Laws & Taxes
Former Johnston Woman Pleads Guilty to $1.7 Million Mortgage Fraud Scheme
October 5, 2009 Posted by Rhode Island RealEstateRama
Boston, MA - October 2, 2009 - (RealEstateRama) — Lisa Torres, 40, formerly of Johnston, pleaded guilty today to a $1.7 million mortgage fraud scheme in which she purchased properties that had recently been foreclosed upon, and then used the names of straw purchasers in sham sales to finagle mortgage financing.
Legislation closing loophole in hurricane insurance rules signed into law
June 25, 2009 Posted by Rhode Island RealEstateRama
Providence, RI - June 25, 2009 - (RealEstateRama) — Legislation approved by the General Assembly — to close a loophole in state law regulating hurricane insurance deductibles – has been signed into law and will, according to the bills’ prime sponsors, correct language that could have proved unnecessarily costly to Rhode Island homeowners.
RI Housing Project for Low-Income Seniors Honored
June 12, 2009 Posted by Rhode Island RealEstateRama
CHICAGO - June 10, 2009 - (RealEstateRama) – A Rhode Island affordable housing development designed to meet the needs of low-income seniors in and around North Smithfield has been recognized as one of the top projects in the country.
Defendant Pleads Guilty to Wire Fraud Relating to Mortgage Fraud Scheme
June 10, 2009 Posted by Rhode Island RealEstateRama
Boston, MA - June 9, 2009 - (RealEstateRama) – Pasquale Scavitti, III, age 46, resident of Cranston, Rhode Island, pleaded guilty today to Wire Fraud. Scavitti admitted that between 2003 and August 2008 he unlawfully diverted mortgage funds that were wire transferred into his client office account to his own personal benefit, resulting in losses in excess of $2.5 million.
$79 Million in Recovery Funds Released Today for Rhode Island Housing Assistance
February 28, 2009 Posted by Rhode Island RealEstateRama
WASHINGTON, DC - February 25, 2009 - (RealEstateRama) — U.S. Senator Jack Reed (D-RI) today announced that the U.S. Department of Housing and Urban Development (HUD) is making over $79 million available to Rhode Island through the American Recovery and Reinvestment Act of 2009.
Langevin Supports Housing Reforms
July 26, 2008 Posted by Rhode Island RealEstateRama
Warwick, R.I. - July 23, 2008 - Congressman Jim Langevin today again voiced his support for housing legislation that is designed to keep families in their homes and stabilize the housing market. Today’s legislation builds upon a similar bill passed by the House in May and now includes compromise language negotiated with the Senate, in addition […]
Bipartisan Economic Stimulus Plan Signed into Law
February 18, 2008 Posted by Rhode Island RealEstateRama
Warwick, R.I. -Â February 13, 2008 -Â Congressman Jim Langevin (D-RI) today praised the enactment of a bipartisan economic stimulus plan after President Bush signed the Recovery Rebates and Economic Stimulus for the American People Act. Approximately 500,000 Rhode Island families will receive tax rebates of up to $1,200 per couple, plus $300 per child, as early […]
Langevin Supports Bipartisan Economic Stimulus Plan
January 31, 2008 Posted by Rhode Island RealEstateRama
Warwick, R.I. - January 29, 2008 - Congressman Jim Langevin (D-RI) today voted for the Recovery Rebates and Economic Stimulus for the American People Act, joining an overwhelming bipartisan majority in the House of Representatives. This bill will help stimulate the economy, providing tax rebates to 400,000 Rhode Island households.
R.I. homeowners face phaseout of cesspools
August 8, 2007 Posted by Rhode Island RealEstateRama
Proposed tax hikes that would have made it more costly for people to sell real estate, obtain new mortgages or refinance existing ones failed to become law in Rhode Island this year, but Governor Carcieri has signed legislation that will affect one group of homeowners.
