Jon Coats Law Blog

Jon Coats Law Blog header image 4

Entries Tagged as 'jon coats law blog'

Mortgage relief: Partial solution better than none

February 7th, 2012 · No Comments · Foreclosure, News

Tweet By John Schoen | http://bottomline.msnbc.msn.com   “As the clock ticks down on year-long negotiations on a sweeping mortgage relief settlement, the architects of the joint state-federal plan believe it would be better for homeowners to get a partial deal than nothing at all, according to sources close to the talks. Facing a Monday deadline, attorneys general in all 50 [...]

[Read more →]

Tags:·····················

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. [...]

[Read more →]

Tags:···························

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, [...]

[Read more →]

Tags:·················

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 [...]

[Read more →]

Tags:··················

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 [...]

[Read more →]

Tags:····················

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 [...]

[Read more →]

Tags:···················

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 [...]

[Read more →]

Tags:··················

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 [...]

[Read more →]

Tags:··················

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 [...]

[Read more →]

Tags:···············

Home purchase fell through — now what?

December 3rd, 2011 · No Comments · News, Real Estate Law, Uncategorized

Tweet By Marcie Geffner of Bankrate.com   “Most homebuyers sign real-estate purchase contracts in good faith, but sometimes not even the best of intentions can ensure the deal will close. If the home purchase “falls out,” a buyer might wonder how that will affect his ability to buy another property from a different seller. For most buyers, the [...]

[Read more →]

Tags:············