Laws & Taxes

Laws & Taxes

State housing agency’s $48.6 million in housing tax credits to expand housing choices, support...

AUSTIN, TX - July 30, 2012 - (RealEstateRama) -- The Texas Department of Housing and Community Affairs (TDHCA) today announced it has allocated $48.6 million in housing tax credits to developers of affordable rental properties, helping increase housing choices for the state’s growing population of younger working families and senior citizens.

Attorney Alejandro Padua and His Team Solve a Complex Commercial Real Estate Issue

Houston, TX - November 14, 2011 - (RealEstateRama) -- Alejandro L. Padua, Esq., of Padua Law Firm in Houston, with his excellent drafting of real estate related contracts and related lawyering, together with his brother Antonio J. Padua, head broker of Padua Realty Company has significantly improved their client’s property cash flow.

State housing agency awards $39.5 million to boost housing options and local economies

AUSTIN, TX - August 3, 2011 - (RealEstateRama) -- The Texas Department of Housing and Community Affairs (TDHCA) today announced that it will finance the development of 38 affordable rental properties throughout the state that will combine an affordable rent with the aesthetic qualities of high-end developments. These properties will expand housing options for the state’s growing population of retirees and younger working families while generating a significant impact on the economy.TDHCA will provide $39.5 million in financing through the 2011 Housing Tax Credit Program allocation cycle, helping create an estimated 3,457 units of affordable rental housing designed to serve Texans earning no more than 60 percent of the area median family income.

Totally Disabled Veterans Property Tax Exemption Extended to Surviving Spouse

May 26, 2011 - (RealEstateRama) -- With only ten minutes remaining in the Texas House for consideration of non-local Senate Bills, Speaker Straus recognized Representative Bonnen for an important motion

NEUGEBAUER OPENING STATEMENT: AN ANALYSIS OF THE POST-CONSERVATORSHIP LEGAL EXPENSES OF FANNIE MAE AND...

February 15, 2011 - (RealEstateRama) -- Since September 7, 2008 the U.S. taxpayers have sunk $153 billion into Fannie Mae and Freddie Mac. And according to Federal Housing Finance Agency (FHFA) the final tab could be as high as $363 billion! As if the news couldn’t get any worse for the American people, an investigation undertaken by this Subcommittee has discovered that the taxpayers have spent more than $162 million defending Fannie, Freddie and their former top executives in civil lawsuits accusing them of fraud. This includes over tens of millions dollars for former executives who knowingly and purposefully manipulated earnings to increase their own compensation, and whose actions directly contributed to the demise of the GSEs.

Callegari Proposes Property Tax Appraisal, State Spending Caps

AUSTIN, TX - December 8, 2010 - (RealEstateRama) -- Texas State Representative Bill Callegari (District 132, Katy) announced the introduction of legislative packages to lower the state's spending cap and, separately, limit home property tax appraisals.

Brady Aims to Create a Better Environment for Local CRE Lending and Investment

Washington, D.C. - October 6, 2010 - (RealEstateRama) -- Concerned that federal bank regulators are making the challenges confronting America's commercial real estate sector worse, U.S. Congressman Kevin Brady (R-Texas) has introduced legislation to stabilize commercial mortgage lending and strengthen private investment in the commercial real estate market.

Fourth Member of Mortgage Fraud Enterprise Sentenced to 28 Years in Prison

CORSICANA, TX - July 21, 2010 - (RealEstateRama) -- The fourth member of a multi-county mortgage fraud scheme today pleaded guilty to a first-degree felony for his role in a multimillion dollar enterprise that defrauded government-backed mortgages.

Houston Man Pleads Guilty in Multi-Million-Dollar Mortgage Fraud Scheme

HOUSTON, TX - June 29, 2010 - (RealEstateRama) -- Adrian Levale Cole has pleaded guilty to committing wire fraud and false representation of a Social Security number arising from a $10 million mortgage fraud scheme, United States Attorney José Angel Moreno announced today.

Texas Residents Indicted in $3.7 Million Mortgage Fraud Scheme

HOUSTON, TX - April 9, 2010 - (RealEstateRama) -- Vincent Wallace Aldridge and Tori Aldridge, both of Fresno, Texas, surrendered themselves to federal authorities as a result of the return of a 19-count indictment arising from an alleged scheme to defraud residential mortgage lenders of more than $3.7 million

Real Estate Investor Ordered to Pay Over $4.1 Million in Restitution

SHERMAN, TX - April 1, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that a 38-year-old Grapevine, Texas, man has been sentenced to federal prison for his role in a mortgage fraud scheme in the Eastern District of Texas.

Congressman Al Green Helps Taxpayers File for Earned Income Tax Credit

EITC is a useful resource for low to moderate income working individuals and families Houston, TX - March 22, 2010 - (RealEstateRama) -- Today, Congressman Al Green (TX-09) sponsored and organized two town hall meetings to inform tax filers about the Earned Income Tax Credit, also known as EITC. Attendees met with Internal Revenue Service (IRS) representatives and tax preparation specialists who assisted them with filing their 2009 tax returns.

Forty Indicted in Major East Texas Mortgage Fraud Scheme

PLANO, TX - March 16, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas.

Jury Convicts Two in Multi-Million Dollar Mortgage Fraud Scheme

HOUSTON, TX - February 5, 2010 - (RealEstateRama) -- A federal jury found David Vasser, 61, a Houston area resident, and Shirely Adger, 52, a Dallas area resident, guilty of wire fraud and conspiracy to commit wire and mail fraud.

State housing agency providing lift to East Austin’s affordable rental market

AUSTIN, TX - January 25, 2010 - (RealEstateRama) -- The Texas Department of Housing and Community Affairs (TDHCA) has announced a funding award to help finance the redevelopment of an existing affordable rental property in East Austin that will allow the apartment complex to continue to provide low income tenants with decent, affordable housing while providing a shot in the arm to the local economy.

Mortgage and Real Estate Broker Sentenced to Prison for Mortgage Fraud

HOUSTON, TX - November 9, 2009 - (RealEstateRama) -- Clarence Lewis III, 46, of Houston, has been sentenced to 15 years in federal prison without parole for running a mortgage fraud scheme, United States Attorney Tim Johnson announced today.

U.S. Congressman Al Green praises passage of extension of unemployment benefits and tax credit...

Washington (DC) - November 5, 2009 - (RealEstateRama) -- Today the U.S. House of Representatives passed the Senate amendments to HR 3548, the Unemployment Compensation Extension Act by a vote of 403 to 12.

Attorney General Abbott Takes Legal Action Against Housing Scam That Targeted Austin-Area Hispanic Home...

AUSTIN, TX - October 28, 2009 - (RealEstateRama) -- Texas Attorney General Greg Abbott today charged Fern Hernandez Realty, Inc., with defrauding Hispanic home buyers. The state’s enforcement action names the corporation; its owner, real estate broker Jose Fernando “Fern” Hernandez and his wife, Odessa S. Hernandez.

Owner of Brownstone Construction Indicted for Mortgage Fraud

HOUSTON, TX - September 3, 2009 - (RealEstateRama) -- A 16-count sealed indictment charging Melvin Lendall Brown, the owner of Brownstone Construction, with wire fraud arising from an alleged multi-million dollar mortgage fraud scheme has been unsealed, United States Attorney Tim Johnson and FBI Special Agent in Charge Richard C. Powers announced today.

Former Dallas Cowboys Football Player, Eugene Lockhart, and Eight Others, Charged in Mortgage Fraud...

DALLAS, TX - September 3, 2009 - (RealEstateRama) -- A federal grand jury has indicted Eugene Lockhart, Jr., 48, a former player with the Dallas Cowboys, and eight others, on various charges related to a mortgage fraud scheme he and the others allegedly ran in the Dallas area from 2001 through 2005, announced U.S. Attorney James T. Jacks of the Northern District of Texas.

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Texas condominium sales up, townhome sales down during first half of...

Condominium sales in Texas’s major metro areas increased and townhome sales fell in the first half of 2016, according to the Texas Condominium Mid-Year Sales Report. Released today by the Texas Association of REALTORS®, the report shows that condominium sales in Texas’ four largest markets have seen increasing demand over townhomes and single-family homes among young professionals and retirees. This is the first time in the report’s history that condo and townhome statistics have been reported separately.

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Grant Awarded for West Texas Infrastructure Project

The Texas Department of Transportation (TxDOT) approved grant funding this week to repair the Presidio International Rail Bridge and South Orient Railroad, which extends from Presidio to San Angelo. With this funding, Presidio can continue serve as a pillar of Texas trade, benefitting both the border region and the State’s economy. U.S. Representative Will Hurd (R-Texas) championed this initiative to TxDOT and local officials to ensure the line’s rehabilitation and improved operations, and safety.