distressed properties

New Twist on an Old Law Offers Underwater Homeowners Hope

Governments have long used eminent domain to seize private property for projects in the "common good" -- often to the dismay of the owners. But now, two California cities want to use it to help get besieged homeowners out of their underwater mortgages.

The Housing Mess Hits One New York Town Hard

In some parts of the U.S., the real estate market remains deep in recession. But even with housing prices sitting at multi-year lows, millions of houses remain empty, unable to attract buyers haunted by unemployment and a weak economy. As part of a new series, Ghost Towns of the Great Recession, DailyFinance takes a look at one town near New York City that is still struggling with the effects of the great real estate bust.

Colony Capital Group Wins Bidding for FDIC Distressed Loans

A joint venture between Tom Barrack%u2019s Colony Capital LLC and Cogsville Group LLC won the bidding for a portfolio of distressed real-estate loans auctioned off by the Federal Deposit Insurance Corporation. The two companies will purchase a 40% stake in a $1.85 billion portfolio of commercial-property loans held by now-defunct banks such as Community Bank of Nevada and New Frontier Bank, The Wall Street Journal reported. The deal, due to be announced today, is the second-largest bulk sale of commercial-property debt under a public-private partnership.

Tips on buying a bank-owned home

banl owned signWith more and more "distressed" (foreclosed) homes up for sale, a bank-owned home may be the way to go if you are considering buying a house.

But...