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Lake Worth working to meet grant deadline for renovating residences downtown
Source: Palm Beach Post New homes are improving the look of streets in the city’s urban core as the city’s Community Redevelopment Agency and its nonprofit partners make a final push to meet a mid-February deadline for spending $23.2 million in federal grant money. Read more…
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Florida homeowner tax cut extended; forgiven mortgage debt excluded from taxable income
Source: Palm Beach Post Florida homeowners have one more year to complete a short sale and benefit from a federal tax break that was set to expire Tuesday. Read more…
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Homeowner tax cut to expire, forgiven mortgage debt would become taxable income
Source: Palm Beach Post The Mortgage Forgiveness Debt Relief Act of 2007 is scheduled to expire Dec. 31. Who’s affected? If no extension is granted, homeowners will have to pay taxes on any unpaid balance forgiven by a lender after a short sale, modification or foreclosure. Read more…
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South Florida foreclosure discounts shrinking
Source: Palm Beach Post Buying a South Florida foreclosure isn’t the slam dunk steal it once was, according to a new report that found shrinking discounts on distressed properties. Read more…
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Pam Bondi: Mortgage Settlement Money Isn’t for State Employee Pay Raises
Source: Sunshine State News Attorney General Pam Bondi is adamant that a $334 million mortgage settlement sitting in escrow since February will go to distressed Florida homeowners, not to state employees for pay raises. Read more…
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Lower-priced home inventory down 33 percent in South Florida
Source: Palm Beach Post The inventory of homes for sale at $105,600 or less dropped 33 percent in South Florida during the past year, making it difficult for first-time buyers to find properties. Read more…
