Real Estate & Property Law

Fearing Foreclosure, Debtors Sue Lenders Over Excessive Mortgages

Rather than waiting for lenders to foreclose, a group of struggling borrowers in Florida has turned the tables by suing those who gave them mortgages they can’t afford to pay. “They have beaten their lender to the courthouse by filing lawsuits that allege the institutions committed fraud and violated federal…

Jun 12, 2008 6:27 PM CDT

Estate of ‘Sagebrush Rebellion’ Rancher Wins $8.6M in Water Rights Case

A well-known Nevada rancher has won $8.6 million in a 17-year battle against the government over restricted grazing and water rights, two years after he died. The estate of Wayne Hage was awarded more than $4.2 million last week by a federal judge in Washington, D.C., who found there had…

Jun 11, 2008 5:23 PM CDT

Criminal Cases Against Mortgage Leaders Unlikely, Despite Subprime Crisis

Updated: Although the FBI and U.S. Department of Justice are reportedly investigating mortgage industry leaders after a foreclosure crisis sparked by failing subprime loans, criminal cases against them appear unlikely. For one thing, because of the complexity of the situation, it will probably take years to sort the situation out.…

Jun 9, 2008 5:13 PM CDT

High Court Rules RICO Plaintiffs Need Not Rely on Misrepresentations

The U.S. Supreme Court has made it easier for some plaintiffs to prove their cases in civil suits brought under the Racketeer Influenced and Corrupt Organizations Act. The court ruled in a unanimous decision (PDF posted by SCOTUSblog) that plaintiffs in a RICO suit claiming mail fraud do not have…

Jun 9, 2008 3:56 PM CDT

Latest Mortgage Foreclosure Stats Hit Almost 30-Year High

Updated: A report today by a trade association on troubled mortgages during the first quarter of 2008 says the number of delinquencies, new foreclosures and the inventory of homes in foreclosure are all at the highest level since 1979. “New foreclosures rose to a seasonally adjusted 0.99 percent of all…

Jun 5, 2008 5:49 PM CDT

Bond Rating Firms, Criticized in Subprime Crisis, Near Deal on Reform

The top bond ratings firms are close to an agreement with the New York attorney general that would change the way they collect fees to grade securitized subprime mortgages and other bonds. The firms affected would be Moody’s Investors Service, Standard & Poor’s and Fitch Ratings, report the New York…

Jun 4, 2008 4:39 PM CDT

Ed McMahon in Foreclosure in Beverly Hills

Updated: It isn’t just struggling blue-collar workers who are battling in court with mortgage lenders in the ongoing real estate meltdown. Ed McMahon, famous among late-night television fans as Johnny Carson’s longtime sidekick, could lose his Beverly Hills home to foreclosure due to health problems. As of late February, the…

Jun 4, 2008 4:19 PM CDT

Wis. High Court Allows Homebuyer to Sue Seller Over Leaky Basement

The Wisconsin Supreme Court has ruled a homebuyer can sue the previous owners on a claim they lied about flooding in the basement. The suit by homebuyer Chad Novell claims the sellers told him their basement never had water in the nine years they lived there and that they had…

Jun 2, 2008 12:31 PM CDT

Guerrilla Gardeners Tiptoe Around Law to Beautify—and Eat

In addition to commonplace concerns like weeds, weevils and adverse weather conditions, urban gardeners in far-flung locations including Miami, Southern California, London and Berlin face a significant additional challenge. At any time, police or angry property owners might appear to put a stop to their efforts. That’s because these guerrilla…

May 30, 2008 7:30 PM CDT

Claimed Calif. Land Grant Scheme Scams 400-Plus Homeowners

Authorities say more than 400 struggling California homeowners, many of them Spanish-speaking, were tricked into paying up to $10,000 for worthless “land grants” and other bogus measures claimed to provide protection from foreclosure. Four individuals have been arrested and a fifth is being sought in a case that involves over…

May 27, 2008 5:01 PM CDT

FBI Report: Many More Corporate, Mortgage & Securities Cases Last Year

There’s no shortage of work for FBI agents, as the agency has revved up its investigations of alleged corporate, mortgage and securities wrongdoing in recent years. The Federal Bureau of Investigation reports that the number of corporate fraud investigations last year, 529, was nearly double the figure for five years…

May 23, 2008 6:30 PM CDT

‘Sexy’ Seattle Pet: Backyard Chicken

Seattle residents are crowing about an increasingly popular pet: the backyard chicken. Under longtime zoning law, it is legal to keep a small number of chickens in this major metropolitan area, the Seattle Times reports. But chickens are “sexy” right now, according to Angelina Shell of the Seattle Tilth’s city…

May 19, 2008 10:09 PM CDT

Eatery’s Dancing Dumpling Busted; Human Sign Cited for Code Violation

A costumed dancing dumpling who attracted attention to a Clearwater, Fla., restaurant by waving a saute pan at passing motorists has reportedly disappeared from the premises after the eatery’s owner was cited for a code violation. Officials say the human sign violates the city’s code and could distract motorists, reports…

May 15, 2008 4:50 PM CDT

Judge Refuses to Dismiss Countrywide Shareholder Suit

A California federal judge has refused to dismiss a shareholder lawsuit against directors and officers of Countrywide Financial Corp. Judge Mariana Pfaelzer ruled Tuesday that confidential witness accounts cited in the complaint were credible and suggested “a widespread company culture that encouraged employees to push mortgages through without regard to…

May 15, 2008 10:58 AM CDT

Denver Lawyer’s Retirement Job: Renovating Paris Apartments

A Denver lawyer has found an innovative way to keep busy during his “retirement” and, when his project is complete, vacation in a lovely Paris apartment with his wife at a cost of roughly $55 a night. His unusual avocation: renovating Paris apartments for eventual sale, via American corporate ownership,…

May 14, 2008 12:10 AM CDT