The International Herald Tribune’s 2-29-2008 headline “Faced with mortgage default, some U.S. homeowners walk out” will lead you to this site, which results in walking away from a home and mortgage and ceding the home to a bank in foreclosure: http://www.youwalkaway.com/ . The house then becomes the lenders problem, and the former homeowner might be able to rent a property for less than half the cost of their mortgage they left behind. According to the article, while in some states banks have recourse to sue borrowers for their losses, it is usually not done because the process “is costly and “people’s nonhousing wealth tends to be pretty slim”. For a copy of the article, email marilynfjacobs@gmail.com. According to the founder of You Walk Away, which opened for business in January 2008, the company’s services are not for everybody and were meant as a last resort. Those finding themselves having to choose between a car payment and their kids’ health insurance or paying a ballooned mortgage may have an alternative now, and may feel that over the coming years their income will go up and their credit will improve while, in the meantime, they rent instead of own a home.
Friday, February 29, 2008
YOU WALK AWAY... from a mortgage!
The International Herald Tribune’s 2-29-2008 headline “Faced with mortgage default, some U.S. homeowners walk out” will lead you to this site, which results in walking away from a home and mortgage and ceding the home to a bank in foreclosure: http://www.youwalkaway.com/ . The house then becomes the lenders problem, and the former homeowner might be able to rent a property for less than half the cost of their mortgage they left behind. According to the article, while in some states banks have recourse to sue borrowers for their losses, it is usually not done because the process “is costly and “people’s nonhousing wealth tends to be pretty slim”. For a copy of the article, email marilynfjacobs@gmail.com. According to the founder of You Walk Away, which opened for business in January 2008, the company’s services are not for everybody and were meant as a last resort. Those finding themselves having to choose between a car payment and their kids’ health insurance or paying a ballooned mortgage may have an alternative now, and may feel that over the coming years their income will go up and their credit will improve while, in the meantime, they rent instead of own a home.
Wednesday, February 27, 2008
FORECLOSURES NOT JUST MAINSTREAM
One of the nation’s priciest residences, Harold Vanderbilt’s Villa di Venezia, the 1929 Italian Renaissance mansion at 1100 South Ocean Boulevard in Manalapan, went on the auction block and was bought by mortgage holder, New Stream Capital, on the steps of the courthouse, for $22-MM. New Stream will put the property back on the market to recoup its investment. The 20,000 sq ft Maurice Fatio home was sold to Randolph Hearst by Mel and Bren Simon for $29.87-MM in 2000, a record sale for Florida at that time. Hearst died 6 months later and his widow, Veronica, was left the house but did not have the money to maintain it. Veronica Hearst paid for property taxes, renovations, etc. by borrowing millions of dollars against the home’ value, selling 150 feet south of the property for $6.2MM.
Monday, February 25, 2008
NEW SPANISH RIVER LIBRARY IN BOCA NOW OPEN… MAKE A VISIT A MUST!
Enter into a huge reading room with volume ceilings and high windows giving off light, and find a serene atmosphere, perfect for enjoying a book or a magazine. The facility is about 40,000 sq feet, a Mizner-inspired design, features decorative arches and faux coral stone columns, a Spanish tile roof, the man-made Blue Lake, coffered ceilings and dark cherry wood trim. Approved by voters, Countess de Hoernle's philanthropic gift greatly reduced our costs. Go visit and be proud to take guests from out-of-town to lunch at the Library Cafe. Check out the thousands of free books, newspapers, magazines, periodicals and more. Wireless computer outlets are available. The upstairs balcony area, as well as the main reading room, is perfect for studying and reading. Ground was broken on April 2, 2004 to start building the Library, and now that construction is complete, the library opened January 26, 2008. There are two Computer Labs each seating a dozen people. There is a Children’s Lab with learning games and application software. A special Teen Room for Tweens and Teens is provided. Rooms and beautiful outdoor areas, some with pretty Blue Lake views, are available for meetings and events. Friends of the Boca Raton Public Library offer a chance to win a $25 gift certificate and other prizes every day you come to one of the libraries from February 1-29. The Library Café fixes fresh salads and foods and has wonderful cookies, cakes and pastries. They can do catering for any kinds of parties. Email torocsikpeter@yahoo.com or call 561-305-8646. You can eat in the café, or go outside to the tables overlooking the pretty lake. Programs are featured and you can join The Friends of the Boca Raton Library for $25 or less. Hours are Monday through Thursday, 9 am to 9 pm. Friday and Saturday, 9 am to 6 pm. Sunday, 12 noon to 8 pm. For more information go to www.bocalibrary.org.
Tuesday, February 19, 2008
OFFICE HOURS EXTENDED FOR HOMESTEAD EXEMPTION, PORTABILITY FILINGS
Sunday, February 17, 2008
HERE is your opportunity for international exposure of your work!
POETRY PROTOCOL, Syndicate is currently accepting poetry for it's International Poetry Quarterly. You also have the opportunity to submit your work for the '10TH ANNUAL MARILYN FARBER JACOBS POETRY AWARD' Contest! Grand prize: ONE HUNDRED DOLLARS!! Second Place: $50; Honorable Mention Certificates Awarded. SUBMISSION GUIDELINES: Theme: open - any style or genre of poetry; 20 lines or less; typed or printed, double spaced; deadline is March 18, 2008; entry fee: $5 for unlimited poem entries. Please make check out to: North Tulsa Literary Guild, Inc. and mail to North Tulsa Literary Guild, P.O. Box 6221, Tulsa, OK 74148-0221. ANYONE CAN ENTER!
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