property

Owner wins court battle against feds trying to seize his Tewksbury motel

"Caswell has been battling the government since September 2009 to save the motel his father built in 1955. The government sought to seize the motel using a civil asset forfeiture law that allows the government to seize property linked to drug crimes. The government introduced information about 15 specific drug-related incidents at the motel from 1994 to 2008, a period of time, the judge noted, when the motel had rented out 196,000 rooms. But Caswell has never been charged with — or even accused of — any criminal wrongdoing, the Globe reported in November." Continue reading →

Continue ReadingOwner wins court battle against feds trying to seize his Tewksbury motel

“FEMA Won’t Let Us Rebuild Our Home”

"The Taylor family lives in the Natomas community in Sacramento, California. On August 24, 2012, Brad and Jennifer were driving home with their two young children when they saw smoke in their neighborhood. As they got closer to home, they realized that their house was on fire. Though shaken, both Brad and Jennifer were relieved that no one had been hurt. 'It's just a fire,' Brad said. 'It can all be replaced.' Little did they know that, thanks to regulations created by the Federal Emergency Managment Agency in the wake of Hurricane Katrina -- which hit land thousands of miles away from Sacramento -- their rebuilding nightmare was just beginning." Continue reading →

Continue Reading“FEMA Won’t Let Us Rebuild Our Home”

Fed Balance Sheet Hits Record $3 Trillion

"The size of the U.S. Federal Reserve's balance sheet reached a record, Fed data released on Thursday showed, due to the central bank's purchases of Treasurys and mortgage-backed securities that are part of its unconventional policy aimed at supporting economic growth. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association (Ginnie Mae) totaled $983.2 billion, up from $947.61 billion the previous week. The Fed's holdings of Treasurys totaled $1.697 trillion as of Wednesday, higher than $1.689 trillion the previous week." Continue reading →

Continue ReadingFed Balance Sheet Hits Record $3 Trillion

The Best American Cities for Economic Growth

"So, you want to live in a place that is likely to grow. You want to own a home there. You want to own 20 more in 20 years. Where should you move to? If you want a large city, you should move here. If you want a smaller city, you should move here. Are a lot of them in Texas? Of course. Does Texas have a state income tax? No. Is the weather good? Yes. Is real estate cheap? Yes. Are people armed? Yes." Continue reading →

Continue ReadingThe Best American Cities for Economic Growth

Can the DEA Hide a Surveillance Camera on Your Land?

"A case that began with reports of suspicious activity in northeast Wisconsin forest land last spring may be headed for the US Supreme Court. That's because a US district court judge ruled in the case last fall that it was okay for the DEA to enter the rural property without a warrant and install surveillance cameras that were used to help convict five members of a family on charges they were growing marijuana." Continue reading →

Continue ReadingCan the DEA Hide a Surveillance Camera on Your Land?

ProPublica: Govt Now Runs the US Mortgage Marketplace

"The American home mortgage market has, for all practical purposes, become nationalized since the 2008 financial meltdown, according to an analysis by ProPublica, the non-profit investigative journalism project. The takeover, without which the housing market could barely function, has occurred against a backdrop of little planning or public discussion. In fact, nine out of every 10 new mortgages are now backed by the U.S. taxpayer, up from three in 10 in 2006. Fannie Mae and Freddie Mac, the taxpayer-supported housing giants, alone guaranteed 69 percent of new mortgages in the first nine months of 2012." Continue reading →

Continue ReadingProPublica: Govt Now Runs the US Mortgage Marketplace

Evictions Become Focus of Spanish Crisis

"There are now 1.7 million Spanish households in which not a single family member still earns a salary. Nearly 4 million people have lost their jobs since late 2007, when the real estate bubble burst. More than half of those out of work in Spain are now considered to be long-term unemployed. The result is that an increasing number of them can no longer service the loans they took to purchase apartments, houses and commercial space during the boom years prior to the crisis. According to a forecast by the Spanish central bank, the number of foreclosures will increase by another 30 percent in the coming year." Continue reading →

Continue ReadingEvictions Become Focus of Spanish Crisis

Florida homeowners foreclose on deadbeat banks

"Vigilante homeowners in Florida are turning the tables on banks by foreclosing on them over unpaid homeowner fees, which can amount to tens of thousands of dollars. Although banks are typically the ones foreclosing on homeowners who can’t pay their mortgages, those same banks sometimes fail to pay the homeowners fees that come with holding those properties after foreclosure, reported CNN. And when banks fail to pony up, associations have hit back by imposing liens on those properties. If they still fail to pay, associations pursue foreclosures against the banks — a reversal of the process that banks typically pursue against homeowners." Continue reading →

Continue ReadingFlorida homeowners foreclose on deadbeat banks

U.S. Courts Penetrate Domestic Asset Protection Trusts

"Building on the burgeoning popularity of offshore asset protection trusts (OAPTs), 14 U.S. states have now enacted their own 'domestic' asset protection trust (DAPT) legislation. These laws date back to the 1990s, but only in the last year have I learned of challenges to them in U.S. courts. The record is not encouraging." Continue reading →

Continue ReadingU.S. Courts Penetrate Domestic Asset Protection Trusts