DavidMilo

Will Other Counties Follow: San Bernardino, Distressed Home Owners And Eminent Domain.

DavidMilo posted this 361 Views

Traditionally, eminent domain powers are made use of by governments to get properties to develop public highways along with other public projects by paying home owners a fair market worth for their homes.Negotiations had been kept secret based on an agreement signed in February 2012 by the County and a San Francisco based Company, Mortgage Resolution Partners, involving 12 investors, including ex- San Francisco Mayor Willie Brown and his longtime business enterprise companion.What mak...

No More REO's For Institutional Investors In California?

DavidMilo posted this 657 Views

California Congressional Representatives Introduced H.R. 5823 - the Saving Taxpayers from Unnecessary GSE Bulk Sale Programs Act of 2012. The bill would halt the FHFA's REO program to sell bulk sales of Fannie Mae owned foreclosed properties in California to institutional investors.The California Association of Realtors has expressed their support for HR 5823 and while REO inventory is low and demand is high there might not be a need for bulk sales.Orange County Realtors and other California...