Foreclosure Mediation

More Short Sales Seen as Lenders Accepting Less

(Source: San Francisco Chronicle) – Homes nearing foreclosure accounted for 12 percent of total sales in the second quarter, as banks agreed to more sales at prices below the mortgage balance, RealtyTrac Inc. said Thursday.


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Home Short Sales Increase as Banks ‘More Realistic’ on Market

(Source: Bloomberg By Dan Levy) – U.S. homes nearing foreclosure accounted for 12 percent of total sales in the second quarter as banks agreed to more transactions at prices below the outstanding mortgage balance, RealtyTrac Inc. said.


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Short Sales Complicate Local Real Estate Market

(Source: My Desert Brad Schmett) – Before you get too excited over the prospect of buying that La Quinta short sale property you found online, pick up the phone and call your real estate agent. He or she needs to [...]


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Is a Short Sale Worth the Knock on my Credit?

(Source: By GARY M. SINGER Sun Sentinel) – Question: My townhome has lost about 25 percent of its value. I’m barely managing the payments. Similar homes in my complex are renting at less than half of what I am paying [...]


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Short Sales Strong Through 2013

(Source: UPI) – Short sales will remain strong for the next several years as foreclosure inventories timelines grow even longer, according to the chief operating officer of Equator, a premier software platform for default servicers.


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New Federal Loan Modification Program Begins Monday to Help Unemployed

(Source: By Donna Gehrke-White Sun Sentinel) – The Obama Administration began a new policy Monday to give unemployed homeowners with FHA loans a break on part or all of their mortgage payments for up to 12 months.


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Ocwen Offering Mortgage Modifications That Restore Equity for Underwater Borrowers But Let Loan Investors Share in Appreciation When Market Recovers

WASHINGTON, Jul 26, 2011 (Source: MarketWatch) — Ocwen Financial Corporation OCN -0.61% , servicer of residential mortgages, has initiated a loan modification program designed to help distressed homeowners who owe more than their houses are worth and, at the same [...]


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New Foreclosure Prevention Law Takes Effect

(Source: kuow) – The state’s new Foreclosure Fairness Act takes effect today (Friday). It requires that distressed homeowners be given the chance to seek mediation before banks can foreclose. Housing counselors say their phones are ringing off the hook as [...]


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Short Sales, Long Waits: Buyers and Sellers Find Process Frustrating

DETROIT (Source: By Greta Guest, Detroit Free Press) – Short sales are among the most arduous real estate transactions, often taking six months or more to close — if they get done at all.


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Q&A: Deed In Lieu Of Foreclosure Saves Time As a Last Resort

(Source: South Florida Sun-Sentinel) – QUESTION: Can you please explain what a deed in lieu of foreclosure is and how it works?ANSWER: In a deed in lieu of foreclosure, you surrender your home to the lender to avoid the hassle [...]


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Mediation Efforts Fail To Stem Foreclosure Tide

PRINCE GEORGE’S COUNTY, Md. (Source: MSNBC By Kat Aaron and Mary Kane) — On a hot summer evening, two second-year law students are trudging through the leafy neighborhoods of suburban Prince George’s County, knocking on doors. Toting stacks of fliers, [...]


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Wells Fargo to Help Central Valley Customers Facing Mortgage Payment Challenges

MODESTO, Calif., Jul 11, 2011 (Source: Market Watch) — Wells Fargo & Company WFC +0.84% announced today it is hosting a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing [...]


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Putting Brakes on Foreclosure

(Source: Chicago Tribune) – Q: I have been working with my bank on a loan modification, but just received a notice of foreclosure. I contacted the lawyer who is handling the foreclosure process, but she said she is acting on [...]


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An Insider’s View of Surviving a Short Sale

(Source: Chicago Tribune By Jim Buchta) – Chris Willette became a short-sale expert the hard way: He did his own. Almost three years ago, the Edina (Minn.) Realty sales agent found himself in the unenviable position of having to persuade [...]


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BofA Accord May Lead to Mortgage-Principal Writedowns, Bill Clinton Says

(sOURCE: By Hugh Son) – Former President Bill Clinton said Bank of America Corp. (BAC)’s accord with mortgage-bond investors may give more “underwater” borrowers a chance to cut the amount owed on their home loans.


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US Mortgage Modifications Down 10.5% From Year Ago

WASHINGTON -(Source: NASDAQ By Alan Zibel)- The number of troubled U.S. homeowners receiving help with their mortgages fell by more than 10% from a year earlier in the first quarter as fewer borrowers qualified for help.


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‘Mortgage Approved!’ 5 Factors That Make it Happen

NEW YORK (Source: By CANDICE CHOI Associated Press) – There’s rarely been a better time to buy a home. If only you could get approved for a mortgage.


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Oregon Foreclosure Bill Regulating Loan Servicers Still Alive

(Source: By Brent Hunsberger, The Oregonian) – Sources say at least one bill aimed to extending foreclosure protections for consumers and adding greater oversight over loan servicers remains alive today in the Oregon Legislature.


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Ask a Real Estate Pro: Do I Still Owe the Bank After a Short Sale?

(Source: Sun Sentinel By Paul Owers) – Lawyer and real estate consultant Gary M. Singer answers housing questions in this space each Friday.


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