U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble.» Read More
To protect homeowners seeking loan modifications, California banned payment to lawyers before the work was done. Now lawyers say they cannot afford to help, The New York Times reports.
The effects of the so-called "Robo-signing" scandal showed up in drastic numbers in a new report today from RealtyTrac. The number of properties receiving some kind of foreclosure filing fell 21 percent month to month and 14 percent year over year.
Foreclosures fell dramatically in November, but it was mostly due to bank foreclosure freezes and the holiday slowdown, a report released Thursday said.
Bank of America restarted about 16,000 home foreclosure cases across the United States earlier this week, a company spokesman said Friday.
We know that there are investors out there looking to get into the market, and that's a good thing, especially since investors are almost exclusively all-cash these days. But there aren't enough investors to soak it all up, so we have to look to the demand side for regular, organic buyers.
Sources on both sides of the 50-state attorney's general investigation into so-called "robo-signing" foreclosure practices tell me they are nearing a settlement.
In California’s Simi Valley, 4,000 employees of Bank of America handle 50,000 calls a day about mortgages and homes in peril, the New York Times reports.
Foreclosure filings were reported on 332,172 properties in October, according to RealtyTrac. That's a 4 percent drop from the previous month and unchanged from October of 2009. While notices of default, the initial stage of the process, fell about 2 percent, the big drop was in bank repossessions, down 9 percent from the previous month.
Foreclosure activity dropped over 4 percent in October because of a foreclosure moratorium headed by mortgage lenders, according to a report by RealtyTrac released Thursday.
Big lenders like Chase, Wells Fargo and PHH have increased their jumbo volumes by a lot in just the first six months of this year.
Do-it-yourself house possession cases have been popping up all over the country — and these self-proclaimed owners play an odd role in a real-estate mess that never seems to end. The NYT reports.
The combined Real Estate Owned inventory of the three rose 24 percent quarter to quarter and 93 percent year over year.
The Pending Homes Sales Index fell 1.8 percent in September...the first indicator of the foreclosure scandal's impact on potential buyers.
The nation's homeownership rate remained at its lowest in more than a decade, hampered by a rise in foreclosures and weak demand for housing.
Foreclosure "actions" in Q3, which include anything from default notices to bank repossessions, rose in 65 percent of the nation's top 200 housing markets.
Bank of America and GMAC are firing up their formidable foreclosure machines again, after a brief pause, but homeowners are asking why lenders often balk at short sales. The New York Times reports.
The foreclosure process in the US is slowing, enabling delinquent borrowers to stay in their homes for months after they stop making mortgage payments, according to one of the largest lenders. The FT reports.
With a surge in lawsuits against law firms specializing in foreclosures, a case in Mississippi is casting light on another aspect of the mortgage mess — the connection between Wall Street private equity firms and those law firms, often known as foreclosure mills.
Things are kinda rough a mere 37 years after 1973, and now the home made famous in that film for its spaceship design is in foreclosure.
As I suspected would happen, the Obama administration is changing the foreclosure conversation.