Real Estate News – July 2, 2012

States across the country are proposing a range of new rules that would make it more difficult for banks to foreclose on troubled homeowners (via

Whistleblowers win $46.5 million in foreclosure settlement (via

Congress Passes Long-Term Flood Insurance Reauthorization (via REALTORMag):

In a policy switch that could be important to thousands of applicants seeking low down-payment home mortgages, the Federal Housing Administration has rescinded tough new credit restrictions that had been scheduled to take effect today (via

US investor groups oppose “condemn” mortgage fix (via

Reverse Mortgage Spike Has Some Concerned (via REALTORMag):

An escalating fight between homeowners at the Sunchase Condominiums in North Austin and their homeowners association has turned into a move to oust the HOA board members — and a civil lawsuit (via

Some real estate professionals allege that the “synthetically pumped prices” are being caused by “banks stockpiling foreclosed properties and purposely keeping them off the market until area prices truly soar.” (via REALTORMag):

A couple in the San Francisco Bay Area wasn’t happy that a $4.2 million mansion next door was blocking their view of the Golden Gate Bridge and water. So they purchased the mansion — and are having it demolished (via REALTORMag):