So we all know that banks have admitted to robo-signing, a process whereby employees sign foreclosure cases without verifying the veracity of the documents. We also know that banks have tried controlling the negative effects by freezing foreclosure sales in most states (and even all for a number of banks). But what we don’t know is that the issue at Read full article »
Archives for Finance
Mortgage Program Overhaul For TD Bank
The Canadian housing market may be cooling down and property values are rising but this does not mean that people are lining up the banks to get a mortgage on their homes. In fact, because of the stiff competition to get new business, banks are coming up with different strategies and gimmicks to lure in customers. TD Bank, for one, Read full article »
tags: home loans, mortgage
There Might Be No Foreclosure Moratorium, According To White House Senior Advisor
A lot of things are pointing to blanket stoppage of all home foreclosures: one is the recent move by Bank of America to freeze foreclosures in all 50 states and the other is the upcoming November 2 midterm elections where people will surely think about the reeling economy when they vote. However pressing these two events may be, a top Read full article »
Foreclosure Sales Halted In All 50 States By Bank Of America
The heat is on: after pressure from the Senate and more homeowners, the country’s largest bank gives in. Last Friday, Senate Majority Leader Harry Reid, D-Nevada pleaded to major mortgage servicers and banks to extend the recent foreclosure freezing to all fifty states. According to him, if homeowners in 23 states get a chance at delaying foreclosures, so do those from Read full article »
tags: Bank of America, halt foreclosure
Virtus Real Estate Applies Unique Investment Strategy As It Poses For Growth
The commercial real estate, more than the residential, is slowly starting to pick up the pieces it shed when the economic crisis struck. And some companies are trying to ride the current commercial real estate rise. That’s exactly what Virtus Real Estate is doing by leveraging a unique investing approach. Leading real estate private equity firm, Virtus Real Estate is currently Read full article »
California Pension Withdraws $1 Billion Apartment Portfolio From BlackRock
Today’s real estate market is still trying to recover – values and sales are still down and homeowners are always in danger of foreclosures. This may be why some companies and pension funds are looking at cutting back on losses without sacrificing efficiency and performance. That’s what the largest public pension fund in the United States is aiming Read full article »
Results Of Tender Notes For 5.95% Senior Notes, Announced By Washington Real Estate Investment Trust
Washington Real Estate Investment Trust, which has its shares publicly traded on the New York Stock Exchange, has recently announced the final results of cash tender offer to purchase 5.95% Senior Notes due June 15, 2011. The Notes amount to $150,000,000. The tender offer expired on October 1st of 2010, at 5:00 pm New York City time. At that time, a Read full article »
tags: mortgage
Racketeering Case Filed Against Ally And Citigroup
A popular bank and a mortgage servicer are being sued by homeowners in Kentucky for conspiring with a mortgage transfers company for falsely foreclosing on loans. It is a serious allegation and when proven true, then a lot of homeowners who are currently facing foreclosures just might get a chance to save their homes. Homeowners in Kentucky have filed a lawsuit Read full article »
Will The Commercial Real Estate Debt Cause Another Market Crisis?
If the residential real estate market is having problems, so is the commercial real estate market – perhaps even more so. Commercial real estate properties – like apartments, shopping malls, hotels, and office buildings – were at a peak until 2007 but devalued 36% in the last two years. The real estate market has incurred debts in the past years Read full article »
tags: commercial foreclosure
GCI: Asia Will Play A Big Role In Global Growth
The good thing about being in the bottom is that there is no other way but up. The chief investment officer of the world’s sixth largest state investment company says there’s a major shift in economic influence and the emerging influence is Asia. In a private wealth management conference in Singapore this week, Government of Singapore Investment Corp’s Investment Officer Ng Read full article »
tags: Asia, private equity
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