by reggielal on January 18, 2012
Court records indicate that O. J. Simpson is facing foreclosure on his Miami home while he is in prison in Nevada.
JPMorgan Chase filed for foreclosure on the four-bedroom, four-bath house in Kendall in September, the Associated Press reports. Simpson’s attorneys have since filed a motion to dismiss the case.
Simpson bought the house in 2000 for $575,000. It is currently assessed at $478,000, the AP says, citing Miami-Dade Circuit Court records.
Simpson, 64, is serving a prison sentence of nine to 33 years on a conviction of kidnapping and armed robbery in connection with an armed confrontation in Las Vegas with a sports memorabilia dealer.
The former football player and actor was acquitted in 1995 in Los Angeles of killing his ex-wife, Nicole Simpson, and her friend, Ronald Goldman.
by reggielal on January 17, 2012
A recent study from the Government Accountability Office (GAO) found that non-seasonal vacant properties across the United States rose 51 percent over the span of a decade, from nearly 7 million in 2000 to 10 million in April 2010.
Ten states saw vacancies go up by 70 percent or more as a result of high foreclosure rates. Those with the largest increases over the last decade were Nevada (126 percent), Minnesota (100 percent), New Hampshire (99 percent), Arizona (92 percent), and Florida (90 percent). Georgia, Michigan, Colorado, Rhode Island, and Massachusetts also experienced increases above 70 percent.
The elevated number of vacant homes carries with it a hefty price tag for lenders that must resume ownership after foreclosure. GAO found that in 2010, Fannie Mae and Freddie Mac reimbursed servicers and vendors over $953 million for property maintenance costs.
However, it’s local governments, many of which are already dealing with depleted funds, that are feeling “significant” pressures from the rise in home vacancies, according to GAO.
