Real Estate News – August 18-20, 2011




Home owner Kim Orsi is taking her battle against two lenders to court, after being denied a loan modification — a possible sign of more such lawsuits to come (via REALTORMag): http://bit.ly/roOHRv


Alleged foreclosure-prevention scam shut down by California (via latimesblogs.latimes.com): http://lat.ms/nxs1vY


Is the Fed Preventing a Housing Market Rebound? (via theatlantic.com): http://bit.ly/o7IAMO


Justice Department Joins Probe of S&P, Rivals Over Crisis-Era Ratings (via NewYorkTimes.com): http://on.wsj.com/p4Dz7R


Protesters invade bank headquarters to demonstrate against foreclosure practices (via pasadenastarnews.com): http://bit.ly/pfhdTZ


U.S. District Court Judge John J. McConnell Jr. has put more than 60 cases challenging foreclosure proceedings across Rhode Island on hold and ordered the banks and borrowers to engage in “directed and serious” settlement talks (via projo.com): http://bit.ly/na7y9F


The painfully slow rate of job growth can be blamed at least in part on home mortgage modifications that reduce house payments for struggling homeowners, because such policies incentivize people to stay where they are instead of moving to better job markets, according to a new paper by researchers Kyle F. Herkenh and Lee E. Ohanian, both at UCLA (via blogs.wsj.com): http://on.wsj.com/q3w6vi


After her mother’s duplex was foreclosed following a predatory loan, Leslie Parks signed a mortgage on the south Minneapolis duplex (via StarTribune.com): http://bit.ly/q3edbS


Pasco couple fear losing home to foreclosure for paying mortgage too early (via tampabay.com): http://bit.ly/mXnUKx


It may soon be possible for residents of foreclosed homes to remain in their home — as tenants instead of owners (via siouxcityjournal.com): http://bit.ly/rov067


First-Time Property Investors Getting Involved in the Market (via realestate.bryanellis.com): http://bit.ly/qUBqlt


 


 


 


 

Posted in Blog, Real Estate Law