Sheila Bair’s Mortgage Miracle What do you do if you’ve spent your career encouraging mortgage loans to people who can’t repay them? Barney Frank’s answer is to grill federal officials on why they aren’t preventing foreclosures. Infuriated at the difficulty of modifying mortgages, the Beltway crowd doesn’t understand that such contracts weren’t designed to let …
Category Archives: Legal
New Florida condo law is about to take effect
New Florida condo law is about to take effect In a situation that might qualify as a “be careful what you wish for” tale, several new Florida laws related to condominium insurance policies are slated to go into effect Jan. 1. The problem is they are essentially unworkable as currently written — leaving many condo …
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Promises of help with mortgages, but foreclosure is still most likely outcome
Promises of help with mortgages, but foreclosure is still most likely outcome Federal and state officials, eager to stabilize the housing market, have leaned hard on mortgage companies to honor their pledges to help more homeowners avoid foreclosure. But in California at least, the mounting pressure has so far produced only modest results, according to …
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Real-estate investment firm fights to stay afloat [Pheonix Arizona]
Real-estate investment firm fights to stay afloat [Pheonix Arizona] Last week, Phoenix-based real-estate investment firm Right Place Properties spent investors’ money to purchase multifamily housing units, promising a healthy return on their cash. Then on Monday, the company and its designated broker, Red Door Commercial, shut down their Web sites, disconnected the phones, laid off …
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Short Sale vs. Foreclosure
Short Sale vs. Foreclosure I am in default on 12 jointly-owned properties that I am trying to liquidate as part of a divorce. All of my properties are currently worth less than the mortgage balances, due to the tough real estate market. I am aware that I will likely be taxed for the amount of …
Scheme gives distressed properties to squatters
Scheme gives distressed properties to squatters Law enforcement investigators in San Diego and Riverside counties have uncovered a brazen real estate scheme in which individuals are claiming ownership of distressed homes by filing official-looking grant deeds with county recorder offices. The perpetrators then move people into the vacant homes, in some cases, by hiring a …
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