Real Estate News – October 8, 2011
The federal government will disburse just $432 million from a $1 billion program to help unemployed homeowners avoid foreclosure, a government official said Thursday (via USAToday.com):
A real-estate fund run by Goldman Sachs Group Inc. has walked away from a $1.26 billion deal with Lehman Brothers Holdings Inc. to buy a portfolio of 10 office buildings in a suburb of Washington, according to a lawsuit filed Thursday (via online.wsj.com): http://on.wsj.com/nb7MYs
A San Francisco real estate developer accused of defrauding investors of $25 million in a Ponzi scheme has pleaded guilty to wire fraud (via mercurynews.com): http://bit.ly/qIE56G
The government could unveil a plan in a few weeks to help up to one million struggling borrowers refinance their mortgages at lower rates (via Reuters.com): http://reut.rs/o6tute
Bank of America is offering up to $20,000 to select Florida homeowners willing to agree to a short sale instead of entering foreclosure (via tampabay.com): http://bit.ly/pfX1bE