Real Estate News – May 17, 2011



Jamie Dimon, JPMorgan Chase & Co. (JPM)’s chairman and chief executive officer, said he was sorry for foreclosure mistakes as hundreds of protesters at the annual meeting demanded he do more to help homeowners and small businesses recover from the financial crisis (via Bloomberg.com): http://bloom.bg/mAlpAw


A New Jersey man who owned and operated several mortgage foreclosure rescue companies has pleaded guilty in a scheme that defrauded mortgage lenders of more than $10 million (via Forbes.com): http://onforb.es/mQaHHr


US Sen. Akaka and other introduce legislation aimed at curtailing foreclosures (via therepublic.com): http://bit.ly/imOMos


Housing Starts and Permits Show Construction Sagging (via theatlantic.com): http://bit.ly/mfjTNr


The New York attorney general’s office has requested information from three major banks about their mortgage operations, according to a source familiar with the matter (via Reuters.com): http://reut.rs/lucdjD


As home values decreased and more borrowers found themselves underwater, some home owners were opting for “strategic default,” choosing to stop making mortgage payments even though they could afford to pay. But analysts say the trend is on the decline (via REALTORMag): http://bit.ly/kYXzTq


For more than two weeks now the death of  Osama bin Laden, the Al Qaeda mastermind behind the airplane terrorist attacks of 9/11, has been welcome news in the U.S.   It’s also translated into some welcome news for commercial real estate, specifically the World Trade Center project (via Forbes.com): http://onforb.es/kEXHp2



 

Posted in Blog, Real Estate Law