Foreclosures are getting faster at JPMorgan Chase and Wells Fargo. The two big banks trimmed their foreclosure timelines by as much as 100 days in the third quarter of 2011, helping to work through major backlogs of foreclosed loans, according to a Moody’s Investors Service report (via REALTORMag): http://bit.ly/zq30Zc

Fighting foreclosures, one home at a time: New group helps Duluth woman keep her home (via duluthnewstribune.com): http://bit.ly/zXb0kh

Federal prosecutors have filed charges against six Charlotte-area defendants over mortgage fraud-related offenses and a “builder kickback” scheme, the latest fallout from the housing market bust (via LoanSafe.org): http://bit.ly/Ami7EN

Many in the real estate industry were concerned that a change announced last year to the maximum seller contributions allowed for Federal Housing Administration-insured loans could cause more deals to fall apart. The FHA announced last year that it would cut seller contributions from 6 percent to 3 percent for purchases using FHA-insured loans. Seller concessions, such as seller assistance to buyers in closing costs, can play a big part in FHA-financed home sales and in closing deals, real estate agents say (via REALTORMag): http://bit.ly/yID9bI

A pair of Nevada Supreme Court rulings requiring mortgage lenders to produce all required foreclosure documents before repossessing a house won't establish a new legal standard because they rely on state high court opinions issued last July, a court official and a lawyer involved in the case said Tuesday (via cbsnews.com): http://bit.ly/xepNYt

President Obama announced in his State of the Union address Tuesday the creation of a new task force that will investigate abusive and risky lending that led to the housing crisis. But the new task force may threaten to derail a settlement deal among the nation’s largest banks and government and state officials over alleged foreclosure abuses (via REALTORMag): http://bit.ly/ySp4H5

The parents of a Pittsburgh boy who has health aversions to sunlight can add a retractable awning to the front of their home in settling a federal lawsuit against their neighborhood homeowner’s association (via WashingtonPost.com): http://wapo.st/xyEtwY

Philip Villasis, age 41, and Ray D. Gata, age 56, both of Chesapeake, Va., were indicted by a Norfolk federal grand jury on nine charges including conspiracy to commit wire fraud, wire fraud, and money laundering (via LoanSafe.org): http://bit.ly/zTsisB

Federal authorities are investigating possible fraud at General Electric Co.'s former subprime mortgage arm amid increased public pressure to hold Wall Street accountable for its role in the financial crisis (via LATimes.com): http://lat.ms/woCRjK

A mortgage broker and the owner of a title closing company have pleaded guilty in federal court in connection with a mortgage fraud scheme involving the Cloud 9 condominium complex in Minnetonka. That complex, formerly an office building, was converted to condos by St. Paul developer Jerry Trooien. Trooien has not been charged in the scheme (via LoanSafe.org): http://bit.ly/xDq0sc

Oakdale backyard ice rink for kids must go, homeowners' association says (via TwinCities.com): http://bit.ly/wx15GK

If you have lost a job and are in danger of falling behind on mortgage payments, here's some potentially important news: The two largest players in mortgages, Fannie Mae and Freddie Mac, are revising their policies on forbearance when unemployment interferes with the ability to stay current on a home loan (via LATimes.com): http://lat.ms/xLtyCS

The nation's five largest mortgage lenders have offered a draft settlement to pay out as much as $25 billion to cover new terms for homeowners driven out by foreclosure, but government officials said Monday the states won't be able to close the deal before President Obama's State of the Union address on Tuesday (via FoxNews.com):
http://fxn.ws/yZCi1y

Nevada Foreclosure Law Slows Bank Repos (via HousingPredictor.com): http://bit.ly/xnfO2G

Can China's Rich Solve America's Real Estate Problem? (via Forbes.com): http://onforb.es/yjBNvt

District judge to weigh in on family's HOA fight (via Austin.YNN.com): http://bit.ly/wcfJDi

A Lincoln, Neb., area housing inspector says he resents being described as a “total idiot” in an e-mail that was reportedly sent to more than 400 real estate agents, and he’s suing a real estate agent and her company for the name-calling (via REALTORMag): http://bit.ly/zOEd3B

A South Florida radio and TV host who shared with listeners how to make it big during South Florida’s real estate boom was sentenced to four years in prison for taking part in a Ponzi scheme that bilked money from his real estate clients (via REALTORMag): http://bit.ly/zD70mT

The government and banks are "very close" to reaching a legal settlement over alleged foreclosure abuses that could help about 1 million underwater borrowers get mortgage relief, U.S. Housing and Urban Development Secretary Shaun Donovan said on Wednesday (via today.msnbc.msn.com): http://on.today.com/z8LknB

A 53-year-old Mount Pleasant, S.C., woman was released this week after spending six days in jail for failing to pay a $480 city fine for having a messy yard (via REALTORMag): http://bit.ly/w2sfJf

Reviews of hundreds of thousands of foreclosure cases ordered by regulators last year will take months longer to complete than first expected, according to documents filed with federal banking regulators (via USAToday.com): http://usat.ly/zjYAvy

Vanilla Ice Stops Foreclosure Collaborates with Lawyers (via TMZ.com): http://bit.ly/AqvlHy

A Bethesda man was sentenced Thursday to 33 months in prison followed by three years of supervised release for two counts of mail fraud connected to a mortgage scheme that defrauded lenders, family members and others, the Maryland U.S. Attorney’s Office reported (via LoanSafe.org): http://bit.ly/zAk3IV

Ohio's foreclosure prevention program has made changes aimed at helping more struggling owners remain in their homes (via TheRepublic.com): http://bit.ly/zCyctD

O.J. Simpson faces foreclosure on Miami house (via USAToday.com): http://usat.ly/Agzztj

Single dad trying to take back home from Occupy Wall Street protesters (via foxnews.com): http://fxn.ws/wmx2Kw

Florida Mortgage Broker Gets Two Years for Wire Fraud (via NationalMortgageProfessional.com): http://bit.ly/zgsIpr

2012 has brought more litigation to a Lake County retirement community that thought it had put its holiday-related troubles behind them (via SunSentinel.com): http://sunsent.nl/wcYanC

Neighbors pitted against neighbors in subdivision fight (via weatherforddemocrat.com): http://bit.ly/xweJN7

Chicago Finds New Purpose for Foreclosed Condos (via REALTORMag): http://bit.ly/w4Luxs

Deed typo haunts couple in foreclosure suit years after they sold (via REALTORMag): http://bit.ly/zdYRdw

Issue of Age Restriction Holds Up Savoy Club Purchase (via burridgepatch.com): http://bit.ly/y5oOCg

Man Nearly Loses Home Over 80 Cents (via REALTORMag): http://bit.ly/yvePeM

A marijuana growing operation discovered when the locks on a house were changed during foreclosure led to charges Friday for a 43-year-old Sheboygan Falls man (via SheboyganPress.com): http://shebpr.es/z3jiuJ

Federal Reserve Governor Sarah Bloom Raskin on Saturday said the Fed must impose monetary penalties on banks who entered into an April agreement with regulators over how to fix problems in their mortgage servicing businesses (via Reuters.com): http://reut.rs/wQRB6y

The foreclosure crisis that has spread across the country is producing another epidemic: mortgage modification scams that have cost desperate borrowers thousands of dollars — even their homes (via TucsonCitizen.com): http://bit.ly/xhOkVd

Despite record low mortgage rates and rising affordability in most U.S. housing markets, rent is the new reality for former home owners and new households alike (via USAToday.com): http://usat.ly/xATHVE

New rules allow more holders of underwater mortgages to refinance (via LATimes.com): http://lat.ms/zzjaVi

Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period (via REALTORMag): http://bit.ly/yaCQgq

The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials (via CNBC.com): http://bit.ly/yKh3B3

In my latest “Social Media Lawyer” column, I discuss how contrary to what many believe, use of social media and other technology sites can actually save you time and money.  You can read the article here.

To read prior editions of “The Social Media Lawyer”, please visit this page of the website.

The theme of my first Legal Minute segments for 2012 is “Federal Laws Affecting Real Estate”:

Click on the links below to listen:

Protecting Tenants at Foreclosure Act (January 7, 2012)

Phase I and Phase II Environmental Site Assessments (January 14, 2012)

The Patriot Act and Real Estate Transactions (January 21, 2012)

Servicemembers Civil Relief Act (January 28, 2012)

For older segments, please visit the Real Estate Radio Hour page of my website.  Also, be sure to tune in to the show live every Saturday from 10 AM - 11 AM, Central Time, on WCCO Radio 830 AM.

Fed Advocates REO Rental Program (via REALTORMag): http://bit.ly/xEJMM4

Several real estate professionals say cash-back incentives that some lenders are using to tempt delinquent borrowers to do a short sale over a foreclosure are not very effective because it’s not clear on who qualifies for the program (via REALTORMag): http://bit.ly/ApxD1h

The Nevada Supreme Court weighed arguments Wednesday on whether U.S. Bank can foreclose on a Douglas County couple's home despite findings by a mediator that not all required documents were presented during mediation (via cbsnews.com): http://bit.ly/Ae7Jqs

Bondi sues foreclosure rescue firms accused of defrauding customers (via miamiherald.typepad.com): http://bit.ly/zNdLkR

Foreclosure Lawyer Could Lose Her Home Because Of Alleged Bank Error (via HuffingtonPost.com): http://huff.to/A7r9il

Farmland values continue to soar in the Midwest, climbing 25 percent higher than a year ago, according to the Federal Reserve of Chicago. Rising prices in corn and other agriculture has sent land prices soaring (via REALTORMag): http://bit.ly/ySqNl0

As the foreclosure crisis continues, experts predict that nonprofit organizations will receive even more donated homes.  Bank of America plans to increase its home donations to more than 1,200 in 2012 from 150 in 2011, and Wells Fargo donated over 1,120 homes last year (via REALTORMag): http://bit.ly/yduM5j

US Foreclosure Inventory Still Looms in 2012 (via Nuwireinvestor.com): http://bit.ly/xSKz5O

Flush with cash from an oil boom and plentiful jobs, North Dakotans are snapping up homes 1,500 miles away in balmy Arizona, where prices have plunged since the real estate bubble burst (via USAToday.com): http://usat.ly/scRJLx

JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans (via Reuters.com): http://reut.rs/xifVSl

Some housing commentators warn that the Federal Housing Administration is depleting its cash reserves due to a spike in delinquencies on older FHA-insured loans, and the agency may soon be calling on taxpayers for help (via REALTORMag): http://bit.ly/xZktRk

Natural disasters from tornados, hail, winds, and floods caused widespread damage throughout the country in 2011, and more home owners may soon see their homeowner's insurance premiums rise because of it (via REALTORMag): http://bit.ly/w7hRXB