Thursday, September 23, 2010

For those who are interested here is a link and a teaser of what is going on with mortgages as reported by The Washington Post.  You may have to do a very simple registration to access all 3 pages.  You can also 'google' the topic for other information.
Click on Link:

Under piles of paperwork, a foreclosure system in chaos

Washington Post Staff Writers
Thursday, September 23, 2010

The nation's overburdened foreclosure system is riddled with faked documents, forged signatures and lenders who take shortcuts reviewing borrower's files, according to court documents and interviews with attorneys, housing advocates and company officials.

The problems, which are so widespread that some judges approving the foreclosures ignore them, are coming to light after Ally Financial, the country's fourth-biggest mortgage lender, halted home evictions in 23 states this week.

In some Florida courts, for instance, many judges automatically approve a foreclosure unless a borrower can point to a specific problem. Homeowners are given five minutes for a presentation. Often, they do not bother to show up.

Also see 'How Foreclosure Works' at:

Sunday, September 19, 2010

NCC Condo Owner Must Do 57 Months -

3-judge panel denies Reed appeal

A federal court has upheld the 57-month sentence imposed on Dr. Michael Reed, the owner of condo #205. He is a local surgeon who pleaded guilty to a federal drug conspiracy charge last year.

Reed was found with a kilogram of cocaine at his residence when he was arrested. He was accused of using half of the kilo for personal use and selling the other half with the help of co-defendant Hector Melara. Eight people were charged in the case.

A three-judge panel of the U.S. Court of Appeals 11th Circuit ruled Thursday that the judge was within his discretion when the sentence was handed down.

On 3/15/10 Nautilus Cove filed a lien for $3,827 on his unit, additional missed quarterly payments make the amount owed $5,211.

Reed is currently at:

MICHAEL REED 07155-017
with a Release Date of:  09-07-2013

Thursday, September 2, 2010

Nautilus Cove Budget for 2010
Misc FYI:  The document title should read '2010 Proposed Budget'.  It was put together in 2009 and approved by the BOD on Dec. 20, 2009 as the 2010 budget.

Click on for larger image:

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