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Entries Tagged as 'loan modification'

So far, only 60 take up Bank of America on short sale incentive

January 31st, 2012 · No Comments · Commercial Loans, Foreclosure, Litigation, loan modification, News, Real Estate Law, Short Sales, Uncategorized

Tweet By Mark Puente, Times Staff Writer   “Only 60 Floridians have received cash from a Bank of America program that pays up to $20,000 to homeowners who sell distressed properties in a short sale. The lender still expects thousands more in the Sunshine State to collect the money before the pilot program ends in August. [...]

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States where citizens carry the most mortgage debt

January 31st, 2012 · No Comments · Foreclosure, loan modification, News, Real Estate Law, Uncategorized

Tweet By Michael B. Sauter, 24/7 Wall St.   “How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble. While the average home price in these states dropped in value during the recession, [...]

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Foreclosures keep pushing house prices lower

January 30th, 2012 · No Comments · Foreclosure, loan modification, News, Real Estate Law, Short Sales, Uncategorized

Tweet By John W. Schoen, Senior Producer   “The ongoing wave of foreclosures continues to drag home prices lower. Foreclosure-related properties, which made up roughly one in five home sales in the third quarter of  last year, sold for an average 34 percent less than homes that were not  “distressed sales,” according to the latest [...]

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Tight-fisted mortgage lenders pressure home sales

January 28th, 2012 · No Comments · Commercial Loans, Foreclosure, loan modification, News, Real Estate Law, Short Sales, Uncategorized

Tweet By John W. Schoen, Senior Producer | http://bottomline.msnbc.msn.com   “Home prices have fallen by a third since 2006, creating tremendous bargains for home buyers. Mortgage rates are at rock-bottom lows, making houses more affordable than they have been in decades. Yet home sales last year fell to the lowest levels since the government began keeping records [...]

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Proposed mortgage settlement offers little relief for homeowners

January 25th, 2012 · No Comments · Commercial Loans, Foreclosure, loan modification, News, Real Estate Law, Uncategorized

Tweet By John W. Schoen, Senior Producer | msnbc.com “A proposed $25 billion settlement between five big banks, state attorneys general and the Obama administration may help resolve some of the thornier legal issues surrounding the mortgage mess that caused the housing market to collapse. It will do relatively little to stop the ongoing wave of [...]

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Bank of America agrees to $335M mortgage settlement

December 30th, 2011 · No Comments · Foreclosure, loan modification, News, Real Estate Law, Uncategorized

Tweet By: Tampa Bay Business Journal   “Bank of America agreed to pay $335 million to settle allegations that Countrywide Financial discriminated against black and Hispanic mortgage borrowers. The alleged discrimination happened before BofA purchased Countrywide in 2008, according to the Charlotte Business Journal. Bank of America (NYSE: BAC), based in Charlotte, N.C., is the largest bank by deposit [...]

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5 nasty surprises that can stop your home purchase cold

December 5th, 2011 · No Comments · loan modification, News, Short Sales, Uncategorized

Tweet By Marilyn Lewis of MSN Real Estate: “When a seller wants to sell a home and finds a buyer who wants to buy it, you’d think they’d have a deal. What could go wrong? These days, plenty. In this tough financial climate, there are both longstanding pitfalls and a crop of new ones. At best, these can [...]

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Untangling Florida’s foreclosure crisis

November 29th, 2011 · 2 Comments · Foreclosure, loan modification, News, Real Estate Law, Short Sales, Uncategorized

Tweet http://www.tampabay.com |   “Florida’s foreclosure crisis seems like a never-ending nightmare. Mortgages are caught up in MERS, an electronic database that most homeowners never heard of until the foreclosure crisis. Homeowners in foreclosure are worried that robo signing by lenders’ employees may have led to mortgage fraud. The mortgage process itself is under scrutiny [...]

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Law Firm Banned from Processing Foreclosures For Fannie Mae and Freddie Mac

November 22nd, 2011 · No Comments · Commercial Loans, Foreclosure, loan modification, News, Real Estate Law, Uncategorized

Tweet From:  www.jdjournal.com “The Steven J. Baum PC firm has been banned from handling foreclosure proceedings for Fannie Mae and Freddie Mac loans. “After Nov. 15, 2011, servicers may not refer any new Fannie Mae foreclosure or bankruptcy cases in New York to Steven J. Baum PC,” said a servicing notice from Fannie Mae that [...]

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Florida bank failures cost FDIC $10 billion

October 29th, 2011 · No Comments · Commercial Loans, Foreclosure, loan modification, News, Real Estate Law, Uncategorized

Tweet by Jeff Ostrowski | Palm Beach Post   “ore than 50 Florida-based banks have failed since August 2008, and the fallout has totaled $10.1 billion to the Federal Deposit Insurance Corp.’s Deposit Insurance Fund, by my calculations. BankUnited’s outsized failure accounted for nearly half those losses, but Orion Bank and Peoples First Community Bank [...]

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