Posts Tagged ‘News’

Loan Modification - Part 2: Home Mortgage Bailout - Real Estate Foreclosure Prevention Process

Thursday, June 25th, 2009

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Police seize Nanaimo biker lair

Monday, June 22nd, 2009

Police raided an alleged s Angels clubhouse in downtown Nanaimo and turned it over to the B.C. government on Friday.

An alleged s Angels clubhouse in Nanaimo, B.C., has been turned over to the provincial government under new legislation aimed at aim preventing criminals from keeping the profits of their crimes. An alleged s Angels clubhouse in Nanaimo, B.C., has been turned over to the provincial government under new legislation aimed at aim preventing criminals from keeping the profits of their crimes.
(CBC)

The commercial property, owned by Angel Acres Recreation and Festival Properties Limited, is known to be a hangout of a local chapter of the s Angels, said police.

The government obtained a civil court order under a rather new law, Civil Forfeiture Act, passed in May 2006, that allows the province to seize property used for unlawful activity, said Solicitor General John Les.

“We are able to seize properties and ets that we think have been gained through unlawful activity or are the instruments of unlawful activity,” Les told CBC News.

Les won’t talk about allegations against the motorcycle gang, but noted “it is up to the owners or the owner of that property or ets to demonstrate to the court that they were in fact lawfully obtained or lawfully used.”

“Hopefully we will get an order where at the end of day this property will be forfeited to the provincial government at which point we will sell the property and use the proceeds for crime fighting and other policing resources,” he said.

Under the court order, the building and its contents are legally frozen and can’t be used, mortgaged or sold.

The building was empty when more than three dozen officers conducted the raid. No one was arrested.

The Solicitor General’s office said there are 60 other cases being pursued under the Civil Forfeiture Act, and over $2 million in cash and ets from other forfeitures have been turned over to taxpayers in the past 17 months.

The Nanaimo s Angels chapter is one of seven in B.C. listed on the club’s website.

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Loan Modification - Part 1: Home Mortgage Bailout - Real Estate Foreclosure Prevention Process

Thursday, June 18th, 2009

Loan Modification Attorneys Negotiate Home Mortgage Bailout - Foreclosure istance Plan - Real Estate Foreclosure Prevention Alternative To Fraud and Scams. http://ModificationHotline.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today.

At http://ModificationHotline.com You Can Claim Your FREE Copy of My Latest Report:
“THE FORECLOSURE SHARKS: A Look At The Rampant Theft Of Americans’ Homes Through Foreclosure ‘Rescue’ Scams”, and While There Also Sign Up For a FREE Consultation With Our Approved Foreclosure Prevention Specialists.

Go To http://ModificationHotline.com and Complete Our Easy Form - It Takes 2 Minutes and Can Help You Save Your Home.

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Ivan Canas: Mortgage giants paid McCain aide Rick Davis. So it’s not just the bridge to nowhere. Please read the ‘more info’ section to find out about the mortgages.

Friday, June 12th, 2009

September 23, 2008, 17:03
Mortgage giants paid McCain aide
A top McCain aide received over $US 30,000 a month for five years from top mortgage companies Fannie Mae and Freddie Mac, according to current and former executives.

Rick Davis, John McCain’s campaign manager and adviser, worked as head of an advocacy group for the mortgage companies set up to battle tougher regulation of their operations, it was reported Monday in the International Herald Tribune.

In light of the current financial crisis, McCain and Democrat candidate Barack Obama have taken turns calling for stricter regulation. While McCain and Obama have financial ties to the company, McCain has upped the ante by accusing Obama in an advertisement of taking advice directly from the former CEO of Fannie Mae, Franklin Raines. Both parties have denied any such relationship.

Recently, several current and former executives have come forward to describe what Davis did to defend the company against tougher regulation while he was president of the advocacy group, the Homeownership Alliance.

Democrats and Republicans, although on the condition of anonymity, have verified Davis’ roll in the matter. “The value he brought to the relationship was the closeness to Senator McCain and the possibility that Senator McCain was going to run for president again.”, said former spokesman for Fannie Mae, Robert McCarlson. “Davis really didn’t do anything,” added McCarlson a democrat who worked for Fannie Mae from 2000 to 2002.

In a recent interview on CNBC, McCain said that Davis was no longer employed by the mortgage companies. He added that during Davis tenure with the Alliance, he [McCain] had supported legislation to oversee the companies accounting and executive compensation.

However, the legislation did not seek to change their unusual status as a federally supported private company. In addition, many current and former executives say the Homeownership Alliance was set up simply to promote the interests of Fannie Mae and Freddie Mac in the housing market. “We thought it would be helpful to have someone who was a broadly recognized Republican to be the face of the organization, and that person became Rick Davis,” said former industry relations head William Maloni.

In late 2005, after an investigation of the mortgage companies, the Alliance ceased operations after the companies decided it was no longer needed.
Credits Russia Today

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Saturday, June 6th, 2009

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Sternlicht Says Commercial Property Faces `Large Crisis’

Wednesday, June 3rd, 2009

Jan. 29 (Bloomberg) — Barry Sternlicht, chief executive officer of Starwood Capital Group LLC, talks with Bloomberg’s Erik Schatzker about the outlook for the commercial property market.
Sternlicht, speaking at the World Economic Forum in Davos, Switzerland, says the commercial property market faces a “fairly large crisis” unless the government intervenes. (Source: Bloomberg)
For more Bloomberg coverage from Davos see http://www.bloomberg.com

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