Real Estate News – November 15, 2011

Foreclosed borrowers abused by their lenders won’t get their homes back, but they could get a little cash from a settlement under negotiation between state officials, the Obama administration, and the nation’s biggest banks (via HuffingtonPost.com): huff.to/vKTMT4

Americans are still losing their homes to foreclosure, and the pace increased last month, according to a report by the foreclosure marketing firm RealtyTrac (via ConsumerAffairs.com): bit.ly/vMg6da

A Pittsburg man suffering from financial problems posted a suicide note on Facebook, then shot and killed his wife and her parents early Thursday in his foreclosed home before turning the gun on himself, police said (via sfgate.com): bit.ly/uuc4IR

The National Association of Home Builders is speaking out against the use of foreclosures, short sales, and other distressed properties used as comparables to new-home in appraisals (via REALTORMag): bit.ly/tfZbNS

In foreclosure-plagued Vegas, empty homes go to pot (via latimes.com): lat.ms/uFb873

Bank forecloses even though experts say homeowner made all payments (via startribune.com): bit.ly/uwyoFe

Rich Neighborhoods Riddled With Foreclosures (via Forbes.com): onforb.es/uQDZ1y

Homeowners at Samantha Executive Homes in Matina Pangi, Davao City, formally filed a complaint before the Housing and Land Use Regulatory Board (HLUR

in Davao Region against the subdivision developer for failure to comply with approved subdivision plans (via sunstar.com): bit.ly/rIqVWJ

Freddie Mac has sold a record number of single-family REO homes in the first nine months of 2011, and the homes are selling for an average of 94 percent of market value, Tracey Mooney, Freddie Mac’s vice president of single-family servicing and real estate owned properties, said in a blog post (via REALTORMag): bit.ly/tNbZaE

More sellers who are tired of their home lingering on the market or don’t want to have to take a loss on their home are opting to become landlords instead (via REALTORMag): bit.ly/rSHgim