Real Estate News – April 25, 2011

The FBI is investigating whether a Seal Beach real estate saleswoman bilked dozens of investors out of thousands of dollars each while using a software program to make intimidating calls to keep them quiet (via

A federal grand jury has returned indictments in two unrelated real estate Ponzi schemes, resulting in the arrest of two Sacramento-area men (via

JPMorgan Chase said Friday it will pay $27 million to settle a class-action lawsuit that accused the bank of overcharging members of the military for their mortgages and prompted a federal investigation, a congressional hearing as well as public outrage (via

Bank of America Corp. was dismissed from a lawsuit brought by investors who bought mortgage-backed securities sold by Countrywide Financial Corp., the home lender Bank of America acquired in 2008 (via

Many defendants accused of nonviolent crimes often use their home as collateral to post bail. However, nowadays using your home as a “get out of jail” card may be more difficult (via REALTORMag):

Analysts at both Standard & Poor’s and Barclays Capital agree that the uptick in home resales last month is a favorable sign of things to come. Because pending home sales — an indicator of future activity — were up in February, S&P believes transaction volume will rise for April (via REALTORMag):

The Massachusetts Supreme Judicial Court today released a ruling requiring the “substantive participation” of attorneys in real estate transactions in a long-awaited decision celebrated by local lawyers (via