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Tag Archives: residences

Settlement reached in tainted Chinese drywall case

NEW ORLEANS — A settlement outlined yesterday between a major manufacturer of Chinese-made drywall and homebuilders who used the tainted product in Florida, Texas, Louisiana and Mississippi could affect anywhere from 800 to 1,500 homes, attorneys said. Lawyers called it a significant step toward resolving problems with some 10,000 buildings blamed on the drywall. Plaintiffs’ lawyer Bruce Steckler said the ...

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City to offer incentives for new home construction

PASCAGOULA — The City of Pascagoula will waive up to $5,000 in permit and utility connection fees for some new home construction. The Mississippi Press reports city council members hope to spur homebuilding. “I’m excited about the ordinance (that waives the fees),” City Manager Joe Huffman said. “I think it’s a real opportunity to make a difference and create investment ...

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Two sentenced for role in mortgage fraud scheme

JACKSON — Former mortgage brokers Jason Ellis and Michael Persac will forfeit more than $3 million and pay more than $781,000 in restitution for their part in a mortgage fraud scheme. Ellis and Persac, out on bond since they were charged in 2005 in a mortgage fraud case, also are going to prison after their sentencings Wednesday in U.S. District ...

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Ex-judge to be sentenced for mortgage scam

GREENWOOD — Former Greenwood attorney and judge Bobby Fisher will be sentenced tomorrow for his role in a mortgage scam. The Greenwood Commonwealth reports Fisher is to appear before U.S. District Judge Henry T. Wingate in Jackson. In January 2006, Fisher and former real estate agent Jim Pruett pleaded guilty to a scheme of falsifying mortgage application documents. Pruett was ...

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Magnolia opens new office, acquires Advantage

FLOWOOD — Magnolia State Bank has opened its new location in Flowood, and has completed the acquisition of Advantage Mortgage Corp. The new mortgage division is set to open Nov. 1 as Advantage Mortgage, A Division of Magnolia State Bank. The office is located at 437 Katherine Drive and will house seven employees. The location will have a night deposit ...

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Coast neighborhood opposed to amusement parke

BILOXI — Residents in one of Biloxi’s oldest neighborhoods are opposing plans for an amusement park in their area. Homeowners in Biloxi’s Edgewater Park said the plan would damage the quality and character of the neighborhood. WLOX TV reports the entertainment park proposed for the area would likely include a 30-foot water slide, go carts and music. Opponents voiced their ...

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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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State's foreclosures up 27 percent over prior quarter

ACROSS MISSISSIPPI — Nearly 600 Mississippi homeowners reached the end of the line during the third quarter, losing their homes to foreclosure. That’s according to Irvine, Calif.-based RealtyTrac, which tracks foreclosure actions nationwide. RealtyTrac said 1,069 properties were targeted for some sort of foreclosure action from July through September. Of those, lending institutions took back 583 and the other 486 ...

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Court hears another wind-versus-water case

PASCAGOULA — A decision is pending from the Mississippi Supreme Court in another wind-versus-water case, this one involving a Pascagoula home subjected to 6.3 feet of storm surge. The National Flood Insurance Program paid Jackson County sheriff’s deputy Michael Robichaux and his wife, Mary, who has since died, policy limits for the loss of their home and its contents — ...

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