Real Estate Blog New York December Archive

Investor files lawsuit against Bank of America on loan restructuring, says it violates contractual agreements

12/31/08 14:31

And so the war on loan restructuring has already commenced. One investor, William Frey, an investor in mortgage-backed securities, filed a lawsuit against the Bank of America for its alleged breaking of contractucal agreements and hurting the financial system. He even plans to elevate the lawsuit into a class suit.

Read more: Investor files lawsuit against Bank of America on loan restructuring, says it violates contractual agreements [click]

Low interest rates push homeowners to refinance

Was your home loan made during times when mortgage interest rates are high? This might be the time for you to refinance, as interest rates are dropping further than usual.

Read more: Low interest rates push homeowners to refinance [click]

Home sales drop 8.6%

In a further drive down of real estate sales prices in the United States, it was reported that home sales dropped to an annualized rate of around 4.49 million units last month. This represents a drop of 8.6% since October.

Read more: Home sales drop 8.6% [click]

Condo buyers get the upper hand

When the real estate market is down, the upper hand goes to the buyer. Paying millions of dollars for a condominium unit in high-end areas like Manhattan is no joke. The developers should be able to deliver what they have promised. A little deviation from these promises and the buyer will try to cut the deal off.

Read more: Condo buyers get the upper hand [click]

Foreclosures Effects on Home Selling Industry

Recent home foreclosures will give ordinary home sellers a hard time which selling their homes off as Real Estate repossessed homes are on the market which are 40 percent lower that normal real estate listings.

Read more: Foreclosures Effects on Home Selling Industry [click]