Real Estate News – December 7, 2011

Massachusetts Sues 5 Major Banks Over Foreclosure Practices (via

GMAC Mortgage, the mortgage lender of Ally Financial Inc., is exiting the vast majority of its lending in Massachusetts a day after the state sued it and other lenders over its allegedly improper foreclosure practices, a decision the state’s attorney general called an admission (via

Three top officers of a Stockton, California based real estate company were arrested Thursday.  The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and California Attorney General Kamala announced that Magdalena Salas, 42, Angelina Mireles, 42, and Julissa Garcia, 36, of Stockton are being charged with taking thousands of dollars in up-front loan modification fees in a bogus loan modification scheme which targeted Central Valley homeowners (via

Homeowners Association Forces Family to Remove Disabled Boy’s “Therapy Home” (via

Foreclosed homes, empty lots are next ‘Occupy’ targets (via

A disbarred real estate lawyer who was supposed to go to prison Friday for stealing hundreds of thousands of dollars from wealthy clients got a brief reprieve in the hope he can pay more money back to his victims (via

Future of foreclosures in N.J. hinges on state Supreme Court decision (via

Changes to mortgage rules bring out scammers (via

Boca Raton family could lose home for forgetting to pay HOA assessment (via

Bank of America Corp. reached a $315 million settlement with a group of investors who sued its Merrill Lynch unit claiming they were misled about mortgage- backed securities, according to a court filing (via

Some apartments are turning to DNA testing to make the owners of pooping pets clean up their act (via