Real Estate News – August 11, 2011




Foreclosure filings dropped again in July, marking the 10th straight month for year-over-year declines and reaching their lowest level since November 2007, RealtyTrac reports. But analysts are still mostly attributing the drop to banks’ processing delays as they take more time to take action against delinquent home owners (via REALTORMag): http://bit.ly/p2rHt2


The Obama administration, aiming to boost a housing market showing little sign of recovery from the 2008 credit crisis, is seeking ideas for renting, selling, or disposing of foreclosed homes controlled by the government (via Boston.com): http://bo.st/o6OVnL


On the same day Tim Collette welcomes his soldier son back for leave from Iraq, he loses his Oregon house to foreclosure. But unlike many homeowners, Collette is fighting back (via latimes.com): http://lat.ms/p78UXb


A Missoula City Council committee has approved a financial deal to prevent foreclosure on the baseball stadium where the minor league Missoula Osprey play and bring it into city ownership (via greatfallstribune.com): http://bit.ly/n1010Y


The octogenarian billionaire George Soros has been sued for $10 million by a former Brazilian soap star who said he reneged on promises to give her an expensive apartment on Manhattan’s Upper East Side (via moneycontrol.com): http://bit.ly/nW9jT6


Chinese Pump $1 Billion Into NY Real Estate (via Newsmax.com): http://bit.ly/qxyHPQ


A federal grand jury has indicted a Cincinnati real estate agent with fraud.  44 year old Rodney Riddle is accused of  obtaining $6,971,870 in loans on approximately 59 properties by convincing his clients, which included close friends and fellow church members, to purchase residential properties at over-inflated prices (via local12.com): http://bit.ly/qsI7cQ



 

Posted in Blog, Real Estate Law