April 2011

Petitions for Bankruptcy Alternative Rising Sharply

(Source: The Milwaukee Journal Sentinel By Bruce Vielmetti) – Court-approved debt repayment plans, which have grown exponentially in Milwaukee County the past three years, are on pace to double yet again this year.


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Saudis Wishing to Own Homes Left With Limited Options

RIYADH -(Source: Arab News, Jeddah, Saudi Arabia) – Several citizens have expressed frustration over the prospect of not realizing their dreams of owning homes.


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Mortgage Co. Owner Farkas Led $3B Fraud

ALEXANDRIA, Va. (Source: AP Associated press) — Prosecutors told a jury Monday that the owner of what had been one of the nation’s largest private mortgage companies ran one of the largest and longest running fraud schemes in the U.S., [...]


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AG Warns Homeowners About Paying to Join Lawsuits Promising Mortgage Relief

(Source: Auburn Reporter) – The Washington Attorney General’s Office cautions homeowners about paying to participate in a “mass joinder” lawsuit promising mortgage relief.


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Warren Says Consumer Bureau to Release Model Mortgage Forms

(Source: Bloomberg By Carter Dougherty) – Elizabeth Warren, the Obama administration adviser charged with setting up the U.S. Consumer Financial Protection Bureau, said the agency will soon release model mortgage forms that may become the basis of new regulations on [...]


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Could Debt Worries Accelerate Fannie, Freddie Overhaul?

(Source: Wall Street Journal By Nick Timiraos) – Most Washington pundits don’t expect any major political action on mortgage giants Fannie Mae and Freddie Mac before the 2012 election, but growing jitters over the nation’s debt illustrate one potential catalyst [...]


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Goldman Chronicler William Cohan Is Doing God’s Work

(Source: New York News and Features) – Former Lazard banker William Cohan’s new book about Goldman Sachs is called Money and Power: How Goldman Sachs Came to Rule the World. But in a Q&A, the author suggests another title might [...]


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Conventional Home Sale Prices Beat Foreclosures By 50%

TAMPA (Source: TBO By Shannon Benhnen) – Home sales data show Tampa Bay area prices are still free-falling, and economists predict the decline could last all year.


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Florida Aid Seekers Flock to Apply

(Source: The Palm Beach Post By Kimberly Miller) – Florida homeowners pounced on the state’s Hardest Hit foreclosure prevention program Monday morning as the online application process opened on a first come, first served basis.


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Idaho gets Mortgage-Relief Money

(Source: Idaho Business Review, The By Carlson, Brad) – Idaho received $13 million to help unemployed and underemployed homeowners make mortgage payments.


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Where Will 300 Tenants Go?

SELINSGROVE -(Source: The Daily Item By Tricia Pursell) – When Susquehanna University purchases a neighboring public housing complex in November, the current residents will have to leave.


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Online Startups Offer Alternatives to Big Banks

(Source: San Jose Mercury News By Peter Delevett) – Time was, if you wanted a loan, you went to the bank. And when you wanted to deposit some money, you went to the bank. And if you wanted a checking [...]


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UK Mortgage Industry: European effect

(Source: Mortgage Strategy) – Change is coming to the UK mortgage industry, whether we like it or not. We examine the EC directive and how it will affect all parts of the market


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Rebuild Credit Rating With Regular Payments

(Source: Scripps Howard News Service By Steve Bucci) – Dear Debt Adviser: I am paying debt settlements on my credit cards from several years ago. I fell behind because of unemployment. Currently, we do not use credit cards. We pay [...]


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Rogers County Real Estate Association Hosts HUD Training

(Source: Claremore Daily Progress By Joy Hampton) – The housing market may have slowed, but in Rogers County it is far from dead. Now is an ideal time for buyers to take advantage of low interest rates and good deals. [...]


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Maronda, Area’s Third-Largest Builder, Files for Bankruptcy

(Source: The Pittsburgh Tribune-Review By Kim Leonard and Joe Napsha) – Maronda Homes Inc., the region’s third-largest home builder, filed for bankruptcy protection from creditors yesterday amid a national and local housing market that continues to stagnate.


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Feds Sue Owner of Defunct Stevensville Company

GRAND RAPIDS -(Source: Stilwell Democrat Journal By Julie Swidwa) – A lawsuit has been filed against the owner of a defunct Stevensville company to recover $16,200 in workers’ contributions to a retirement plan after the money was allegedly used to [...]


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Agreement Allows TH Properties to Avoid Liquidation Request

(Source: The Morning Call, Allentown, Pennsylvania By Patrick Lester) – A real estate advisor who called for TH Properties to be liquidated has withdrawn that request in U.S. Bankruptcy Court in Philadelphia under an agreement reached with the home builder [...]


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Maronda Homes Seeks Bankruptcy Protection

(Source: Pittsburgh Post-Gazette By Tim Grant) – Maronda Homes, the third-largest homebuilder in the Pittsburgh region, filed for bankruptcy reorganization Monday in U.S. Bankruptcy Court, Downtown.


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Man Fights Wrongful Foreclosure With Senator Tester’s Help

(Source: KFBB By Kacey Drescher) – What would you do if you were about to lose your house but had no idea why and who would you turn to? Those are just a few of the questions one East Helena [...]


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Foreclosure Probe Talks Said to Yield Some Agreements With Banks

(Source: Bloomberg By David McLaughlin) – Attorneys general negotiating a settlement of a 50-state investigation of foreclosure practices have reached agreements with lenders on some terms while failing so far to reach an accord on potential monetary payments by the [...]


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Florida Launches Billion-Dollar Mortgage Bailout Amid Concerns

ORLANDO, Fla. (Source: bostonherald By Mary Shanklin) — Florida on Monday launches a billion-dollar mortgage bailout aimed initially at unemployed homeowners and pinned largely on the hope that those who get help will find jobs within six months.


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Lenny Dykstra Arrested on Suspicion of Fraud

(Source: Ventura County Star By Stephanie Hoops) – Former Ventura County resident and baseball star Lenny Dykstra was arrested by Los Angeles police Thursday night on suspicion of grand theft, a day before the U.S. Justice Department announced its own [...]


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Sacramentans Sue Lenders to Save Homes — But Few Succeed

(Source: The Sacramento Bee By Phillip Reese and Robert Lewis) – Sacramentans struggling to keep their homes increasingly are suing their lenders for fraud, even though judges rarely rule in their favor.


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Idaho Gets Mortgage-Relief Money

(Source: Idaho Business Review, The By Carlson, Brad) – Idaho received $13 million to help unemployed and underemployed homeowners make mortgage payments.


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Bill in Idaho Would Give Foreclosed Owners Two Weeks’ Notice

(Source: Idaho Business Review, The By Goins, Dave) – With the wreckage from America’s subprime mortgage loan crisis still floating in, the Idaho Attorney General’s office has proposed a bill an official with the agency says would aid Idaho consumers [...]


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Realtor Pleads Guilty in Mortgage Loan Scheme

(Source: Richmond Times – Dispatch By CAROL HAZARD) – Richmond-area Realtor Jodi D. Robinson would take a piece of property she owned, find an unqualified buyer, doctor the loan application for that person, sell it at a higher price, pay [...]


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An Accurate Appraisal

(Source: Chicago Tribune) – Democratic state Rep. La Shawn Ford is a real estate agent. His diverse district takes in parts of Chicago’s West Side, Oak Park and Berwyn. He has heard an earful from residents who owe more on [...]


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Faulty Mortgages Hit Home for Bank

(Source: Boston Herald By Greg Turner) – Bank of America is having a hard time getting its financial house in order. The banking behemoth and major Bay State employer’s quarterly profit plunged 36 percent and missed Wall Street’s targets, the [...]


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Mortgage Stew Hard to Stomach for Some

(Source: The Daily Oklahoman By Richard Mize) – New mortgage finance regulations are on the way and they will make it even harder to get a loan to buy a house at the best possible interest rates.


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