Real Estate Department warns of rise in short sale fraud BY COURTENAY EDELHART, Californian staff writer cedelhart@bakersfield.com | Monday, Sep 13 2010 05:48 PM Last Updated Monday, Sep 13 2010 05:48 PM The California Department of Real Estate says it has noticed an alarming escalation of short sale fraud and will step up education and [...]
SPECIAL AGENT DARIN LEE MCALLISTER INDICTED FOR FRAUD CHATTANOOGA, Tenn – Darin Lee McAllister, a Special Agent employed by the Federal Bureau of Investigation in Nashville, Tennessee, was indicted yesterday by a grand jury sitting in Nashville, Tennessee. This indictment was announced by United States AttorneyJames R. Dedrick, United States Attorney for the Eastern District [...]
CALIFORNIA ASSOCIATION OF REALTORS® Issues Alert to Warn Consumers About Liability Associated With Refinanced Mortgages Loophole in State Law Allows Banks to Sue Foreclosed Borrowers for the Difference Between the Mortgage and the Property Value LOS ANGELES, CA–(Marketwire – May 18, 2010) – Facing the possibility of foreclosure, California homeowners may be hit with more [...]
Four Arrested, Five Wanted for Fleecing Hundreds of Homeowners Seeking Foreclosure Relief **NOTE: Contact information for victims willing to speak with the press is available upon request** LOS ANGELES – Attorney General Edmund G. Brown Jr. today announced that nine men engaged in a Southern California boiler room, tricked out in high-roller style with a [...]
U.S. housing starts touched a 1-1/2 year high in April, but a drop in permits to a six-month low suggested housing market recovery will remain slow. Housing starts rose 5.8% to a seasonally adjusted annual rate of 672,000 units, the Commerce Department said on Tuesday, likely supported by the looming expiry of a home buyer [...]
Loan-modification hassles frustrate Oregon homeowners Homeowners in distress are losing time, money and peace of mind as they get trapped in a bureaucratic nightmare Requests to modify home loans and reduce mortgage payments, relatively uncommon a few years ago, have surged as borrowers struggle to avoid foreclosure. Many people requesting changes in their home loans [...]
Foreclosure Expert: The Worst is Yet to Come – Foreclosure filings reach nearly 3 million in 2009, record high The freshly painted burgundy shutters on a blue house on Shelby’s Arnold Drive fit in with the rest of the surrounding neighborhood. But there’s one difference between this house and others around it — this home [...]
HUD awards San Jose $25M in foreclosure aid funds The Department of Housing and Urban Development awarded $25 million to the San Jose NSP2 Consortium to help residents who have been hit by foreclosure. The consortium includes the Housing Trust of Santa Clara County, Neighborhood Housing Services Silicon Valley and the City of San Jose [...]
Home foreclosures spark new market for apartment dwellers A toddler played with toys in a playpen a family set up on the balcony of their new, luxury town home in Desert Hot Springs on Friday Nearby, a green flag flapping in the breeze called attention to the “Free 1 Month” rent sign. The Willow Crest [...]
Courts Intervene to Help Homeowners The courts are becoming the last refuge for homeowners who are in foreclosure but still hope to remain in their homes under a loan modification. Actions taken by courts or by the state government in Pennsylvania, Florida, New Jersey and Connecticut are requiring mediation between mortgage servicers and delinquent borrowers [...]