Lehman Brothers' Art Collection For sale

Lehman Brothers’ impressive corporate contemporary art collection, which includes over 400 pieces, will be auctioned in the fall. The $10+ million collection is being auctioned to help pay back creditors of Lehman Brothers Holdings, Inc. According to Sotheby’s, the works of art, made by prominent artists including Damien Hirst, Takashi Murakami, Richard Prince and Julie […]

CA Senate Passes SB 1178, Extends Consumer Protection

Good news has come for consumers who refinanced their original mortgage loans and are presently facing foreclosure; the California Senate has approved SB 1178, which will extend anti-deficiency protection to these consumers. The CA Association of Realtors (CAR), sponsors the consumer protection legislation. CAR is one of the largest state trade organizations in the country. […]

Bill 155 Threatens to Make Bankruptcy Filing Difficult for CA Cities

Los Angeles and other financially hurt California cities have recently received some bad news in the form a bill, on its way to the Governor for approval. The bill was created to clamp down on municipal bankruptcy filings, and if approved, can make filing for Chapter 9 municipal bankruptcy very difficult. Assembly Bill 155 dictates […]

BOA Joins HOPE to Improve Assistance to Homeowners

Bank of America, this country’s biggest mortgage servicer, has recently joined HOPE LoanPort to use its propriety technology and partner with non-profit housing counselors in providing help to homeowners in their loan modifications. In doing so, BOA becomes the 11th mortgage servicer to join the HOPE LoanPort—others include PNC Mortgage, Bayview Loan Servicing, and GMAC. […]

Taxpayers Soon to Bailout Failing US Cities

Some down-and-out US cities are on the cusp of defaulting on their debt, which means financially encumbered states and taxpayers alike, will have to pay dearly. It was recently projected by the National League of Cities, municipal governments will most likely generate $56-$83 billion, between now and 2012, paying for decades of “binge spending.” Municipal […]

Rothstein Auction Generates over $5 Million

Scott Rothstein, the disbarred attorney and mastermind behind a Ponzi scheme worth roughly $1.2 billion, has recently had a second auction of his luxury cars and boats which brought in $5.8 million. An 87-foot yacht sold for $2.51 million. The former attorney, who used his law firm as a front while running his multi-billion dollar […]

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