Real Estate News – November 11, 2011





Long-Term Foreclosure Backlogs To Blame for Homes with Underwater Mortgage (via GoBankingRates.com):
http://bit.ly/vhB6TK


A dozen corporate executives and Maryland officials wielding sledgehammers broke a row of windows at a downtown Bethesda office building yesterday. The noisy operation was part of a ceremony commemorating the start of redevelopment at 7550 Wisconsin Avenue, a joint venture of Washington commercial real estate developer Akridge and Rockwood Capital, LLC, who bought the vacant property from the General Services Administration last spring (via MarketWatch.com): http://bit.ly/rzLS0B


Goldman Sachs Group Inc faces lawsuits over $15.8 billion worth of mortgage securities, the bank said in a regulatory filing on Wednesday, a more than 30-fold increase from the amount disclosed three months earlier (via Reuters.com): http://reut.rs/vie3IQ


Ginnie Mae Passing Freddie Mac as Second-Biggest Mortgage Funder (via Businessweek.com): http://buswk.co/tk3JOm


After Walking Away from a Mortgage, No Regrets—Not Many Consequences Either (via monelyand.time.com): http://ti.me/s1On76


In the latest in a series of such lawsuits, the Aliante planned community’s homeowners association in North Las Vegas is accused of gouging buyers of foreclosed homes (via lasvegasinc.com): http://bit.ly/rV0E49


Ally, which become a bank  in 2008 with the help of bailout money, is considering putting ResCap, its residential mortgage unit, into bankruptcy. What does this mean for the bank as a whole? (via csmonitor.com): http://bit.ly/uzJQG5


Lehman Brothers Holdings Inc , which hopes next month to win court approval of its bankruptcy reorganization, agreed to a $40 million settlement of investor lawsuits claiming $7.7 billion of damages from mortgage debt (via Reuters.com): http://reut.rs/s2jX9Q


The federal government is trying to unload some real estate, and your buyers can now start the bidding in online auctions on various government properties, including residential homes in sought-after areas (via REALTORMag): http://bit.ly/szB1uq


A tenth person has pleaded guilty to a Las Vegas condominium homeowner association fraud scheme (via Fox5Vegas.com): http://bit.ly/w0osk3


 



 

Posted in Real Estate Law