- Brooklyn prosecutors announced the arrests of 18 con artists in 15 different real estate fraud cases Monday.The schemes ran the gamut from fraudulent reverse mortgages, to crooked loan modifications and deed theft. Its apparent that real estate crime continues to plague the residents of Brooklyn, said District Attorney Charles Hynes, vowing to go after [...]
- A Victoria woman is suing BAC Home Loan Servicing over the wrongful foreclosure of her home.Plaintiff Patricia Garcia originally filed the lawsuit in state court in February. It was re-filed in federal court on March 18. Garcia claims BAC, whose principal office is in Plano, committed fraud and trespassed on her homestead title when [...]
CHICAGO – Bill Schramm and Bethany Siwicki scoured property listings for three months before agreeing to see a home in Round Lake Beach, even though its online pictures didnt look promising.It looked like a pinata blew up in there, Schramm said. Every room was a different color, and the only way to tell the carpet [...]
- Deborah asks: I dont feel safe paying with my credit card online. What are some alternatives? As the digital age marches forward and online shopping further threatens brick-and-mortar dominance, shoppers are making a deliberate move back to an old standard of the storefront register: Cold, hard cash.Major players in the virtual realm tout alternative [...]
- Winding down Fannie Mae and Freddie Mac, as proposed by President Barack Obama, would hit the multifamily property investment market smack in the source of its stability compared to single-family housing: financing.Oklahoma City-area brokers said apartment investing would regroup from this little considered aspect of housing finance reform, but not without pain. Promoting capital [...]
The estate of Norman Levy, a Manhattan real estate broker who acted as Madoffs surrogate father and was one of his first investors, settled with trustee Irving Picard for $220 million last year, but a lawyer representing several hundred victims has asked a federal bankruptcy judge to cancel that deal. What in Gods name were [...]
The penalties against Bank of America Corp., J.P. Morgan Chase & Co., Wells Fargo & Co. and 11 other home-loan servicers being investigated since last fall over breakdowns in procedures for payment collection, loan modifications and foreclosures could include fines and changes in how the companies operate, these people said. While regulators havent agreed on [...]