Real Estate News – May 25, 2011





State attorneys general told five of the nation’s largest banks on Tuesday they face a potential liability of at least $17 billion in civil lawsuits if a settlement isn’t reached to address improper foreclosure practices, according to people familiar with the matter (via blogs.WSJ.com): http://on.wsj.com/k0DqHF


Even the Grim Reaper can’t escape HOA or code enforcement (via gazette.com): http://bit.ly/iBYesV


The attorney general for the state of Utah sent Bank of America Corp. (BAC) Chief Executive Brian Moynihan a letter last week warning him one the bank’s units was conducting illegal foreclosures in Utah (via online.WSJ.com): http://on.wsj.com/kPCiyz


California Atty. Gen. Kamala D. Harris said Wednesday she had subpoenaed the behemoth foreclosure-processing firm Lender Processing Services as part of an ongoing probe into home repossession practices in the Golden State (via LATimes.com): http://lat.ms/ldKctQ


Five sentenced in real estate scam that cost some their life savings (via Carolinalive.com): http://bit.ly/j0zr8B