MARYLAND HAS NO CANDIDATES IN THE RACE FOR ATTORNEY GENERAL THIS ELECTION WHO WILL INVESTIGATE AND PROSECUTE CORPORATE AND BUSINESS FRAUD. PLEASE WRITE TO MICHAEL GREENBERGER WHO ADVOCATES FOR RULE OF LAW AND CORPORATE ACCOUNTABILITY TO RUN FOR MARYLAND STATE ATTORNEY GENERAL!
We attended RENT COURT in Baltimore today to shout loudly to the courts and one specific landlord....SAGE MANAGEMENT ...that the people are watching you. We know this business is openly defrauding its tenants by assessing excessive fees and adding costs to rents to boost those fees. When the tenant falls behind they are eventually evicted with much more debt than they should have. The judge noted that the courtroom was filled with people supporting these tenants and strangely enough.....none of the judgements filed by SAGE MANAGEMENT were allowed. They were dismissed as not meeting the terms of law. Now this landlord has been operating in this fashion for years and people come through that court unable to get justice so it shows how this group of dedicated activists working for Housing Justice are making headway.
WE NOW NEED TO SUE FOR FRAUD THIS LANDLORD FOR PAST TENANTS WHO WERE FLEECED AND SENT PACKING AND SEND HIM TO JAIL FOR FRAUD.
I was walking to this action and passed a tenant coming from a newly opened 'luxury' apartment near my house. I asked her how she liked the apartment....fine she said....then I asked her about the management corporation handling the building and her face went cold. THEY ARE NOT A GOOD BUSINESS WITH WHICH TO DEAL.
Don't think that low-income people are the only ones who view their landlords with contempt. Below you see a Real Estate Management Corporation licensed out of NY with branches reaching to several states and as we see Baltimore, Maryland. Take a look when it incorporated.....2007 just in time for the massive economic collapse and housing foreclosures. It seems they arrived just in time to scoop up all kinds of real estate at bargain prices. We know they are not landlords people will be able to hold accountable since they are based in NY. Red Canyon Properties are just that kind of landlord I have been writing about that was set up to buy those bundles of foreclosures and stressed real estate created by the massive subprime loan fraud and I bet if we were to see who owns this corporation it would be the same people who committed and became enriched the subprime mortgage fraud.
BALTIMORE DEVELOPMENT WELCOMES THIS REAL ESTATE FIRM WITH OPEN ARMS AND YOU CAN BET....NOTHING IT DOES WILL BE NOTICED.
Luxury apartments for Old Goucher
Land Bank Lofts debut in rehabbed bank building Posted: 7:00 pm Sun, March 14, 2010
By Robbie Whelan
Daily Record Business Writer
New York-based developer Red Canyon Properties opened its Land Bank Lofts project at the beginning of this month. Company officials say four units are already rented and occupied, and seven more are under contract.
Red Canyon Properties in Brooklyn, NY is a private company categorized under Real Estate. Our records show it was established in 2007 and incorporated in New York. Register for free to see additional information such as annual revenue and employment figures.
Redstone Properties, Inc. is a land development company that offers land for sale across the United States featuring waterfront and water access home sites and large tracts of land.
Maryland Renters Rights
April 1, 2011 Lisa Hughes Maryland Renters Rights, Renters Rights In Maryland, Renters Rights Maryland, Rights Of Renters
Maryland Renters Rights
All Marylanders who live in rented accommodations will be well advised to read up on some basic Maryland Renters rights. A good understanding of the most important Maryland Renters rights will allow a tenant to both perform their tenant obligations well and also protect themselves against unethical or shady landlords who will take any chance they get to take advantage of unsuspecting tenants. The write up below will go over the most important Maryland Renters rights that are intended to protect the tenant’s well being in a Renters contract.
Security deposit – Maryland Renters rights – Maryland Renters rights about security deposit are very well defined. A landlord is not allowed to charge more than two months of rent as a security deposit. Maryland Renters rights will also require that the landlord provide a receipt for the security deposit, failing which, he or she can be sued in court. Maryland Renters rights also entitle the tenant to be present for the inspection that is conducted once the tenant has left the apartment. Maryland Renters rights will also make the tenant eligible to receive a refund within a period of 45 days after vacating a certain rented property. It is also required that the landlord pay at least 3% interest on the security deposit that should have been held in a bank account created solely for the purpose of holding the security deposit.
Repairs – Maryland Renters rights – Maryland Renters rights will allow a tenant to make rent payments into what is called a rent escrow account if the landlord does not carry out repair work in a timely manner. This will give the tenant some leverage to speed up the repair process and also protect themselves from negligence on part of the landlord. Maryland Renters rights stipulate that all pressing repairs such as repair to appliances or repair to heating or plumbing facilities be carried out in a very timely fashion.
Right to a quiet enjoyment – Maryland Renters rights – If the tenant lives in a property that is surrounded by other tenants, it is the responsibility of the landlord to ensure that the entire Renters community is one that will allow a tenant to experience quiet enjoyment. Maryland Renters rights pertaining to quite enjoyment will mean that noise, odors, criminal activities or any other hindering disturbance should be eliminated or absent. If the landlord fails to provide an environment that is conducive to quiet enjoyment, Maryland Renters rights will allow a tenant to break the lease and carry out what is called a constructive eviction. This type of eviction will not hold the tenant obligated to any rent payments or damages as the landlord did not fulfill his basic responsibilities.
Evictions – Maryland Renters rights – Maryland Renters rights will protect the tenant against what is called retaliation from the landlords. For example, a landlord might not like the fact that a tenant has filed a complaint against them and might engage in retaliation by shutting off utility supplies or by changing the locks of a property. These types of actions are illegal and Maryland Renters rights will allow a tenant to seek remedial legal action against retaliating landlords.
Maryland Renters Rights - See more at: http://www.usarentersrights.com/maryland-renters-rights-2/2011/04/01/#sthash.AbxsADZw.dpuf
Now remember, it was Obama who started these huge bundling of foreclosures handing tracts of property off to one investment firm in the guise of helping to stabilize communities. Remember, these communities are unstable because these same investment firms committed subprime mortgage fraud to clear out the working class and poor from these same communities. We saw below that luxury apartments.....$1800 and up. As a manager in a pretty good company in Seattle I paid $1000 for an apartment looking out to the Puget Sound and Mt Rainier. The building above looks out at a empty lot.
All Obama had to do was to have the banks write off/down these bad loans and many of these foreclosures would never have happened. That wouldn't do....the purpose of the massive fraud was to move real estate into the hands of a few!
THEY ARE DELIBERATELY INFLATING PRICES SO THAT EVEN MIDDLE-CLASS FAMILIES FIND IT HARD TO RENT.
Fannie Offering Foreclosure Bundles to Investors
Wednesday, February 29, 2012 — Want to become a landlord in one of the nation’s hardest-hit foreclosure neighborhoods? Well, Uncle Sam has a deal for you.
Fannie Mae (FNMA, Fortune 500) will offer up nearly 2,500 distressed properties in eight locations to investors who are willing to buy them in bulk and rent them out for a set number of years.
Uncle Sam wants you to rent out its foreclosed homes
Why the mortgage settlement is a fair deal
Million-dollar foreclosures rise as rich walk away
The other foreclosure settlement: Millions of homeowners eligible
Foreclosures climbed in January
The properties, which are located in Atlanta, Phoenix, Las Vegas, Los Angeles/Riverside, and three Florida regions, include all types of housing units, from single-family homes to co-op apartment buildings.
“This is another important milestone in our initiative designed to reduce taxpayer losses, stabilize neighborhoods and home values, shift to more private management of properties, and reduce the supply of REO properties in the marketplace,” said Edward J. DeMarco, the acting director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae.
Steal this home! 7 foreclosure deals
The sales, which will cover a small fraction of the more than 180,000 properties Fannie and Freddie Mac (FMCC, Fortune 500) hold, will be open to qualified buyers under strict guidelines.
Most of the properties already house tenants and buyers will be required to continue to rent out the properties to them for as long as their leases last. Investors will also be required to rent the properties out for a specified number of years. The exact number of years has yet to be disclosed.
Investors must post security deposits in order to bid and also must prove that they are financially stable, have property management experience and have strong ties to the local community, such as a history of working with local development organizations.
FHFA said that bidders must purchase all of the homes that are for sale in a given metro area. In Atlanta, that’s as many as 572, while in Chicago it’s 99.
Despite the fact that the strict requirements could limit the number of applicants seeking to invest in the properties, the government agencies have said there is strong interest in the program. FHFA said it has received more than 4,000 responses to a request for public input on how best to dispose of the vast number of homes Fannie and Freddie Mac (FMCC, Fortune 500) have acquired from borrowers who defaulted on their loans.
Real estate consultant John Burns said there should be no problem at all finding buyers.
“I’ve got three or four clients myself, maybe more, who will bid on every one of those portfolios,” he said.
Burns believes the sales should help bolster the housing market. By taking these distressed properties off the market, it will prevent them from further weighing on home prices in surrounding neighborhoods, said Burns. It will also add to the rental property inventory, which should help offset recent rent hikes.
And, by filling up what otherwise could be vacant homes, it should also reduce blight. Vacant homes attract vandals and criminals, which reduces property values and make it more likely that other nearby homeowners will walk away from their mortgages.
Multi-million dollar foreclosures
“We believe that this initiative holds promise for providing support to local neighborhoods that were especially hard hit by the housing crisis and will help meet the rising demand for rental housing in many communities,” said Michael Stegman, a housing finance advisor at the Treasury Department.
FHFA will not say when the first sale is expected to go to contract. Given that it is a complicated process that includes analyzing and comparing bids, it will probably take a couple of months before any final buyers are selected.
How Your Mortgage Is “Bundled” July 3, 2011 by Alan Kauth · A Foreclosure Alternative
This is a simplified graphic of how mortgages were bundled and sold. What’s interesting is that if you remember when the “TARP” funds were distributed, we “fixed” these garbage packages that were sold all over the world. People complain that we could have literally given every mortgage holder in the US money to help pay down their loan and “solve” the mortgage problem. But that would have meant that all of the banks and investors all over the world would still be holding garbage investments. In effect, the FED tried to help mitigate damage to other banks outside the US so that they wouldn’t feel “stung”.
This is a simple graphic on how mortgages got bundled and then sold off into tranches. Click on the graphic to see it full sized.