I'm Terry Dona, a licensed Mortgage Banker and Florida Real Estate Agent. I specialize in Southwest Florida real estate and Florida home loans. My realty firm, Gulf Coast Associates represents buyers and sellers from St. Petersburg & Sarasota to Bonita Springs & Naples.
Be sure to check out our Florida MLS search features on our website. And, if you're in need of financing, Metro Mortgage Company is a federally regulated lender specializing in originating Conventional, Jumbo and FHA/VA loans i
I wanted to follow up on our previous post on Short Sales and the Florida Foreclosure Rescue Fraud Law. In it, I referenced the following situation:
...One of these individuals recently made an interesting observation regarding "short sale" listing prices and fraud on the public. If you notice in Attorney General McCollum's statement above, "...ascertains that the fair market value of the home is less than the loan amount...", this particular complaint might just carry so... Read Full Story
As you who visit the REW blogs on a regular basis already know, we try our best to keep you abreast of important changes in the lending industry when we can. To that end, I wanted to make a quick post and let you all know about the 2009 changes to the FHA and Conforming loan limits. We made a post about these changes at our Southwest Florida Blog - HUD Announces New Permanent FHA Mortgage Loan Limits, but I also wanted to give you folks the HUD links so you can look up the new FHA and Fannie... Read Full Story
The January thru September Cape Coral real estate market statistics for both home and condominium sales are listed below. Cape Coral, known as the "The Cape" to locals, is one of Southwest Florida's most rapidly growing areas. It is the 3rd largest city in Florida in terms of land mass and features over 400 miles of both fresh and salt water canals - many with gulf access. Read Full Story
In another effort to help homeowners who are facing foreclosure, the Federal Housing Finance Agency (FHFA) announced another plan to help speed up the process for renegotiating delinquent loans held by Fannie Mae and Freddie Mac. The plan, which will go into effect on December 15, provides guidelines for mortgage servicers to follow in modifying existing loans to help prevent future defaults. FHFA officials hope their new approach will become a model for all loan servicing companies and make... Read Full Story
According to a letter sent to the Florida Association of Realtors (FAR) by Attorney General Bill McCollum, the new Foreclosure Rescue Fraud Prevention Act does not prohibit Florida real estate agents from being involved in a short sale, as long as the only compensation they seek for their services is the commission on the sale.
The new law, which took effect Oct. 1, 2008, is designed to help protect homeowners who are facing the possibility of foreclosure from individuals who would seek to p... Read Full Story
The Boston Red Sox have made their decision - Lee County will remain the team's spring training home for the next 30 years. The deal was inked on Saturday and made everyone involved breathe a sigh of relief. The impetus for the signing came from the Lee Commissioners four day old decision to build the team a new stadium in south Lee County.
The next step in the process will be to find a suitable site on which to build the new stadium. Local officials have already begun their search and are c... Read Full Story
The January thru September Sanibel Island real estate market statistics for both home and condominium sales are listed below. Sanibel Island, known as the "Shelling Capital" of the world, is one of Southwest Florida's true treasures. Only 12 miles long and 5 miles wide, Sanibel is a haven of natural beauty, very romantic, and a place of solitude. Imagine seventeen miles of pristine soft white sand beaches all surrounding waterways, mangroves and wetlands teeming with abundant wildli... Read Full Story
The mid year 2008 The Brooks real estate market statistics for both homes and condominium sales are listed below. Encompassing 2,532 acres of natural Florida surroundings, The Brooks is master planned gated community consisting of five major and distinct communities - Copperleaf, Lighthouse Bay, Rapallo, Shadowwood and Spring Run. Each community is gated and sports a different kind of lifestyle. All five communities pivot around The Town Center and The Commons Club at The Brooks which also pr... Read Full Story
It looks like wind storm homeowner's insurance costs may become more expensive for some Florida homeowners come next year. Citizens Property Insurance Corp. officials announced this past Tuesday they will require some 350,000 wind-only customers within the state to reapply for coverage beginning February 1, 2009.
Citizens is the state's insurance company of last resort and has become the largest insurer in Florida covering some 1.2 million customers. The company cited two reasons for the cha... Read Full Story
In another sign of the times for the lending industry, Wachovia Mortgage announced last evening it is going to discontinue its wholesale lending operations for third party originations. The decision will be effective July 25, 2008, which will be the last date on which Wachovia Mortgage will accept any new loan applications for wholesale funding.
The announcement came via email and was not only a surprise to its lending partners but also to its wholesale lending account executives and staff. ... Read Full Story
