Real Estate News – June 4-6, 2011



There’s something for everyone in the real estate news today:


Couple Attempts to Seize Bank of America’s Furniture, Computers (via Gawker.com): http://gaw.kr/kPquBM


Court ruling gives hope to homeowners facing foreclosure (via MLive.com): http://bit.ly/kd51XY


Housing slide worse than Great Depression? (via HotAir.com): http://bit.ly/k0CQ1I


The seamless flow of information between local, state and federal governments is unsettling, especially since it often means tax bills from one or the other.  Now, there’s a new fear: Local property transfers show up in county recorder or property tax offices, and the IRS is mining them for gift tax compliance (via blogs.Forbes.com): http://onforb.es/khIij8


The Hidden Cost Of Cutting The Mortgage Deductions (via businessinsider.com): http://read.bi/mzuays


Question Of Religious Protection Lands On Texas Governor’s Desk (via theyeshivaworld.com): http://bit.ly/jQPIDD


A bill that would put a $3,300 “hard cap” on collection fees when a homeowner becomes delinquent on HOA dues is still alive during the final scrum at the Nevada Legislature (via lasvegassun.com): http://bit.ly/lYZo4S


Foreclosure ownership gaps leave ‘rotting’ homes (via nwherald.com): http://bit.ly/iSaueb


Foreclosure woes: For one homeowner, following bank’s advice was bad news (via newsherald.com): http://bit.ly/l5nIsY


Renters, not owners, now driving housing market (via TheState.com): http://bit.ly/ifVh8X


For years, a mortgage default has pretty much been a guarantee that you would be renting or creatively financing your next home. Now, however, banks and other lenders are beginning to adjust their policies on former homeowners who defaulted on their mortgages, extending credit “beyond the best borrowers to include those with significant blemishes on their credit reports” (via realestate.bryanellis.com): http://bit.ly/im15k1


Investors who lost their life savings to a hard money lender in Nevada County, California, are blaming the DA for not following up on fraud allegations sooner because he had ties to the lender (via realestate.bryanellis.com) http://bit.ly/jYbEll


A 59-year-old Madison, Wisconsin man received a citation for criminal damage to property after allegedly poisoning his neighbor’s tree through a root in his yard (via twincities.com): http://bit.ly/kTCZqr


The Mortgage Bankers Association says loan originations plummeted 35 percent to $325 billion in the first quarter and likely will hover around $1 trillion for all of 2011 and stay put next year (via REALTORMag): http://bit.ly/kEjXdC


Fannie Mae on Monday detailed a list of new rules for home mortgage servicers aimed at streamlining the foreclosure process (via chicagotribune.com): http://trib.in/llEnTR


Out-of-work homeowners get little help (via money.msn.com): http://on-msn.com/mry2ov


 



 

Posted in Blog, Real Estate Law