April 2011

Dallas-Fort Worth Home Sales, Starts Drop in First Quarter

(Source: The Dallas Morning News By Steve Brown) – North Texas’ housing market has nothing but negative numbers to show for the first quarter.


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Two Brothers Plead Guilty in $1.3 Million Mortgage Fraud Scheme

(Source: The Florida Times-Union By David Bauerlein) – Two brothers covered the bases in a Jacksonville mortgage fraud scheme that prosecutors contend duped lenders into making $1.3 million in shaky home loans.


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Housing Aid: Apply Online in English

(Source: The Miami Herald By Toluse Olorunnipa) – Homeowners who want to take advantage of a $1 billion mortgage assistance program must have access to a computer and must be able to read English in order to apply — two [...]


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Offering Relief or a Rip-Off?

(Source: The Free Lance-Star By Cathy Jett) – “Good news!” the agent at the home loan modification firm told a “desperate homeowner” facing foreclosure.


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Loan Interest Rates Don’t Affect Credit Report

(Source: Scripps Howard News Service By Kathleen Pender) – Today, I answer reader questions on credit scores and security breaches — and provide a tax tip. Q: We recently had our adjustable rate mortgage adjust down, way down. Our payments [...]


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Banks Near to Signing Foreclosure Pact

(Source: United Press International) – The rush to foreclose on U.S. homeowners in default may change soon among the largest lending firms, officials told The New York Times.


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Foreclosures Sales Surpass Conventional Sales in Tampa Bay Area

(Source: St. Petersburg Times By Mark Puente) – For maybe the first time ever, sales of foreclosed homes in the Tampa Bay area have exceeded traditional sales.


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Home-Loan Delinquency Rate Locally Keeps Rising

(Source: The Blade By Jon Chavez) – Declining disposable income may be a key factor leading to an increase since last summer in delinquent home loan payments in metro Toledo, local experts say.


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New Money Will Help Idahoans Keep Homes

(Source: The Idaho Statesman, BoiseBy Joe Estrella)  – The U.S. Department of Housing and Urban Development is throwing a lifeline to potentially hundreds of Idaho homeowners who are delinquent on their mortgage payments.


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Government Shutdown: Oregon Still Gets Social Security, Mail and Bonneville Power

WASHINGTON -(Source: The Oregonian By Charles Pope) – If the federal government grinds to a partial stop Saturday morning, there is good news for the 70,461 people in Oregon who receive Social Security: Your benefits will continue without interruption.


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Foreclosures Have Large Slice of Market, But Narrow Range of Buyers

PHILADELPHIA (Source: The Philadelphia Inquirer) – Foreclosures, sad to say, are a fact of life in today’s housing market.


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Property Investor

(Source: Irish Times) – Defaulting borrowers are finding sympathy in the High Court as the legal battle lines between lenders and borrowers are played out, writes PAT IGOE


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More Spring in Local Home Sales, But too Soon to Call it a Trend

(Source: The Seattle Times By Eric Pryne) – King County’s housing market showed more strength than anticipated in March, observers agree.


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Mortgage Advice From Bank of Ireland

(Source: Belfast Telegraph ) – Q: Is it the right time to buy? It’s easy to believe that this is not the time to buy a new home. There is economic uncertainty, property values in Northern Ireland have been falling [...]


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Agencies are Bracing for Closures

WASHINGTON -(Source: USA TODAY By Gregory Korte) – Federal agencies began releasing some details about their shutdown plans Wednesday, as the government could close its doors as early as Saturday morning.


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6 Housing Markets Hitting Bottom

(Source: USA TODAY By Julie Schmit) – The U.S. housing market looks like a scorched landscape. Nationwide, home prices are down almost 32% from their 2006 peak. Many economists expect them to fall at least 5% more this year. Some [...]


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Bankruptcy Petitions Up On Credit Tightening

SAO PAULO, 4/6/11 (Source: Investnews; Sao Paulo) – The number of bankruptcy petitions in Brazil rose for the fourth consecutive month in March, to 172 – 28.4% more than in February 2011. The biggest number of petitions came from micro [...]


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Ex-Billionaire Hit with Forced Bankruptcy Petition

BILLINGS, Mont. (Source: Associated Press/AP Online By MATTHEW BROWN) – Authorities from three states are seeking to force former billionaire Tim Blixseth into an involuntary bankruptcy to extract tens of millions of dollars in unpaid taxes he allegedly stashed in [...]


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Carinalli Kin to Relinquish Millions

(Source: The Press Democrat, Santa Rosa, Calif By Nathan Halverson) – The children of bankrupt developer Clem Carinalli have agreed to relinquish claims to millions of dollars in order to settle a lawsuit filed by their father’s creditors.


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Tribune Mediator Wants Another Chance to Broker a Deal

(Source: Chicago Tribune By Michael Oneal) – The court-appointed mediator in Tribune Co.’s bankruptcy case wants to take another shot at brokering a settlement between the two warring creditor groups in the 28-month-old Chapter 11 proceeding.


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Credit Charity Awareness Drive as Our Bankruptcy Rate Tops UK List

(Source: Belfast Telegraph By Michael MChugh) – Northern Ireland had the highest levels of bankruptcy recommendations in the UK last year, a credit charity has announced.


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Colorado Suit Claims Multi-State Mortgage Modification Scam

(Source: Consumer Affairs By Mark Huffman) – As statistics from the government’s HAMP program attest, it isn’t easy to get a mortgage modification. Loan servicers seem uninterested in helping, often requiring homeowners to jump through a frustrating series of hoops.


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In Mortgage Relief Program, Hope Gets Foreclosed

(Source: Oregon Live David Sarasohn, The Oregonian The Oregonian) – It’s one of the most popular plots ever: Just as the nasty mortgage-holder is about to foreclose on the homestead, the handsome stranger saves the family home.


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Lawsuits Over Wachovia Collapse Thrown Out

NEW YORK, April 5 (Source: Reuters By Jonathan Stempel) – A Manhattan federal judge has dismissed three shareholder lawsuits accusing Wachovia Corp and its former executives of lying about the bank’s exposure to risky mortgage loans, which caused its near [...]


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How to Fight Foreclosure – Without Compromising Your Budget or Privacy

Silicon Valley, CA (Source: San Francisco Chronicle) – When Bank of America rejected Carla Ghosn’s request for a mortgage restructure after she had waited for seven months and spent hundreds of dollars putting her application together, the Silicon Valley entrepreneur [...]


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Trial Continues in $2B Mortgage Fraud Case in Va.

ALEXANDRIA, Va. (Source: Florida Wires) – Jurors at the federal courthouse in Alexandria, Va., continue to hear testimony at the $2 billion fraud trial of the former majority owner of what had been one of the nation’s largest private mortgage [...]


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Prices Are Low! Mortgages Cheap! But You Can’t Get One

NEW YORK (Source: CNNMoney By Les Christie, staff writer) – Yep, mortgage interest rates are low, but there’s a catch: It doesn’t matter how cheap rates are if you can’t get a loan.


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California Mortgage Aid Includes Cash-Out Loans

(Source: The Sacramento Bee By Robert Lewis) – Soon after launching a $2 billion statewide mortgage assistance program, the California Housing Finance Agency said Tuesday it would loosen eligibility requirements — allowing owners who used their homes as cash machines [...]


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Mortgage-Aid Program to Launch in Two Weeks

MANATEE -(Source: The Bradenton Herald By Duane Marsteller) – Florida homeowners behind on their mortgages because of job loss or reduced work hours soon will be able to seek government assistance to help them catch up.


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More Eligible for Mortgage Assistance Programs

(Source: The Sacramento Bee By Robert Lewis) – Struggling homeowners who had been shut out of a $2 billion state mortgage assistance program might be getting some help after all.


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