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Foreclosures

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  • A Curious Letter to a Current Mortgage Customer Monday, 29 Aug 2011 | 4:09 PM ET
    Woman doing bills

    A borrower in Michigan recently received a letter from his mortgage servicer, CitiMortgage. It offers to discuss foreclosure alternatives, including potential eligibility for the government's mortgage bailout program. It is clear, succinct, and gives several phone numbers and contact information.

  • Number of Delinquent Mortgages on the Rise Again Monday, 22 Aug 2011 | 11:11 AM ET
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    After several quarters of improvements, the number of U.S. homeowners who are late on their mortgages increased in the second quarter, according to a survey by the Mortgage Bankers Association.

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    Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, the New York Times reports.

  • 11 Celebrity Foreclosures Friday, 19 Aug 2011 | 11:19 AM ET
    Ever since the housing crisis began, Americans have gotten used to hearing a word that only used to apply to the very desperate --- foreclosure. In the past, the word summoned to mind images of abandoned, dilapidated homes with boarded windows, a vacant porch swing and the occasional tumbleweed.Those days are over now, and the foreclosed home in move-in condition is an increasingly common sight today. It seems like something that can happen to anybody, including famous people. The idea that cele

    Fame is no longer protection from foreclosure, and neither is success. Who are some of the celebrities who have gone through a foreclosure? Find out!

  • Can Direct-Mail Keep More Customers Than Groupon? Friday, 12 Aug 2011 | 3:08 PM ET
    Open sign in window

    Short-term deals offered on Groupon and other Web site may be the wrong strategy for local businesses that need more than a temporary sales boost to survive.

  • Late Mortgage Payment Rate Continues to Decline Thursday, 11 Aug 2011 | 10:32 AM ET
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    The percentage of late-paying mortgage holders—those who were 60 days or more late with payment—decreased in the spring for the sixth straight quarter, according to credit reporting agency TransUnion.

  • Housing's Double Dip Part II: Rising Foreclosures Friday, 5 Aug 2011 | 12:21 PM ET
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    Just as we saw a double dip in home prices, we may be seeing another surge in foreclosures.

  • How Do You Fix the Housing Market? Bulldoze It Tuesday, 2 Aug 2011 | 2:49 PM ET
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    Banks have tried everything to get the glut of vacant homes on the market under control, including flat-out giving them away. But when that doesn't work, what do you do? Rev up the bulldozer.

  • Vacant Homes Will Drown Housing Recovery Wednesday, 27 Jul 2011 | 1:52 PM ET
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    A new study found, "foreclosed homes go through more than a year of very high vacancy rates following the auction and are substantially more likely to be vacant up to 60 months after the foreclosure." 

  • Affluent Buyers Reviving Market for Miami Homes Wednesday, 27 Jul 2011 | 10:53 AM ET
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    South Florida is the default capital of the country. Here in Miami-Dade County, one out of five households with mortgages is in foreclosure. Nearby Broward and Palm Beach counties are not far behind. Nearly 200,000 South Florida families are stuck in the mire of default the New York Times reports.

  • JPMorgan Files Foreclosure on R&B Artist R. Kelly Wednesday, 13 Jul 2011 | 11:43 AM ET
    R Kelly

    Fame ain't no thing for JPMorgan.

  • Bank’s Deal Means More Will Lose Their Homes Tuesday, 12 Jul 2011 | 10:04 AM ET
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    Tens of thousands of Bank of America’s most distressed borrowers could be evicted and lose their homes more quickly as a result of a proposed settlement between the bank, which is the country’s largest mortgage servicer, and investors in its troubled mortgage securities.

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    A settlement over foreclosure practices between the nation's five largest mortgage servicers and the states attorneys general will not be reached by next Tuesday.

  • $1.2 Million Mansion for $10K? Wednesday, 6 Jul 2011 | 11:52 AM ET
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  • Homeowners Get Break On Mortgage—Without Asking Sunday, 3 Jul 2011 | 10:14 AM ET
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    As millions of Americans struggle in foreclosure, big banks are going to borrowers who are not even in default and cutting their debt or easing the mortgage terms, the NY TImes reports.

  • Existing Home Sales Fall Less Than Expected Tuesday, 21 Jun 2011 | 10:00 AM ET
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    Sales of existing homes fell 3.8 percent in May, not as deep a drop as some had forecast, to a seasonally adjusted annual rate of 4.81 million units.

  • Backlog of Cases Gives a Reprieve on Foreclosures Sunday, 19 Jun 2011 | 11:13 AM ET
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    Many distressed homeowners have spent years wondering when they’re going to get kicked out. But the backlog of foreclosures has provided a reprieve. In New York, for example, it would take 62 years to process them all.

  • Foreclosure Effects Are Everywhere Thursday, 16 Jun 2011 | 12:21 PM ET
    A home is advertised for sale at a foreclosure auction in Pasadena, California.

    Every time we get the monthly foreclosure numbers from RealtyTrac, I hear someone on TV say, 'Well, the problem is really only concentrated in a handful of states." Yes, the volumes are, the problems are not.

  • Foreclosure Activity Falls, but the Worst Isn't Over Yet Thursday, 16 Jun 2011 | 12:02 AM ET
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    Delays in foreclosure proceedings and a new push by big banks and servicers to find foreclosure alternatives is drawing a new, albeit still troubling picture of the nation's real estate market.

  • Foreigners Make Run on US Housing Market Wednesday, 15 Jun 2011 | 11:12 AM ET
    Vegas Homes

    Falling home prices may be plaguing the US economy, but they are candy to foreign investors, who already have a weak dollar on their side. Buyers from overseas spent roughly $41 billion on US residential real estate last year, a bump up from the previous year. US real estate agents report a surge this Spring especially, as foreign buyers see continued pressure on home prices and ample bargains.