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Entries Tagged as 'loan modification'

SF audit finds foreclosures riddled with errors

February 21st, 2012 · No Comments · Commercial Loans, Foreclosure, Litigation, loan modification, News, Real Estate Law, Uncategorized

Tweet By GRETCHEN MORGENSON   “An audit by San Francisco county officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation, according to a report released Wednesday. Anecdotal evidence indicating foreclosure abuse has been plentiful since the mortgage boom turned to bust in 2008. But the detailed and [...]

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foreclosure bill Updates

February 21st, 2012 · No Comments · Foreclosure, Litigation, loan modification, News, Real Estate Law, Uncategorized

Tweet by Kim Miller | Palm Beach Post   “The Senate Judiciary Committee approved this morning its version of a quickie foreclosure bill that would reduce the amount of time a bank could pursue a homeowner for back debt, and aims to rapidly churn through cases where a home is abandoned. The 5-2 vote in [...]

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Delray Beach foreclosure scam companies to pay $59,000 in restitution

February 21st, 2012 · 1 Comment · Foreclosure, Litigation, loan modification, News, Real Estate Law, Uncategorized

Tweet by Kim Miller | Palm Beach Post “Three Delray Beach companies accused by the state of bilking hundreds of homeowners in a foreclosure rescue scam have agreed to settle the complaint for $59,000. Florida Attorney General Pam Bondi’s office announced the settlement with Home Owner Protection Economics, Inc. DC Financial Group, and Deleverage America, [...]

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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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