Earlier this week, federal prosecutors charged 19 suspects in a nationwide mortgage scam that robbed cash-strapped homeowners of their home equity and title, reports the Los Angeles Times. The defendants defrauded homeowners using foreclosure rescue pitches and so-called equity stripping schemes to steal $12.6 million and obtain the titles to more than 100 homes. In [...]
On Saturday, March 29, 2008, Earth Hour invites people around the world to turn off their lights for one hour – from 8:00pm to 9:00pm in their local time zone. On this day, cities around the world, including Boston, Copenhagen, Chicago, Melbourne, Dubai, and Tel Aviv, will hold events to acknowledge their commitment to energy [...]
Sales of new single-family homes were at a seasonally adjusted rate of 590,000 in February, a 1.8-percent slip from a month ago and nearly 30 percent below the February 2007 rate of 840,000, the U.S. Commerce Department reported this morning. The median sale price of a new home was $244,100 in February, up from $225,600 [...]
Unit 10B at The Belvedere, Back Bay is available for purchase. This magnificent 3000+ square feet, 3 bedroom, 3 and a half bathroom , 10th floor condo offers amazing views of symphony and the Christian Science Museum. The Belvedere, located on 100 Belvidere Street in the Back Bay, is a boutique luxury development that offers [...]
Two Louisiana parishes were the nation’s fastest-growing counties in 2007, according to recent population estimates by the U.S. Census Bureau. St. Bernard County, which led the nation in population loss after Hurricane Katrina in 2005, saw its population increase 42.9 percent from July 2006 to July 2007. Orleans county, also hit by Katrina, rose 13.8 [...]
The Boston luxury rental market is heating up and the best properties are going fast. This stunning two bedroom two bathroom penthouse at the new 5 Star luxury Battery Wharf Residences will be offered for lease starting May 1st for $9200 unfurnished. The unit can also be furnished for an additional fee. Enjoy sparkling water [...]
The Fed threw in a change-up today, instead of its usual fastball. While the Fed funds futures market was pricing in a 94 percent probability of a 100 basis point cut today, the FOMC instead settled on a less aggressive 75 basis point cut in the Fed funds rate. Today’s action brings the Fed Funds [...]
Florida leads the nation in reported cases of mortgage fraud for the second consecutive year and Nevada climbed to the number two ranking, according to the Mortgage Asset Research Institute’s Tenth Periodic Mortgage Fraud Case Report to the Mortgage Bankers Association. Other states in the top 10 are Michigan, California, Utah, Georgia, Virginia, Illinois, New [...]
Foreclosure filings nationwide decreased 4 percent in February from the previous month, but they were nearly 60 percent higher than in February 2007, according to the latest report from RealtyTrac, an online marketer of foreclosure properties. One in every 557 U.S. households received a foreclosure filing last month — including default notices, auction sale notices [...]
Some real estate investors are opting to pay the capital gains tax on the sale of investment property now rather than defer the gains in a 1031 exchange amid concerns that a new presidential administration might raise the tax rate, according to the Wall Street Journal. A 1031 exchange, also called a like-kind exchange, lets [...]
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