November 2010

Foreclosure activity in Massachusetts dropped sharply in October as some banks temporarily suspended mortgage reviews, the Warren Group said today. “We haven’t seen this low level of foreclosure deeds in any month in more than three years,” Timothy M. Warren [...]

t looks like George Myers is going to win after all. But it wasn’t easy. Just a few weeks ago, after negotiating for months with SunTrust Mortgage, the lender gave Myers permission to sell his house in a short sale.

About a year ago I wrote the first part of this topic in response to a thread over at Trulia where agents were answering legal questions, and giving really bad answers. That thread pertained to the rights of tenants in [...]

Appraisers have long been the mopes of the U.S. home loan industry. In other countries, such as Mexico, you have to be an architect or an engineer to make home appraisals; here, you just have to get a license, the [...]

“I’m trying everything to save my home, but they’re not working with me,” Clark said. Hundreds of homeowners packed Tuesday’s event, and organizers said they expected 1,000 borrowers to meet with lenders during the one-day workshop. The program was put [...]

Imagine your home is in foreclosure. For a lot of Chicagoans, it’s not hard to dream up. One in five homeowners in the metropolitan area are delinquent by at least one month on mortgage payment. Like so many, you don’t [...]

SAN JOSE — Tony Salem, of San Jose, thinks he’s a great candidate for “Keep Your Home California,” a new state program that has almost $2 billion in federal grants to help underwater homeowners stay in their homes.

The American Securitization Forum, a trade group for the securitization industry, is set to release on Tuesday a 28-page defense of widely used practices for bundling mortgages into securities. The securitization process and foreclosure-documentation practices are likely to face criticism [...]

The American Securitization Forum, a trade group that lobbies for the industry that managed to convert subprime mortgages into a financial crisis, released a report on Tuesday defending how those home loans were made into bonds and more explosive financial [...]

The ongoing “turmoil” roiling megabanks and their faulty home foreclosure practices may represent deeper, more systemic problems regarding the origination, transfer and ownership of millions of mortgages, potentially putting Wall Street on the hook for billions of dollars in unexpected [...]

The American Civil Liberties Union and several other media and First Amendment groups sent letters to the Florida’s chief justice and another judge, urging them to ensure foreclosure proceedings remain open to the public and the media.

For people pushed out of their own homes by the law firm of foreclosure king David J. Stern, consider Monday’s news a piece of sweet irony. Stern, the South Florida lawyer who built a business empire in the foreclosure industry, has [...]

Foreclosures will outstrip loan modifications for homeowners in trouble this year at an estimated 2 million foreclosures to 1.7 million completed modifications. The reason, according to attorney Diane Thompson with the National Consumer Law Center, is that the companies that [...]