April 2010

From an office at an Anaheim massage clinic, Blair Hanloh has recorded deeds on at least 12 vacant houses in Southern California that he does not own. Property records show no evidence that the owners deeded interest to him—and five [...]

VOLUSIA COUNTY, Fla. — One of the largest mortgage fraud cases the state has ever gone after is falling apart. Edward Traylor and his son Perry were facing 35 felony charges after prosecutors said they used a Volusia County church [...]

A state judge accused Emigrant Mortgage Co. of premeditated attempts to destroy an East Northport couple’s chances of keeping their home, ordering the lender to pay the borrowers $100,000 in damages and scrapping as much as $119,330 in questionable late [...]

April 21 (Bloomberg) — Mortgage servicers may have to take a pay cut to participate in President Barack Obama’s programs to modify home loans and advance the sale of properties in default. Starting this month, the Treasury Department is paying [...]

SAN DIEGO — A pair of San Diego brokers admitted Monday in Superior Court that they took part in a foreclosure-rescue scam and will relinquish their real estate licenses and serve three years’ probation. Benjamin and Gloria Hebron pleaded guilty [...]

Defaults on commercial mortgages bundled into securities are climbing to records, threatening bondholders with steeper losses and putting pressure on property owners and lenders to restructure their loans. According to Fitch Ratings, more than 11% of some $536 billion of [...]

CBS – The number of home foreclosure filings jumped by nearly 20 percent during the first quarter of 2010. Anthony Mason reports on this new wave of bank repossessions and its overall effect on the U.S. economy. Watch CBS News [...]

At first glance, this would seem to be a worthwhile public policy proposal. However, SB 1275 is nothing more than a litigation minefield that goes far beyond that goal, ignoring several years’ worth of collaboration among the financial services industry, [...]

PORTLAND, Ore. – Thousands of dollars have been returned to families that Oregon’s attorney general said were hurt in a scam that promised to save their houses from foreclosure, but the man who had to refund the money said he [...]

AUSTIN – Lawmakers say they have tried to write laws in recent years to prevent homeowners associations from gouging and abusing property owners, but more might need to be done. On Monday, outraged homeowners told a Texas House panel they’ve [...]

Fannie Mae’s economic and mortgage market analysis group said Monday that the housing market is stabilizing but that excess inventory continues to hinder a recovery.

The Florida case, U.S. Bank v Ernest Harpster, was dismissed last month by Judge Lynn Tepper of Pasco County after she found that an “assignment of mortgage” filed in the case, which was meant to show how U.S. Bank obtained [...]

According to realtytrac.com, foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter [...]

Don’t despair. That’s the message from one nonprofit head to borrowers who’ve been rejected by the federal loan modification programs. Faith Schwartz, executive director of Hope Now, an alliance of mortgage industry, nonprofit and government players, worries that distressed homeowners [...]

(CBS)   Scam artists preying on families about to lose their homes. And the number of vulnerable homeowners keeps rising. In this year’s first quarter, the foreclosure rate surged 35 percent, according to RealtyTrac Inc.

Fox Business – Expert: Good Value in Second Mortgages: Further Lane Sec. Senior Managing Director David Castillo weighs in on mortgage debt. Watch the latest business video at video.foxbusiness.com

Please watch this video to understand what banks are doing with mortgages and in the commercial real estate market. There is a saying in the banking industry that they call a “rolling loan.” Hence, a rolling loan gathers no loss. [...]

MIAMI BEACH, Fla. (WSVN) — Hundreds of people are waiting in line at the Miami Beach Convention Center for mortgage assistance. The Neighborhood Assistance Corporation of America set up a workshop Thursday for homeowners who need help paying their mortgage. [...]

NEW YORK (CNNMoney.com) — The American dream of home ownership has turned out to be the American nightmare for those who could never really afford a home in the first place. Many borrowers are now in deep trouble as home [...]

The number of homeowners who defaulted on their mortgages  even after securing cheaper terms through the government’s modification program nearly doubled in March, continuing a trend that could undermine the entire program. Your Money Guides Data released Wednesday by the [...]

The chairwoman of a congressional housing committee today called for increased measures to help homeowners whose mortgages are greater than the value of their homes. In the past year, 1.4 million trial loan modifications have taken place but only 230,000 [...]