Real Estate News – August 24, 2011
Investors are renting out about half of the homes they purchase instead of renovating or flipping the properties, according to a new survey (via REALTORMag):
Homeowner Associations in Need of Cash Sue to Force Foreclosures (via Bloomberg.com): http://bloom.bg/oSkJOJ
Judge Melvin Hoffman of the U.S. Bankruptcy Court for Massachusetts overturned the foreclosure of a property transferred through MERS earlier in the week. This case could potentially have widespread ramifications on foreclosures in Massachusetts, as well as other states (via totalmortgage.com): http://bit.ly/npQYWL
The Justice Department moved to bolster its accusations that Deutsche Bank AG officials knowingly lied about the quality of mortgages made by a unit of the bank that were guaranteed by the government (via online.WSJ.com): http://on.wsj.com/qyryX4
Wall Street banks are planning to sell as much as $5 billion of bonds tied to commercial mortgages as they offload loans agreed to before credit markets stumbled and amid growing concern that the economy is faltering (via Bloomberg.com): http://bloom.bg/qZy5sH