User: demo Topic: Housing
Category: Foreclosures
Last updated: Feb 16 2019 20:28 IST RSS 2.0
 
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Bank unloads Allen Iverson’s foreclosed home in Georgia 16.2.2019 LA Times: Commentary

Allen Iverson’s former home, which he lost to foreclosure, has traded hands in Georgia for a dirt-cheap $725,000.

Wells Fargo & Co. took ownership of the estate in 2017 after suing the Hall of Famer for failing to make mortgage payments on the property, according to reports. Iverson paid $2.19...

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Young and Minorities Less Satisfied with Personal Lives 5.2.2019 Newsweek Top Stories
Americans are happy with their personal lives, a new poll reveals. Old, white Americans at least.
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Colorado foreclosure system under the microscope in U.S. Supreme Court case 25.1.2019 Denver Post: Business
Colorado's century-old public-trustee foreclosure system, the only one of its kind in the country, could be gutted if a Pueblo man wins his case before the U.S. Supreme Court, legal experts say.
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Remember the subprime mortgage mess? $1.2 trillion in risky corporate debt is flashing similar warning signs 20.1.2019 LA Times: Business

Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities and sold to investors eager for a better rate of return.

Everything’s fine while the economy is growing. But when it slows, those borrowers could default, causing problems to cascade...

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Federal watchdog finds government ignored emoluments clause with Trump hotel 17.1.2019 Minnesota Public Radio: News
The Inspector General for the General Services Administration, said that agency lawyers decided to ignore the constitutional issues when they reviewed the lease after Trump won the 2016 election.
The Sports Report: Is Anthony Davis going to be a Laker or not? 15.1.2019 Los Angeles Times - Living Green

Howdy everyone, and welcome to the Tuesday edition of the Los Angeles Times daily sports newsletter. My name is Houston Mitchell and I’m your host for the festivities.

Let’s get to it.

Anthony Davis, future Laker?

While the current Lakers are waiting for their current superstar to return from injury,...

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Morning Briefing: Stealing home is easier than you think 15.1.2019 Los Angeles Times - Living Green

The former Poway home of San Diego Padres great Tony Gwynn, who died five years ago, has an unexpected visitor.

The Gwynn family lost the home to foreclosure last summer and it had remained vacant. In December, neighbors noticed people at the house, including one man who seemed to spend a lot of...

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Tony Gwynn's foreclosed home has a squatter problem 15.1.2019 LA Times: Commentary

he Poway home of San Diego Padres great Tony Gwynn, who died five years ago, has an unexpected visitor.

The Gwynn family lost the home to foreclosure last summer and it has remained vacant. In December, neighbors noticed people at the house, including one man who seemed to spend a lot of time there.

...
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'They destroyed me.' Wells Fargo's mistake forced her to sell her home 1.1.2019 LA Times: Business

Michaela Christian lost a long battle with Wells Fargo in 2013 to save her Las Vegas home, a defeat she says changed the course of her life. When the bank refused to modify her mortgage, Christian moved in with a friend and scrambled to rebuild her life.

Five years later, Wells Fargo admits it...

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The Revolving Door and the Assault on Community Reinvestment 21.11.2018 American Prospect
Tom Williams/CQ Roll Call/via AP Images Joseph Otting, Comptroller of the Currency, prepares to testify during a House Financial Services Committee hearing in Rayburn Building in Washington.  The Community Reinvestment Act (CRA) is a piece of 1977 legislation that requires banks to reinvest in their communities. The Republicans have been gunning for it, and now proposed regulations would weaken it in several key respects. At the heart of this story is the federal regulator of national banks, whose title is U.S. Comptroller of the Currency, a man named Joseph Otting. Conflicts of interest and revolving doors in the Trump administration are such a common story that they barely make news, but this one is worth telling. In his previous job, the CRA nearly cost Otting a $24 million payday.  Congress approved the Community Reinvestment Act in 1977 to combat redlining and other forms of discriminatory lending. Senator William Proxmire, then chair of the Senate Banking Committee, authored the measure amidst ...
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The Silver Lining of the New Gilded Age: Fewer Targets 22.10.2018 American Prospect
At noon on January 17 of this year, activists began protesting outside the Blackstone Group’s New York City headquarters over the private equity giant’s foreclosures in Puerto Rico. Simultaneously, a social justice group in California released a report detailing Blackstone’s alleged mistreatment of thousands of the state’s tenants. The timing was no coincidence. The extreme concentration of economic ownership and power in 21stt-century America is creating more opportunities for disparate groups—from renters and unions to community groups and financial reform organizations—to ally against common adversaries and pressure them for broad concessions. This growing collaboration points to what some see as a necessary reaction and potential silver lining to the New Gilded Age. “The same guys own everything,” Stephen Lerner, a veteran community and labor organizer, told a crowd of labor leaders in New York City late last year. “We can align our forces in a different way because we have the same enemy.” Nurturing ...
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Will the Tax Act Set Back Private Equity? 2.7.2018 American Prospect
AP Photo/Andrew Harnik, File House Speaker Paul Ryan, left, and House Ways and Means Committee Chairman Kevin Brady, second from left, congratulate each other after signing the final version of the GOP tax bill during an enrollment ceremony at the Capitol in Washington Section 13301 of the  Tax Cuts and Jobs Act  spans only 12 of the legislation’s 503 pages. It doesn’t cover the giant corporate tax rate cut, the trim to the top marginal rate, or changes to pass-through income. It wasn’t part of anyone’s talking points, whether touting or damning the tax overhaul. After passage, few even understood how it got into the bill. But Section 13301 could affect the lives of millions of Americans. It could radically upend the balance sheets of some of the most powerful financial institutions in the country. It’s hard to know at this point exactly how these firms will compensate for the changes. But it does show how small shifts in the tax laws can have wide-ranging, unanticipated consequences. What does Section ...
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Denver approves $2.5 million in tax breaks for affordable housing in historic, run-down First Avenue Hotel on Broadway 26.6.2018 Denver Post: Local
The Denver City Council on Monday approved $2.5 million in tax breaks for the redevelopment of Broadway's former First Avenue Hotel into more than 100 micro-apartments renting at below-market rates.
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Trump's Bank Regulator Flips Obama's Script 9.6.2018 Wall St. Journal: Policy
Former banker Joseph Otting is now a top U.S. banking regulator, and he is reversing a number of his predecessor’s biggest initiatives. Financiers are pleased with the more conciliatory approach—for now.
Elizabeth Warren’s Protégé Is Running for Congress in Orange County—and Might Actually Win 29.5.2018 Mother Jones
Katie Porter was a rookie law professor at the University of Iowa in 2006 when she started asking questions about mortgage fraud. Egged on by a $100 million lobbying campaign from the financial services industry, Congress had recently overhauled federal bankruptcy laws, and much of the debate in policy circles focused on how the people […]
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Wall Street is scooping up homes for rent again as leasing prices outpace apartment rents 18.5.2018 LA Times: Business

Wall Street landlords are back in action.

Institutional investors bought more single-family rental homes in 2017 than in previous years, the first increase since 2013, according to data compiled by Amherst Holdings LLC.

Wall Street firms such as Blackstone Group LP and Tom Barrack’s Colony Capital...

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Why the financial crisis in Argentina matters 14.5.2018 Washington Post
Why the financial crisis in Argentina matters
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Virginia is for landlords 12.5.2018 Washington Post: Op-Eds
State laws are creating an eviction crisis.
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Wayne Gretzky shells out $13.5 million for a familiar place in Thousand Oaks 5.5.2018 LA Times: Commentary

NHL Hall of Famer Wayne Gretzky has reclaimed his former estate in Thousand Oaks, paying $13.5 million for the sprawling compound.

The 6.5-acre property has had quite the journey since Gretzky sold it to ex-New York Mets star Lenny Dykstra in 2007 for $18.5 million. Dykstra, riddled with financial...

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Cook County selling nearly 3,200 vacant lots to encourage redevelopment 1.5.2018 Chicago Tribune: Business
Continuing its quest to spruce up city and suburban neighborhoods, the Cook County Land Bank is putting 3,189 vacant lots up for sale. The lots will be made available at below-market rates to individuals, developers and organizations. The land bank is hoping those who buy the properties will ...
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