Real Estate News – March 21, 2012
New angles on reverse mortgages (via Reuters.com):
Efforts to dupe timeshare owners are spreading throughout California, prompting the state Department of Real Estate to issue a fraud alert warning about the practice (via OCRegister.com): http://bit.ly/GJqwqx
Foreclosure Rescue Scam Company Owner Pleads Guilty in Philadelphia (via LoanSafe.org): http://bit.ly/GENVCN
States and municipalities may be inadvertently putting in roadblocks and costing taxpayers more when they approve policies that prolong the foreclosure process, such as by extending mediation services, Alfred Pollard, general counsel for the Federal Housing Finance Agency, testified at a House panel on Monday (via REALTORMag): http://bit.ly/GF1jOs
Large banks have made big strides in the last three years in selling and modifying their bad loans stemming from sour commercial real estate deals and now are even starting to pick up lending once again in the sector (via REALTORMag): http://bit.ly/GIVDfK
Downtown Mpls. digs to get a facelift (via StarTribune.com): http://bit.ly/GF9ODw
Aggressive foreclosures backfire on Florida homeowners associations (via TampaBay.com): http://bit.ly/FR2Omq
The homeowners association for a downtown Indianapolis condominium is suing the well-known developer of the project, claiming faulty construction has resulted in significant damage to the structure (via ibj.com): http://bit.ly/ym9oKc
The Treasury Department announced on Monday that it had finished selling the $225 billion in mortgage-backed securities it bought to help stabilize the markets during the worst of the financial crisis (via NYTimes.com): http://nyti.ms/GCzDmD
The amount of commercial real estate backed by troubled loans in the United States continues to fall from a high of $191.5 billion set in March 2010 (via WashingtonPost.com): http://wapo.st/zmOQiJ
Fourth time may be the charm for singer Britney Spears, who is trying once again to sell her Beverly Hills, Mediterranean-style estate, now at half the cost of the original asking price (via REALTORMag): http://bit.ly/GzqH4c
Economists say the housing market is starting to heal, but too many people aren’t aware of it because they’re judging a housing recovery on the wrong sign: What’s happening with home prices (via REALTORMag): http://bit.ly/GBORZp
The Federal Reserve announced it will fine eight more banks for allegedly improperly foreclosing on home owners. The financial institutions were not included in the recent $25 billion mortgage settlement involving the nation’s five largest banks (via REALTORMag): http://bit.ly/GDjpwM