Real Estate News – October 23, 2011


Atlanta may offer foreclosed homes to first responders (via PoliceOne.com): bit.ly/ofQBUD

County Wins Key Elements of Tax Foreclosure Case (via madisoncountycourier.com): bit.ly/rmLhiB

A new law proposed by Senators Chuck Schumer (D) from New York and Mike Lee (R) from Utah would award a three-year residential visa to foreigners who spend at least half a million dollars on residential real estate (via scpr.org): bit.ly/o8y0Lw

Bank of America Corp. was given a subpoena by California’s attorney general for information related to the packaging and sale of mortgage-backed securities, a person familiar with the matter said (via BusinessWeek.com): bit.ly/qwDyiq

A former property manager has become the seventh person to take a plea deal in a federal investigation of Las Vegas-area homeowner associations steering business to favored attorneys and businesses (via therepublic.com): bit.ly/pwxa4t

PMI Group Inc., the mortgage insurer that was ordered in August to stop writing policies, said a unit that sells such coverage was seized by Arizona authorities and will pay out claims at 50 percent starting tomorrow (via BusinessWeek.com): buswk.co/oyJHd9

A 46-year-old Green Bay man has been charged with setting fire to his home that was in foreclosure (via ChicagoTribune.com): trib.in/odmLmK

Until recently, subprime mortgages were pointed out as the central culprit in the majority of Minnesota mortgage delinquencies. A subprime mortgage is often characterized by high interest rates, unfavorable terms and, in many cases, awarded to an individual who will likely have difficulty with repayment (via ChaskaHerald.com): bit.ly/ngMMsM



Posted in Blog, Real Estate Law