A tentative settlement has been reached in a class action lawsuit in South Carolina against the corporate officers of LandAmerica 1031 Exchange Services, a financial group that filed for bankruptcy in the midst of the financial crisis of 2008.

Tagged with: Class Action real estate

The down economy has sparked a number of new investment opportunities, particularly for individuals with the good fortune of being flush with cash and having the ability to get creative without having to convince a lender that a deal is viable. One such investment that has become more prevalent since the recession is the purchase of non-performing loans.

Tagged with: real estate

Last year, Gastonia real estate lawyer Keith Hance found himself facing a home closing involving financing that complied with Islamic law. He looked into the law, also known as Shariah, but in the end he passed on the closing at a time when the real estate market was still down and many in the business were hungry for activity. The financing for the home, he said, didn’t “pass the smell test.”

Tagged with: real estate

In 22 years of practicing law, Charlotte residential real estate attorney R. Steven Smith had never had anything like it happen to him. Just before Memorial Day, Smith was representing a real estate agent in a closing for a waterfront home in the Charlotte area. The buyer was from Beijing, Smith was told, and moving to Charlotte to take a position in the information technology department of a local bank.

Tagged with: Fraud real estate

By PATRICK THORNTON, Dolan Media Newswires [email protected]   Loan modifications and the Home Affordable Modification Program are the buzz words in residential real estate right now, as more and more homeowners apply for reduced monthly mortgage payments as a way ...

Tagged with: Attorneys real estate Real Property

By ROBERT NUSGART, Dolan Media Newswires [email protected]   America’s housing inventory is ballooning with foreclosures and abandoned homes. Short sales, where owners sell their homes for less than what they owe, are commonplace. Also commonplace is that these homes typically ...

Tagged with: real estate Real Property