Amid mountain of paperwork, shortcuts and forgeries mar foreclosure process
Washington Post story: http://bit.ly/9OvaSe
The nation's overburdened foreclosure system is riddled with faked documents, forged signatures and lenders who take shortcuts reviewing borrower's files, according to court documents and interviews with attorneys, housing advocates and company officials.
Thursday, September 23, 2010
Wednesday, September 22, 2010
Louisville home sales down, but slump slows
Courier-Journal story: http://bit.ly/9U9j59
Members of the Greater Louisville Association of Realtors sold 13 percent fewer houses and condos in August than a year earlier. That comes after a 22 percent drop in July from the previous July.
Courier-Journal story: http://bit.ly/9U9j59
Members of the Greater Louisville Association of Realtors sold 13 percent fewer houses and condos in August than a year earlier. That comes after a 22 percent drop in July from the previous July.
Housing Starts in August Exceeded Analysts' Forecasts
For more: http://nyti.ms/9mh1gv
Housing starts in the United States increased more than expected in August, to their highest level in four months, and permits for residential construction also rose, government data showed on Tuesday, suggesting that the embattled market was starting to stabilize after the end of a tax credit.
For more: http://nyti.ms/9mh1gv
Housing starts in the United States increased more than expected in August, to their highest level in four months, and permits for residential construction also rose, government data showed on Tuesday, suggesting that the embattled market was starting to stabilize after the end of a tax credit.
Tuesday, September 21, 2010
NYT: GMAC Halts Foreclosures in 23 States for Review
For more: http://s.nyt.com/u/mi6f
States where the moratorium is being carried out include New York, Connecticut, New Jersey, Illinois, Florida and 18 others [including Kentucky - editor], mostly on the East Coast and in the Midwest. All of the affected states are so-called judicial foreclosure states, where courts control the interactions of defaulting homeowners and their lenders.
For more: http://s.nyt.com/u/mi6f
States where the moratorium is being carried out include New York, Connecticut, New Jersey, Illinois, Florida and 18 others [including Kentucky - editor], mostly on the East Coast and in the Midwest. All of the affected states are so-called judicial foreclosure states, where courts control the interactions of defaulting homeowners and their lenders.
Monday, September 20, 2010
NYT: Layoffs Said to Be Near for Bank of America Unit
For more: http://s.nyt.com/u/mi1T
Echoing the slowdown in activity that has hit Wall Street’s biggest institutions, Bank of America plans to cut several hundred jobs in its investment banking unit this week, according to employees.
For more: http://s.nyt.com/u/mi1T
Echoing the slowdown in activity that has hit Wall Street’s biggest institutions, Bank of America plans to cut several hundred jobs in its investment banking unit this week, according to employees.
Sunday, September 19, 2010
NYT: Reasons Not to Refinance a Mortgage
For more: http://s.nyt.com/u/miwr
As with most financial matters, this decision involves a bit of math. At the very least, homeowners will need to determine their closing costs and monthly savings. Divide closing costs by savings; that tells you how many months it will take to break even. If you plan to stay put that long, a refinance might work.
For more: http://s.nyt.com/u/miwr
As with most financial matters, this decision involves a bit of math. At the very least, homeowners will need to determine their closing costs and monthly savings. Divide closing costs by savings; that tells you how many months it will take to break even. If you plan to stay put that long, a refinance might work.
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