Nominee to Oversee Fannie and Freddie Is Named
For more: http://nyti.ms/93iobp
The nominee, Joseph A. Smith Jr., who is North Carolina’s banking commissioner, would take charge of the Federal Housing Finance Agency as the administration and Congress prepare to determine the fate of Fannie and Freddie and overhaul the government’s role in housing finance.
Saturday, November 13, 2010
Taking Aim at the Mortgage Tax Break
For more: http://nyti.ms/dxQ1XD
The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 billion in forgone revenue in 2012. Its size, popularity and link to the emotionally charged American notion of homeownership has made it so politically sacrosanct that there are serious doubts whether Congress will even entertain the idea.
For more: http://nyti.ms/dxQ1XD
The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 billion in forgone revenue in 2012. Its size, popularity and link to the emotionally charged American notion of homeownership has made it so politically sacrosanct that there are serious doubts whether Congress will even entertain the idea.
Friday, November 12, 2010
Bank of America forecloses home without a mortgage
For more: http://bit.ly/awhvEs
When Jason Grodensky bought his modest Fort Lauderdale home last December, he paid cash. But seven months later, he was surprised to learn that Bank of America had foreclosed on the house, even though Grodensky did not have a mortgage.
For more: http://bit.ly/awhvEs
When Jason Grodensky bought his modest Fort Lauderdale home last December, he paid cash. But seven months later, he was surprised to learn that Bank of America had foreclosed on the house, even though Grodensky did not have a mortgage.
Legal twist forces foreclosure redos
For more: http://bit.ly/bkWtEz
The prospect of going through a foreclosure all over again may seem nightmarish for homeowners, but in a growing number of cases the do-overs are creating opportunities for them to repossess their homes.
For more: http://bit.ly/bkWtEz
The prospect of going through a foreclosure all over again may seem nightmarish for homeowners, but in a growing number of cases the do-overs are creating opportunities for them to repossess their homes.
Thursday, November 11, 2010
US homes lost to foreclosure drops 9 pct in Oct.
For more: http://bit.ly/b5JD7d
The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled improperly.
For more: http://bit.ly/b5JD7d
The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled improperly.
Negotiations With Banks Begin for Troubled Assets
For more: http://bit.ly/ciCdqX
Two years after Washington rescued Wall Street, hundreds of billions of dollars of bad investments — in many cases, the same ones that poisoned banks and then the economy — are going up for sale.
For more: http://bit.ly/ciCdqX
Two years after Washington rescued Wall Street, hundreds of billions of dollars of bad investments — in many cases, the same ones that poisoned banks and then the economy — are going up for sale.
Wednesday, November 10, 2010
Latest Mortgage Fraud Crisis May Help Homeowners Keep Their Homes
For more: http://bit.ly/b6whuX
Not everyone agrees that the errors are mere technicalities, however. It could be that the banks are trying to circumvent the law. Currently, there is a joint investigation by all 50 State Attorneys General as well as a federal probe into the extent of the documentation fraud. Some bankruptcy judges have refused to allow foreclosures to continue, telling the banks that they have not been able to sufficiently prove ownership of the mortgage and, until they do, they are not entitled to repayment of the debt.
For more: http://bit.ly/b6whuX
Not everyone agrees that the errors are mere technicalities, however. It could be that the banks are trying to circumvent the law. Currently, there is a joint investigation by all 50 State Attorneys General as well as a federal probe into the extent of the documentation fraud. Some bankruptcy judges have refused to allow foreclosures to continue, telling the banks that they have not been able to sufficiently prove ownership of the mortgage and, until they do, they are not entitled to repayment of the debt.
Tuesday, November 9, 2010
Further investigations into mortgage fraud
For more: http://bit.ly/dc703N
JP Morgan and Chase have announced it will resume the processing of foreclosures in a few weeks. This comes after the probing of lender's practices, in how they were foreclosing on property. Bank of America and Ally Financial (GMAC) have already resumed the foreclosure process and have already stated they have found no fault in how they have been processing homes that have gone into foreclosure.
For more: http://bit.ly/dc703N
JP Morgan and Chase have announced it will resume the processing of foreclosures in a few weeks. This comes after the probing of lender's practices, in how they were foreclosing on property. Bank of America and Ally Financial (GMAC) have already resumed the foreclosure process and have already stated they have found no fault in how they have been processing homes that have gone into foreclosure.
Loan modifications are a joke -- and it's on you
For more: http://bit.ly/dje5J6
According to the latest data from the Federal Reserve “approximately 3 percent of the seriously delinquent borrowers received a concessionary modification in the year following their first serious delinquency, while fewer than 8 percent received any type of modification,” at all! Nonetheless, everyone is hawking loan mods these days.
For more: http://bit.ly/dje5J6
According to the latest data from the Federal Reserve “approximately 3 percent of the seriously delinquent borrowers received a concessionary modification in the year following their first serious delinquency, while fewer than 8 percent received any type of modification,” at all! Nonetheless, everyone is hawking loan mods these days.
At Legal Fringe, Empty Houses Go to the Needy
For more: http://nyti.ms/amUSKg
Save Florida Homes Inc. and its owner, Mark Guerette, have found foreclosed homes for several needy families here in Broward County, and his tenants could not be more pleased. Fabian Ferguson, his wife and two children now live a two-bedroom home they have transformed from damaged and abandoned to full and cozy.
For more: http://nyti.ms/amUSKg
Save Florida Homes Inc. and its owner, Mark Guerette, have found foreclosed homes for several needy families here in Broward County, and his tenants could not be more pleased. Fabian Ferguson, his wife and two children now live a two-bedroom home they have transformed from damaged and abandoned to full and cozy.
Monday, November 8, 2010
About Title Insurance Coverage and Prices
For more: http://bit.ly/bkzEHZ
You might just be wondering, "What does title insurance cover," or "What are reasonable title insurance prices?" This article takes the time to answer these and other important questions.
For more: http://bit.ly/bkzEHZ
You might just be wondering, "What does title insurance cover," or "What are reasonable title insurance prices?" This article takes the time to answer these and other important questions.
Lawmaker Questions Power to Foreclose
For more: http://on.wsj.com/aJrTT9
A Virginia lawmaker asked the state's attorney general to launch an investigation of Mortgage Electronic Registration Systems, the middleman firm in millions of court filings that helps keep the mortgage-securitization machine moving.
For more: http://on.wsj.com/aJrTT9
A Virginia lawmaker asked the state's attorney general to launch an investigation of Mortgage Electronic Registration Systems, the middleman firm in millions of court filings that helps keep the mortgage-securitization machine moving.
Title insurance providers: 90% profit?
For more: http://bit.ly/d4osnj
When you learn that title insurance companies pay out less than 10 cents in claims out of every dollar they collect in premiums, as a homeowner, you are inclined to think that you ought to stop whatever you’re doing and become a title insurer yourself, whatever it is title insurers do.
For more: http://bit.ly/d4osnj
When you learn that title insurance companies pay out less than 10 cents in claims out of every dollar they collect in premiums, as a homeowner, you are inclined to think that you ought to stop whatever you’re doing and become a title insurer yourself, whatever it is title insurers do.
Private Lending For Real Estate
For more: http://bit.ly/cbuDPl
In today’s uncertain market, homeowners, investors, borrowers, and brokers are quickly learning that private real estate lending is an excellent alternative to traditional bank loans to obtain a quick, hassle free private loan or refinance.
For more: http://bit.ly/cbuDPl
In today’s uncertain market, homeowners, investors, borrowers, and brokers are quickly learning that private real estate lending is an excellent alternative to traditional bank loans to obtain a quick, hassle free private loan or refinance.
Homeowners say loan mods led them to foreclosure
For more: http://bit.ly/9UrOxV
Some struggling homeowners say they're being unfairly foreclosed on despite making all their payments under trial mortgage modification programs.
For more: http://bit.ly/9UrOxV
Some struggling homeowners say they're being unfairly foreclosed on despite making all their payments under trial mortgage modification programs.
Sunday, November 7, 2010
Recessed | Helping owners hang on to homes
For more: http://bit.ly/dBR0dd
Free clinics are held twice a week at the Louisville Legal Aid Society and provide homeowners with a timeline of foreclosure proceedings and possible alternatives.
For more: http://bit.ly/dBR0dd
Free clinics are held twice a week at the Louisville Legal Aid Society and provide homeowners with a timeline of foreclosure proceedings and possible alternatives.
Taking 2nd Mortgage to Pay the Foreclosure Lawyer
For more: http://nyti.ms/aEj5aK
The new mortgage, which takes effect only if the foreclosure is dismissed and the homeowner’s debt to the bank is reduced, is controversial among defense lawyers, some of whom call it “creepy” and “crass.” Yet even they acknowledge it offers a solution to a vexing question: How do they get paid?
For more: http://nyti.ms/aEj5aK
The new mortgage, which takes effect only if the foreclosure is dismissed and the homeowner’s debt to the bank is reduced, is controversial among defense lawyers, some of whom call it “creepy” and “crass.” Yet even they acknowledge it offers a solution to a vexing question: How do they get paid?
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