Daily Archives: March 26, 2013

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Cyprus Banks: Customers Face Transaction Limits

Cyprus Banks: Customers Face Transaction Limits

Nicos Anastasiades said the island will introduce some limits on transactions to prevent an outflow of money when its banks reopen – due on Thursday – but the measures will be “very temporary”.

Banks have been closed since March 16 to avert a run on deposits as the country’s politicians struggled to come up with a plan that would raise enough funds to qualify for an international bailout.

In a televised address to the country, the president said: “The central bank will implement capital controls on transactions. I want to assure you that this will be a very temporary measure that will gradually be relaxed”.

He did not specify what limitations would be imposed on transactions.

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Extreme home takeover: dubious deeds used to scoop up Dade properties

Extreme home takeover: dubious deeds used to scoop up Dade properties

Scavenging the remnants of South Florida’s housing crisis, a partnership called Presscott Rosche appeared to gobble up almost three dozen foreclosed homes in Miami-Dade County last year. The company is currently listed as the owner of 12 homes worth about $3.5 million, according to the Miami-Dade property appraiser.
But this seemingly thriving business is, in many ways, an illusion. The name of the company’s agent listed in state records is fake. So are many of the deeds the company has filed in Miami-Dade Circuit Court to stake its claim to more than 30 houses and condos, a Miami Herald investigation has found.
The company has gained control of these homes — renting them out to unsuspecting tenants, in some cases — by filing dubious deeds and documents filled with legal-sounding jargon and shoddy punctuation. The author of many of these documents calls himself an “attorney in fact,” though he is not, in fact, a licensed attorney in Florida.
“I never saw anything like that. It wasn’t even spelled right,” said Shelley Hallen, an actual attorney who beat back Presscott Rosche’s efforts to evict four college students from a Coral Gables house last fall.

Read more here: http://www.miamiherald.com/2013/03/23/v-fullstory/3303540/extreme-home-takeover-dubious.html#storylink=cpy