Real Estate News – July 7-8, 2011

A Fort Worth, Texas, real estate professional pleaded guilty to forging paycheck stubs and rental and employment histories so that her buyers could qualify for HUD loans that they otherwise would not have been eligible for (via REALTORMag):

JPMorgan Chase & Co., Bank of America Corp., and three other US mortgage servicers are in advanced talks to resolve state and federal claims over faulty foreclosures, according to two people briefed on the matter (via

Maryland mediation program to avoid foreclosures less successful than anticipated (via

Home owners who have lost their jobs will get more mortgage relief. The Obama administration has announced that two programs for unemployed home owners will extend the forbearance period on mortgages to 12 months (via REALTORMag):

The housing market remains fragile with a mixed picture of recovery, says the June National Housing Scorecard, released by the Department of Housing and Urban Development and the Department of the Treasury (via reversemortgagedaily):

Republican members of Congress on Thursday lashed out at state attorneys general investigating big-bank mortgage servicers, arguing they’re trying to achieve in a sweeping settlement what Democrats were unable to accomplish in Congress (via

Neighbor vs. Neighbor as Homeowner Fights Get Ugly (via

Foreclosures costing neighbors as homeowner associations pay to maintain abandoned houses (via

Principal reductions on mortgages “would negatively impact the housing market, reduce home loans, and potentially put home ownership out of reach for millions of Americans,” Alabama Attorney General Luther Strange wrote in submitted testimony, along with Mortgage Bankers Association President David Stevens, to the House Committee on Financial Services (via REALTORMag):

Troy-based foreclosure firm implicated in massive ‘robo-signing’ case (via

Investors who sued over $351 billion in downgraded Countrywide Financial Corp. mortgage-backed securities after the 2007 subprime market collapse may have to settle for less than 1 percent of what they initially sought (via

Homeowner in hot water; HOA demands irrigation (via