Feb 4th 2011 3:23PM
When Junaid Nazeer's wife, Neelofur, lost her job as a pathologist for a private medical lab her income plummeted from $400,000 to just about one-fifth of that. Now Neelofur is working through a fellowship to be a pathologist in a hospital environment. In November 2010, six months after she lost her job, the Chicago couple... Continue Reading »
Jun 18th 2010 2:16PM
Mortgage modifications may not be the solution to the nation's housing problems, after all. Fitch Ratings predicts that 65 percent to 75 percent of modifications on subprime mortgages will redefault in 12 months. The redefault level predicted for prime loans that have been modified is slightly lower -- 55 percent to 65... Continue Reading »
Jun 8th 2010 8:30AM
Maybe you've considered refinancing your mortgage with a loan from a smaller bank. Well the next time you go to visit, the sign on the bank window may say "closed." That's because many small and regional banks are under serious pressure from the growing troubles in commercial real estate. Three more banks failed this week... Continue Reading »
Apr 26th 2010 1:30PM
New York City's Mark Hotel is caught up in an upper-crust real estate version of the Cold War. Russian billionaire Shalva Chigirinsky, a self-made oil mogul, is suing the Upper East Side boutique hotel. He wants to terminate his contract for the purchase of a $15.75-million luxury penthouse apartment. Included in his... Continue Reading »
Apr 14th 2010 3:30PM
Tomorrow's episode of HGTV's "Selling New York" shows all of us real estate voyeurs how much more there is to selling real estate (the therapy, the intensive research) than just the sale. We spoke to CORE Group broker Lisa Graham who in the episode helps a client choose between buying a new home in the West Village or... Continue Reading »
