A Bird's Eye View » Local Market Insight

Bethesda Woman Sentenced in Multi-Million Dollar Mortgage Fraud Scheme

roostblog — Mon, 02 Nov 2009 20:58:37 +0000

Crime might pay for a while, but sooner or later, you’re gonna have to pay the piper.

That’s what Sabrina Weinberg and others found out after being arrested, indicted and later sentenced for mail and mortgage fraud. She will serve two years in the pokey and three years under supervised release.

According to court documents, Osman Al-Bari, Jamilah Al-Bari, Timothy Reed, Terrence White, Kara McIntosh and others in the mortgage industry paid straw buyers, including Weinberg, $10,000 for each property they [...]

San Jose Parks and Playgrounds List from Roost.com

Derek Overbey — Fri, 30 Oct 2009 18:33:05 +0000

I live in San Jose and I have kids. Parks and Playgrounds are a huge part of my family’s life. But when you live in a city that covers approximately 175 square miles, it’s sometimes difficult to find any park, let alone the best ones.

So the team at roost.com decided to take on the work of aggregating all the parks and playgrounds in the city my family calls home. Below we have more than 165 parks and playgrounds in the [...]

Barrington, NJ High School Proposal Could Cost $27 Million

roostblog — Wed, 28 Oct 2009 20:54:28 +0000

Barrington has a big decision to make – whether to build an expensive new high school … or not.

A cursory check into costs shows that the project could be completed by 2014 for approximately $27 million. Operating costs may not be any more than what it costs the community to ship students off to Dover right now.

At a recent meeting to discuss the future possibilities of the new high school, residents voiced concerns over the costs of the new [...]

Huntington Beach, CA Officials Offer to Settle Cape Ann Lawsuit

roostblog — Tue, 27 Oct 2009 19:50:43 +0000

According to the Orange County Register, after three long years, it appears a settlement is at-hand between Surf City officials and some local area residents. Homeowners in the Cape Ann affordable housing development filed suit in 2006 alleging that they were misled into believing that their homes would appreciate without restrictions and according to the market rate.

Buying affordable housing tracts enabled the Cape Ann homeowners to purchase their homes at a below-market rate. Based on the restrictions of [...]

Fayetteville, GA Mortgage Company Shut Down for Withholding Information from State Examiner

roostblog — Mon, 26 Oct 2009 20:51:34 +0000

When the state asks you to open your books and you don’t, you’re gonna get shut down. That’s what Fayeteville mortgage broker Francine Shannon learned when she failed to disclose information requested of her by a state examiner.

Owner of Mortgage Consultant Services, Inc. Shannon had her annual mortgage license revoked by the Georgia Department of Banking and Finance early in October. The state’s press release claims it has evidence that she intentionally withheld information requested of her by [...]

Unincorporated Areas of Wittmann and Others Have Advocate with Northwest Citizens Group

roostblog — Mon, 26 Oct 2009 19:46:17 +0000

Wittmann citizens interested in annexation issues, in particular, may want to join monthly meetings facilitated by the Northwest Citizens Group (NCG), along with Surprise staffers. Items discussed impact the Surprise planning area. Included in the planning area are unincorporated sections of Circle City, Morristown, Nadaburg, Surprise, Wittmann and the northwest area of Maricopa County between Wickenburg and Surprise.

August meeting issues discussed were proposed enhancements to communications with area residents. The effort was to begin with a local [...]

Malibu, CA Median Home Prices Finally Succumb to Economic Downturn

roostblog — Sun, 25 Oct 2009 20:46:56 +0000

From the Santa Monica Mountains to the Pacific Ocean, from Topanga Canyon to the borders of Ventura County, home sales and values in the City of Malibu are treading water.

Lower sales prices and a dramatic reduction in the number of sales have been noted, along with home values that continue to diminish. Median home sales prices have dropped over 30 percent this year. Even with the drop in the list price of homes on the market, buyers are [...]

Foreclosure Consultants Ordered By AG to Post Bond and Register

roostblog — Sun, 25 Oct 2009 20:44:34 +0000

In the battle against foreclosure and loan modification fraud, Attorney General (AG) Jerry Brown ordered over 380 mortgage foreclosure consultants to register with the AG’s office and post a $100,000 bond each. Letters were sent to each to post the required bond and register within 10 days, or provide justification as to why they should be exempt.

If the companies don’t register, post bond, or show good reason not to, criminal penalties could be imposed for up to one year in [...]

Secession of Two Long Beach Communities Stands in the Balance

roostblog — Sun, 25 Oct 2009 20:42:16 +0000

Secession. A word we’ve all heard tossed around at times, but not exactly an action we’ve seen taken in recent years in America.

Secession is the topic of interest for government entities in regards to Imperial Estates and Island Village, two Long Beach communities. Proposed by the Orange County Local Agency Formation (OCLAF), the OC Register reported that the reason for the secession was due to the shifting of the Coyote Creek Flood Channel, which changed the county border. [...]

Hesperia Homeowners Hope for Vindication in KB Home Complaint

roostblog — Fri, 23 Oct 2009 19:31:18 +0000

A close eye is being kept on the Fortune 500 company Kaufman & Broad, better known as KB Homes, by some very unhappy homeowners in Hesperia. They are anticipating an investigation of KB Homes by the California Attorney General’s (AG) Office in regards to the company’s previous joint venture with Countrywide.

Herein lies the rub for the homeowners – flaws in construction that were never repaired and unscrupulous marketing initiatives by the former joint venture of KB Homes with Countrywide. [...]