Real Estate News – October 3, 2011




Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday (via CNBC.com): http://bit.ly/rfOER1


California Attorney General Kamala D. Harris pulled out of settlement negotiations with the nation’s biggest banks over alleged foreclosure abuses, calling the proposed deal “inadequate for California homeowners” (via online.wsj.com): http://on.wsj.com/nFsYlf


Raffling homes is a growing trend among nonprofits. But if they’re offered in Minnesota, buyer beware (via StarTribune.com): http://bit.ly/pbPdDv


Deputies investigate explosion of HOA president’s mailbox (via wtsp.com): http://bit.ly/rjDpVM


Bank of America Corp.’s Countrywide unit was sued by Sealink Funding Ltd. in New York over $1.6 billion of residential mortgage-backed securities the fund purchased between 2005 and 2007 (via news.businessweek.com): http://bit.ly/oJvSkK


Federal prosecutors say 20 people have been charged in South Florida in a $40 million bank and mortgage fraud scheme (via Businessweek.com): http://buswk.co/oi5F6H


Grandmother nearly loses condo to foreclosure after $4.70 fee balloons to nearly $3,000 (via floridatoday.com): http://bit.ly/mPBf2D


A White Bear Township, Minnesota couple say it’s unfair that they are legally bound to cover a homeowner association’s losses from foreclosures, delinquent dues and other expenses (via StarTribune.com): http://bit.ly/qeodRX


Banks are increasingly pursuing deficiency judgments against former homeowners who lost their homes in foreclosures (via abajournal.com): http://bit.ly/prWOSN



 

Posted in Blog, Real Estate Law