Real Estate News – November 27, 2012

A Justice Department lawyer told a federal judge Tuesday that the government is close to charging the last round of defendants in the sweeping investigation into corruption at Las Vegas Valley homeowners associations (via lvrj.com): http://bit.ly/118PExm

Mortgage Interest Deduction, Once a Sacred Cow, Is Under Scrutiny (via CNBC.com): http://bit.ly/113gtD8

Chinese buyers lead foreign investment in US housing market (via foxnews.com): http://fxn.ws/118U4V5

Michigan Attorney General Bill Schuette has charged the former president of a mortgage document company with racketeering for her alleged role in authorizing fraudulent mortgage documents (via detroit.cbslocal.com): http://cbsloc.al/U7KoWF

Beginning on Jan. 1, people who lose their home to foreclosure will be required to pay federal taxes on any unpaid mortgage the bank can’t recoup through an auction. The same will be true for homeowners whose loan principal is reduced by a mortgage modification, with the wiped-out loan being treated as taxable income (via huffingtonpost.com): http://huff.to/XNBYtD

New FHA financing rules could help boost multi-family housing market (via nwitimes.com): http://bit.ly/QjE9B4