Real Estate News – June 9, 2011

Three of the nation’s biggest banks have failed to live up to new performance guidelines under the Obama administration’s main foreclosure relief program and will be cut off from receiving financial incentives until they improve (via

The foreclosure crisis, already the harshest to hit U.S. homeowners in history is projected to drag on another five years,  and will include more than a total of 15-million mortgage holders, according to a new Housing Predictor forecast (via

A report from Fannie Mae found 27% of homeowners would consider walking away. The previous year only 15% would think of defaulting on a mortgage they could still afford (via

Some home owners are getting a surprise when a person shows up on their doorstep, with a lease agreement in hand, saying that he or she is renting out their home, which isn’t for rent but for sale (via REALTORMag):

Jury may decide fight over metal yard sculpture (via

A South Florida real estate talk show host is facing federal charges for allegedly using his talk show and real estate seminars to recruit investors for a Ponzi scheme, according to federal prosecutors in West Palm Beach (via REALTORMag):