When Tiffany Duffie makes out her $995 rent check each month, she tucks a little money away in the family's house fund. ...more

May 3, 2008

TAMPA -- When Tiffany Duffie makes out her $995 rent check each month, she tucks a little money away in the family's house fund. For the past year and a half, the family of four has rented a two-bedroom unit at The Pavillions at Ballast Point in south Tampa. They love the location, near MacDill Air Force Base, where her husband is stationed. They look out on mature trees from a small patio where they keep the children's bicycles and outside toys. Money is tight, and Duffie said she fears that if her rent goes up, they won't be able to save for a down payment on a home. And because of the credit crunch, she worries the family might not qualify for a mortgage. "I really want a house," she said. "I want a yard for my kids. It would be so nice to have something to call your own." As the economy weakens, more people who would have qualified for home loans a few years ago no longer do. And scores of homeowners losing their homes in foreclosure are turning to apartments. Others who could qualify for a mortgage are opting for luxury apartments instead, seeking to wait out the housing bust. The mixture is starting to heat up Tampa Bay's apartment market, which has struggled to fill thousands of units the past couple of years as renters rushed to buy homes. Anticipating increased demand, developers are shifting focus, too, from home building to apartment construction. There are 3,646 units either under construction or recently completed in Hillsborough and Polk counties, according to Triad Research & Consulting. Another 12,300 units are proposed for construction this year or next in Hillsborough, Pasco, Pinellas and Polk counties, the firm said. ...more

May 2, 2008

Wondering where the real estate market is going? Clark W. Toole III, president and chief operating officer of Sarasota-based Coldwell Banker Residential Real Estate, thinks Florida is poised for a recovery. ...more

February 17, 2008

A 37-year-old woman has pleaded guilty to racketeering charges in a mortgage fraud scheme involving one of the nation's largest subprime mortgage companies, Florida Attorney General Bill McCollum said. ...more

February 14, 2008

A 37-year-old woman pleaded guilty to racketeering charges in a mortgage fraud scheme involving one of the nation's largest sub-prime mortgage companies, Attorney General Bill McCollum. ...more

February 13, 2008

The Bush administration and six large mortgage lenders unveiled a plan Tuesday to offer 30-day reprieves to some homeowners facing foreclosure. ...more

February 13, 2008

Florida's attorney general is investigating Countrywide Financial Corp., a beleaguered California-based mortgage lender, for possible unfair and deceptive business practices related to its home loans. ...more

February 1, 2008

Mortgage brokers who haven't fled the industry or been forced out are in survival mode. ...more

February 1, 2008

World economic growth will slow significantly in 2008, but the United States, whose housing downturn is rattling global financial markets, will avoid recession, the International Monetary Fund forecast Tuesday. ...more

January 30, 2008

For the past few years, banks that issue credit cards have aggressively wooed affluent customers with lavish perks and fat credit lines. Now, that high-end strategy is coming back to bite the banks: There are growing signs some of those consumers are having a hard time paying their bills. ...more

January 15, 2008