Foreclosures

Foreclosures

Northern California Real Estate Investor Convicted of Rigging Bids at Public Foreclosure Auctions

A federal jury convicted real estate investor Glenn Guillory for his role in a conspiracy to rig bids at public foreclosure auctions held in Contra Costa County, California, the Department of Justice announced today

Northern California Real Estate Investor Sentenced for Rigging Bids at Public Foreclosure Auctions

A Northern California real estate investor was sentenced yesterday for his role in a conspiracy to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

Northern California Man Convicted of Rigging Bids at Public Foreclosure Auctions

A federal jury convicted Thomas Joyce for his role in a conspiracy to rig bids at public real estate foreclosure auctions held in Contra Costa County, California, the Department of Justice announced today.

FOIA Request Seeks Data on Reverse Mortgage Foreclosures at Steve Mnuchin’s Former Bank

Earlier today, two nonprofit groups submitted a Freedom of Information Act (FOIA) request about reverse mortgage foreclosures conducted against seniors by Financial Freedom, a reverse mortgage servicer previously owned by Steven Mnuchin, who has been nominated for the United States Treasury Secretary position by President Elect Trump.

Memo Shows Evidence of Illegal Foreclosure Practices At OneWest Bank While Steven Mnuchin Was...

A 2013 memo written by attorneys in the Consumer Law Section from the California Attorney General’s office is raising new concerns about the track record of OneWest Bank, and the ethics of its former CEO, Steve Mnuchin, who has been nominated to be Treasury Secretary by President Elect Donald Trump. David Dayen first reported on the memo earlier today in an article in the Intercept.

Four Northern California Real Estate Investors Convicted of Rigging Bids at Public Foreclosure Auctions

A federal jury yesterday convicted four real estate investors for their roles in a conspiracy to rig bids at public real estate foreclosure auctions held in Alameda County, California, the Department of Justice announced.

Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at...

Two Northern California real estate investors have agreed to plead guilty today for their role in a conspiracy to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

California Reinvestment Coalition Proud of New Law to Protect Californians from “Widow Foreclosures”

The California Reinvestment Coalition is pleased to announce that earlier today, Governor Brown signed SB 1150 (Leno, Galgiani) to protect widows, widowers, and other heirs from unnecessary foreclosures. Senate Bill 1150, the Homeowner Survivor Bill of Rights (SBOR), was co-sponsored by the California Reinvestment Coalition, Housing and Economic Rights Advocates and the California Alliance for Retired Americans

California Assembly Approves Bill to Stop “Widow Foreclosures”

Earlier today, California’s assembly moved one step closer to enacting legislation designed to protect widows, widowers, and other heirs from unnecessary foreclosures. Senate Bill 1150 (Leno, Galgiani), the Homeowner Survivor Bill of Rights (SBOR), was approved by the Assembly with 47 votes for it. The next step is a concurrence vote by the Senate, and then the bill would head to Governor Brown.

California Housing Advocates Respond to CFPB’s Final Mortgage Servicing Rules

The Consumer Financial Protection Bureau released its finalmortgage servicing rule today, with stronger protections to prevent unnecessary foreclosures on successors-in-interest, more commonly known as “widow foreclosures.”

SB 1150 Passes Senate Hurdle After Dramatic Turnaround

Senate Bill 1150, a bill to protect widows, widowers and other heirs from unnecessary foreclosures, passed a key hurdle today when it was voted out of the Senate on a vote that was not without drama. Amidst intense industry lobbying pressure and after appearing to go down to defeat for failing to secure sufficient votes yesterday, the bill secured the needed 21 votes today.

New Data Reveals: CIT Group’s Financial Freedom is Responsible for Nearly 40% of HECM...

Earlier today, the California Reinvestment Coalition called on the Department of Housing and Urban Development (HUD) to impose a moratorium on any additional reverse mortgage foreclosures by CIT Group and its subsidiary, Financial Freedom. The call for a moratorium is based in part on new data (see fact sheet here) that CRC obtained from HUD, indicating that Financial Freedom/CIT Group’s share of reverse mortgage foreclosures (39%) since April 2009 is more than two times greater than the company’s estimated market share (17%).

THOMPSON SECURES MORE THAN $2 MILLION FOR AMERICAN CANYON GREEN ISLAND INDUSTRIAL DISTRICT

U.S. Rep. Mike Thompson (CA-05) today announced a $2,438,681 Economic Development Administration (EDA) investment which will support roadway and infrastructure improvements to the Green Island Industrial District (GRID) in American Canyon. The funds will be used to help reconstruct Green Island Road, a goods movement corridor for the GRID. In August, 2014 Thompson urged Northern California’s EDA representative to support the City of American Canyon’s application for federal funding.

Two Northern California Real Estate Investors Plead Guilty to Bid Rigging and Fraud at...

Two Northern California real estate investors pleaded guilty for their role in bid-rigging conspiracies and mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced today.

C.A.R. 2015 Home buyers Survey findings

With an improving economy and job market over the past year, home buyers have started forming households again, and buyers who previously experienced a foreclosure or short sale are back in the housing market, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2015 Survey of California Home Buyers.”

Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners

The California Chamber of Commerce is holding its annual “Capitol Summit” meeting this week, and two statewide nonprofits are calling on the Chamber to reverse its position on legislation that would protect widowed homeowners from unnecessary foreclosures

Northern California Real Estate Investor Agrees to Plead Guilty to Bid Rigging at Public...

A Northern California real estate investor has agreed to plead guilty for his role in conspiracies to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging and...

Two Northern California real estate investors have agreed to plead guilty for their role in bid rigging and fraud conspiracies at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Northern California Real Estate Investor Agrees to Plead Guilty to Bid Rigging and Fraud...

Felony charges were filed today in the U.S. District Court of the Northern District of California in Oakland against Ramin Yeganeh of San Mateo, California.

CalHFA Awarded $450,000 to Provide Counseling for Struggling Homeowners Provides assistance to California homeowners...

The California Housing Finance Agency (CalHFA) today announced that it will receive more than $450,000 in additional federal dollars to provide free counseling to homeowners struggling to avoid foreclosure

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C.A.R. Business Products now offers 3D home tour technology exclusively to...

Real Estate Business Services® Inc. (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), through its C.A.R. Business Products division, has signed a partnership with 3D home tour provider immoviewer, to help REALTORS® easily create virtual property tours and boost their business

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CBRE National Retail Partners West Completes Sale of BeachWalk in Solana...

CBRE’s John Read announced that his National Retail Partners – West (NRP-West) team along with Reg Kobzi in CBRE’s San Diego office completed the sale of BeachWalk, a 54,973 square-foot coastal retail center in the city of Solana Beach, Calif. Situated along Highway 101, the property is steps to the Pacific Ocean, walking distance to the Cedros Design District and Amtrak Train Station, and less than a mile from the world famous Del Mar Fairgrounds, site of the Del Mar Racetrack. The sale price was $33.25 million. More...