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June 2014 Archives

HOA fines veteran for displaying U.S. flag

A Florida veteran recently received a surprising notice from the homeowners' association of his Jacksonvilleommunity. The association informed the resident that displaying the U.S. flag in a flower pot in the front of his home violated community guidelines. As a result, the man has been informed that he must pay the association fines totaling $8,000. In addition, he has only 30 days to remove the flag and pay the fine or the association will initiate foreclosure proceedings.

Florida had the highest number of foreclosures this past year

Florida has the highest numbers of completed foreclosures of any state in the nation. The number of distressed homes in our state also remains high. Florida has 121,338 foreclosures closed during the 12-month period ending in April. This was more than double the number of completed foreclosures of any other state and added up to 20 percent of all foreclosures in the U.S.

Business center with $17.7 million mortgage sells for $12 million

Homeowners are not the only ones that can find themselves underwater concerning loans. The Miami Lake Business Center found itself in similar circumstances and apparently only avoided foreclosure by selling the property for less than the loan balance.