Real Estate News – August 13, 2012

A Seal Beach man has agreed to pay a $5-million penalty to resolve allegations that he operated a fraud that targeted homeowners, renters and banks (via

In trying to limit foreclosures, Citigroup is launching a program to rent homes back to home owners who are struggling to make their mortgage payments instead of trying to evict them (via REALTORMag):

Senate panel backs extension of mortgage debt relief law (via

Deloris Bell sold her house in 1995, so she was shocked when in March a bank filed for foreclosure on the house and named her in the lawsuit (via

Association management DIY-style brings big savings (via

RealtyTrac reports that new foreclosure proceedings increased 6 percent last month compared to one year earlier; however, total volume was down 10 percent (via REALTORMag):