The former owner of the Original Steakhouse in Broadlands was captured in Texas and arrested on fraud charges. Osama El-Atari has since been brought back to Virginia and is being held in the federal dentention center in Alexandria.
Read more »Former Owner of Broadlands Restaurant Arrested in Texas
Virginia RE Bloggers uses Social Media to win Board Votes
Social Media blogger, twitterer and Realtor Frank LL0SA tries to use all of the Social Media tricks to get NVAR Realtor to vote for him for the NVAR Board of Directors race. So far he is 2nd to last place!
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PACCAR Renews Bank Credit Facility
An additional existing $1 billion credit facility matures in June 2012. These bank credit facilities provide back-up liquidity for PACCAR’s commercial term papers and medium-term notes. “PACCAR is pleased to renew its credit facility with over twenty of the leading banks and financial institutions worldwide,” said Ron Armstrong, senior vice president.
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My Landlord is the United States Government?
The Obama administration is looking into creating a plan where mortgage borrowers who have fallen behind on their payments may now have the United States government make the payments for them, and then pay the government rent in the process.
Read more »Housing Troubles and Bubbles
Robert Shiller, Yale economics professor and the co-creator of the influential Case-Shiller Home Price Index, says another housing bubble could be looming.
Read more »Report: Option ARMs Performing Worse than Subprime
For the third straight month, option adjustable-rate mortgages are generating proportionally more delinquencies and foreclosures than subprime mortgages ...
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Category: Foreclosures & Short Sales Tags:
AG sues Tucson real estate agents for 'unconscionable' behavior
Arizona Attorney General Terry Goddard has filed a lawsuit against a group of Tucson real estate agents and businesses, alleging the group devised a three-pronged scheme using rent-to-own properties to defraud investors, lenders and homebuyers.
Read more »Lenders Buried Under Load of Mortgage Re-Works
As borrowers desperately try to rework their mortgages they keep running into the same old barrier, the mortgage companies are so buried with reworks they can not get to everyone. Between TARP and Making Home Affordable program and other expectations many of the larger mortgage lenders just do not have the manpower and resources to support all the borrowers looking to rework the mortgages that need reworking.
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Category: Foreclosures & Short Sales Tags:
Dropping home values crunch credit lines
As home values fall, home equity credit lines -- a favorite cash source for entrepreneurs -- are vanishing.
Read more »Mortgage applications rebound
Requests for home loans and refinancing activity increased last week after falling to 7-month lows the week before.
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