NJ Bill Would Force Banks to Maintain Foreclosed Homes

NJ Bill Would Force Banks to Maintain Foreclosed Homes
Towns would have a new tool for forcing banks to keep up the maintenance on vacant, foreclosed houses under a bill that passed a New Jersey state Senate committee Thursday. If the legislation becomes law, banks could be required to fix code violations …
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Courts Tie Up Foreclosures
Foreclosure rates stood at 6.6% in those "judicial" states in September, while they have dropped sharply to 2.4% in the "nonjudicial" states where banks face fewer hurdles to foreclosure. Foreclosures have always taken longer in states with judicial …
Read more on Wall Street Journal

Foreclosure cancellations surge in Golden State
The number of foreclosures canceled by banks surged 62% across California last month, the same month major mortgage servicers were required to comply with new rules outlined by this year's National Mortgage Settlement. Banks in the Golden State …
Read more on Los Angeles Times

New Proposed Bill Would Offer Temporary Visas for Foreign Residential Real Estate Investors

Article by Darren Silver

New Proposed Bill Would Offer Temporary Visas for Foreign Residential Real Estate Investors – Law – National, State, Local

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A new legislative bill introduced by Senators Charles Schumer (D-NY) and Mike Lee (R-UT) proposes to offer a temporary residency visa to immigrants who spend at least $ 500,000 on a home in the United States. This bill, which received bipartisan support, will soon be considered by the U.S. Congress as a new way to stimulate a struggling U.S. housing market.

While not the same as the noted EB-5 Immigrant Investor visa program, which offers a path to citizenship for foreign nationals who invest at least $ 500,000 in a U.S. business enterprise that leads to at least 10 full-time jobs for U.S. workers, the newly proposed housing bill will provide a new and novel method for foreign nationals to enter and remain in the U.S. through investment.

The U.S. housing market is currently struggling; this new, proposed bill may give a boom to this market. In areas of the U.S. especially hurt by the recession, such as South Florida, Southern California and Arizona, many foreign nationals are currently purchasing homes. Immigrants from China, Canada and other nations are now taking advantage of favorable exchange rates and reasonable real estate costs in these and other areas of the U.S. In fact, just over 5 percent of all homes bought in Miami in July 2011 were purchased by foreign buyers. In Phoenix, that number is just a bit lower, at 4.3 percent. For the year ending in March 2011, foreign buyers were responsible for up to $ 82 billion in investments in U.S. real estate properties, an increase from the $ 66 billion reported the year before.

Current market analysts see many advantages to the U.S. economy from the Schumer-Lee bill, if approved by Congress and the President. Under the proposed bill, immigrants will need to invest at least $ 500,000 in U.S. residential real estate. This can be a house, condo or townhouse. Applicants are given the opportunity to invest part of the required $ 500,000 on a single home and the rest on other residential real estate property, such as a rental home.

These investors would then be given temporary, three-year visas to enter the U.S. Under this particular visa, however, foreign investors will not be able to work. They will have to obtain other visas to be able to work while in the U.S. (such as the EB-5 Immigrant Investor Visa). Supporters of the bill believe it will help spearhead growth in the U.S. real estate market, which has been struggling since the housing market bubble burst earlier this decade.

The bill has received support from many high-profile individuals, including Warren Buffet who recently told Charlie Rose (of PBS) that, “If you wanted to change your immigration policy so that you let 500,000 families in, but they have to have a significant net worth and everything, you’d solve things very quickly.”

About the Author

Darren Silver – Darren Silver & Associates is one of the largest and most respected Immigration Firms in the Country. For over 15 years we have represented clients from around the world, including Professionals, large multinational corporations, small businesses, celebrities, athletes, and those individuals who require immigration assistance for their families.

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Darren Silver



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Darren Silver – Darren Silver & Associates is one of the largest and most respected Immigration Firms in the Country. For over 15 years we have represented clients from around the world, including Professionals, large multinational corporations, small businesses, celebrities, athletes, and those individuals who require immigration assistance for their families.












Use and distribution of this article is subject to our Publisher Guidelines
whereby the original author’s information and copyright must be included.

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Skywater Group Announces Skywater Exchange Platform for International Buyers and Sellers Who Would Consider Trading Real Estate, Jets or Yachts with Like Minded Owners


Fort Lauderdale, FL. USA (PRWEB) February 28, 2012

The Skywater Group (http://www.skywatergroup.com) announces the addition of Skywater Exchange service which markets assets of all three Skywater divisions – Skywater Jets, Skywater Estates and Skywater Yachts, whose owners would consider exchanging, trading or partially trading for other assets of like minded Sellers.

It offers another sales avenue and increases potential buyers, says Larry Morales, founder of the Group. prices have depressed since the market correction of 2008 and some Sellers see better value in trading or part exchanging their assets than selling for cash outright, although of course we still market these assets for outright cash sale as well!

The value of the program is that the Group, with dedicated professionals in all three disciplines, has the ability to cross promote and assess the valuations of other assets put forward for trade. I have a yacht client who would consider trading his US$ 5 million 116 luxury motor yacht for Florida or Moscow real estate states Kevin Ralph, President of Skywater Yachts and another yacht client who has listed their Florida 200 beachfront property with us http://www.skywaterestates.com/dreamlots, who would consider a jet trade, yacht trade or Colorado real estate in trade, they would even add cash for the right trade! he adds.

While not a new concept, Skywater Group is one of the few companies that are uniquely positioned to facilitate such transactions and markets internationally in all three sectors.

In other news, its been a busy start to 2012 for the Skywater Estates division, http://www.skywaterestates.com which put $ 2,000,000 in real estate under contract in January and have listed several $ 1+ properties.

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