Real Estate News – June 8, 2011

Foreclosure can mean more than just a blemish to borrowers’ credit record–it can jeopardize their job too.

Federal contractors and employees are finding a foreclosure can cost them their federal security clearance and ultimately their job. It can take years to restore a security clearance so they can work again too (via REALTORMag):

Foreclosure settlement divides state attorneys general (via

A committee of the Ingham County, Michigan Board of Commissioners unanimously approved a plan to fund an attorney that will be dedicated to helping homeowners battle the growing number of foreclosures based on faulty documents (via

Proposed rules sparked by the financial industry meltdown of 2008 could have the effect of clamping down credit so hard that lower-income buyers and many others would be shut out of the mortgage market, critics say (via

Homeowner Asked To Pay $0.00 In Order To Avoid Foreclosure (via

An NYPD cop who said he joined a violent robbery crew targeting drug dealers to pay his mortgage was slammed yesterday with 20 years in prison by an outraged judge (via