Mistakes First-Time Home Buyers Make
For more: http://nyti.ms/bo9L4F
My husband and I are in the market to buy our first home. After looking for months, we were convinced last week that we had finally found a property that fit our requirements. We made an offer and, after a bit of negotiating, it was accepted. But a few days later, we were celebrating for a different reason: We had just backed out of the deal before any penalties kicked in, thankful it was just a learning experience.
Saturday, November 6, 2010
Banks Brace for Costly Fights Over Mortgage Mess
For more: http://nyti.ms/aQgZUD
Even as investors put aside their worries on Friday about the effect of the foreclosure mess on bank stocks, new signs emerged of what is likely to be a long and expensive legal battle for the financial services industry over mortgages gone bad.
For more: http://nyti.ms/aQgZUD
Even as investors put aside their worries on Friday about the effect of the foreclosure mess on bank stocks, new signs emerged of what is likely to be a long and expensive legal battle for the financial services industry over mortgages gone bad.
Dividends From Fannie and Freddie Surpass Aid
For more: http://nyti.ms/cWCS7X
Fannie Mae reported Friday that it lost $3.5 billion in the third quarter and that it would require an additional $2.5 billion from the Treasury Department to balance its books. Freddie Mac, the smaller of the two, said earlier this week that it lost $4.07 billion in the third quarter and that it would need an additional $100 million in aid from taxpayers.
For more: http://nyti.ms/cWCS7X
Fannie Mae reported Friday that it lost $3.5 billion in the third quarter and that it would require an additional $2.5 billion from the Treasury Department to balance its books. Freddie Mac, the smaller of the two, said earlier this week that it lost $4.07 billion in the third quarter and that it would need an additional $100 million in aid from taxpayers.
EDITORIAL: Learning to Love Foreclosures?
For more: http://nyti.ms/czGBKy
In the most recent mortgage mess, the Obama administration has — oddly and disturbingly — been arguing that foreclosures are, in effect, good for the economy and should proceed apace as banks get their snarled paperwork in order.
For more: http://nyti.ms/czGBKy
In the most recent mortgage mess, the Obama administration has — oddly and disturbingly — been arguing that foreclosures are, in effect, good for the economy and should proceed apace as banks get their snarled paperwork in order.
Buying time on foreclosures -- Louisville man hangs on
For more: http://bit.ly/b11HBE
Earl W. Nelson doesn't dispute that it's been nearly a year, maybe longer, since he made a mortgage payment on his house in the Taylor-Berry neighborhood off Algonquin Parkway.
For more: http://bit.ly/b11HBE
Earl W. Nelson doesn't dispute that it's been nearly a year, maybe longer, since he made a mortgage payment on his house in the Taylor-Berry neighborhood off Algonquin Parkway.
Friday, November 5, 2010
Making Mortgage Lending a Family Affair
For more: http://nyti.ms/988d4Q
With all the news about faulty foreclosures, “even a dysfunctional family could look like a financial refuge right now,” said Deborah L. Jacobs, author of the book “Estate Planning Smarts.”
For more: http://nyti.ms/988d4Q
With all the news about faulty foreclosures, “even a dysfunctional family could look like a financial refuge right now,” said Deborah L. Jacobs, author of the book “Estate Planning Smarts.”
Bank of America Fights Pressure on Mortgages
For more: http://nyti.ms/a3c8F4
Bank of America on Thursday rebuffed claims by a lawyer for several big investors, including the Federal Reserve Bank of New York, that it should buy back troubled mortgages because the loans were made improperly.
For more: http://nyti.ms/a3c8F4
Bank of America on Thursday rebuffed claims by a lawyer for several big investors, including the Federal Reserve Bank of New York, that it should buy back troubled mortgages because the loans were made improperly.
Thursday, November 4, 2010
Let's Set the Record Straight on Bank of America: Open the Books!
For more: http://huff.to/aDvkxg
While we welcome Bank of America's response to our two-part essay, "Foreclose on the Foreclosure Fraudsters," it does not actually respond to any of the facts or analytical points we made. Indeed, it does not engage the issues we raised. Bank of America's response contains some useful data on foreclosures that supports points we have made in prior articles, but overwhelmingly it is a plea for sympathy; Bank of America says it is beset by deadbeat borrowers and it is distressed that it is criticized when it forecloses on their homes. Bank of America portrays itself as the victim of an ungrateful public.
For more: http://huff.to/aDvkxg
While we welcome Bank of America's response to our two-part essay, "Foreclose on the Foreclosure Fraudsters," it does not actually respond to any of the facts or analytical points we made. Indeed, it does not engage the issues we raised. Bank of America's response contains some useful data on foreclosures that supports points we have made in prior articles, but overwhelmingly it is a plea for sympathy; Bank of America says it is beset by deadbeat borrowers and it is distressed that it is criticized when it forecloses on their homes. Bank of America portrays itself as the victim of an ungrateful public.
Foreclosure limbo grinds down potential buyers
For more: http://bit.ly/aNikTJ
Josh and Tayla Thomforde thought they had a deal to buy a three-bedroom house with a fenced-in backyard and room for their family to grow. But the nation's latest foreclosure quagmire scuttled their plans.
For more: http://bit.ly/aNikTJ
Josh and Tayla Thomforde thought they had a deal to buy a three-bedroom house with a fenced-in backyard and room for their family to grow. But the nation's latest foreclosure quagmire scuttled their plans.
FBI continues search for couple behind mortgage scam
For more: http://bit.ly/b4Zeqe
The couple persuaded distressed homeowners to sign over their properties, promising to invest the proceeds of the home sales. Instead, they spent the money on themselves.
For more: http://bit.ly/b4Zeqe
The couple persuaded distressed homeowners to sign over their properties, promising to invest the proceeds of the home sales. Instead, they spent the money on themselves.
Title Insurance Companies Initiate Move to Protect Industry
For more: http://bit.ly/aAD5UN
Fidelity National Financial is reportedly leading the campaign launched by title insurance companies in the U.S. to demand that the industry be indemnified from any potential fallout that will be caused by the ongoing nationwide probe on lenders' foreclosure processing methods.
For more: http://bit.ly/aAD5UN
Fidelity National Financial is reportedly leading the campaign launched by title insurance companies in the U.S. to demand that the industry be indemnified from any potential fallout that will be caused by the ongoing nationwide probe on lenders' foreclosure processing methods.
Foreclosure Investigation by States to Stay on Track
For more: http://nyti.ms/b4mZNX
Though some of the players will change, the coordinated effort by attorneys general across the country to investigate — and ultimately reshape — foreclosure procedures is not expected to lose momentum because of Tuesday’s election.
For more: http://nyti.ms/b4mZNX
Though some of the players will change, the coordinated effort by attorneys general across the country to investigate — and ultimately reshape — foreclosure procedures is not expected to lose momentum because of Tuesday’s election.
Fannie and Freddie Face Uncertain Future
For more: http://nyti.ms/aNeM97
House Republicans have made punching bags of Fannie Mae and Freddie Mac, criticizing the federal bailout of the mortgage giants and promising to end the government’s longstanding use of the companies to reduce the cost of mortgage loans.
For more: http://nyti.ms/aNeM97
House Republicans have made punching bags of Fannie Mae and Freddie Mac, criticizing the federal bailout of the mortgage giants and promising to end the government’s longstanding use of the companies to reduce the cost of mortgage loans.
Wednesday, November 3, 2010
An Effort to Adapt a European-Style Tool to U.S. Mortgages
For more: http://nyti.ms/aSpynk
Covered bonds, a financing tool that has been popular in Europe since the 18th century, are winning converts here as a new way to finance residential and commercial mortgages.
For more: http://nyti.ms/aSpynk
Covered bonds, a financing tool that has been popular in Europe since the 18th century, are winning converts here as a new way to finance residential and commercial mortgages.
Fannie and Freddie Drop Florida Law Firm
For more: http://nyti.ms/bnYq4S
The government-sponsored companies, which own or guarantee more than half of the nation’s mortgage market, ended dealings with the firm, David J. Stern PA, after it came under scrutiny from the Florida attorney general’s office amid claims that documents used in home seizures were fraudulent or improperly prepared.
For more: http://nyti.ms/bnYq4S
The government-sponsored companies, which own or guarantee more than half of the nation’s mortgage market, ended dealings with the firm, David J. Stern PA, after it came under scrutiny from the Florida attorney general’s office amid claims that documents used in home seizures were fraudulent or improperly prepared.
Tuesday, November 2, 2010
Banks Versus Title Insurers On Liabilities Regarding Foreclosure Errors
For more: http://bit.ly/9Mm9Mb
It’s a great risk that banks are taking by refusing to cooperate with title insurers. Title insurance is helping wipe out the bloated inventory of distressed properties in the market. If title insurers decide to withdraw from protecting distressed properties, a lot of foreclosed homes in the United States may remain unsold.
For more: http://bit.ly/9Mm9Mb
It’s a great risk that banks are taking by refusing to cooperate with title insurers. Title insurance is helping wipe out the bloated inventory of distressed properties in the market. If title insurers decide to withdraw from protecting distressed properties, a lot of foreclosed homes in the United States may remain unsold.
How Can the Foreclosure Crisis Eventually Affect All of Us?
For more: http://bit.ly/awYxVk
The foreclosure crisis engulfing the real estate market has far reaching implications for all of us. In fact, many of us might not have realized the havoc this fiasco could wreak upon not only upon those whose houses were wrongly foreclosed, but also upon those of us owning a house and those of us thinking about purchasing one.
For more: http://bit.ly/awYxVk
The foreclosure crisis engulfing the real estate market has far reaching implications for all of us. In fact, many of us might not have realized the havoc this fiasco could wreak upon not only upon those whose houses were wrongly foreclosed, but also upon those of us owning a house and those of us thinking about purchasing one.
Foreclosure Mess Takes A Turn For The Worse!
For more: http://bit.ly/bbXEyj
Title insurance is no longer issued on Washington DC Foreclosures of formerly owner occupied properties!
For more: http://bit.ly/bbXEyj
Title insurance is no longer issued on Washington DC Foreclosures of formerly owner occupied properties!
Four plead guilty to mortgage fraud
For more: http://bit.ly/97GA3y
Four South Florida residents pleaded guilty Monday to charges they engaged in a mortgage fraud scheme involving properties in the Wellington subdivision of Versailles.
For more: http://bit.ly/97GA3y
Four South Florida residents pleaded guilty Monday to charges they engaged in a mortgage fraud scheme involving properties in the Wellington subdivision of Versailles.
Monday, November 1, 2010
Bank Pushback May Doom Title Insurance Deal
For more: http://bit.ly/9Hg0de
Banks are reluctant to sign a sort of model industry agreement to take on insurers' legal costs, because it could expose them to the suggestion they did something wrong, industry representatives said.
For more: http://bit.ly/9Hg0de
Banks are reluctant to sign a sort of model industry agreement to take on insurers' legal costs, because it could expose them to the suggestion they did something wrong, industry representatives said.
How the Banks Put the Economy Underwater
For more: http://nyti.ms/aPlvOQ
In Congressional hearings last week, Obama administration officials acknowledged that uncertainty over foreclosures could delay the recovery of the housing market. The implications for the economy are serious. For instance, the International Monetary Fund found that the persistently high unemployment in the United States is largely the result of foreclosures and underwater mortgages, rather than widely cited causes like mismatches between job requirements and worker skills.
For more: http://nyti.ms/aPlvOQ
In Congressional hearings last week, Obama administration officials acknowledged that uncertainty over foreclosures could delay the recovery of the housing market. The implications for the economy are serious. For instance, the International Monetary Fund found that the persistently high unemployment in the United States is largely the result of foreclosures and underwater mortgages, rather than widely cited causes like mismatches between job requirements and worker skills.
EDITORIAL: More on the Mortgage Mess
For more: http://nyti.ms/9KUMd3
Consumer advocates, the press, investors and homeowners have already compiled a compelling list of transgressions: conflicts of interest that have banks pushing foreclosures, without a good-faith effort to modify troubled loans. Dubious fees that inflate mortgage balances. The hundreds of thousands of flawed foreclosure affidavits that violated homeowners’ legal protections. The misplaced documents. And it goes on.
For more: http://nyti.ms/9KUMd3
Consumer advocates, the press, investors and homeowners have already compiled a compelling list of transgressions: conflicts of interest that have banks pushing foreclosures, without a good-faith effort to modify troubled loans. Dubious fees that inflate mortgage balances. The hundreds of thousands of flawed foreclosure affidavits that violated homeowners’ legal protections. The misplaced documents. And it goes on.
Debt Collectors Face a Hazard: Writer’s Cramp
For more: http://nyti.ms/9TxTra
When Michael Gazzarato took a job that required him to sign hundreds of affidavits in a single day, he had one demand for his employer: a much better pen. “They tried to get me to do it with a Bic, and I wasn’t going — I wasn’t having it,” he said. “It was bad when I had to use the plastic Papermate-type pen. It was a nightmare.”
For more: http://nyti.ms/9TxTra
When Michael Gazzarato took a job that required him to sign hundreds of affidavits in a single day, he had one demand for his employer: a much better pen. “They tried to get me to do it with a Bic, and I wasn’t going — I wasn’t having it,” he said. “It was bad when I had to use the plastic Papermate-type pen. It was a nightmare.”
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