Real Estate News – June 17-19, 2011



Addressing a group of 200 real estate agents, mortgage brokers, attorneys, home inspectors, and property managers, Attorney General Martha Coakley highlighted today her proposed legislation to address the ongoing mortgage foreclosure crisis that has gripped the Commonwealth (via LoanSafe.org): http://bit.ly/jyF9ep


The chairman of Georgia’s state Senate Banking Committee, already the subject of lawsuits over a failed bank and bank debt, could lose a Forsyth County property to foreclosure (via ajc.com): http://bit.ly/kuwFe1


A Fairfield, California real estate broker has been charged by a federal grand jury in a nine-count indictment alleging investment and mortgage fraud (via thereporter.com): http://bit.ly/jleWOP


U.S. regulators could file civil fraud charges against some credit rating agencies, and settle with more Wall Street banks, for their role in developing mortgage-bond deals that helped trigger the financial crisis, the Wall Street Journal reported, citing people familiar with the matter (via Reuters.com): http://reut.rs/jmEhmI


Wells Fargo & Co. said Thursday it will stop making reverse mortgages, joining rival Bank of America Corp. in abandoning the product for senior citizens (via sacbee.com):
http://bit.ly/lb8zi3


Saratoga County’s ‘Mini-Madoff’ ordered to repay $1.7M in mortgage fraud case(via poststar.com): http://bit.ly/jEOu8x


The nation’s two biggest providers of reverse mortgages are no longer offering the loans, as the economics of the business have come under pressure (via nytimes.com): http://nyti.ms/j9foCR


Three years into the foreclosure epidemic, desperate condominium and homeowner associations are now beginning to employ aggressive law firms and collection agencies in a new tactic aimed at recovering delinquent fees (via heraldtribune.com): http://bit.ly/mgrltn


Single-family homes that are maintained by an association offer privacy and convenience. And although the low-maintenance housing is aimed at baby boomers, local builders are discovering that they appeal to young singles and families, as well (via StarTribune.com): http://bit.ly/mC4IXO


Anthony Tolliver takes positive steps to real estate (via espn.go.com): http://es.pn/ls11Ak


‘Zombie notes’ live to haunt deed transfers (via news-press.com): http://bit.ly/jG1bbF


 


 

Posted in Blog, Real Estate Law