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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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Government launches plan to help 'underwater' borrowers
Starting Tuesday, the Federal Housing Administration will permit lenders to give these borrowers refinanced loans backed by the government. The lenders will be required to forgive at least 10 percent of the original mortgage amount. Investors who have control over the mortgages as part of their large portfolios will select which borrowers are invited to participate.
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Forest City closes $85 million loan on New York entertainment, retail property
The mortgage carries a significantly lower interest rate than Forest City's previous loan on the 42nd Street property, a 312,000-square-foot complex that includes AMC Theatres and Madame Tussaud's Wax Museum.
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University Circle study shows opportunities for residential development
A market study of the University Circle area shows that hospitals, institutions and nonprofit groups are fueling more than $3 billion in construction and creating thousands of new jobs. That presents opportunities for private developers who want to build apartments to house medical residents, graduate students, specialists and researchers who are in Cleveland for only a few years.
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Pending home sales rise 5.2% in July
The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak.
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Mortgage rates hit decades-low of 4.32%
Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
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Home  Benevolent Real Estate
Benevolent Real Estate
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Down the Way and Lighthouse Partnership |
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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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