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Tag Archives: residential real estate

Commission rejects proposal for Deer Island development

BILOXI — The Biloxi Planning Commission has rejected a proposed development on the west end of Deer Island. The Sun Herald reports the commission recommended denial of a zoning change. The issue next goes to the Biloxi City Council for a decision. Larry Mitrenga has proposed the Oasis at Deer Island. Mitrenga has described the resort with eight three-story buildings, ...

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Report: State's foreclosure rate fell in 2011

ACROSS MISSISSIPPI — The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed, a national foreclosure tracking firm said yesterday. Irvine, Calif.-based RealtyTrac said that in 2011, 3,172 homes in the state were hit by some sort of foreclosure action. Those range from an initial notice of default to repossession ...

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City may have to reimburse $300K to HUD

JACKSON — Mississippi’s capital city may have to reimburse more than $300,000 to the U.S. Department of Housing and Urban Development over lax oversight that led to the misuse of more than $1 million in federal grants over several years. The reimbursement may be necessary for Jackson to get $1.15 million in housing funding restored. The Clarion-Ledger obtained a HUD ...

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Homeowners eligible for FHA loan program

BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says many of the homes in ...

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City raises landlords' fees, fines for noncompliance

TUPELO — Tupelo landlords have been sent letters informing them of a new ordinance that will raise their business costs starting Jan. 1 and what fines they face if they don’t comply. The Northeast Mississippi Daily Journal reports 750 rental property owners received the letter, a registration form and new fee schedule. The new ordinance requires rental property owners to ...

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Four sentenced for their role in mortgage scheme

JACKSON — Four people who pleaded guilty almost five years ago in a mortgage fraud schemes have been sentenced. Prosecutors said the scheme began in September 1999 and ended in 2005, when charges were filed. It involved two related cases totaling about $5.8 million in fraudulent mortgage loans. The Clarion-Ledger reports three people were sentenced yesterday, including former Greenville real ...

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Senators urging peers to overturn flood insurance provision

WASHINGTON — U.S. Senators Thad Cochran (R-Miss.) and Mark Pryor (D-Ark.) have launched an effort to convince their colleagues to overturn a provision in Senate legislation that would require federal flood insurance coverage in areas already protected by levees, dams or other flood control structures. Cochran and Pryor are asking their colleagues to join them in signing a bipartisan letter ...

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Home sales up, prices down in South Mississippi

SOUTH MISSISSIPPI — The pace of home sales in South Mississippi is up for the first nine months of 2011 but the average price is not. From January through September, 267 more homes were sold than for the same period last year. The Sun Herald reports those who sold their homes this year received an average of $117,876, which is ...

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