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Real Estate News - cleveland.com
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| Northeast Ohio community & neighborhood news and home information |
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Florida developer plans $12 million renovation of apartment complex near Shaker Square
The Finch Group, a developer based in Florida, acquired 11 apartment buildings near Shaker Square today, through a deal with the city of Cleveland and the U.S. Department of Housing and Urban Development. The developer plans a $12-million project at the property, an affordable-housing complex called Livingston Park Apartments.
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Government mortgage plan aids 16 percent of borrowers
The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, and hundreds of thousands of homeowners are in limbo without an answer.
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Hiking mandatory down payment would hurt housing market, FHA administrator says
FHA commissioner David Stevens said during a House hearing that his agency would back 300,000 fewer loans per year if the mandatory down payment was hiked from the current level of 3.5 percent to 5 percent. That's a 40 percent drop.
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Mortgage rates remain below 5 percent
Mortgage rates have held below the 5 percent threshold for the second straight week, only weeks before a government program that has been keeping rates low is scheduled to expire.
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Foreclosure rates up by smallest amount in 4 years
The foreclosure crisis isn't over, but the pace of growth may finally be slowing down. RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years.
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Down the Way and Lighthouse Partnership |
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Written by Administrator
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Friday, 15 August 2008 15:28 |
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 August 15, 2008 - Lighthouse, Inc, a non-profit organization that has worked for positive community transformation in central Cleveland for the last 29 years, has partnered with Down the Way Enterprises to establish a new model in Benevolent Real Estate.
Using the power of volunteer groups from Lighthouse and professional project managers and capital from Down the Way, this new program will create access to energy-efficient, newly remodeled homes in central Cleveland at prices that average families can afford. YOU CAN BE INVOLVED - have a look at our new brochure - DTW_BRE_Partnership - and feel free to Contact Us to discuss how you may choose to be involved. |
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Last Updated on Saturday, 20 September 2008 15:49 |
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