Banks, Real Estate Commissions, & The Rico Act
Q: Does routine forced reduction of Realtor short sale commissions by Banksamount to a form of extortion that falls under the RICO ACT?
Suppose we have a small group of powerful bosses whose names, bycoincidence, all end in a vowel (Fargo, Chase, B of A, etc).They target a small class of defenseless business people (Realtors) in [...]
Traps for the Unwary in Distressed Debt
Distressed debt, including real estate mortgages, are now attractive to many smart investors.
For example, John Paulson, who runs the $36 billion hedge fund firm Paulson & Co, is looking to buy distressed mortgages and distressed debt, despite being bearish on the overall economy, Bloomberg reported. Paulson wrote in a 2009 outlook to investors that he [...]
Information About Bank Foreclosure and the Helpful Foreclosure Listings
A bank foreclosure is a home or a property owned by banks or lenders as a result of foreclosure and put into public auction. Foreclosure is a pocedure that has to take place when a homeowner doesn’t manage to pay the mortgage loan. When a public notice is filed for eviction, the process is called [...]
Three Ways to Find a Preforeclosure That Has Become An Reo
When a homeowner misses several mortgage payments and the bank begins to foreclose, the house is known as a preforeclosure. A preforeclosure is a house that is in foreclosure that you can buy up until the day of the foreclosure auction. If there are no bidders at the foreclosure auction, the bank [...]
