60http://blog.jeffreyobrienesq.comMon, 28 May 2012 16:50:57 GMTMon, 28 May 2012 16:50:57 GMTenjobrien@mansfieldtanick.comnohttp://blog.jeffreyobrienesq.com/2012/05/28/real-estate-news--may-28-2012.aspx?ref=rssJeffrey O'BrienIt's a mortgage problem that is likely to intensify as home-owning baby boomers by the millions shift into retirement: Although they may have significant financial assets tucked away in retirement accounts, their diminished monthly incomes may not be sufficient to meet some lenders' hyper-strict underwriting rules (via latimes.com): http://lat.ms/KFewWp MetLife, the biggest life insurer in United Sates, made an announcement that it will fold down its operation in mortgage business (via retirementplanning.org): http://bit.ly/MNkDYw JPMorgan Chase & Co.’s (JPM) EMC Mortgage unit was sued for breach of contract by a trust that financed the purchase ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/28/real-estate-news--may-28-2012.aspx#Comments5a7984ef-0942-4837-a0a5-4567748f679bMon, 28 May 2012 16:00:00 GMThttp://blog.jeffreyobrienesq.com/2012/05/23/real-estate-news--may-23-2012.aspx?ref=rssJeffrey O'BrienBank of America Corp., the second- biggest U.S. lender, will repurchase $330 million of home loans from Freddie Mac, the mortgage company supported by taxpayers, after flaws were found in how they were created (via sfgate.com): http://bit.ly/KDsuX9 Federal Judge Agrees With MFI-Miami and Northern Michigan Attorney -- Fannie Mae Foreclosure Could Violate Northern Michigan Couple's Rights Under U.S. Constitution (via MarketWatch.com): http://on.mktw.net/LF2qQ5 The difference in how states handle foreclosures may determine how quickly their housing markets make a full recovery, according to a new report by Capital Economics (via REALTORMag): http://bit.ly/KM6exL Star Wars ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/23/real-estate-news--may-23-2012.aspx#Commentsbfd1259a-efc9-4f6f-8304-d55b1433433aWed, 23 May 2012 22:24:51 GMThttp://blog.jeffreyobrienesq.com/2012/05/20/real-estate-news--may-20-2012.aspx?ref=rssJeffrey O'BrienThousands of condo-unit owners and buyers could soon be in line for some welcome news on mortgage financing: Though officials are mum on specifics, the Federal Housing Administration is readying changes to its controversial condominium rules that have rendered large numbers of units ineligible for low down payment, insured mortgages (via seattletimes.nwsource.com): http://bit.ly/KLKkcG Foreclosure activity sinks to a five-year low (via therepublic.com): http://bit.ly/JumsWD In a real estate shopping spree of epic proportions, the daughters of Formula 1 Racing boss Bernie Ecclestone have snapped up hundreds of millions of dollars worth of high-profile properties in ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/20/real-estate-news--may-20-2012.aspx#Comments13dda68e-e83a-46f8-992d-096b5365ffa4Sun, 20 May 2012 15:54:44 GMThttp://blog.jeffreyobrienesq.com/2012/05/15/real-estate-news--may-15-2012.aspx?ref=rssJeffrey O'BrienA judge has decided that an 8-year-old girl can stay with her grandparents in their Clearwater senior community (via baynews9.com): http://bit.ly/JuANbM Residential Capital, or ResCap, filed for Chapter 11 bankruptcy protection in New York on Monday, unable to make payments on debt taken out to finance soured home mortgages. The filing will separate the money-losing ResCap subsidiary from Ally's auto loan and banking businesses, allowing them to grow and speed up repayment of Ally's bailout from 2008 and 2009, Ally said in a statement (via latimes.com): http://lat.ms/JHfIXT Report: Housing Market Recovery Has Officially Begun ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/15/real-estate-news--may-15-2012.aspx#Commentsf4611215-3960-46c2-bb9e-c19faa0ef4a3Wed, 16 May 2012 04:51:24 GMThttp://blog.jeffreyobrienesq.com/2012/05/11/real-estate-news--may-11-2012.aspx?ref=rssJeffrey O'BrienWilber is a one-and-a-half-year-old Vietnamese pot-bellied pig who was being evicted by a Houston Texas Home Owner Association (HOA) known as the Cypresswood Community Improvement Association. Wilber lives with the Sardo family and they were informed in a letter on April 6, 2011 that their Association wanted Wilber removed from their home and threatened to file a lawsuit. The reasoning behind the letter was that pot-bellied pigs are livestock and are not “common” or “traditional” pets and are therefore forbidden by Association rules (via allpetnews.com): http://bit.ly/KcYO6i Why home inspections have become ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/11/real-estate-news--may-11-2012.aspx#Comments7c3841e6-5194-4e78-beb0-5cf556b97df9Fri, 11 May 2012 12:43:55 GMThttp://blog.jeffreyobrienesq.com/2012/05/07/real-estate-radio-hour-legal-minute--may-2012.aspx?ref=rssJeffrey O'BrienThis month’s Legal Minute segments get back to basics; namely, the purchase and sale of real estate. We’re focusing on some key components of purchase agreements which apply to both commercial and residential property, and for good measure we throw options to purchase into the mix as well. Click on the links below to listen: The Law of Purchase Agreements: Offer and Acceptance (May 5, 2012) Legal and Equitable Title (May 12, 2012) Options to Purchase (May 19, 2012) ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/07/real-estate-radio-hour-legal-minute--may-2012.aspx#Commentsb817b85e-9bd5-4268-ae9f-1045d8a3a16fMon, 07 May 2012 15:00:00 GMThttp://blog.jeffreyobrienesq.com/2012/05/05/real-estate-news--may-5-2012.aspx?ref=rssJeffrey O'BrienA U.S. judge has rejected UBS AG's bid to dismiss a federal regulator's lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt (via Reuters.com): http://reut.rs/KAfVdO An Austin, Texas, man was sentenced Thursday in the Western District of Texas to 61 months in prison and was ordered to forfeit $84,010 for his role in operating a foreclosure-rescue scam in Southern California and elsewhere that charged distressed homeowners fees in exchange for fraudulently delaying foreclosure sales (via loansafe.org): http://bit.ly/KnoWML Largest Mortgage Lender Takes Bigger Bite of ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/05/real-estate-news--may-5-2012.aspx#Comments53bf5536-c68f-4dee-a302-696295ab264eSat, 05 May 2012 20:55:33 GMThttp://blog.jeffreyobrienesq.com/2012/05/01/real-estate-news--may-1-2012.aspx?ref=rssJeffrey O'BrienHOA sues family over backyard swing set (via khou.com): http://bit.ly/IlFW13 Mortgage insurer MGIC Investment Corp. agreed to pay more than $550,000 to settle allegations that it refused to sell policies to women on maternity leave (via online.wsj.com): http://on.wsj.com/KzTDNB Jeremy Mayfield loses house to foreclosure (via thatsracin.com): http://bit.ly/JBr3dq Condo Rental Caps Present Thorny Problems (via REALTORMag): http://bit.ly/JQxTx5 A Florida woman says her homeowners association took control of a house she owns, evicted her renter and moved another family in without her consent (via upi.com): http://bit.ly/KIrwvP The Supreme Court of Virginia ruled in ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/05/01/real-estate-news--may-1-2012.aspx#Comments7766528d-fa72-457b-b1e8-9da910de11c5Wed, 02 May 2012 03:46:30 GMThttp://blog.jeffreyobrienesq.com/2012/04/26/real-estate-news--april-26-2012.aspx?ref=rssJeffrey O'BrienSeattle-based Zillow says the housing market has reached a bottom in more than half of the 30 metropolitan areas tracked in the company’s Zillow Home Value Forecast (via bizjournals.com): http://bit.ly/JChCLS Big jumps in foreclosure activity in cities like Pittsburgh, Indianapolis, New York and Raleigh pushed the national numbers higher in the first three months of this year, according to a new report from RealtyTrac, an online foreclosure sales and data company (via CNBC.com): http://bit.ly/JZPySI Costco shoppers will now find that they not only can buy their groceries in bulk at the warehouse retailer, but ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/26/real-estate-news--april-26-2012.aspx#Commentsa50ae8bd-7ba5-4cbc-9810-284b8b500b5dFri, 27 Apr 2012 02:12:52 GMThttp://blog.jeffreyobrienesq.com/2012/04/24/real-estate-news--april-24-2012.aspx?ref=rssJeffrey O'BrienIt wasn’t exactly the welcoming response from the neighborhood a couple expected when they tried to enter a home they just purchased which had been in foreclosure. Their two new neighbors held them hostage at gunpoint (via REALTORMag): http://bit.ly/I8ybQo Money used for a federal program aimed at helping 18 hard-hit housing market states can now reallocate its funds to help home owners complete short sales or other foreclosure alternatives, Freddie Mac announced Monday to mortgage servicers (via REALTORMag): http://bit.ly/K6ns3c A northwestern Pennsylvania woman will spend 10 years on probation for attempting suicide by setting ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/24/real-estate-news--april-24-2012.aspx#Comments8cd0fb8f-df02-4dc6-8786-cdbfa004487dWed, 25 Apr 2012 02:37:02 GMThttp://blog.jeffreyobrienesq.com/2012/04/22/real-estate-news--april-22-2012.aspx?ref=rssJeffrey O'BrienTaylor couple loses appeal — over a fence (via detroitnews.com): http://bit.ly/Jj1lrl Four years after the real-estate meltdown, new data show banks are agreeing to far more “short sales” as an alternative to messy, protracted foreclosures (via NECN.com): http://bit.ly/HYWScv In local markets where inventories are tight and competition for homes rising, realty agents say that buyers looking to steal houses by lowballing their offers are ending up at the back of the line — their contracts either rejected out of hand or countered close to the original asking price (via seattletimes.newsource.com): http://bit.ly/IeS8Ci Soldier's foreclosure ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/22/real-estate-news--april-22-2012.aspx#Comments0924ef25-31da-401d-ba2b-0bf79029481bSun, 22 Apr 2012 15:45:58 GMThttp://blog.jeffreyobrienesq.com/2012/04/17/real-estate-news--april-17-2012.aspx?ref=rssJeffrey O'BrienFive years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery (via WashingtonPost.com): http://wapo.st/HKH170 Private equity groups going after foreclosures as rentals market (via seattletimes.nwsource.com): http://bit.ly/Iq3bV9 U.S. private equity firm Blum Capital Partners is seeking to raise capital for a fund that would invest in distressed debt backed by real estate primarily in Europe (via Reuters.com): http://reut.rs/HHbzCP The Consumer Financial Protection Bureau is considering a host of new rules that would force the nation's mortgage servicers to provide greater accountability and transparency ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/17/real-estate-news--april-17-2012.aspx#Commentsf7196e38-ecc0-4b31-9540-b2c694dd2bacWed, 18 Apr 2012 04:34:44 GMThttp://blog.jeffreyobrienesq.com/2012/04/14/real-estate-news--april-14-2012.aspx?ref=rssJeffrey O'BrienHomeowner wins American flag battle against HOA (via actionnewsjax.com): http://bit.ly/IFrXVQ In Lucky Housing Markets, Bidding Wars Are Back (via BusinessWeek.com): http://buswk.co/HPyWap Turning Foreclosed Homes Into Rentals Could Be $100 Billion Industry This Year (via HuffingtonPost.com): http://huff.to/ILOeT0 Foreclosures Recede to 2007 Levels (via REALTORMag): http://bit.ly/Iz3A9J Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac (via NPR.org): http://n.pr/HvUBFp Here’s a sign of just how big and messy the foreclosure problem is: Bank of America has sued itself at least ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/14/real-estate-news--april-14-2012.aspx#Commentsafc60856-91a0-4a86-9db4-df51e1704632Sat, 14 Apr 2012 17:31:02 GMThttp://blog.jeffreyobrienesq.com/2012/04/11/the-jobs-act--a-potential-game-changer-for-startup-businesses.aspx?ref=rssJeffrey O'BrienFor the last five of my eleven plus years of practicing business law, I have focused on working with new and emerging companies. I have seen many excellent ideas over the years, but unfortunately not all of them make it off the drawing boards. Most often, the reason for the failure to launch is a lack of capital. Credit markets have tightened significantly as a result of the economic downturn. As a result, entrepreneurs find themselves turning to private sources for funds. This method of funding, of course, requires compliance ...StartupsBusiness Lawhttp://blog.jeffreyobrienesq.com/2012/04/11/the-jobs-act--a-potential-game-changer-for-startup-businesses.aspx#Commentsf79e4013-d879-4f72-bb85-58680cf8b034Wed, 11 Apr 2012 16:00:00 GMThttp://blog.jeffreyobrienesq.com/2012/04/09/real-estate-radio-hour-legal-minute--april-2012.aspx?ref=rssJeffrey O'BrienOne of the disadvantages of doing live radio call-in shows is there is never enough time to answer the callers’ questions with great detail. That is part of the reason that I created the Legal Minute concept – so I could prepare in advance a short “PSA” on a real estate topic of interest. This month’s Legal Minute segments have one thing in common: they all stem from questions fielded by Bob Abdo and me on the March 24 show. We wanted to provide a bit more detail to our live responses ...Real Estate LawReal Estate Radio Hour Legal Minutehttp://blog.jeffreyobrienesq.com/2012/04/09/real-estate-radio-hour-legal-minute--april-2012.aspx#Comments73d957c8-336b-4b9b-b147-7e4b45ac57cfTue, 10 Apr 2012 01:45:05 GMThttp://blog.jeffreyobrienesq.com/2012/04/07/real-estate-news--april-7-2012.aspx?ref=rssJeffrey O'BrienThe Obama administration wants Fannie Mae and Freddie Mac, which finance the bulk of U.S. mortgages, to start reducing loan balances for troubled borrowers, but with safeguards to prevent them from purposely defaulting to obtain relief (via cnbc.com): http://bit.ly/HIB5UQ A leader of the Hells Angels motorcycle gang was sentenced this week to a year in prison and ordered to pay $130,000 in restitution to SunTrust Mortgage for spearheading a mortgage fraud scheme (via cnn.com): http://bit.ly/Hq3WzV A considerable bustle of leasing and selling activity will occur in the commercial real estate market between 2012 and ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/07/real-estate-news--april-7-2012.aspx#Comments72ee9681-61b6-4441-8246-4e253048e2c1Sun, 08 Apr 2012 04:11:01 GMThttp://blog.jeffreyobrienesq.com/2012/04/04/real-estate-news--april-4-2012.aspx?ref=rssJeffrey O'BrienThe Federal Reserve plans to fine Morgan Stanley (MS) over "a pattern of misconduct and negligence" in how the investment bank handles foreclosures. The Fed also ordered the company to review thousands of foreclosures and reimburse homeowners who were improperly forced out of their homes (via cbsnews.com): http://cbsn.ws/HZemEZ Company Tries Charging House-Hunting Fee to Buyers (via REALTORMag): http://bit.ly/HgmNS1 Man upset at homeowners association smears feces, pours chemicals on law, and more (via Triblocal.com): http://bit.ly/HUypcn Economists have been warning that a flood of foreclosures will soon be hitting the real estate market, likely this ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/04/04/real-estate-news--april-4-2012.aspx#Comments04a6f3b1-1661-4305-92a7-aa9fcbbf8d7bThu, 05 Apr 2012 04:03:58 GMThttp://blog.jeffreyobrienesq.com/2012/03/31/real-estate-news--march-31-2012.aspx?ref=rssJeffrey O'BrienA Tennessee woman says she's being bullied by her homeowner's association, all because she used the name of her subdivision to create a private Facebook page for residents (via consumerist.com): http://bit.ly/H8GN6O China's Biggest Commercial Real Estate Boom in 6000 Years Shaping Up in Guangzhou (via WorldPropertyChannel.com): http://bit.ly/H7fN3r Sales of investment and vacation homes surged last year, the latest evidence that investors and higher-income households are taking advantage of low home prices to scoop up bargains (via blogs.wsj.com): http://on.wsj.com/H52DXC U.S. mortgage rates sneak back below 4% (via bizjournals.com): http://bit.ly/H21bTI Midwest Housing Market Climbing ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/03/31/real-estate-news--march-31-2012.aspx#Commentsc8ca73de-96bd-4712-bf0f-b590c5895849Sat, 31 Mar 2012 13:45:06 GMThttp://blog.jeffreyobrienesq.com/2012/03/28/real-estate-news--march-28-2012.aspx?ref=rssJeffrey O'BrienFurniture industry in turmoil due to housing market collapse (via Demotix.com): http://bit.ly/H1WaxI A former mortgage broker and his ex-wife have drawn prison sentences after being found guilty in a Las Vegas fraud scheme that caused more than $52 million in losses to banks (via kolotv.com): http://bit.ly/H7yFB1 A U.S. banking regulator said Monday his agency is working to ensure that homeowners are compensated if they were harmed by errors in banks' foreclosure-processing operations, responding to critics who say the regulator's process is too friendly to banks (via MarketWatch.com): http://bit.ly/GTngT3 Second Person Found Dead In ...Real Estate Lawhttp://blog.jeffreyobrienesq.com/2012/03/28/real-estate-news--march-28-2012.aspx#Commentsf17a603f-62bb-42b1-a4cd-7b8c91ab3215Thu, 29 Mar 2012 04:21:56 GMThttp://blog.jeffreyobrienesq.com/2012/03/25/real-estate-radio-hour--march-24-2012.aspx?ref=rssJeffrey O'Brien(L-R: Andy Prasky, me, Bob Abdo and Mark Miron, Bremer Bank) On Saturday, I made one of my occasional live appearances on the Real Estate Radio Hour. While I’ve done the live show before, this appearance was notable for a few reasons. First, it was my first appearance since my joining the Lommen Abdo Law Firm. Second, it was the first time I’ve had a colleague appear on the show with me. One of our senior attorneys, Bob Abdo, was gracious enough to take time out of his Saturday morning to join ...Real Estate LawReal Estate Radio Hour Legal Minutehttp://blog.jeffreyobrienesq.com/2012/03/25/real-estate-radio-hour--march-24-2012.aspx#Commentsc1ffc97f-78eb-4a53-a2a7-f648adc477ccSun, 25 Mar 2012 17:43:25 GMT