Foreclosure activity in the San Diego region fell 17 percent in 2010, posting the third highest decrease among the 20 largest metro areas in the country, according to foreclosure-listings company RealtyTrac. Washington, D.C. (-22 percent) and the region of Riverside … Continue reading
HONOLULU - The state Consumer Protector Steven Levins said Friday that he was surprised by the consensus between lenders and consumer advocates about several reforms to Hawaii’s foreclosure law that he said will help many battered homeowners and even the … Continue reading
As if the nations mortgage crisis has not been scandalous enough, evidence is emerging the the taxpayers will be footing the bill to hire high priced attorneys to protect the former top executives of Fannie Mae. While homeowners continue to … Continue reading
The following story - from the New York Times - documents the troubles homeowners have in trying to get a mortgage modification. Even when it makes sense to both the homeowner and the bank, the banks have found a way … Continue reading
By: Carrie Bay 01/20/2011 As of the end of December, 6.87 million mortgages in the United States were delinquent or in the process of foreclosure, according to Lender Processing Services (LPS). The company provided the media with a preview of … Continue reading
With Bank of America’s revenues dropping and share price falling, look for BofA to find new creative new ways to extract more money from consumers. The following is an excerpt from McClatchy news regarding BofA’s troubled mortgage unit. Bank of … Continue reading
In a shocking new bit of news regarding the callousness and seeming incompetence of some of our nation’s largest banks, JPMorgan Chase has admitted to overcharging military families on their mortgages, and illegally foreclosing on 14 families. A recent NBC … Continue reading
By: Heather Hill Cernoch 01/17/2011 The Department of Veteran Affairs (VA) has instructed mortgage servicers to pay relocation assistance to borrowers completing short sales or deeds-in-lieu (DIL) of foreclosure on VA loans. “VA has a longstanding policy of encouraging servicers … Continue reading
By: Carrie Bay 01/14/2011 The delinquency rate on loans included in conduit and fusion U.S. commercial mortgage-backed securities (CMBS) deals skyrocketed 79 percent over the past 12 months, according to Moody’s Investors Service. Delinquencies started 2010 at 4.90 percent. By … Continue reading
A recent report by ForeclosureRadar shows unexpectedly mixed foreclosure activity in its coverage area for the month of December. The seeming aberrations could, however, be due to December being a month in which some lenders are more reluctant to foreclose. … Continue reading