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- NACA - I Am Really Concerned about the Conselor I Had!! I Need Help- Auction is 6-14Forum: NACA Posted By: christyhaz Post Time: 05-24-2012 at 07:12 PM […]
- New Home Sales Increase Over 3% in AprilForum: Real Estate & Property Investing Posted By: Evan Bedard Post Time: 05-24-2012 at 06:11 PM […]
- Negotiating with a 1st who has already shown their hand?Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: walkin Post Time: 05-24-2012 at 05:00 PM […]
- New to all of thisForum: Wells Fargo Home Mortgage Posted By: janie Post Time: 05-24-2012 at 03:18 PM […]
- New here... hardship letter helpForum: Loan Modification Posted By: PAoptimist Post Time: 05-24-2012 at 03:12 PM […]
- Home Values in Regional Markets Have Yet to BottomForum: Real Estate & Property Investing Posted By: Evan Bedard Post Time: 05-24-2012 at 02:43 PM […]
- HARP refinancing with LPMI in OregonForum: HARP Mortgage Loan Program Posted By: SODogLover Post Time: 05-24-2012 at 02:32 PM […]
- Results of Wells Fargo Foreclosure MediationForum: Wells Fargo Home Mortgage Posted By: cosmojinx Post Time: 05-24-2012 at 01:22 PM […]
- Steamline Refinance, Verification of EmploymentForum: FHA Loans, Requirements & Rates Posted By: twojp Post Time: 05-24-2012 at 10:30 AM […]
- Secured loan against paid off house... good credit, income under the tableForum: Home Equity Loan Posted By: entrepreneurguy Post Time: 05-24-2012 at 09:38 AM […]
Foreclosure News
In 50-State Foreclosure Negotiations, Dispute Underlines Basic Questions
(Source: The Washington Post By Brady Dennis) – A recent and acrimonious dispute among state officials over a possible legal settlement to address nationwide mortgage abuses is underscoring basic questions about what the effort should accomplish.
New York Spars in Foreclosure Talks
(Source: The Wall Street Journal BY RUTH SIMON AND NICK TIMIRAOS) – Efforts to forge a consensus among government officials seeking to negotiate a foreclosure settlement with banks are stumbling in the face of New York State Attorney General Eric [...]
Feds Want Foreclosures Sold in Bulk to be Rentals
(Source: by Catherine Reagor, The Arizona Republic) – The federal government would like to sell some of its huge portfolio of foreclosure homes to investors who will rent them out.
Banks Foreclosing on Burt Reynolds Mansion
(Source: Star Tribune) – Friends and fans of Burt Reynolds are rallying around the actor after hearing that his home in Hobe Sound, Fla., is under foreclosure proceedings.
Foreclosure Talks Snag on Bank Liability
(Source: Wall Street Journal BY RUTH SIMON, VANESSA O’CONNELL AND NICK TIMIRAOS) – Efforts to reach a settlement that would end the long-running probe of foreclosure practices are snagged over whether banks will get broad legal immunity from state officials [...]
Fannie Mae Admits Pushing for Foreclosures Instead of Loan Modifications
(Source: The Bryan Ellis Real Estate Letter by Carole VanSickle) – In a move that local government officials throughout Michigan are describing in terms of being “disgusting…[but] not news,” Fannie Mae has released papers and internal memos indicating that the [...]
Nevada Joins States Balking at Bank Releases in Foreclosure Practices Deal
(Source: Bloomberg By David McLaughlin) – A possible settlement of a 50-state probe of foreclosure practices drew more state scrutiny as Nevada’s attorney general joined three other states in voicing concern about a deal that protects banks from continuing mortgage [...]
4 Banks Cleared to Start Foreclosing Again
(Source: North Jersey.com BY KATHLEEN LYNN) – Four major mortgage lenders were cleared Monday to start filing foreclosure cases in New Jersey again, almost eight months after the state’s chief justice halted most foreclosures following reports of legal irregularities.
Homeowners Receive False Foreclosure Notes
(Source: Albert Lea Tribune) – Homeowners experiencing troubles with mortgage lenders after their monthly mortgage payments are modified are common in Minnesota.
Bank of America Said to Be Seeking Separate Home Mortgage Foreclosure Deal
(Source: Bloomberg By David McLaughlin and Dakin Campbell) – Bank of America Corp. (BAC) has held settlement negotiations with some states over home foreclosures separately from talks with a larger group of state and federal officials, two people familiar with [...]
Foreclosures Spawn Investor-Subsidized Rental Push
(Source: By LESLIE BERKMAN The Press-Enterprise) – Despite a longtime policy of fostering home-ownership, the federal government in its struggle to cope with a mountain of foreclosures is evaluating various proposals to encourage lenders or investors to convert foreclosed homes [...]
Foreclosure Accord Liability Releases Draw Resistance From Three States
(Source: Bloomberg By David McLaughlin) – Three states conducting their own probes of residential mortgage practices are resisting broad liability releases sought by banks to settle a nationwide foreclosure investigation.
Facing Criticism, MERS Cuts Role in Foreclosures
(Source: Reuters By Scot J. Paltrow) – MERS, the electronic mortgage registry that faces multiple investigations for its role in thousands of problematic foreclosure cases, changed its rules to lower its profile in court-supervised foreclosures.
R. Kelly Faces Foreclosure
(Source: CBS MoneyWatch By Ilyce Glink) – What Main Street has been enduring for years now is finally hitting close to home, pardon the pun, for the rich and famous.
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 [...]
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, [...]
States Negotiating Immunity For Banks Over Foreclosures
NEW YORK, July 20 (Source: Reuters By Scot J. Paltrow) – State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
Mortgage ‘Robo-Signing’ Goes On
(Source: AP Associated press By MICHELLE CONLIN) – Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led [...]
AP Exclusive: Mortgage ‘Robo-Signing’ Goes On
(Source: Michelle Conlin and Pallavi Gogoi, AP Business Writers) – Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices [...]
JPMorgan to Cut Mortgage Holdings to ‘Close to Zero’
(Source: Bloomberg By Dawn Kopeck) – JPMorgan Chase & Co. (JPM) is winding down its $154 billion mortgage portfolio to “close to zero” as the bank works through mortgage losses and litigation over loan- servicing and foreclosure practices.
Jamie Dimon Really, Really Wants to Settle Foreclosure Probe
(Source: Wall Street Journal By Shira Ovide) – Bank investors have been biting their fingernails over a potential multi-billion-dollar settlement with state and federal officials over alleged foreclosure abuses. And J.P. Morgan CEO Jamie Dimon is anxious to get an [...]
Foreclosures Are the Solution, Not the Problem
NEW YORK (Source: TheStreet By Philip van Doorn) – Former Federal Deposit Insurance Corp. Chairman Sheila Bair made some excellent points in her Washington Post Op-ed piece Monday but overlooked one important point: The U.S. needs to double down on [...]
JPMorgan, BofA Said to Near Foreclosure Deal
(Source: Bloomberg By Dawn Kopecki) – Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM) and three other U.S. mortgage servicers are in advanced talks to resolve state and federal claims over faulty foreclosures, according to two people briefed [...]
Program to Deter Foreclosures in Maryland is Less Successful Than Anticipated
(Source: The Washington Post By Ovetta Wiggins) – Louise Golden, 79, recently stood at the front door of her tidy brick split-level in Lanham, still shocked to hear the terms of the refinancing agreement she and her now-deceased husband, Stanley, [...]
Borrowers Sue Over Apparent Loan Mod Mishaps
LOS ANGELES (Source: By JACOB ADELMAN, Associated Press) – It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.
For Md. Homeowner, a Refinance Request Gone Wrong
(Source: The Baltimore Sun) – Angela Cottrell regrets ever calling her mortgage servicer to ask about refinancing options. What Wells Fargo suggested she do ultimately increased her loan balance and ruined her credit, she said.
Why the Housing Crash Remains a Wreck
(Source: Fox Business By Marcie Geffner) – Foreclosures. Short Sales. Unemployment. Tight credit. Overbuilding. Those are but some of the reasons housing markets in many parts of the country remain stubbornly depressed, even while activity in other economic sectors has [...]
Short Sales, Foreclosures Taint Myrtle Beach Area Real Estate Market
(Source: The SUn News By Adva Saldinger) – The Grand Strand real estate market remains in a precarious position as sales waver and prices continue to drop, according to data released Monday.
After Ruling Halted N.J. Foreclosures, Experts Fear Deluge of Filings
(Source: By Sarah Portlock / The Star-Ledger) – In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed homeowners in New Jersey. The [...]
Which to Buy: Short Sale or Foreclosure?
(Source: Fox Business By Kim Fulscher) – In this buyer’s market, some homebuyers ask themselves: Will purchasing a short sale or foreclosure end in disaster — or yield a jackpot?
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