December 2010

As if the collapse in the housing market had not done enough damage to the U.S. economy, the president’s debt commission is now proposing changes that could take the industry off life support. Among the recommendations in the commission’s 65-page [...]

Question: A mortgage broker charged me $500 to help with a loan modification. Now his phone is disconnected and his website is down. What can I do? – Sherry Aim Answer: Unfortunately, you were most likely scammed by a dishonest [...]

OKEECHOBEE COUNTY, Fla.—Patsy Campbell could tell you a thing or two about fighting foreclosure. She’s been fighting hers for 25 years. The 71-year-old retired insurance saleswoman has been living in her house, a two-story on a half acre in a [...]

Image by The U.S. Army via Flickr For military homeowners who have been hit hard by the crumbling housing market in recent years, it’s not just about doing the ethical thing by paying their debts. It’s also about what a [...]

Real estate investor Marjorie Oster was pleased when she snagged what looked like a good deal through a Miami-Dade County foreclosure court auction: a four-bedroom house in Cutler Bay, with a swimming pool, for about $95,000. But when her husband [...]

“It said, ‘Your loan modification is denied,’” she says. “That was it.”

The Washington County Library and the Washington County HRA are offering free foreclosure counseling and information workshops to anyone who wants to ask questions and get advice from trained foreclosure prevention counselors. Anyone who is behind on their mortgage, anyone [...]

These aren’t just perilous times for Minnesota homeowners worried about losing their houses. A cash-strapped statewide network of foreclosure prevention counselors was rescued Tuesday by a $1 million grant from the Minnesota Housing Finance Agency. The funds, which include a [...]

Luzerne County residents caught up in mortgage foreclosure proceedings now have a chance to meet face to face with their lenders to try to negotiate a payment agreement before they may be put out of their properties. The county Court [...]

“Demand for foreclosures also dipped in the third quarter, but those who did purchase a short sale or REO during the quarter were able to get an average discount of more than 32 percent — the highest average foreclosure discount [...]

This holiday season will be a happy one in the Bellwood home that Rogelio Huerta and Maria Soto share with their two young sons. That’s because the couple on Wednesday made the first mortgage payment on a permanent loan modification [...]

(Reuters) – Goldman Sachs (GS.N) is pondering the sale of Litton Loan Servicing LP, the bank’s mortgage servicing unit that was recently caught in the home  foreclosure storm, the Financial Times said, citing people familiar with the situation. If the [...]

MABLETON, GA — The knock on the door Thursday morning was a Cobb County Sheriff’s Deputy telling Sasha Davis that she, Patrick Duff and their nine-day-old daughter, Mia, had to get out of their house.

A change in financial status due to divorce and medical expenses pinched Julie Hall’s budget and led to the realization she needed help with her mortgage. A friend in the mortgage business referred her to a Detroit-area man and his [...]

HAMP’s failure was outlined by Neil Barofsky, inspector general overseeing the government’s bank bailout, in congressional testimony last April. He explained that “the home foreclosure crisis has not abated; indeed, the situation has continued to deteriorate since HAMP’s rollout.”

Image via Wikipedia WASHINGTON (TheStreet) — Saying that “we must restore integrity to the mortgage servicing system,” Federal Deposit Insurance Corp. Chairman Sheila Bair on Wednesday described a myriad of loan servicing problems to the Senate committee on Banking, Housing, [...]

Dec. 2 (Bloomberg) — Mortgage lenders and their servicers, by flooding courts with falsified foreclosure documents, have created chaos in the judicial system, housing lawyers told lawmakers.

Former employees of the law firm of David J. Stern and a related company have filed a federal lawsuit asking for back wages and benefits because they claim that hundreds of employees were fired without 60 days’ advance notice, as [...]

SAN FRANCISCO (KGO) — The foreclosure crisis continues to threaten millions of homes across the nation, but while so many homeowners face the terrible prospect of losing their homes, millions of renters have also been evicted in the foreclosure crisis. [...]