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☆ How to avoid getting scammed out of your home or becoming a victim of land fraud
▼ + stars: | 2023-09-27 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

Gordon isn't the only victim of this type of fraud — known as home-title fraud, land fraud, or seller-impersonation fraud — where scammers impersonate the rightful owner of a property by forging documents in order to sell it. Petrescu and Gordon share a few measures property owners can implement to help stop land fraud from happening to them. That may seem like an obvious one, but for a vacant piece of property, owners might forgo that extra security. He used the same title company to buy the land and to refinance it a year later. "Here we have the same title company that I used, and now the fraudster's using the same title company," Gordon said.

Persons: —, William Gordon's, Gordon isn't, scammers, Daniel Kenigsberg, Victor Petrescu, Levine Kellogg Lehman Schneider, Grossman, " Petrescu, Petrescu, Gordon, William Gordon William Gordon Another, there's, hadn't, Victor Petrescu Levine Kellogg Lehman Schneider, he'll Organizations: FBI, MLS, Service Locations: Arizona, Tucson, Fairfield , Connecticut, Miami, Petrescu, Pima County , Arizona

☆ Real-estate crowdfunding is a house of cards. PeerStreet's bankruptcy reveals why.
▼ + stars: | 2023-09-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +21 min

Like many PeerStreet investors who spoke with Insider, Mincher has a strong résumé. Another form of crowdfunding, equity crowdfunding, works a bit like the stock market without the onerous and expensive process of initial public offerings. The PeerStreet investors who spoke with Insider said the outcome of this case could determine whether they stick with real-estate crowdfunding. Others, such as Fundrise, have moved away from crowdfunding in favor of a model for private real-estate investment trusts, similar to the BREIT later offered by Blackstone. Fritton, the former Patch of Land CEO, said Fundrise's fund model was the wave of the future for real-estate crowdfunding.

Persons: Michael Burry, Christian Bale, Burry's, Crowdfunding, Burry, Andreessen Horowitz, they're, Braun Mincher, PeerStreet, who've, Judge Laurie Selber Silverstein, Brew Johnson, he's, Braun, Mincher, —, it's, Michael Burry Astrid Stawiarz, Ian Ippolito, Ippolito, John McNellis, PeerStreet Ippolito, McNellis, El, Marc Andreessen, Phil McCarten, Silverstein, wouldn't, Sean Quinn, Doug Lyon, Lyon, that's, Jason Fritton, Kirk Brett, there's, Brett, iFunding, CrowdStreet, Nightingale's Elie Schwartz, Nightingale, Schwartz, Yieldstreet, Fritton Organizations: CNBC, Main, PeerStreet, Facebook, McNellis Partners, Funding Trust, Fairfield University, Magnetar, Adler, Securities and Exchange Commission, Department of Justice, Securities, Exchange Commission, SEC, Investors, Blackstone Locations: Delaware, El Segundo , California, crowdfunding, There's

☆ More unmarried couples are buying houses together. A lawyer explains how to protect yourself in the event of a split.
▼ + stars: | 2023-09-12 | by ( Kelly Burch | ) www.businessinsider.com time to read: +6 min

Today, 18% of first-time buyers are unmarried couples, the National Association of Realtors found. Because of that, unmarried buyers need to take extra care to protect themselves and their finances before jumping into joint home ownership, Fiffik said. "For unmarried people buying a property, there are no laws or rules that govern what happens when that relationship breaks up," he said. Get honest about your financesBefore you even consider buying a home together, Fiffik suggested getting very honest about your finances. But unmarried couples have a few options when it comes to official ownership of the home, Fiffik said:Only one partner is on the deed and mortgage .

Persons: homebuyers, Mike Fiffik, Fiffik, homeownership, —, they're, you've Organizations: NAR, Service, National Association of Realtors, Fiffik Law Locations: Wall, Silicon

The U.S. dollar index was 0.097% higher on the day at 103.56, after hitting a two-month high of 103.59. The greenback has drawn support from a recent run of U.S. economic data reinforcing the view that interest rates will remain high for some time. The Australian dollar was last 0.44% lower at $0.64, having tumbled more than 0.9% to a trough of $0.6365 following the employment data release. The Norwegian crown rose from six-week lows against the dollar and the euro on Thursday after Norges Bank raised interest rates, as expected, and said it was likely to hike again in September. Against the dollar , the Norwegian crown was last up 0.22% to 10.60, having hit 10.66 earlier in the session.

Persons: Dado Ruvic, Adam Button, it's, Kathy Lien, Sterling, BoE, Hannah Lang, Joice Alves, Rae Wee, Angus MacSwan, Kirsten Donovan, Alexandra Hudson, Sandra Maler Organizations: REUTERS, Rights, Federal Reserve, Investors, U.S, Fed, Bank of Japan, Zealand, Norges Bank, Bank of England, Thomson Locations: Norwegian, Washington, London, Singapore

☆ WeWork could head to the scrapyard of American dreams. There's a stark warning in there for AI.
▼ + stars: | 2023-08-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

WeWork's rise and fall offers a stark warning for the AI era. Companies racing for glory in the AI era would do well to learn from the over-exuberance in the WeWork saga. Since the launch of ChatGPT last year, private tech investors have abandoned their temporary pullback in startup investment to throw money at almost any company with AI in the name. ChatGPT's creator OpenAI has bagged billions of dollars from Microsoft, while venture capitalists announced $10.7 billion of generative AI startup deals in the first quarter of the year, per data firm Pitchbook. But equally, investors would be wise to learn from WeWork and look under the hood of any AI firm claiming it will fundamentally alter any market.

Persons: OpenAI, Adam Neumann, Jackal Pan, Getty Images Neumann, –, It's, Sam Hogan Organizations: Microsoft, Visual China, Getty Images Locations: American

☆ Clarence Thomas purchased his luxury RV with the help of a wealthy former healthcare executive: NYT
▼ + stars: | 2023-08-05 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Supreme Court Justice Clarence Thomas purchased a $267,000 RV with the help of a wealthy friend. A spokesperson for the Supreme Court did not immediately respond to a request for comment. In a statement to the Times, Welters said he had provided Thomas a loan so he could buy the RV. But Welters refused to say how much money he had lent the Supreme Court justice, nor on what terms. The revelation comes amid a push to impose new ethics requirements on Supreme Court justices.

Persons: Clarence Thomas, Thomas, Anthony Welters, Welters, Barack Obama, Ginni, —, Reagan, Beatrice, Obama, Harlan Crow, Sen, Dick Durbin Organizations: The New York Times, Service, Supreme, New York Times, Times, Historical Society, Illinois Democrat Locations: The, Wall, Silicon, America, Illinois

☆ All eyes are on Bank of Japan with a possible midnight meeting
▼ + stars: | 2023-07-27 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAll eyes are on Bank of Japan with a possible midnight meetingKathy Lien, BK Asset, joins 'Fast Money' to discuss the Bank of Japan with CNBC's Melissa Lee and the Fast Money traders.

Persons: Kathy Lien, CNBC's Melissa Lee Organizations: Bank of Japan, BK, Fast Money

☆ Student-loan borrowers could be waiting over a year for Biden to implement his new plan for broad debt relief
▼ + stars: | 2023-07-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Biden is going through negotiated rulemaking to implement his new student-debt relief plan. It recently took his Education Department 15 months to go through that process. The law says the Education Department can "enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand" related to federal student debt. That process has historically taken a long time, meaning that the new attempt at broad student-debt relief may not arrive for a while. Of course, the timeline for this new plan for student-debt relief could be quicker, and Education Department officials have said they will work as fast as they can under the process to get relief to borrowers.

Persons: Biden, Joe Biden's, Education James Kvaal Organizations: Department, Service, Education Department, Higher, Biden overreached, Federal, Education, guaranty, servicers, Federal Register Locations: Wall, Silicon

☆ Carvana shares surge on plans to cut debt load
▼ + stars: | 2023-07-19 | by ( Nathan Gomes | ) www.reuters.com time to read: +4 min

Companies Carvana Co FollowJuly 19 (Reuters) - Carvana (CVNA.N) shares soared as much as 43% on Wednesday after the troubled used-car retailer struck a deal with most of its term bondholders to cut its outstanding debt by more than $1 billion. Carvana had long-term debt of $6.54 billion as of June end, relatively unchanged from a year earlier. But Carvana has been struggling to sell cars acquired at elevated prices as buyers, hit by inflation and worried about a recession, cut spending. Carvana shares have lost 87% of their value in the past two years. In premarket trading on Wednesday, Carvana's shares rose as high as $57, in what traders said looked like a short squeeze.

Persons: John Zito, Carvana, Ernest Garcia's, Carvana's, Ortex, they're, Dennis Dick, Nathan Gomes, Bansari Mayur, Shivansh, Raechel, Medha Singh, Sriraj Kalluvila, Saumyadeb Chakrabarty, Anil D'Silva Organizations: Triple D, Carvana, Thomson Locations: Bengaluru

☆ Carvana enters deal to cut debt by $1.2 bln, shares surge
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

"Apollo is pleased to support this debt exchange agreement, which stands to significantly strengthen Carvana's financial position while providing creditors with new first lien debt," John Zito, Apollo's Deputy CIO of credit, said in a statement. But the company has been struggling to sell cars acquired at elevated prices as buyers hit by inflation and worried about a recession cut spending. Carvana's shares have lost 87% of its value in the past two years. The company also posted a core profit of $155 million, compared to a loss of $216 million in the year-ago quarter. Reporting by Nathan Gomes in Bengaluru; Editing by Shweta Agarwal and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: John Zito, Carvana's, Nathan Gomes, Shweta Agarwal, Sriraj Organizations: Bloomberg News, Apollo Global Management, Pacific Investment Management, Thomson Locations: Bengaluru

☆ Biden's administration just kicked off the process to get student-loan forgiveness to millions of borrowers, vowing to 'work as quickly as possible under the law'
▼ + stars: | 2023-07-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department on Tuesday held its first public hearing on its new student-debt relief plan. It comes after the Supreme Court struck down Biden's first route for debt relief in June. Biden is attempting to use the Higher Education Act of 1965, which will take longer than the first plan. We will help as many borrowers as possible, and we will work as quickly as possible under the law." "Taxpayers just got sucker punched – again – by this administration," top Republican on the House education committee Virginia Foxx said after Biden announced the new plan for relief.

Persons: Biden, Joe Biden's, Education James Kvaal, Kvaal, –, Virginia Foxx Organizations: Department, Service, Education Department, Higher, Education, Democratic, Republican, Taxpayers Locations: Wall, Silicon

☆ Student-loan borrowers can tell Biden what they want from his new debt relief plan. Here's how.
▼ + stars: | 2023-07-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan borrowers have a few days left to submit comments on Biden's new debt relief plan. Biden is beginning a new process for relief after the Supreme Court struck down his first plan. On June 30, the Supreme Court struck down Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Anyone can submit a comment on the federal register through July 20 regarding anything they want the department to consider related to its new debt relief plan. Along with the opportunity to submit public comments, the Education Department is holding the first public hearing on the new debt relief plan on Tuesday.

Persons: Biden, didn't, Joe Biden's, —, Bharat Ramamurti, Education James Kvaal Organizations: Service, Education Department, Higher, National Economic Council, Education Locations: Wall, Silicon

☆ A 55-year-old retired police officer explains how she rebuilt her credit after filing for bankruptcy — and has done over 20 real estate deals, from flips to long-term rentals
▼ + stars: | 2023-07-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +13 min

Still, she's managed to do more than 20 real estate deals, from flips to long-term rentals. Dipping her toe into investing and learning from the 2007 housing market crashStroud's introduction to real estate investing wasn't a smooth one. "My very first real estate interaction was a failed one," she said. "During the 2007 real estate crash, values dipped everywhere but our property didn't dip as low as others did. Courtesy of Brenda StroudLater that year, around December 2020, Stroud took an online real estate investing course for $17 offered by the Women's Real Estate Investors Network (WREIN) after seeing an advertisement on Facebook.

Persons: Brenda Stroud, she's, Stroud, Brandon, She's, she'd, that's, hadn't Organizations: Prince, United, Tuskegee University, Tuskegee, Stroud, Estate Investors, Facebook Locations: Prince George's County, Maryland, Georgia, Stroud, Tuskegee , Alabama, Washington , DC, Fort Washington , Maryland, Baltimore, Snellville , Georgia, Tuskegee, United States, WREIN

☆ Meet a student-loan borrower with $101,000 in debt who doesn't have 'any hope' with Biden's new plan for loan forgiveness: 'I'm never going to be able to pay it down'
▼ + stars: | 2023-07-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Jarrett, 38, has $101,000 in student debt and was hopeful for Joe Biden's loan forgiveness. He told Insider he didn't think Biden's new plan for relief would deliver for borrowers. For years after graduating, he struggled to find steady employment and placed his initial student-loan balance of about $60,000 on forbearance. "I'm never going to be able to pay it down," Jarrett told Insider. And I certainly don't think that what he's doing now is going to address the issue either."

Persons: Jarrett, Joe Biden's, Jarrett —, —, doesn't, I'm, I've, Biden, Jarrett isn't, Alexandria Ocasio, Ro Khanna, he's Organizations: Service, Education Department, Higher, Democratic, CNN, Biden Locations: Wall, Silicon, Alexandria, Cortez

☆ Student-loan borrowers who qualified for the first debt relief plan are not yet guaranteed relief under Biden's new route
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden is planning to cancel student debt under a new law after the Supreme Court struck down his first plan. He'll use the Higher Education Act, which requires hearings and public comment. The Higher Education Act states that the Education Department can "enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand" related to federal student debt. Given the new standards surrounding the Higher Education Act, it's not yet guaranteed that the same borrowers who benefitted from Biden's first proposal will qualify for the president's new plan. "However, the Secretary has directed his staff to explore policy options for debt relief that will help as many people as possible."

Persons: Biden, —, Joe Biden's, It's, Miguel Cardona, it's, Bharat Ramamurti, Cardona, Alexandria Ocasio, Cortez, Ro Khanna, SCOTUS, Khanna Organizations: Service, Higher, Education Department, Education, National Economic Council, New York Rep, CNN, Twitter Locations: Biden's, Alexandria

☆ Biden just took the first step to cancel student debt using a different law after the Supreme Court struck his first plan down — but it'll take 'longer' this time
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

He's beginning the process of using the Higher Education Act of 1965 for relief. On Friday morning, the Supreme Court ruled Biden's initial plan to cancel up to $20,000 in student debt was an overreach of authority under the HEROES Act of 2003. The Education Department filed a notice on Friday to begin the regulatory process of using the Higher Education Act of 1965 to cancel student debt, which does not require relying on a national emergency. The Higher Education Act states that the Education Department can "enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand" related to federal student debt. "Despite this legally unsound Supreme Court decision, the President has the clear authority under the Higher Education Act of 1965 to cancel student debt.

Persons: Biden, —, Joe Biden, I'm, Vermont Sen, Bernie Sanders Organizations: Higher, Service, Education Department, Democratic, Biden Administration Locations: Vermont

☆ ‘No Hard Feelings’ Review: How Lucky Can a Nerdy Kid Get?
▼ + stars: | 2023-06-21 | by ( Glenn Kenny | ) www.nytimes.com time to read: +1 min

The premise that motors “No Hard Feelings,” a new comedy directed by Gene Stupnitsky, is, if not outright indecent, at least a little crass. Via online advertisement, Laird and Allison, megawealthy Montauk residents, are seeking an attractive woman in her early 20s to deflower their socially awkward Princeton-bound son, Percy. Taking up the offer is Jennifer Lawrence’s Maddie, a lifelong Montauker who’s increasingly resentful of the rich folk taking over her town. She’s 32 and a little too old for the gig, but she’s a knockout — as mentioned, she’s played by Lawrence — and has a canny sales pitch. Assigned to “date date” the puppy-cute but initially highly recessive 19-year-old Percy, she goes after her prey with an aggressiveness that’s initially off-putting to the lad.

Persons: Gene Stupnitsky, Laird, Allison, Percy, Jennifer Lawrence’s Maddie, who’s, she’s, Lawrence —, Maddie isn’t, that’s Locations: Montauk, Princeton

☆ Anthony Bourdain died 5 years ago. Here's 5 ways he helped reshape the food industry.
▼ + stars: | 2023-06-10 | by ( Ryan Hogg | Nathan Rennolds | ) www.businessinsider.com time to read: +5 min

Anthony Bourdain was a maverick chef who helped change the food industry. Here are five ways Bourdain changed the way many people eat and think about food. Here's how he helped change the restaurant industry and the way we eat. Don't eat fish on a MondayIn "Kitchen Confidential," Bourdain appeared to expose a common money-making ploy in the restaurant business — often at the expense of the customer. It's unclear if his advice affected fish consumption in New York restaurants on Mondays.

Persons: Anthony Bourdain, Bourdain, —, Bourdain's, Barb Stuckey, Barack Obama, Bun, Lien, Jim Watson, Patrick Radden Keefe, Alan Richman, Keefe, Richman, CNN Bourdain, KF Seetoh Organizations: Service, Travel, CNN, Forbes, The Food Institute, GQ, Singaporean hawker Locations: New York, America, Vietnam, Hanoi, New York City, Manila, Singaporean, Singapore

☆ Investors accused the owner of a mall in Illinois of using their cash to buy two jets and fund a lavish birthday party for his dog
▼ + stars: | 2023-05-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

An Illinois mall owner is being sued by his investors over mismanagement of funds. The investors say the mall owner used their cash to fund his life of luxury. It also alleges that investors haven't received dividend payments since 2019. None of the company's more than 2,000 investors have received dividend payments since August 2019, and some haven't received payments since 2011, it said. In the summer of 2022, they threw such a six-figure party, flying in friends and family on their private aircraft.

Persons: haven't, —, Jonathan Larmore, Belleville , Illinois –, Larmore, Arciterra Organizations: Service, Bloomberg, Cessna, Gulfstream, Boston Terrier Locations: Illinois, Belleville, Belleville , Illinois, Indiana, Milwaukee

☆ The homeowner basics of financing solar power for residential real estate
▼ + stars: | 2023-05-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +11 min

There are a host of complicated issues in the solar market, including some contentious politics. Last year, the growth of residential solar in the U.S. boomed. It won't repeat that in 2023, but will remain a large part of the solar market. Ohio, for example, has a state program that offers a reduced rate on a solar loan with certain lenders. GoodLeap (26% of the residential solar market) was No.

May 19 (Reuters) - AIP Capital, the aviation asset management arm of 777 Partners, plans to invest up to $200 million in small and medium aerospace suppliers by the end of next year, at a time when the lower rungs of the supply chain are facing financial difficulties. The investments may include a first lien loan, and a single investment will range between $10 million and $30 million, AIP Capital Managing Partner Mathew Adamo told Reuters in an interview. AIP, which was launched earlier this week, has entered into a servicing agreement with 777 Partners to manage all commercial aircraft owned by the private-equity firm. Stamford, Connecticut-based AIP said supply chain investments would focus on companies in developed countries. It is targeting to raise $300 million to $500 million by the end of this year overall for private credit investments.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ The market anxiety that reduced consumer spending is starting to ease, strategist says
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market anxiety that reduced consumer spending is starting to ease, strategist saysKathy Lien of BK Asset Management says the market is overly aggressive in its expectations for the U.S. Federal Reserve to start lowering interest rates.

☆ There's another legal route Biden can use to cancel student debt, and the Supreme Court's latest move shows the justices could be open to it
▼ + stars: | 2023-04-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

The Supreme Court rejected an appeal to halt debt relief for borrowers who say they were defrauded. The Higher Education Act has been floated as another way for Biden to pursue his debt-relief plan. The Supreme Court is already considering whether Biden's plan to cancel up to $20,000 in student debt for federal borrowers is legal. Activists and students protest in front of the Supreme Court during a rally for student-debt cancellation in Washington, DC, on February 28. Still, along with the lawsuits against broad debt relief, the payment pause is also being challenged — leaving millions of borrowers in financial limbo.

☆ Cineworld looks to raise $2.26 billion to emerge from bankruptcy
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

April 2 (Reuters) - Cineworld Group Plc (CINE.L) is planning to raise $2.26 billion, according to a court filing on Sunday, as the theater chain aims to emerge from Chapter 11 bankruptcy in the first half of 2023. The fundraising will consist of a first lien senior secured debt credit facility of $1.46 billion and issuance of new common stock for an aggregate purchase price of $800 million, according the filing with the U.S. bankruptcy court in the Southern District of Texas. Cineworld filed for U.S. bankruptcy protection in September to try to restructure its debt after being hit by the pandemic and a lack of blockbuster movies. The proceeds of the capital raising will be used to meet costs and expenses relating to the restructuring, and also to pay fees, other expenses and provide working capital to reorganized debtors, according to the filing. Reporting by Maria Ponnezhath in Bengaluru; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

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