In Nye County, Nevada, a judge has ordered a unit of Bank of America Corporation to halt the majority of its foreclosures in Nevada pending investigation of allegations that the unit, Recon Trust, has been operating without a state business license and has been serving foreclosure notices without even being appointed a Bank of America trustee[1]. These are serious allegations under any circumstances, and just more bad news for the beleaguered lender who recently concluded a “deal” with government-controlled Fannie Mae and Freddie Mac that has led many people to …

January 2-7, 2011
Major Commercial Developer Sees Commercial Real Estate Indicators as “100 Percent Positive”
Jan. 03, 2011 – CB Richard Ellis chief executive Brett White considers 2011 commercial real estate indicators to be “100 percent positive,” he told the Washington Post[1]. “There is no question that we are in the early days of a recovery phase,” he said, adding that investors’ sentiments are “strongly positive” and that businesses are looking years (instead of only months) into the future. White added that “vacancies have clearly peaked in almost every market and every …

The heat is on: after pressure from the Senate and more homeowners, the country’s largest bank gives in.

Last Friday, Senate Majority Leader Harry Reid, D-Nevada pleaded to major mortgage servicers and banks to extend the recent foreclosure freezing to all fifty states. According to him, if homeowners in 23 states get a chance at delaying foreclosures, so do those from the remaining 27 states. And it seems that Bank of America has heeded to the plea.
The country’s largest bank, Bank of America, has announced last Friday that it is widening …

A Massachusetts couple is hailing the Bank of America to court for wrongfully seizing their fully-paid retirement house in Springville, Florida, which is the third time within the past four months that the bank had committed a faux pas in foreclosing alleged ‘repossessed’ properties.
Construction worker Charlie Cordoso recalled that he and his wife, Maria, acquired the house in 2005 and regularly visits the place on vacation tours to the southern state but the couple was surprised when they discovered last month that their belongings were hauled out from the property.
Worst, …

Auction is exclusively for owner-occupant homebuyers
ONTARIO, Calif., June 28 — Real estate auction specialist REDC and Bank of America today announced plans to auction more than 100 bank-owned homes in the Inland Empire. The auction will be open to homebuyers seeking a home as a primary residence, municipalities participating in the U.S. Housing and Urban Development (HUD) Neighborhood Stabilization Program (NSP), and housing nonprofit organizations.
The auction will be held on Saturday, July 24, at the Ontario Convention Center. Registration begins at 8:00 a.m. PDT and the auction begins at 9:30 …