Real Estate News – August 18-20, 2011

Home owner Kim Orsi is taking her battle against two lenders to court, after being denied a loan modification — a possible sign of more such lawsuits to come (via REALTORMag):

Alleged foreclosure-prevention scam shut down by California (via

Is the Fed Preventing a Housing Market Rebound? (via

Justice Department Joins Probe of S&P, Rivals Over Crisis-Era Ratings (via

Protesters invade bank headquarters to demonstrate against foreclosure practices (via

U.S. District Court Judge John J. McConnell Jr. has put more than 60 cases challenging foreclosure proceedings across Rhode Island on hold and ordered the banks and borrowers to engage in “directed and serious” settlement talks (via

The painfully slow rate of job growth can be blamed at least in part on home mortgage modifications that reduce house payments for struggling homeowners, because such policies incentivize people to stay where they are instead of moving to better job markets, according to a new paper by researchers Kyle F. Herkenh and Lee E. Ohanian, both at UCLA (via

After her mother’s duplex was foreclosed following a predatory loan, Leslie Parks signed a mortgage on the south Minneapolis duplex (via

Pasco couple fear losing home to foreclosure for paying mortgage too early (via

It may soon be possible for residents of foreclosed homes to remain in their home — as tenants instead of owners (via

First-Time Property Investors Getting Involved in the Market (via