Real Estate News – August 16, 2011




Freddie Mac’s HomeSteps unit is offering cash to buyers willing to purchase one of its foreclosed condos that has been lingering on the market. HomeSteps is hoping to unload some of its high inventory of foreclosed condos through the incentive program, known as HomeSteps Condo Cash (via REALTORMag): http://bit.ly/ov7Tgg


A possible settlement of a 50-state probe of foreclosure practices drew more state scrutiny as Nevada’s attorney general joined three other states in voicing concern about a deal that protects banks from continuing mortgage investigations (via Bloomberg.com): http://bloom.bg/pgZMzZ


Legendary actor Burt Reynolds is facing an off-screen drama, in the form of a foreclosure lawsuit that seeks to collect about $1.2 million for a mortgage on his nearly 4-acre Indian Hills estate on the Intracoastal Waterway in Florida (via Kare11.com): http://bit.ly/r96nz5


Allstate is suing Goldman Sachs Group, saying more than $122 million in mortgage-backed securities the insurance company bought beginning in 2006 were fraudulent (via USAToday.com): http://usat.ly/p0KyJe


 


 

Posted in Blog, Real Estate Law