April 2011

Homelessness up Among Seniors

(Source: SignOn San Diego By Mario Garrett) – The economic downturn continues to affect older adults, as evidenced by AARP’s recent suit against the Department of Housing and Urban Development. It’s about reverse mortgages. AARP argues that HUD — by [...]


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Loss Of Woman’s Home Prevented — For Now — In Modification Struggle

April 25, 2011 (Source: The Maui News HARRY EAGAR) – Amid the many foreclosure actions and auctions on Maui, one has come to a halt, after a federal judge in Honolulu granted a temporary restraining order.


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Frustration Comes with Underwater Jacksonville Real Estate

April 26-(Source: The Florida Times-Union By Kevin Turner) – Nearly half of the homes in Jacksonville are worth less than the balance on their mortgage loans — a condition known as being “underwater” — and that has made life more [...]


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Help is Available for Homeowners

April 24-(Source: Tampa Tribune By Laura Kinsler) – NEW PORT RICHEY – Pasco County housing officials want to make sure local homeowners don’t miss out on a new statewide foreclosure prevention program, so they’re offering to help people fill out [...]


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Re-fi Scam Plotters Identified

April 23-(Source: The Telegraph By Andrew Wolfe) -The way Michael Prieto sees it, homeowners who complain about his refinancing program are a bunch of ingrate deadbeats.


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Counselors Can Help With Reverse Mortgage

April 24-(Source: The Sacramento Bee By Claudia Buck) – Seniors with reverse mortgages who are struggling to keep their homes can now get free help.


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New Home Sales Get an 11% Lift After Winter Doldrums

(Source: USA TODAY) – More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century.


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Home Buyers Shun ‘Fixer-Uppers’

(Source: Record, The; Bergen County, N.J. By KATHLEEN LYNN ) – In the overheated housing market of five years ago, buyers often felt they had to accept homes in woeful condition. But these days, most look at “as-is” properties and [...]


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Citizens Policy Holders Watch Premiums Keep Rising

April 25-(Source: The Miami Herald By Ina Paiva Cordle) -Seeking warm weather, Debbie and Mark Roman decided recently to move from Pennsylvania to South Florida, and locked into a Coral Springs ranch house for $299,999. The price was right, the [...]


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Georgia Lawmakers Prepare for Debate About Debt Ceiling

April 25-(Source: The Macon Telegraph By Shelby G. Spires) -If the U.S. had to put its debt on a charge card, its bill would be increasing at a rate of about $125 billion each month.


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Tourist Spending Up, Visa Reports

Source: USA TODAY Publication date: 2011-04-26 –In another sign that global tourism is rebounding from the recession, a report released Monday shows a sharp increase in travel spending by Visa card holders.


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Treasury Investment Funds See $1.7B Gain

Source: Commercial Appeal, The Publication date: 2011-04-23 Arrival time: 2011-04-25 –WASHINGTON – The Treasury Department said Friday that an investment program set up during the financial crisis to buy toxic assets from banks is showing a $1.7 billion gain.


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HSBC to Close Retail Units in Russia

Source: Irish Times Publication date: 2011-04-26 Arrival time: 2011-04-25 –HSBC HOLDINGS, Europe’s biggest bank by market value, is to close its retail and private-banking units in Russia to focus on corporate clients as domestic lenders gain market share.


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HSBC Pledges Additional $100m to Support UAE SMEs

Source: Middle East Company News Publication date: 2011-04-26 –HSBC announced that it has launched its second UAE SME Fund, which represents a further commitment of $100m to small and medium sized enterprises in the UAE. The Bank signed an MoU [...]


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Underwater Homeowners Who Walk Are More Credit Savvy

(Source: USA Today By Julie Schmit) – People who default on mortgages they can afford to pay are savvy about credit and tend to have better credit histories than other defaulters, new research shows.


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Iowa Attorney General Reviewing Case of Couple who Got Free Home

(Source: ABC News By SUSANNA KIM) – The Iowa Attorney General’s office is reviewing the case of a couple who paid virtually nothing for their home because of a century-old Iowa law.


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Ratings Agency Plans Analysis of Mortgage Arrears ‘Loan by Loan’

(Source: .independent.ie By Emmet Oliver) – FITCH, one of three main global ratings agencies, plans to do a “loan-by-loan” analysis of mortgage arrears as it grows concerned over the number of borrowers defaulting. The agency also wants to study more [...]


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A Pennsylvania Borrower Program May be Better Than HAMP

WASHINGTON (Source: MarketWatch By Ronald D. Orol) — As Republicans try to kill an Obama administration foreclosure prevention program that even Democrats agree hasn’t lived up to expectations, a program in Pennsylvania is being lauded for being simpler, cheaper and [...]


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Many Delinquent on Student Loans

Source: United Press International Publication date: 2011-04-23 –A survey by the Institute of Higher Education Policy found one in four U.S. borrowers is having trouble making full monthly payments on their loans.


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2 Russian Immigrants Indicted on Federal Bank Fraud Charges

Source: The Fayetteville Observer Publication date: 2011-04-22 Arrival time: 2011-04-23 –April 22–A pair of Russian immigrants have been charged with using a device to surreptitiously steal credit and debit card data from 60 people at three ATMs in Fayetteville.


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Advocates Fear Loss of State Fund to Help Jacksonville Homebuyers

Source: The Florida Times-Union Publication date: 2011-04-24 –April 24–The Jacksonville Housing and Neighborhoods Department approved 26 Jacksonville residents last week to receive about $15,000 each in down payment assistance so they could qualify to purchase new or existing homes.


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Two Held in Home Fraud Scheme

(Source: Daily News By C.J. Lin) – The owner of a now-defunct Granada Hills realty firm and a broker were in custody Thursday on suspicion of stealing nearly $1 million from hopeful homeowners.


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Victim of Loan Modification Fraud, Fraud Speaks Out

April 23-(Source: The Porterville Recorder By Denise Madrid) – Porterville resident Joaquin Uriostegui was one of numerous victims of a local paralegal posing as a foreclosure consultant who promised he would help people save their homes from foreclosure, but instead [...]


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WaMu Rewarded Employees Who Pushed Dangerous Mortgages

April 23-(Source: The Palm Beach Post By Kimberly Miller) – In the fall of 2006, Washington Mutual was so determined to push its riskiest mortgages on customers that it created a football-themed employee bonus “blitz,” offering “touchdown” incentives for every [...]


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Milwaukee Homeowner Paying on Time, Yet Facing Eviction

April 24- (Source: The Milwaukee Journal Sentinel By Cary Spivak) -Keon Williams is on the verge of being thrown out of his house — a startling turn of events, considering that for nearly three years since refinancing in 2008, he [...]


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Seven Arrested in $8.8 Million Mortgage Fraud Investigation

April 21–TAMPA -(Source: Tampa Tribune By Shannon Behnken) – Three husband and wife teams and one other person were arrested Wednesday in connection with an $8.8 million mortgage fraud scheme.


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Budget Cuts Worry Fair Housing Center Director

April 21-(Source: The News-Herald By John Arthur Hutchison) – When Congress needed to make a deal to avoid a government shutdown earlier this month, federal lawmakers made many funding cuts.


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Ex-Insurance Rep Charged With Stealing From Client

April 22-(Source: Watertown Daily Times By David Winters) -A former insurance claims representative stole $44,900 that should have been paid to a North Lawrence man whose home was destroyed in a Dec. 17, 2009, fire, the state Insurance Department said. [...]


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Orlando Regional Medical Center

(Source: Houston Chronicle By Purva Patel) – Median sales prices for homes in Houston area are far from their peak of more than $200,000 a few years ago.


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Longwood Man Stabbed During Fight with Burglar

(Source: The Orlando Sentinel By Anika Myers Palm) – Longwood police are searching for the man who broke into a home and stabbed the homeowner several times early today.


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