By Mike Colpitts Eight real estate investors have pleaded guilty for their roles in a criminal conspiracy at real estate foreclosure auctions. The charges against the investors carry up to 30 years in U.S. federal prison and $1-million in fines. The investors agreed to enter the guilty pleas after a federal investigation led to their… Continue reading Real Estate Investors Plead Guilty in Conspiracy
Category: California
California housing market
Foreclosures Rise in October, But Nevada’s Chill
By Mike Colpitts Foreclosure auctions, the final step in the formal bank repossession process increased in October, rising 8% from the prior month as foreclosures in states that require courts to formally approve foreclosures moved higher recovering from bank moratoriums. But Nevada saw a major drop in foreclosures as a result of a new law… Continue reading Foreclosures Rise in October, But Nevada’s Chill
US Offers Foreign Residency for Real Estate
By Jeanne Roberts It’s an interesting offer – As a foreigner, buy a home in the United States for $500,000 or more and get a visa that lets you also live in the country. Buyers could also qualify for the visa by purchasing a $250,000 home and spending an equivalent amount on residential real estate… Continue reading US Offers Foreign Residency for Real Estate
Title Officers Charged in Robo-Signing Felonies
By Mike Colpitts Two title officers associated with Lender Processing Services have been indicted by a Nevada county grand jury on charges related to illegal robo-signings, according to the Office of the Nevada Attorney General. The two LPS employees, Gary Trafford and Gerri Sheppard, were indicted on 606 counts. The charges relate to allegations of… Continue reading Title Officers Charged in Robo-Signing Felonies
Energy Proposal Could Save Homeowners Money
By Jeanne Roberts In the modern world, mortgage appraisers calculate the value of residential real estate based on its age, location, square footage, general appearance, amenities, and tax burden. Many also include an amorphous “fudge value” to take into consideration intangibles like a superb school district, or the hazard-limiting value of being at the end… Continue reading Energy Proposal Could Save Homeowners Money
REITs Benefit Biggest From Low Interest Rates
By Mike Colpitts Real Estate Investment Trusts (REITs) are benefitting from the Federal Reserve’s low interest rate policy more than any other single sector of the U.S. economy, and their profit windfalls are being returned to investors. Once thought to have seen their day, REITs are still benefitting from the Fed’s low interest rates stand,… Continue reading REITs Benefit Biggest From Low Interest Rates
California Expands Hardest Hit Homeowner Aid
By Kevin Chiu As one of the Hardest Hit states in the U.S. in the housing crash, California is expanding its $2 billion program to help homeowners avoid foreclosure. But this increase will be dedicated to helping only second home or vacation homeowners. The proceeds, originally established by the California Housing Finance Agency from proceeds… Continue reading California Expands Hardest Hit Homeowner Aid
Delegation Calls for Mortgage Servicer Reforms
By Kevin Chiu A delegation of Congressional members are calling on U.S. bank regulators to publicly release information regarding steps that are being taken by mortgage servicers to prevent illegal foreclosures. The move was launched after House Rep. Maxine Waters (D-Calif.) sent a letter signed by 15 members of the House to regulators making the… Continue reading Delegation Calls for Mortgage Servicer Reforms
Short Sale Transparency Law Proposed
By Mike Colpitts A law that would force bankers to provide the minimum price they would take for a home in a short sale has been introduced in Congress in an effort to aid the housing market. The bill, authored by House member Susan Davis (D-San Diego) was introduced to give homeowners at risk of… Continue reading Short Sale Transparency Law Proposed
Foreclosures Forecast to Hit 15 Million Homeowners
By Kevin Chiu The foreclosure crisis has produced an overpowering series of affects across the U.S., destroying businesses, taking away livelihoods, tossing millions of homeowners out of their homes and pressuring home prices in the over-whelming majority of neighborhoods lower. The crisis, first forecast by Housing Predictor almost five years ago as the first real… Continue reading Foreclosures Forecast to Hit 15 Million Homeowners