UK Government Policy Likely To Increase Bank Repossessions

Over the last three months we have heard nothing but bad news concerning the UK recession and with the conservative/lib dem government’s economic blinkers firmly in position, it’s anticipated that there will be a much higher rate of bank repossessions in the future as we nose-dive into an almost certain double dip recession. Today’s reports […]

Luxury homes for sale in Las Vegas

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Ouch! The president of the “Luxury Homes Group,” a Las Vegas- based luxury real estate company has just listed his 6,600+ sqft home for sale on Innisbrook Avenue for $1.299 million. Mr Morco Kozlowski paid $2.3 million for the property back in 2006, and the property was foreclosed upon in March for $1,45 million, which […]

Most Expensive Foreclosure in Chicago

A home in Barrington Hills has earned the dubious distinction of “Chicago’s most expensive foreclosure.” The home in question previously earned the title of “Chicago’s most expensive home sale,” in 2006. Three years and one financial crisis later and the owner’s have defaulted on the loan. Horizon Farms estate at 311 Algonquin Road was purchased […]

Most Expensive Foreclosure of 2009 – So far

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Melville House, in Fife near Edinburgh, Scotland has been awarded the dubious honor of Scotland’s “most expensive foreclosure sale,” becoming one of the most expensive bank owned properties in the UK. (Private residences that is. ) It may possibly be the most expensive foreclosure in the world, although I am open to information otherwise and […]

More bad news for the Tamarack ski resort

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The financially-troubled Tamarack ski resort development faces yet another issue as Bank of America threatened to remove two ski lifts when lease payments fell into arrears. Bank of America started foreclosure proceedings on a three building conference centre, and Stirling Bank started similar proceedings on an employee housing facility. There are sheriff’s sales scheduled for […]

Trump has competition for McMahon’s house

Ann Brenoff has posted on the LA Times blog that the Donald Trump-Ed McMahon deal may not go through, as The Donald now has competition to buy the place. The listing agent reports that an anonymous second buyer has shown up. Interesting. We thought the listing agent went to New York to ask Trump to […]

Donald Trump to buy McMahon home

Well what do you know? It looks like Donald Trump has stepped up to rescue Ed McMahon from foreclosure. And none too soon, it appears. We saw in the LA Times today that Trump has agreed to buy the McMahon home, and he’ll allow McMahon and his wife to continue to live there. As we […]

Ed McMahon drops home price again

Ed McMahon is still desperately trying to sell his Beverly Hills home. In fact, he just recently dropped his asking price by $1,900,000. That’s a big reduction by anyone’s standards. As we previously mentioned, McMahon is trying to avoid foreclosure by Countrywide. In June, it was reported that McMahon was $644,000 in arrears. And since […]

Ed McMahon Faces Foreclosure

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It looks like Ed McMahon faces foreclosure on his 7,013-square-foot Beverly Hills home. Countrywide Financial Corp. is starting proceedings due to McMahon’s reported $644,000 past due. As we mentioned previously, McMahon’s home has been on the market since July 2006. He has lowered the price from $7.7 million down to $5.7 million. McMahon broke his […]

Jose Canseco Lets House Go Into Foreclosure

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We don’t think you hear about this too often. Mostly we read about celebrities and their fabulous digs, fancy decorators and amazing properties. But once in a while, a celebrity hits hard times or maybe just decides that something is a losing investment. And this time, it’s Jose Canseco. Canseco, who admitted to using steroids […]