Blog Page 1119

Manhattan U.S. Attorney Charges President of Mortgage Brokerage Firm in $23 Million Fraud Scheme

New York, NY - December 10, 2009 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation ("FBI"), and RICHARD H. NEIMAN,

DELEG Announces Green Lodging Certification for Trout Creek Condominium Resort in Harbor Springs Facility...

December 10, 2009 - (RealEstateRama) -- Trout Creek Condominium Resort, located in Harbor Springs, has earned Green Lodging Michigan (GLM) Steward certification from the Michigan Department of Energy, Labor & Economic Growth (DELEG).

Mikulski Announces Nearly $3 Million Conditional Loan Guarantee to Rehabilitate Affordable Housing Complexes in...

WASHINGTON, DC - December 10, 2009 - (RealEstateRama) -- U.S. Senator Barbara A. Mikulski (D-Md.) announced today that Kent County Associates, L.P. in Kent County, Maryland, has been awarded a conditional $2.97 million loan to guarantee the rehabilitation and revitalization of affordable rental housing complexes in Fairlee and Rock Hill, Maryland. The conditional loan guarantee has been awarded through the USDA Rural Rental Housing Guaranteed Loan program.

Chairwoman Mikulski Puts Funds in the Federal Checkbook to Fight Mortgage Fraud

WASHINGTON, D.C. - December 10, 2009 - (RealEstateRama) -- U.S. Senator Barbara A. Mikulski (D-Md.), Chairwoman of the Commerce, Justice, Science and Related Agencies (CJS) Appropriations Subcommittee, today announced a critical step forward in putting funds in the federal checkbook to track down and prosecute perpetrators of mortgage fraud. The funds are included in the CJS Appropriations Bill, which was approved by a House-Senate Conference Committee as part of Congress’ Fiscal Year 2010 Consolidated Appropriations Bill.

CONGRESS VOTES TO SUPPORT MIDDLE CLASS TAX RELIEF, JOB CREATION, ENERGY CONSERVATION

Washington, D.C. - December 9, 2009 - (RealEstateRama) -- Today, Congressman John Sarbanes voted for H.R. 4213, the Tax Extenders Act of 2009, which passed by a vote of 241 to 181. The measure will directly assist working families by extending property tax relief, the college tuition deduction and the deduction for teachers who pay out of pocket for classroom expenses.

Kratovil Backs Bill That Brings Tax Relief to Small Businesses and Working Families

December 10, 2009 - (RealEstateRama) -- Today, Rep. Frank Kratovil supported the Tax Extenders Act of 2009, which extends tax relief provisions for working families and businesses to help spur job growth. The legislation will extend the R&D tax credit for nearly 11,000 businesses, provide up to 30 million homeowners with property tax relief, and provide a college tuition deduction that will make college possible for 4.5 million families

Two Defendants Indicted for Price-Flipping 35 Homes in Mortgage Fraud Scheme

December 10, 2009 - (RealEstateRama) -- A federal indictment was unsealed today against a Minnesota pair for allegedly orchestrating a mortgage fraud scheme in which they stole more than $2.5 million from lenders nationally by obtaining fraudulent loans for the purchase of 35 homes in the Twin Cities. The indictment charges Zack Zafer Dyab, 45, of Golden Valley, and Julia Alexander Rozhansky, 45, of Minnetonka, with one count of conspiracy to commit wire fraud, six counts of mortgage fraud through use of interstate wires, and one count of engaging in a monetary transaction involving criminally derived property.

Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme

PHILADELPHIA, PA - December 8, 2009 - (RealEstateRama) -- 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the FBI Janice K. Fedarcyk, and Pennsylvania Secretary of Banking Steven Kaplan.

Funds available for farmworker housing

Salem, OR - December 8, 2009 - (RealEstateRama) -- Oregon Housing and Community Services (OHCS) today announced a funding opportunity for farmworker housing.

Funds available for farmworker housing

Salem, OR - December 8, 2009 - (RealEstateRama) -- Oregon Housing and Community Services (OHCS) today announced a funding opportunity for farmworker housing.

Governor Paterson Announces Stimulus Funds Targeted To Cut Energy Costs For Low-Income Residents Of...

Albany, NY - December 8, 2009 - (RealEstateRama) -- Governor David A. Paterson today announced $60.3 million in federal American Recovery and Reinvestment Act (ARRA) funding for weatherization projects that will work to reduce the energy burden on low-income residents in 9,431 multi-family housing units around the State.

Housing Stabilization Funds Available

BISMARCK, ND - December 9, 2009 - (RealEstateRama) -- The North Dakota Housing Finance Agency (NDHFA) is soliciting pre-applications for funding under the federal Neighborhood Stabilization Program (NSP).

Senate Judiciary Committee Hearing on Mortgage Fraud, Securities Fraud, and the Financial Meltdown: Prosecuting...

December 9, 2009 - (RealEstateRama) -- Good afternoon, everyone. I am honored to call to order this hearing of the Senate Committee on the Judiciary. And I thank Chairman Leahy for permitting me to chair this hearing

Property Improvements May Qualify for Tax Exemption

Sioux City, IA - December 9, 2009 - (RealEstateRama) -- December 31 is the deadline to file for Urban Revitalization Tax Exemption on eligible properties which received property improvements during calendar year 2009. All residential property owners within the corporate limits of the City of Sioux City that made improvements to their property in 2009 are encouraged to apply for the tax exemption.

Congressman Al Green Urges Mortgage Servicers to Address the Needs of Minority Borrowers

Washington, DC - December 9, 2009 - (RealEstateRama) -- Today Congressman Al Green (TX-09) called on private mortgage servicers to better address the needs of struggling minority homeowners during a hearing of the House Committee on Financial Services regarding the current foreclosure crisis.

EastGroup Properties Announces Presentation at Wells Fargo 13th Annual Global Real Estate Securities Conference

Jackson, MS - December 9, 2009 - (RealEstateRama) -- EastGroup Properties (NYSE-EGP) announced today that it is scheduled to present at the Wells Fargo 13th Annual Global Real Estate Securities Conference. EastGroup's presentation is scheduled for Wednesday, December 9, 2009 at 9:05 a.m., EST. The presentation will be live via web cast and is accessible at http://www.wsw.com/webcast/wa58/egp/ the day of the conference and will be archived at the same URL for 90 days.

Pollin Family, Enterprise Homes Celebrate Groundbreaking of Linda Joy and Kenneth Jay Pollin Memorial...

Columbia, MD - December 9, 2009 - (RealEstateRama) -- Washington, D.C. Mayor Adrian Fenty, the Pollin family and representatives from Enterprise Homes, Inc. today celebrated the groundbreaking of the Linda Joy and Kenneth Jay Pollin Memorial Community Development in northeast Washington.

Hawai’i Eligible to Receive $21 Million in Homeland Security Grants

WASHINGTON, DC - December 9, 2009 - (RealEstateRama) -- U.S. Senators Daniel K. Akaka and Daniel K. Inouye announced today that Hawai‘i will be eligible to apply for more than $21 million in grants distributed by the U.S. Department of Homeland Security (DHS) for 2010. DHS Secretary Janet Napolitano released the application guidance for the DHS grants programs today.

MARKEY ANNOUNCES HOMEBUYER TAX CREDIT EXTENSION

Washington, DC - December 9, 2009 - (RealEstateRama) -- Colorado homebuyers will be able to take advantage of the $8,000 homebuyer tax credit for an additional three months, Congresswoman Betsy Markey announced today

Hillєs Property Tax Assistance Legislation Extended Another Year under Tax Extenders Package

Washington, DC - December 8, 2009 - (RealEstateRama) -- Congressman Baron Hill has successfully ensured that his property tax relief language included in the Housing Assistance Tax Act of 2008 will be incorporated into the Tax Extenders Act of 2009, H.R. 4213. The bill, which is scheduled for a vote tomorrow, would extend Hill’s property tax relief for another year.

Webster Man Pleads Guilty to Bilking More Than $7 Million from Mortgage Lenders

December 8, 2009 - (RealEstateRama) -- A 27-year-old Webster man pleaded guilty today in federal court to bilking more than $7 million from at least 15 real estate mortgage lending companies between 2005 and 2008. Appearing before United States District Court Judge Richard Kyle in St. Paul, Dustin LaFavre pleaded guilty to one count of conspiracy to commit mail and wire fraud in connection with this crime. LaFavre was charged on November 5, 2009

Klein, Committee Examine Solutions for Mortgage Crisis

Washington, D.C. - December 8, 2009 - (RealEstateRama) -- Congressman Ron Klein (FL-22) today participated in a hearing of the House Financial Services Committee seeking solutions to the current mortgage crisis. Klein described the serious problems in the South Florida housing market for the Committee and witnesses, and said that it “is essential for banks and the federal government to implement effective programs to increase loan modifications and prevent foreclosures. It is simply not acceptable to watch responsible families in our community lose the homes they have worked so hard for.”

CFO of Real Estate Development Firm Admits Role in Fraud Scheme

December 8, 2009 - (RealEstateRama) -- Nora R. Dannehy, United States Attorney for the District of Connecticut, announced that PAUL MAYOTTE, 69, of Brookfield, the CFO of Girouard Associates, Inc. and RRG Investments, LLC, both of which are owned by Connecticut real estate developer Richard Girouard, pleaded guilty today before Senior United States District Judge Alfred V. Covello in Hartford to one count of an indictment charging MAYOTTE with conspiring with Girouard to commit wire fraud related to a scheme to defraud an investor out of money.

DHCR Announces $32 Million in Awards for Affordable Housing Developments

Albany, NY - December 8, 2009 - (RealEstateRama) -- Deborah VanAmerongen, commissioner of the state Division of Housing and Community Renewal (DHCR) today announced $32 million in grants that will help to build or rehabilitate 755 affordable homes for low-income families, frail elderly and people with disabilities.

EBS acquired its 64th property with the closing of Advantage Storage in Plano, Texas

Dallas, TX - December 7, 2009 - (RealEstateRama) -- Equity Based Services, Inc. (“EBS”) announced today that it has acquired Advantage Self Storage in Plano, Texas, located at 3900 McDermott Road.

Schumer Introduces Legislation to Allow More Military Personnel to Qualify for Affordable Housing Program

Washington, DC - December 7, 2009 - (RealEstateRama) -- Today U.S. Senator Charles E. Schumer announced that he is introducing legislation to help provide more affordable housing options for military service members.

HUD SECRETARY ANNOUNCES DISASTER ASSISTANCE FOR ARKANSAS STORM VICTIMS

Foreclosure protection offered to displaced families in 37 counties WASHINGTON, DC - December 8, 2009 - (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in Arkansas and provide support to homeowners and low-income renters forced from their homes following severe storms, tornadoes, and flooding.

FHA SUSPENDS EQUITABLE TRUST MORTGAGE CORP.

WASHINGTON, DC - December 8, 2009 - (RealEstateRama) -- The Federal Housing Administration (FHA) today announced that it is immediately suspending Equitable Trust Mortgage Corporation (ETM) of Baltimore, Maryland, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. FHA is imposing this action because ETM improperly overcharged 37 borrowers for broker and loan origination fees in excess of what the U.S. Department of Housing and Urban Development currently allows. HUD discovered that these unauthorized fees were charged to a substantially greater percentage of minority borrowers (68 percent) than non-minorities.

Home Foreclosures and DelinquentMortgage Loans Continue to Increase Modestly at Maine Banks and Credit...

AUGUSTA, ME - December 8, 2009 - (RealEstateRama) -- Bureau of Financial Institutions Superintendent Lloyd P. LaFountain, III announced this week that third quarter 2009 data submitted by Maine-chartered banks and credit unions shows a continuing modest increase in home foreclosures in Maine. In general, foreclosure activity at Maine banks and credit unions appears to be lower than in many other states and it does not pose a threat to the stability of Maine-chartered financial institutions.

NEW REBATE PROGRAM REWARDS CONSUMERS FOR RECYCLING OLD, ENERGY HOG APPLIANCES

Topeka, KS - December 8, 2009 - (RealEstateRama) -- Kansas Housing Resources Corporation (KHRC) has launched a new appliance rebate program that rewards low-income households for replacing old, electricity-guzzling household appliances with new energy efficient models. The State Energy Efficient Appliance Replacement Program, or SEEARP, provides rebates to consumers who purchase ENERGY STAR® refrigerators, clothes washers, freezers, dishwashers and window air conditioners. Funded by the American Recovery and Reinvestment Act (ARRA) of 2009, SEEARP will provide $2.6 million for the replacement of an estimated 4800 appliances

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Mississippi Real Estate Investors Plead Guilty to Conspiring to Rig Bids...

Real estate investors Kevin Moore, Chad Nichols, and Terry Tolar pleaded guilty today for their roles in a conspiracy to rig bids at public real estate foreclosure auctions in Mississippi, the Department of Justice announced.