Real Estate News – October 3, 2011

Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday (via

California Attorney General Kamala D. Harris pulled out of settlement negotiations with the nation’s biggest banks over alleged foreclosure abuses, calling the proposed deal “inadequate for California homeowners” (via

Raffling homes is a growing trend among nonprofits. But if they’re offered in Minnesota, buyer beware (via

Deputies investigate explosion of HOA president’s mailbox (via

Bank of America Corp.’s Countrywide unit was sued by Sealink Funding Ltd. in New York over $1.6 billion of residential mortgage-backed securities the fund purchased between 2005 and 2007 (via

Federal prosecutors say 20 people have been charged in South Florida in a $40 million bank and mortgage fraud scheme (via

Grandmother nearly loses condo to foreclosure after $4.70 fee balloons to nearly $3,000 (via

A White Bear Township, Minnesota couple say it’s unfair that they are legally bound to cover a homeowner association’s losses from foreclosures, delinquent dues and other expenses (via

Banks are increasingly pursuing deficiency judgments against former homeowners who lost their homes in foreclosures (via