April 2011

Cities are Key to Nation’s Future, Experts Say

(Source: The Modesto Bee By Garth Stapley) – Vibrant, dynamic cities hold mankind’s best hope for the future despite chronic problems with housing, transportation and crumbling services, some big names in public policy told a national gathering of land-use journalists.


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Building Boom in Affordable Housing Underway in South Florida

(Source: The Miami Herald By Toluse Olorunnipa) – There’s a quiet building boom taking place in South Florida, but it’s nothing like the mid-decade condo rush that ended in an epic economic bust.


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Homeowners Need Shield From Lenders’ Mistreatment

(Source: The Honolulu Star-Advertiser) – Hawaii’s home foreclosure rate has declined in recent months but repairs of the mortgage system are needed to protect homeowners from lenders’ mistreatment.


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Commercial Real Estate Heats Up

(Source: USA TODAY By Paul Davidson) – The once-dismal commercial real estate market is turning around far more quickly than analysts expected, with troubled loans falling, occupancy rising and office building sales surging in the largest markets.


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HUD Offering Government-Owned, Foreclosed Homes for Only $100 Down

(Source: St. Petersburg Times By Mark Puente) – Magan Landsiedel and Jeff Smolinski just bought a $133,000 home in Largo. Their down payment: $100.


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Jpmorgan Execs Id’D in Madoff Suit

(Source: The New York Post By Bruce Golding) – Now, he’s naming names. A new version of the $6.4 billion suit that accuses JPMorgan Chase of being “thoroughly complicit” with epic fraudster Bernard Madoff identifies the nearly two dozen bank [...]


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N.C. Leads Continental U.S. in Credit Card Borrowing

BOILING SPRINGS -(Source: The Star By Graham Cawthon) – Emily Lail juggles being a full-time Gardner-Webb University student with a part-time job.


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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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Banks Are Foreclosing While Homeowners Pursue Loan Modifications

(Source: LA Times) – Lenders say ‘dual tracking’ protects their investment if the homeowner is unable to qualify for new loan terms. But regulators seeking to ban the practice say it lulls some borrowers into thinking they won’t have their [...]


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Bank of America Attacked In New Report By Activist Group, Responds Vigorously

(Source: Hartford Courant By KENNETH R. GOSSELIN) – A coalition of unions and activists deepened its multifaceted attack against Bank of America Thursday in a new report accusing the financial giant of numerous abuses in Connecticut and the nation.


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Lesage Couple Sues Chase for Breach of Contract

HUNTINGTON -(Source: The Record By Kyla Asbury) – A Lesage couple is suing JPMorgan Chase Bank and Chase Home Finance after they claim the bank breached its contract with them.


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Loan Originator Compensation and Anti-Steering Rules Take Effect

(Source: Association of Corporate Counsel) – On April 5, 2011, the United States Court of Appeals for the District of Columbia (the “Court of Appeals”) took action that allowed the new loan originator compensation and anti-steering rules to take effect.


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Beware of Mortgage and Foreclosure Assistance Scams

(Source: The Florida Times by Teneshia LaFaye ) – I just saved my mom from being a victim of a home modification scam. You would think she would have learned from being scammed two years ago, but she was about [...]


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Judge Scolds LPS in Louisiana Case Emblematic of Mistaken Foreclosures

(Source: The Florida Times-Union By Roger Bull) – The federal judge’s words were direct and harsh. “One too many times, this court has been witness to the shoddy practices and sloppy accountings of the mortgage service industry,” U.S bankruptcy Judge [...]


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Foreclosure Fix – Feds’ Settlement With Banks a Wreck, Say Critics

(Source: The New York Post By MARK DeCAMBRE) – Good from afar but far from good. That encapsulates the reaction from Wall Street analysts, foreclosure defense lawyers and other pundits about a sweeping set of decrees unfurled yesterday by US [...]


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Condo Loans Challenge Buyer and Association

(Source: Scripps Howard News Service By MICHELE LERNER) – Borrowers run into two problems when getting a mortgage on a condominium: high costs and strict standards that make it hard to qualify for a loan.


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Delays Associated With Home Short Sales May Soon Shorten

(Source: Ocala Star-Banner By Fred Hiers) – U.S. Rep. Tom Rooney, R-Tequesta, Florida, and U.S. Rep. Robert Andrews, a Democrat from New Jersey, introduced legislation this week that would hopefully speed up short sales by requiring lenders to decide whether [...]


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Homeowners Facing Foreclosure Win Right to Mediation

(Source: The Seattle Times By Sanjay Bhatt) – Gov. Chris Gregoire signed into law on Thursday a bill that could help more homeowners in Washington state avoid unnecessary foreclosures.


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Homeowners, Scared to Sell, Rush to Remodel

CHICAGO (Source: Chicago Tribune) – After several years of perusing real estate listings and spending Sunday afternoons at open houses, Denise Majeski decided to stay put and fix up her 25-year-old Gurnee, Ill., home.


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Calculate the Real Cost of Homeownership

PHILADELPHIA (Source: The Philadelphia Inquirer) – Homes are more affordable these days, the selection is abundant, and interest rates are still fairly low. For some people, it could well be a great time to buy.


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Mortgage Rates Rise For Fourth Week

(Source: The Hartford Courant, Connecticut By Kenneth R. Gosselin) – Mortgage rates edged up for the fourth week in a row, as the home buying entered what is traditionally the busiest season for sales.


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Taking The Stress Out Of Mortgages

Madam, (Source: Irish Times) – With the term “debt forgiveness” now deemed as unwelcome as “default” by our European owners, and being a taxpayer and part- owner of the Irish banking system, might I suggest the following solution regarding stressed [...]


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Bank of America Cutting 1,500 Mortgage Jobs

(Source: The Charlotte Observer By Rick Rothacker) – As loan applications dwindle, Bank of America Corp. said this evening it’s eliminating 1,500 mortgage positions nationwide, mostly in processing and underwriting roles.


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Foreclosures in County Down 29%

(Source: The Columbian By Cami Joner) – The number of Clark County homes in foreclosure fell dramatically in March, revealing a more compassionate side of the mortgage industry.


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U.S. Mortgage Rates Edge Higher

(Source: United Press International ) – Average interest rates for 15-year and 30-year mortgages rose in the week ending Wednesday, the U.S. Federal Home Loan Mortgage Corp. said Thursday.


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Borrowers Moving to Offset Rates

(Source: Money Marketing ) – Brokers suggest borrowers are increasingly opting for offset mortgages due to a combination of poor savings rates, an imminent increase in the Bank of England’s bank rate and concerns over house prices.


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Mortgages: Pressing charges

(Source: Money Marketing) – Many brokers believe clients are not getting value from lenders which have raised application fees sharply over the past few years. Paul Thomas reports


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Debt Counseling for Couples: Tips for Couples Struggling Financially

(Source: McClatchy/Tribune) – A large segment of people who plan to pay down their debt with their tax returns may not be doing so. You might be among those who got behind in December and have been trying to dig [...]


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Bankruptcy Enters a Downward Trend Statewide

(Source: The Post-Star By Blake Jones) – Bankruptcy filings receded in the first quarter of 2011, falling about 15 percent from a year ago.


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