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Jury Convicts Executive in $3B Mortgage Fraud Case

ALEXANDRIA, Va. -- A jury on Tuesday convicted the majority owner of what had been one of the nation's largest mortgage companies on all 14 counts in a $3 billion fraud trial that officials have said is one of the most significant prosecutions to arise from the nation's financial crisis. Prosecutors said Lee Farkas led a...

New Advertising Company Will Turn Your House Into a Billboard

If it's difficult to pay the bills on your house, try turning your house into a billboard. An advertising start-up in Orange, Calif., is offering to help 100 Americans pay their mortgages -- if the homeowners convert their houses into massive painted ads for the business. "It's a really good marriage for us to be able to...

Workers Brace for Effect of Government Shutdown

LITTLE ROCK, Ark. - A weather forecaster says he may have to live off the money he's been setting aside for a Caribbean vacation. A worker in Washington hopes to polish his resume so he can retire from public service and work in the private sector. An accountant wonders if she can put off her mortgage for a month. Federal...

House Hunting? Shack Up in Kate Middleton's Childhood Home, the 'Jersey Shore' House and Other Famous Abodes

Kate Middleton will take over Buckingham Palace for her royal wedding reception to Prince William on April 29, but fans of the princess bride could take over the home where she grew up. Middleton's childhood home in the village of Bradfield Southend, southeast England, is up for sale. The price tag? Nearly 500,000 pounds,...

House Votes to End Mortgage Reduction Program

WASHINGTON -- House Republicans pushed through legislation Tuesday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure. Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen...

real estate News From AOL

THE HUFFINGTON POST - BUSINESS

Peter S. Goodman: Bleeding Cash Conservatives: Moral Principle Trumps Rational Pragmatism

Not so long ago, the term "bleeding heart liberal" had currency in American politics as a way to accuse someone of costly naÃ¯vetÃ©.

RENTEDSPACES.COM

Where Trailer Homes Rent for $2,000 a Month

In the oil boomtowns of southern Kansas, enterprising residents are turning into real estate moguls, renting out everything from double-wide trailers to rooms in an old bank for as much as $2,000 a month.

THE HUFFINGTON POST - BUSINESS

JPMorgan Returns Large Portion Of Lost MF Global Funds

JPMorgan Chase has returned about $600 million that was held at the bank when securities firm MF Global Holdings Ltd. failed last fall, according to a news report.

THE HUFFINGTON POST - BUSINESS

Alan Grayson: Yesterday: The Lowest Interest Rates in History

Yesterday, the 10-year Treasury note hit its lowest interest rate in history.

AOL LATINO NOTICIAS

SunTrust Subsidiary Settles Suit Accusing it of Discriminatory Lending

A subsidiary of one of the country's largest banks agreed to settle a lawsuit accusing it of discriminatory lending practices.

real estate News From the Web

06/04/12 Expect banks to hoard rate cuts Source: news.com.au Households are paying 3.3 percentage points above the official cash rate for home loans, higher than during the global financial crisis, and some economists believe it will widen further if there is another official rate cut tomorrow.
06/04/12 New rules to speed up short sales Source: Herald Tribune - Sarasota FL
With rules that take effect this month, federal regulators are hoping to greatly streamline the short-sale process for residences.
Starting June 15, the Federal Housing Finance Agency, which regulates both Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers final decisions within 60 days.
In a short sale, lenders agree to accept sale prices at less than the balance on a mortgage to promote transactions.
06/04/12 The FDIC Continues to Promote the Fantasy That It Can... Source: Naked Capitalism Due to being a bit under the gun before taking off on holiday (I hope you all enjoyed the posts from Matt Stoller, Lambert, and the other guest writers), we didn't address a May 10 speech by the acting FDIC chairman, Martin Gruenberg , on the FDIC's current thinking on how to resolve so called systemically important financial institutions, or SIFIs.
06/04/12 On the Market: Two homes at $489,000 Source: The Montclair Times - Montclair NJ Four-bedroom, 2 1/2-plus bath remodeled colonial with park view at 107 Elmwood Ave. has fireplace, formal dining room, living room, den, eat-in kitchen, laundry room, deck, patio, full basement and newer roof.
06/04/12 $350K grant, new leader to help Warren clean up blight Source: The Vindicator - Youngstown OH The Trumbull Neighborhood Partnership board of directors has begun a grant program designed to stabilize and grow Warren's residential neighborhoods with the hiring of Marissa Williams as community planning coordinator.

Background on real estate

Real estate is "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general.

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