed by many commentators who said the cut should help the slowing economy. Prime Minister Gordon Brown has urged lenders to pass on the cut to homeowners and business. So far, only a handful

A Solar Boost for the Sunshine State

2008-12-04T11:44:00.003-05:00

By Kate GalbraithAn artist’s rendering of Florida Power & Light’s planned combined-cycle solar and natural gas power plant. (Image: F.P.L.)The Sunshine State is starting to live up to its name on the energy front. Today Florida Power & Light, the state’s biggest utility, broke ground on what it says will be the first utility-scale solar investment in the state

Bernanke: More Needs to Be Done to Stem Foreclosures

2008-12-04T11:35:00.001-05:00

Bernanke: More Needs to Be Done to Stem ForeclosuresU.S. Federal Reserve Chairman Ben Bernanke on Thursday urged the government to consider sweeping steps to prevent foreclosures, including buying risky mortgages and refinancing them under more favorable terms to homeowners.Bernanke“Despite good-faith efforts by both the private and public sectors, the foreclosure rate remains too high, with

A Rush Into Refinancing as Mortgage Rates Fall

2008-12-04T11:28:00.001-05:00

By TARA SIEGEL BERNARDPublished: December 3, 2008 The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers.Skip to next paragraph Enlarge This Image Tina Fineberg for The New York TimesLow rates enticed Javier and Irina Lattanzio to refinance their

Irish economy faces into a bleak 2009 and further contraction in 2010 - Davy

2008-12-04T11:18:00.003-05:00

Irish economy faces into a bleak 2009 and further contraction in 2010 - DavyBy Finfacts TeamDec 4, 2008 - 8:22:15 AMEmail this articlePrinter friendly pageThe Irish

Fannie Mae Limits DTI regardless of AUS Decision for Loans with MI

2008-12-04T02:45:00.002-05:00

I've heard from industry insiders (not confirmed) that Fannie Mae is putting a limit on the debt service-to-income (DTI) ratio of borrowers regardless of the Automated Underwriting System (AUS) decisions for loans requiring mortgage insurance (Loan-to-value (LTV) > 80%). This is apparently due to pressure from the mortgage insurers (MIs).These are essentially caps on DTI. Previously the max was

WSJ: Treasury Considers Plan to Lower Mortage Rates to 4.5%

2008-12-04T02:37:00.002-05:00

From the WSJ: Treasury Considers Plan to Stem Home-Prices Decline The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans ... The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie Mac to bring loan rates down as low as 4.5%, a full percentage point lower than the prevailing rates for

2400 Delmar Place - Las Olas Islands

2008-12-03T15:31:00.001-05:00

Las Olas Islands: Walk or Bike to Beaches and Las Olas Merchants Seven Isles Community: 24 Hour Patrol and Manned GuardhouseHomeOwners Association: Non-Mandatory - $250 Paid Quarterly140+ Ft Water - Just off the Intracoastal WaterwayLong Dock for a Yacht and Multi WatercraftOutdoor Living: Park Like Setting with GazeboLots of Area for Expansion or Garages Ideal for Privacy - Pets - Children -

2524 Aqua Vista Boulevard - Las Olas - Sold

2008-12-03T14:48:00.000-05:00

Las Olas Islands: Walk to Beaches & Las Olas MerchantsSeven Isles Community: 24 Hour Patrol - Manned GuardhouseNo-Fixed Bridges: Quick Ocean Access via Port Everglades90 Seawall: Allows up to 70 Ft Watercraft (10 Ft Set-Backs)Pool Area Overlooks Dock & Canal1960’s Home: Mostly Original & Ready for ModernizingLocation: Tucked Away & Sought After Street3 Bedrooms - 2 Full Baths – Powder Room2 Car

765 Middle River Drive - Sunrise Galleria - SOLD

2008-12-03T14:32:00.000-05:00

Contemporary ReBuild - Fort LauderdaleGuarded Community - One Entrance with Patrol105 Ft Seawall - Deepest Draft for SailboatsDock 2-3 Large Yachts Into Wide Expanse of RiverQuick Access to Port Everglades InletPanoramic Views at Widening of Middle RiverCustom Appointments - Marbles & Exotic WoodsSpecial Effects Lighting Throughout350 Gallon Salt Water AquariumExtensive use of Built-InsKitchen:

Recycling By the Numbers: The Truth About Recycling

2008-12-03T12:41:00.004-05:00

MORE RECYCLING COVERAGE• FEATURE: How Recycling Works and is Recycling Worth it?• PLUS: PM Debunks 5 Myths and Half Truths about RecyclingMATERIALALUMINUMPRODUCTSDrink cansRECYCLING RATE1,440,000 tonsDiscarded/year45% is recycledENERGY SAVED BY RECYCLING96%CARBON EMISSIONS PREVENTED10 tons CO2/ton aluminumPRICE PER TON$1800–$2000BOTTOM LINEThe huge energy cost—and associated emissions—of

Home loan fraud still rising

2008-12-03T11:57:00.003-05:00

Even though it is now much harder to get a home loan in South Florida, mortgage fraud continued to flourish in the second quarter of this year, an industry group reported Tuesday. Florida led the nation.By MONICA HATCHERmhatcher@MiamiHerald.com Despite more stringent underwriting of

Fla. called No. 1 in mortgage fraud

2008-12-03T11:53:00.001-05:00

TAMPA — A national report released Tuesday said Florida leads the nation in mortgage fraud. Within the state, Tampa is second in the amount of suspicious loan activity.As the report was being released, a federal jury in Broward County was returning guilty verdicts in a scam case that included $5-million in fraudulent mortgages.Howard Gaines, a lawyer who worked as a title agent, was accused of

Fort Lauderdale approves conceptual plans for downtown high-rise

2008-12-03T11:49:00.002-05:00

Commission approves plan for 4-acre siteBy Brittany Wallman South Florida Sun-Sentinel December 3, 2008FORT LAUDERDALE - The market might not be ripe for a mega-development, but a landowner on a major corner downtown is ready for the next wave of construction.City commissioners Tuesday evening unanimously approved conceptual plans for a hotel, condo and office complex to be built on the southeast

Crist Temporarily Suspends Foreclosures

2008-12-02T18:16:00.002-05:00

Gov. Charlie Crist and representatives of major lenders announced Monday a 45-day moratorium on new foreclosure filings, which critics called a timid half-step toward helping homeowners in tough economic times. Crist praised Alex Sanchez, president of the Florida Bankers Association, and Aletta Shutes of the Florida Credit Union League, for agreeing to give struggling homeowners a break through

JetBlue adds service from Fort Lauderdale

2008-12-02T18:12:00.005-05:00

JetBlue Airways on Tuesday said it is adding two new international routes. The airline plans to begin daily nonstop service from Fort Lauderdale to Santo Domingo, Dominican Republic, and Cancun, Mexico, in May, subject to government approval.The airline’s planned service to Cancun and Santo Domingo is the latest in its Caribbean expansion from Fort Lauderdale.The airline will begin twice-daily

Cameras take aim at red-light runners

2008-12-02T18:07:00.002-05:00

Cities throughout South Florida are giving the green light to red-light cameras.Advocates hail them as a safety measure -- a way to get folks to slow down and avoid crashes."The single largest complaint I get every day is traffic related. Speed and red lights,'' said Hollywood Commissioner Heidi O'Sheehan, whose city tentatively approved using the cameras last month.Critics say cities are using

Research on mice links fast food to Alzheimer's

2008-12-02T00:48:00.001-05:00

drawControls(); 1 of 1Full SizeaddImpression("3098094_Related Video");removeImpression();addImpression("3098095_Related News");removeImpression(); LONDON (Reuters) - Mice fed junk food for nine months showed signs of developing the abnormal brain tangles strongly associated with Alzheimer's disease, a Swedish researcher said on Friday.The findings, which come from a series of published

Ex-surgeon Caldwell Esselstyn Jr. espouses a noninvasive cure for heart disease

2008-12-01T21:32:00.002-05:00

Thomas Ondrey/The Plain Dealer Dr. Caldwell Esselstyn Jr. and his wife Ann, in pink, consult with a couple interested in his plant-based diet for coronary heart disease, in the kitchen of his home.Read excerpts from the book: "Prevent and Reverse Heart Disease: The Revolutionary, Scientifically Proven, Nutrition-Based Cure."Esselstyn's rules to live by• No meat, poultry, fish, dairy products or

Treasury Yields

2008-12-01T19:10:00.000-05:00

Long Term Rates Coming Down?

2008-12-01T19:04:00.005-05:00

Several Countries Are Rethinking the Euro

2008-12-01T17:36:00.002-05:00

COPENHAGEN — The deepest financial crisis since the Great Depression has prompted countries that had snubbed the euro to take a fresh look at the virtues of the common European currency. After turmoil in the currency markets nearly destroyed the Icelandic krona and undermined the Polish zloty, those two countries are rethinking their opposition to the euro. More surprisingly, Denmark — a nearly

Buying bank-owned property

2008-12-01T17:11:00.003-05:00

Dear Steve, Late in 2007 we made an offer on a real estate owned (REO) property owned by a small bank. Our offer was substantiated by then-recent comparables, but was rejected outright. We tried to open another dialogue with the bank through their listing agent, but were told they had "zero interest" in negotiating with us. The house has been on the market for two years now! The bank, by the way

Growth won't pay the bills in Florida

2008-12-01T11:23:00.001-05:00

TALLAHASSEE — For the dozen state economists huddled around a table this month to fine-tune Florida's annual revenue forecast, something was different and disturbing.Their projections from just a year ago were way off. Their new math: In the next four years, the state will collect $31.4-billion less in taxes than expected. That's more than six times the Pinellas and Hillsborough county budgets

In approval process, it was quantity over quality

2008-12-01T11:16:00.002-05:00

Citing privacy laws, banks refuse to explain why they repeatedly made loans that never had a chance of getting repaid.But Graham Albertini, an appraiser for Washington Mutual from 1999 to 2006, provides an insider's take on the nation's largest bank before federal regulators seized it in September.Albertini, who worked in WaMu's office in Belleview, Wash., has not heard of Sonny Kim. But what he

Despite Downturn, Ft. Lauderdale Skyscraper Planned

2008-11-30T10:54:00.004-05:00

Fort Lauderdale's skyline shaper Terry Stiles thinks the commercial real estate market won't be back until at least 2010. And while, he had to lay off employees, he sees enough of a silver lining to plan downtown's tallest tower.From his office atop his own Fort Lauderdale office tower, developer and contractor Terry Stiles surveys his hometown skyline — a skyline he had a major hand in

Hillsboro Inlet District dedicates $1.8M dredge

2008-11-30T10:38:00.002-05:00

By Elizabeth Roberts South Florida Sun-Sentinel November 30, 2008The clouds were gray enough to turn seas frothy white. The wind slapped the water with enough force to keep boaters at home.But the Hillsboro Inlet District's new dredge stood solid as a lighthouse, repelling both waves and the bottle of champagne used to christen it."Welcome to the dredge christening," Jack Holland announced

Growth won't pay the bills in Florida

2008-11-30T10:32:00.002-05:00

Germans Split Over "Climate-Friendly" Big Cars

2008-11-29T10:29:00.001-05:00

Car-buyers are being tugged two ways in a German debate over carbon-dioxide emissions: Should they buy cars for the fast lane, or downsize to smaller cars more suited to the slow lane of German autobahns?The dilemma came to a head when Chancellor Angela Merkel's government debated an economic stimulus package in October.With global talks on a new climate-saving pact due next week in Poland, the

Yen Advances Fourth Month Against Euro as Carry Trades Unwind

2008-11-29T10:18:00.003-05:00

Nov. 29 (Bloomberg) -- The yen gained for a fourth straight month against the euro, the longest wining streak since 1999, as the deepening global economic slump prompted investors to sell high-yielding assets and pay back loans made in Japan. The euro weakened against the dollar for a fifth month as investors added to bets the European Central Bank will cut interest rates next week after

Fears That a Weakened British Pound May Grow Weaker

2008-11-29T10:04:00.002-05:00

LONDON — Could the British government’s plan to borrow and spend its way out of a recession lead to a run on the pound? George Osborne, the Conservative Party’s spokesman on such matters, warned of just such an outcome this month, and Peter Mandelson, the Labor government’s business secretary, accused him of being “reckless and irresponsible.”In the last few days, Mr. Osborne again accused Prime

Canadian exporters' golden era may be over

2008-11-29T09:54:00.001-05:00

Current account surplus to be commodities-bust casualty, economists sayNov 29, 2008 04:30 AM Ann Perrybusiness reporterCanada's long-running era of current account surpluses could soon come to an end as the commodity bust drags down trade flows that helped propel the country's economy for years, economists warn. The current account surplus, a broad measure

Alliance hopes Bahia can improve view

2008-11-29T09:42:00.003-05:00

By DON CRINKLAW Forum Publishing Group November 27, 2008Some Fort Lauderdale