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Entries Tagged as 'Uncategorized'

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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Homeowners lose mortgage insurance tax deduction

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

Tweet By Kenneth R. Harney | tampabay.com   “Mortgage insurance tax break evaporates WASHINGTON — Though its demise drew little attention because of the partisan year-end brawl over the payroll tax cut extension in Congress, a key mortgage financing benefit disappeared at the end of 2011: The ability of large numbers of homebuyers and owners to [...]

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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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Old mortgages rise from the dead, haunt homeowners

January 29th, 2012 · No Comments · Foreclosure, News, Real Estate Law, Uncategorized

Tweet By Michelle Conlin   “In July 2009, Roy and Sheila Bowers refinanced the mortgage on their suburban ranch home in Topeka, Kansas. The couple wanted to take advantage of the low interest rates that were all the rage at the time. Roy, a truck driver, and Sheila, a former hotel housekeeping supervisor, knew their new [...]

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Banks square in mortgage fraud crosshairs again

January 28th, 2012 · No Comments · Foreclosure, News, Real Estate Law, Uncategorized

Tweet By John W. Schoen, Senior Producer | http://bottomline.msnbc.msn.com   “In the Wild West of the ongoing mortgage mess, there’s a new sheriff in town. And he’s not handing “Get Out of Jail Free” cards in return for a $25 billion check. The appointment of New York Attorney General Eric Schneiderman to head a special task [...]

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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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Home buying could soon beat renting

January 25th, 2012 · No Comments · News, Real Estate Law, Uncategorized

Tweet By John W. Schoen, Senior Producer | msnbc.com “Falling home prices have sent many would-be buyers to the sidelines. If all goes well, record low interest rates and rising rents may soon prompt some of them to take a second look at buying. Unfortunately, that’s a big “if,” according to Paul Diggle, a housing [...]

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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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