Laws & Taxes

WAUSAU, WI - September 10, 2010 - (RealEstateRama) -- Attorney General J.B. Van Hollen announced today that the Wisconsin Department of Justice (DOJ) and Marathon County District Attorney’s Office have charged two Wausau mortgage brokers with fraud related to their roles in a “buy back” real estate scheme.

SALT LAKE CITY, UT - September 2, 2010 - (RealEstateRama) -- A 10-count federal indictment unsealed Thursday charges Christopher D. Hales, age 29, of Midvale, with mail, wire, and bank fraud and with money laundering in connection with an alleged mortgage fraud scheme.

Phoenix, AZ - September 6, 2010 - (RealEstateRama) -- Phoenix property owners will soon receive this year's property tax assessments in the mail and the average Phoenix homeowner will pay a lower tax bill to the city. Phoenix's property tax rate is $1.82 per $100 of assessed value. This rate has not changed in 14 years.

Washington, DC - September 2, 2010 - (RealEstateRama) -- Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors

New York, NY - August 27, 2010 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, announced that RAVI PERSAUD,

Chicago, IL - August 24, 2010 - (RealEstateRama) -- Jaclyn Janssen has joined the national real estate law firm Pircher, Nichols & Meeks as a litigation attorney within its Chicago office. In her new position, she will focus on litigating matters in the areas of real estate development, acquisitions, dispositions, financing, leasing, foreclosures and constructions.

ORLANDO, FL - August 24, 2010 - (RealEstateRama) -- Sales of existing condominiums in Florida rose 11 percent in July, with a total of 5,557 condos sold statewide compared to 4,991 units sold in July 2009, according to the latest housing data released by Florida Realtors®.Eleven of Florida’s metropolitan statistical areas (MSAs) reported higher existing condo sales in July, according to Florida Realtors. The statewide existing condo median sales price last month was $87,200; in July 2009 it was $108,500 for a 20 percent decrease. The national median existing condo price was $181,300 in June, according to the National Association of Realtors® (NAR

SPRINGFIELD, IL - August 24, 2010 - (RealEstateRama) -- After nearly a full year of home sales gains statewide, the rush to meet the homebuyer tax credit deadline combined with weak job and economic reports led to a lull in Illinois home sales activity in July. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in July 2010 were down 29.7 percent, totaling 8,135 homes sold compared to July 2009 sales of 11,566 homes. The median price in July 2010 was $160,000, down 4.3 percent from $167,185 in July 2009. The median is a typical market price where half the homes sold for more, half sold for less.

JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) -- On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care:

JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) -- On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care:

JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) -- On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care:

New York, NY - August 19, 2010 - (RealEstateRama) -- Senator Andrea Stewart-Cousins (35th District – D/WF) announced that a new law guaranteeing greater protections (S7139) for tenants of buildings in foreclosure has been signed into law.

New York, NY - August 19, 2010 - (RealEstateRama) -- Senator Andrea Stewart-Cousins (35th District – D/WF) announced that a new law guaranteeing greater protections (S7139) for tenants of buildings in foreclosure has been signed into law.

Raleigh, NC - August 17, 2010 - (RealEstateRama) -- North Carolina will gain $229 million in affordable rental apartments as the result of federal tax credits approved this week by the Tax Reform Allocation Committee and loans from the North Carolina Housing Finance Agency.

Raleigh, NC - August 17, 2010 - (RealEstateRama) -- North Carolina will gain $229 million in affordable rental apartments as the result of federal tax credits approved this week by the Tax Reform Allocation Committee and loans from the North Carolina Housing Finance Agency.

Raleigh, NC - August 17, 2010 - (RealEstateRama) -- North Carolina will gain $229 million in affordable rental apartments as the result of federal tax credits approved this week by the Tax Reform Allocation Committee and loans from the North Carolina Housing Finance Agency.

Jackson, MS—The Mississippi Home Corporation (MHC) has awarded over $8 million in Housing Tax Credits (HTC) to developers for the construction and rehabilitation of 589 units statewide. The developments will create over 500 jobs, which will provide $12.89 million in constructions wages and produce $67.78 million in related spending in their communities

NEWARK, NJ - August 12, 2010 - (RealEstateRama) -- Eliyahu Weinstein, aka “Eli Weinstein,” was arrested at his home this morning by federal agents on charges that he ran an investment fraud scheme causing losses of at least $200 million, U.S. Attorney Paul J. Fishman announced.

MADISON, WI - August 12, 2010 - (RealEstateRama) -- John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Brian K. Bowling, 44, of Sun Prairie, Wisconsin, was sentenced today by U.S. District Judge Barbara B. Crabb to 51 months in prison, with a five-year term of supervised release.

August 12, 2010 - (RealEstateRama) -- Eligible Montgomery County residents are encouraged to apply for the Maryland Homeowner’s Property Tax Credit program, which limits the amount of property taxes a homeowner must pay based on income. An additional County supplement and a senior tax credit will automatically apply to eligible County residents. For a senior tax credit, residents must be age 70 or older. No additional application is required for either the County supplement or the senior tax credit. The deadline for the state application submission has been extended to November 1, 2010

WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- Senator Chuck Grassley is urging the Department of Housing and Urban Development to do a better job of preventing lifetime convicted sex offenders from receiving federal housing benefits, as federal law requires. Grassley’s letter comes after an inspector general report determined that the federal government subsidizes housing for an estimated 2,094 to 3,046 lifetime registered sex offenders.

Boise, ID - August 11, 2010 - (RealEstateRama) -- An Ada County judge has ordered more than $1 million in penalties and restitution against Access Mortgage Company, Inc. (Access Mortgage), a Seattle-based mortgage broker, for violating Idaho laws relating to mortgage and financial fraud.

TALLAHASSEE, FL - August 10, 2010 - (RealEstateRama) -- Attorney General Bill McCollum today announced his office has launched three new investigations into allegations of unfair and deceptive actions by Florida law firms handling foreclosure cases. The Attorney General’s Economic Crimes Division is investigating whether improper documentation may have been created and filed with Florida courts to speed up foreclosure processes, potentially without the knowledge or consent of the homeowners involved

August 9, 2010 - (RealEstateRama) -- Eligible Montgomery County residents are encouraged to apply for the Maryland Homeowner’s Property Tax Credit program, which limits the amount of property taxes a homeowner must pay based on income. An additional County supplement and a senior tax credit will automatically apply to eligible County residents. For a senior tax credit, residents must be age 70 or older. No additional application is required for either the County supplement or the senior tax credit. The deadline for the state application submission is September 1, 2010.In order to be eligible, a homeowner must have

WASHINGTON, DC - August 9, 2010 - (RealEstateRama) -- A federal jury in Detroit today returned a $115,000 verdict against an Ypsilanti, Mich., man for sexually harassing female tenants in his capacity as a property manager, the Justice Department announced today. The jury also found the property owner and his company liable for the illegal harassment.

LOS ANGELES, CA - August 9, 2010 - (RealEstateRama) -- National real estate law firm Pircher, Nichols & Meeks has hired Melissa Bakewell as a lateral litigation associate within its Los Angeles office. In her new position, she will focus on all aspects of real estate and general commercial litigation.

August 4, 2010 - (RealEstateRama) -- "The new space will provide the Asian American Lawyers Association (AALAM) with a place to call home. Equally important, it will go a long way toward fostering ever closer relationships between AALAM, other affinity bar organizations, and the BBA for the benefit of the members that we serve.

TRENTON, NJ - August 2, 2010 - (RealEstateRama) -- New Jersey Department of Banking and Insurance (DOBI) Commissioner Tom Considine on July 27, 2010 extended the processing deadline for hundreds of mortgage bankers, brokers, solicitors and other lenders who are transitioning their licenses to comply with the new mortgage licensing law.

LANSING, MI - August 3, 2010 - (RealEstateRama) -- Attorney General Mike Cox today announced the filing of a charge against Joseph Peters, 46, of Ada on one count of attempted felony false pretenses over $20,000. The charge comes as a result of an ongoing investigation into a questionable Michigan Film Tax credit application Peters filed with the Michigan Film Office

Washington, DC - August 3, 2010 - (RealEstateRama) -- Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of Realtors