December 2010

NEW YORK (TheStreet) — The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury on Wednesday released the Obama Administration’s “Housing Scorecard,” saying that foreclosure activity had declined 21% during November, for the largest [...]

Six mortgage lenders in New Jersey have been ordered by the State Supreme Court to appear on January 19th — to demonstrate why the state should not suspend their foreclosure actions. The Chief Justice of the New Jersey Supreme Court, [...]

In response to Jamie Smith Hopkins’ article in the Dec. 20 edition of The Sun, I believe your headline, “State mortgage program lags on modifying loans,” presents an inaccurate assessment of Maryland’s foreclosure prevention efforts. The Maryland Department of Housing [...]

(Source: United Press International) – The Mortgage Bankers Association said U.S. mortgage activity fell in the week ending Dec. 17 as interest rates hovered near six-month highs. Interest rates for 30-year, fixed-rate mortgages rose from 4.84 percent to 4.85 percent. [...]

Many people facing foreclosure have successfully made the trial mortgage modification payments required of them, but they’ve been unable to get their banks to make the modifications permanent. For example, California homeowner Martin Galvan and family made 14 monthly trial [...]

Well, Happy Holidays, your bank just broke into your home and robbed you of your precious belongings — including your beloved husband! That’s what Bank of America just did to struggling homeowner Mimi Ash, who believes she was mistakenly foreclosed [...]

Although the banks have eased up a little on foreclosures, there are still plenty that will come down the pike in 2011. It is important to know the steps and options a homeowner faces. What happens after you miss a [...]

NeighborWorks America, the administrator of the National Foreclosure Mitigation Counseling (NFMC) program, says a new report has found that the odds of curing a foreclosure – and potentially avoiding losing a home – is 1.7 times larger for a homeowner [...]

FERNDALE – As Bela and Candace Pataky see it, their home has been threatened by the collapse of a housing bubble created by giant financial firms. While many of those firms got billion-dollar bailouts, the Patakys are still struggling to [...]

Mortgage loan modifications by Fannie Mae and Freddie Mac plunged during the third quarter, with ongoing activity down by more than half, says the Federal Housing Finance Agency [FHFA], the overseer of Fannie and Freddie. Only 35,400 mortgages held by [...]

There has always been a seamy underbelly to home mortgage modifications. Let’s face it, a whole crop of scam artists emerged to take advantage of desperate people. To combat this, the state of California passed a law that forbids homeowners [...]

)Source: By Jim Weiker, The Columbus Dispatch, Ohio) – Homeowners who missed out on the big home-improvement tax breaks that were to expire next week are in for some good news. The tax breaks have been extended in the tax [...]

(Source: USA TODAY By Julie Schmit) – Steven and Tamara Gewecke are three years behind on their mortgage payments, but they’ve fought off foreclosure. The Minnesota couple refinanced in 2006 to start a business. It failed. Debts mounted. The Geweckes [...]