Real Estate News – June 24, 2011



Banks negotiating with state attorneys general over foreclosure practices would be sued if a settlement isn’t reached, two of the state officials leading the talks said (via Boston.com): http://bo.st/kuxTC9


Four charged in fraud scheme targeting homes in foreclosure (via twincities.com): http://bit.ly/kEnOkk


Two Michigan counties, Oakland and Ingham, are suing some of the biggest players in the mortgage industry for what one official called a “fraudulent conspiracy” to avoid paying state and county property transfer taxes (via michiganmessenger.com): http://bit.ly/jWXTMJ


Federal Reserve Chairman Ben Bernanke has a recipe for helping the housing market: Modify more loans and speed up foreclosures to get rid of a glut of distressed properties clogging the system (via Reuters.com): http://reut.rs/mo0FHb


Recent data shows the percentage of strategic defaults is on the decline, but still account for nearly one-fifth of serious mortgage delinquencies. Furthermore, the share of strategic defaulters in the jumbo mortgage space is actually growing (via HousingWire.com): http://bit.ly/mQUyCu



 

Posted in Blog, Real Estate Law