aelusiveone
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Real Estate and Houston legal news
From cities as diverse to one another as Boston and Houston, the subprime fiasco contines to get more and more interesting, if in a negative and chaotic way…… According to a wonderful story by elite journalist Mark jewell of the respected AP,
various Regulators are doing their best to punish the stock market powers that be for their part in the mortgage finance practices which contributed to the subprime mess which has really rocked the whole nation in recent months for sure.....
Some securities regulators plus two seperate cities which were hit hard in this crises have fired the opening shots of this new war through lawsuits trying to decisively show that the various investment banks and the other prime lenders are in fact guilty of more than just poor or incompetent business decisions as a whole. And some regulators even insist that
severe greed combined with fraud caused much of the subprime mortgage confusion which have spread so quickly and mercilessly across the real estate markets. For additional legal news by all means visit
The Legal News Blog
as there are a lot of update headlines regarding law news in general.
I hope they have a good lawyer.
Speaking of lawyers and law in general, if you are in Houston, Texas or the greater Houston area and need a lights out Houston family law lawyer
then certainly take a long look at the esteemed offices of Brad Tilton
His law firm can help with many types of cases like child custody, divorce,prenuptial agreements, grandparents rights and the like...... as well as related cases in the city of Houston plus the surrounding district and county. All in all he can assist with amicable and successful conclusion to a variety of family law matters
The actions could in fact prompt investors to file even more lawsuits than the ones that they have brought to bear up to this point in time.
There certainly were a lot of resources wasted, that is for sure. All of those foreclosed homes sitting vacant due to the rampant speculation that went on.
Even though some cities have indeed sued to try to recover damages from the “big bad” mortgage lenders in question, the majority of the cases filed up to this point are from the official regulators who are alleging violations of the state securities laws.
This thing sort of has the same ring to it as the Savings & Loan disaster of 1986 and 1987 which really lasted into the 1990’s if you measure it’s fill impact.
It used to be that unds from stock market banks extended increasing quantities of credit to low & middle-income people who were possibly lured into the real estate market at the wrong time.. Wow, what a tangled web we weave!
But now that prices are dropping, those players are hurting. The losses have truly been staggering for some of the concerned parties.
At this early point in time, the raw number of these types of cases filed fast outpacing the rate of litigation which emerged from the S&L meltdown that was mentioned earlier, the story went on to say. And Criminal action is also a definate possibility in some of these cases, according to statements made by the FBI.
All in all, there is indeed a plethera of blame to go around here (and i agree,it is a variety of causes really, and not all of them are really criminal in scope)
Last edited by aelusiveone, 6/20/2008, 11:54 pm
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3/30/2008, 8:55 pm
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