A real estate investment exec and a real estate broker are allegedly at the center of the scam, in which four California mansions were leveraged for millions in ill-gotten gains
The decrease in application volume comes as both the refinance index and seasonally adjusted purchase index fell
The negative effects of the American housing bubble crisis are still being felt in residential neighborhoods across the United States. A recent report from the S&P/Case-Shiller housing price index shows that prices of single family homes in 20 metro areas fell 0.7 percent in November of last year, and 0.5 percent the next month. The S&P/Case-Shiller index is now at a record low level that was last seen in 2003, a crucial year in the history of the housing bubble.