Real Estate News – October 23, 2011

Atlanta may offer foreclosed homes to first responders (via

County Wins Key Elements of Tax Foreclosure Case (via

A new law proposed by Senators Chuck Schumer (D) from New York and Mike Lee (R) from Utah would award a three-year residential visa to foreigners who spend at least half a million dollars on residential real estate (via

Bank of America Corp. was given a subpoena by California’s attorney general for information related to the packaging and sale of mortgage-backed securities, a person familiar with the matter said (via

A former property manager has become the seventh person to take a plea deal in a federal investigation of Las Vegas-area homeowner associations steering business to favored attorneys and businesses (via

PMI Group Inc., the mortgage insurer that was ordered in August to stop writing policies, said a unit that sells such coverage was seized by Arizona authorities and will pay out claims at 50 percent starting tomorrow (via

A 46-year-old Green Bay man has been charged with setting fire to his home that was in foreclosure (via

Until recently, subprime mortgages were pointed out as the central culprit in the majority of Minnesota mortgage delinquencies. A subprime mortgage is often characterized by high interest rates, unfavorable terms and, in many cases, awarded to an individual who will likely have difficulty with repayment (via