Whistler Blackcomb: Latest report on Intrawest’s Olympic real estate foreclosure (Video)
Brian Austin Green house in Los Angeles facing foreclosure
The Hollywood Hills home of former “Beverly Hills, 90210″ star, Brian Austin Green, has fallen into “strategic” foreclosure.
TMZ.com reports that the man also known as David Silver has failed to make recent mortgage payments on his 3,374 sq. ft. four-bedroom, three-bathroom home at 7387 Woodrow Wilson Dr.
To check out the preforeclosure listing on Foreclosure.com click here. For more pics click here.
Green, who has had the “charming” English Tudor-style home on the market for around $2.3 million for most of 2009, has apparently coordinated a short sale while not paying his mortgage.
Mr. Megan Fox, as he’s often referred to these days because of his super successful girlfriend, is reportedly behind $71,000 on a $2 million loan from SunTrust Mortgage Inc., which isn’t likely all that much to afford for the couple.
Nonetheless, he’s on the hook for the balance and/or the successful sale of the home. The good news is that there is currently no auction date set.
Villa Ferrari: Scott Storch house in Miami sold to ROCKSTAR energy drink
It’s time to party like a ROCKSTAR.
The former 20,000 sq. ft. waterfront mansion of big-time music producer, Scott Storch, which is located on Palm Island Estate in Miami Beach, Fla., has been purchased by ROCKSTAR energy drink for an undisclosed sum, according to a recent press release.
“Villa Ferrari” includes 11 master suite bedrooms, 15 bathrooms, three guest houses, two pools and a 100-foot boat dock, among other jaw-dropping amenities. It was recently listed on the market for as much as $14.9 million and as little as $5.5 million.
To check out the “Villa Ferrari” listing at 70 Palm Ave., as well as photos of the extravagant property, click here and here.
Storch — who has produced chart-topping albums for major musical artists such as Justin Timberlake, Mariah Carey and Brittney Spears — recently lost the home in a foreclosure auction to his lender, Suntrust Bank, at the price of $5.5 million dollars. It was sold shortly thereafter to Weiner Rusell Trust for $6.75 million.
Now the newest owner, ROCKSTAR, plans to uphold the tradition of “Villa Ferrari,” promising to host “some of Miami Beach’s most exclusive parties and events.”
Check out a video tour of the new ROCKSTAR luxury estate after the jump.
How will a short sale affect me and/or my credit score?
Professionals from our education and customer service departments are always fielding this question, whether it’s from a Webinar attendee or a distressed homeowner facing foreclosure.
First let’s be clear: A short sale will ding your credit score, lowering it anywhere from 80 to 100 points.
However, it is a much better option than foreclosure, which can drop your score as much as 250 to 280 points for as long as seven years.
Therefore, it is always in a homeowner’s best interest to short sale or sell his or her home by other means before forfeiting it back to the bank/lender.
One very important item that must be top of mind when thinking about short selling your house, however, is whether or not you will be hit with a deficiency judgment.
In a short sale transaction, a bank agrees to sell a home for less than what it is owed by the original borrower. And even though a bank may sign off on the deal, it could still hold the original borrower accountable for the difference on the short sale.
In other words, if you bought your home for $300,000 and sold it as a short sale for $215,000, you could still potentially be on the hook for $85,000.
For most people a deficiency judgment is the final financial blow that forces them into total economic submission: Bankruptcy.
Jay Z hotel: New York City project falls into foreclosure; High stakes legal battle ensues
There’s a battle brewing on Manhattan’s West Side between “Jay-Z” (also known as Shawn Carter) and Highland (Highland) Capital Management LP — a bank located Dallas, Texas, that granted the superstar hip-hopper and his business partners a $52 million loan to build the J Hotel.
Despite his best efforts, it appears that the super successful businessman (he also co-owns several businesses, including The 40/40 Club and the New Jersey Nets) might not be able to freestyle his way out of losing millions on a deal that never got off the ground.
Literally.
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