Beautiful day for the neighborhood
Under the agreement, State Street wrote down debt on the development from $625 million to $210 million and provided a $180 million line of credit. Additionally, about $200 million in fresh capital was invested by the original investors, Lennar Corp., LNR Property LLC, Rockpoint Group LLC and MSD Capital LP.

Changes on horizon for FHA insurance refunds
If you refinance into any other type of loan — one guaranteed by a private insurer, for example, or perhaps a conventional mortgage without any coverage at all — all that money you shelled out in advance for your original FHA mortgage will be gone forever.

Don’t bother trying for a ‘perfect’ purchase
Those looking for a home have always had enough reasons to wait. Sometimes they wait for lower interest rates or lower home prices. Sometimes they wait for their incomes or credit scores to rise. And sometimes they are just waiting for the right home..

Project
“The whole country realized that Lehman was an 8.5 earthquake that was going to shake the whole world, and it didn’t matter anymore if you were residential, commercial, institutional or anything else — everything was connected,” Haddad said. “That obviously meant that we had to go back to the drawing board with city staff and revisit our thinking.

FHA
old lender must first notify the FHA that coverage has been terminated. Then the agency determines how much of the upfront premium will be refunded based on the number of months the loan was insured. And finally, the agency requests that the Treasury Department issue a check.

Ask The Builder
Six or more inches below the four-foot depth, the soil temperature could be in the upper 30-degree range. Go down to six feet below the surface and the soil temperature might be in the 40 to 50 degree range. That’s still pretty cool. This cold soil is touching your foundation and radiating that cold into your basement every minute of every winter day.

Real Estate Matters
Twenty years ago we had modified the document to provide a road agreement between the owners. The road is private, and we make the repairs to it. Over the years we all contributed our share of the repairs, and majority rule dictated what work was done.