Real Estate News – September 26, 2011




Short sale and foreclosure transactions can be fraught with potential legal problems for real estate professionals (via REALTORMag): http://bit.ly/poCjE6


The Foreclosure Lawsuits Show Why Everybody Hates Bailouts (via theatlantic.com): http://bit.ly/n3ktbH


Investors are buying foreclosed single-family homes and renting them out — and they often rent them to families who have lost homes to foreclosure (via foxbusiness.com): http://fxn.ws/oXKWaf


More home owners who are unable to sell their home or afford to drop the price any more are opting to rent out their homes until the market improves. But some “accidental landlords” are now having regrets (via REALTORMag): http://bit.ly/r2zY9g


Regulators may charge Standard & Poor’s with securities law violations after the ratings agency gave top grades to a package of securitized mortgages in 2007 that quickly soured (via foxbusiness.com): http://fxn.ws/qGk1g8


United States Attorney Kenneth J. Gonzales announced that, on September 13, 2011, a United States District Judge sentenced Albuquerque real estate agent Kevin Powers, 51, to a 56-month term of imprisonment for his conviction on 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations, and omissions. Powers will be on supervised release for three years after he completes his prison sentence (via loansafe.org): http://bit.ly/pqKJDC


 


 

Posted in Blog, Real Estate Law