Real Estate News – October 30, 2011




Merscorp Inc., the operator of a national mortgage registry used by banks, was sued by Delaware’s attorney general for allegedly using deceptive practices that hide information from borrowers (via Businessweek.com): http://buswk.co/t8MF83


The fight over the addition of a Wal-Mart to El Con Mall has neighbors fired up again. Now the El Encanto Estates Homeowners Association is suing the city.  The Homeowners Association said the city gave Wal-Mart the green light based on some old zoning rules that they said no longer exist (via kvoa.com): http://bit.ly/vtS3vb


A former bank agent who admitted stealing food service items from a foreclosed bed and breakfast has been sentenced to two years of probation and ordered to pay $1,000 in restitution to the bank (via online.wsj.com): http://on.wsj.com/uNONay


Three San Mateo real estate investors and one who does business in the county have pleaded guilty to rigging public foreclosure auctions outside the courthouse in Redwood City by agreeing not to bid against each other, according to the Department of Justice (via smdailyjournal.com): http://bit.ly/vYUdwy


Need a HILARIOUS last-minute Halloween costume this weekend? How about a foreclosed home? Or even funnier, the ex-homeowners and currently-homeless families who have seen their dreams shattered by cruel, insouciant banks and law firms specializing in kicking those people out as fast as possible! A former employee of the largest “foreclosure mill” in New York sent the Times photos of their Halloween party last year, and apparently some of the workers actually did this (via Gothamist.com): http://bit.ly/v2evTs


 


 

Posted in Blog, Real Estate Law