May 2011

Greek Debt and Alleged Mortgage Fraud Keep Deutsche Bank in a Downtrend

(Source: Seeking Alpha) – It has been a while since I last looked at Deutsche Bank (DB). At that time, I was focused on a pairs trade strategy versus Goldman Sachs (GS). So when I noted last week that GS [...]


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Is the Mortgage Market Returning to the 1980s?

(Source: CityWire Money by Lorna Bourke) – Thirty years ago you had to save for three years with a building society before you qualified to apply for a mortgage. Now it seems those times could be returning.


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Vacation-Home Market Faces Long Road to Recovery

(Source: USAToday By Rob Reuteman) – The buyers’ market for vacation homes is likely to continue for years, with activity largely limited to buyers with enough cash to circumvent a tighter, post-recession lending environment.


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Weighing the Pros, Cons of Paying Off Mortgage

(Source: orlandosentinel) – Q: As I get closer to retirement, should I pay off my mortgage so I can live debt free during my golden years?


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Peggy Tanous and Alexis Bellino Feud and Foreclosure Debate Heats Up

LOS ANGELES (Source: LALATE News Alexis Bellino, Peggy Tanous) – The Peggy Tanous and Alexis Bellino feud heats up tonight on OC Housewives. But this week, Peggy Tanous and Alexis Bellino battled not just each other but foreclosure reports. In [...]


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Housing Crash is Getting Worse

(source: MarketWatch) – New data just out from Zillow, the real-estate information company, show house prices are falling at their fastest rate since the Lehman collapse.


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UK’s Biggest Mortgage Lender Says House Prices Fell 1.4 Pct in April to Lowest Dince July 2009

LONDON (Source: Washington Post, By the Associated Press) — Britain’s biggest mortgage lender says average house prices fell 1.4 percent in April to hit their lowest level since July 2009.


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Bankrupt Homeowners Shed Second Mortgages

May 9 (Source: San Jose Mercury News By Pete Carey) – Stung by the crash of the housing market, some struggling homeowners are using a little known but increasingly popular provision of the bankruptcy code to eliminate second mortgages and [...]


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Owensboro Home is 1 Millionth Built Under Federal Program

May 8 (Source: Messenger-Inquirer) – The U.S. Department of Housing and Urban Development has announced that the one-millionth home built with help from the agency’s HOME affordable housing program was built in Owensboro.


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Santa Cruz Real Estate Experts Offer Forecast for Rest of 2011

May 7–SANTA CRUZ (Source: Santa Cruz Sentinel By Jondi Gumz) – Four local experts see 2011 as a year of challenges for local real estate.


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Reverse Mortgages Teleconference May 12

May 7–OREGON (Source: The Daily Gazette) – University of Illinois Extension is sponsoring a teleconference on reverse mortgages at 10 a.m. May 12 at the Ogle County Farm Bureau, 421 Pines Road.


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Housing’s Good News is Government Cash Shortage

(Source: Tulsa World by Caroline Baum) – With U.S. home prices back down to their 2009 lows, you might be wondering what all the government programs to stabilize the housing market have accomplished.


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Tax Reassessments Bring Relief to Some Homeowners

May 8 (Source: The Record – Hackensack, New Jersey By Dave Sheingold) – There’s a silver lining to the real estate slide, and it’s about to bestow a tax break on homeowners in 14 North Jersey communities — and perhaps [...]


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Foreclosures Reforged

May 8 (Source: The Honolulu Star-Advertiser By Andrew Gomes) – Sweeping new measures to help financially struggling Hawaii homeowners avoid foreclosure became law last week.


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Parents Buy Homes for College Students

May 9 (Source: The Fresno Bee By BoNhia Lee) – Depressed home prices in Fresno have created a growing real-estate market for parents of college-aged children.


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Disgraced Parmalat Founder Taken to Jail to Begin Sentence

May 5–MILAN (Source: Adnkronos International) – Parmalat’s founder and former chief executive Calisto Tanzi was taken to prison on Thursday in the northern city of Parma to begin an eight-year prison sentence over the Italian dairy giant’s 2003 collapse.


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Allerton Hotel Owner Files for Bankruptcy

May 6 (Source: Chicago Tribune By Becky Yerak) – The new owner of Chicago’s Allerton Hotel on Michigan Avenue has filed for bankruptcy, but said the boutique property will continue normal operations while it reorganizes.


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Mastro Declared Competent to Testify in Bankruptcy Trial

May 7 (Source: The Seattle Times By Eric Pryne) – Michael R. Mastro is competent again.


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SEC Subpoenas JPMorgan, Credit Suisse Over Mortgage Practices

(Source: the Real Deal Online) – JPMorgan Chase has been subpoenaed by the U.S. Securities and Exchange Commission over mortgages issued before the real estate collapse that have since soured, Bloomberg News reported. The move comes amid an SEC probe [...]


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The Long Road to a Mortgage Modification

WASHINGTON (Source: MarketWatch) — I’ve asked my lender to modify the loan on my home because of a reduction in my wages. I owe more than the house is worth, so selling isn’t an option.


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Mortgage Foreclosure Mediation Now Law

HONOLULU (Source: HawaiinewsNow By Ben Gutierrez) – A landmark bill aimed at reducing mortgage foreclosures is now perhaps the strongest law of its kind in the country.


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Modified Mortgages Show More Promise

(Source: The Wall Street Journal By Nick Timiraos) – Freddie Mac on Wednesday reported net income of $676 million for the first quarter, which was its best quarter since it was taken over by the government in 2008.


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Bank of America Adding 28 New Mortgage Help Centers

(Source: charlotteobserver By Kirsten Valle Pittman) – Bank of America Corp. will more than triple its number of assistance centers for homeowners facing foreclosure, bringing the total to 40 in 22 states, it announced Thursday.


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Judge Halts Foreclosures in SC

(Source: WCBD) – For more than 2 years Matt Hertel has been fighting to hang on to a house he turned into his dream home over the last 16 years.


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JPMorgan Is in ‘Advanced’ Negotiations to Resolve CDO Probe

(Source: Bloomberg By David Scheer) – JPMorgan Chase & Co. (JPM), the second- largest U.S. bank, is in “advanced” negotiations with the U.S. Securities and Exchange Commission to resolve an investigation into collateralized debt obligations.


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Slumlord Millionaire

(Source: Mother Jones By Kevin Drum) – A couple of days ago the Los Angeles city attorney’s office sued Deutsche Bank. Why? Because it’s a slumlord:


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One Man’s Crusade to Save His Home From Foreclosure

PITTSBURG, Calif. (Source: ABC) – A Pittsburg family is in a home they can truly call their own. The cloud of foreclosure hanging over their home has moved on after two painful years. 7 On Your Side has been with [...]


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GAO Finds Dozens of Illegal Home Foreclosures

WASHINGTON (Source: Star Tribune Article by: JIM SPENCER) – The Government Accountability Office (GAO) has identified dozens of cases where mortgage companies appear to have illegally foreclosed on the homes of active duty military service members.


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Fannie Mae Loses Bid to Dismiss Ex-Contractor’s Lawsuit

(Source: Bloomberg By Tom Schoenberg) – Fannie Mae lost its bid to dismiss a lawsuit filed by a former contractor who alleges she was fired and blocked from a Treasury Department job after complaining about the company’s work on a [...]


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Closings Canceled on Some Bank-Owned Homes After Court Rules Against MERS

(Source: Detroit Free Press By Greta Guest) – Local Realtors say title companies are canceling closings on some bank-owned homes after a recent Michigan Court of Appeals decision made it more risky to insure them.


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