Forty-One AGs Sign Letter Urging Congress to Extend Debt Relief Act By: Esther Cho Forty-one state attorneys general signed a letter Tuesday urging U.S. House and Senate leaders to extend the expiring Mortgage Debt Relief Act of 2007-. The attorneys general argued failure to extend the act would take away … Continue reading

Former DocX President Faces Prison Sentence for Robo-Signing Charges

DSNews By: Tory Barringer Former DocX president Lorraine Brown is looking at a two- to three-year stretch in prison after accepting a plea deal over robo-signing practices, according to announcement from Missouri attorney general Chris Koster. Under a plea agreement … Continue reading

Sandy-Swamped New Jersey Leading Foreclosures: Mortgages

Bloomberg News Foreclosure filings surged in New Jersey, New York and Connecticut last month, even before those three states bore the brunt of superstorm Sandy that now has homeowners digging through the debris. Default, auction and repossession notices increased 140 … Continue reading

Zillow: 14M Homeowners Still in Negative Equity, Share Drops Below 30% By: Esther Cho In the third quarter of this year, negative equity slipped further and now represents less than 30 percent of homeowners with a mortgage, Zillow revealed Thursday. According to a negative equity report, 28.2 percent of all … Continue reading

Foreclosure filings up in 113 metros in October RealtyTrac data shows foreclosure filings down 19 percent from year ago Over half of U.S. metro areas saw an increase in foreclosure activity from September to October, but foreclosure-related filings nationwide were down 19 percent from a year ago, … Continue reading

California Dual-Tracking Ban Leads to Spike in Cancelled Foreclosures

A specific provision in California’s Homeowner Bill of Rights may have led to a surge in foreclosure cancellations, according to a report from ForeclosureRadar. Foreclosure cancellations in California spiked 62.1 percent from September to October and 36.7 percent over a … Continue reading

Obama Administration Reports Improving Housing Market

DSNews Krista Franks Brock The state of the housing market continues to improve though recovery remains “fragile,” according to the October Housing Scorecard released Friday by the Obama administration. Along with the scorecard, the administration released special instructions for those … Continue reading

Tax break for homeowners set to expire

NEW YORK (CNNMoney) — By Les Christie The clock is ticking on a tax break that saves struggling homeowners from paying thousands of dollars to the IRS. If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended … Continue reading