All Posts Tagged With: "foreclosure"
100 to 1 — Obama Mortgage Modification Plan Tops Bush
Just about every posting regarding the Obama mortgage modification program says it’s a dud. Those on the left say not enough has been done, those on the right say too many homeowners are washing out of the program. What’s too often left out is any sense of context.
The reality is that the Obama loan modification [...]
Military Borrowers Squeezed Out of Distressed Markets
Purchasing a home in a distressed real estate market can present some unique challenges for military buyers, not just in hard-hit states like Nevada and California but across the country.
Active duty service members and veterans in some parts of the country are getting pushed out of the foreclosure market, hampered by a combination of cash [...]
Why Foreclosure Prevention Is Not Enough
Fannie Mae has opened a new consumer education site which it says “outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions.”
The site, Know Your Options.com, has the usual bells and whistles for a [...]
Foreclosure Trends Show Little Love In 2010
Foreclosure filings dropped 7 percent in June when compared with a year ago, but that’s good news only in a relative sense. Once again, foreclosure filings topped 300,000 in a single month. According to RealtyTrac June was the 16th month in a row we’ve seen such a high level of foreclosure activity.
Other results from RealtyTrac [...]
Quarterly Foreclosures Down 33% From 2009
Foreclosure activity in the first quarter was down 33% when compared with a year ago but huge discounts remain with pre-foreclosure (14.77%), foreclosure (26.7%) and lender-owned properties (34.04%), according to RealtyTrac.
The RealtyTrac numbers — which are used by HUD as part of its monthly housing scorecard — show that savvy buyers are purchasing large [...]
Fannie Mae Gets Tough With Mortgage Loan Walk-Aways
In a new get-tough mode, Fannie Mae says it will cut off mortgage financing for as long as seven years in cases where borrowers walk away from mortgage loans. In addition, Fannie Mae says it will seek deficiency judgments when possible.
Borrowers don’t have to walk away, says the company. “Troubled borrowers who work with their [...]
FTC Seeks Halt To Mortgage & Foreclosure Relief Programs
The federal government is seeking to shut down more than a dozen firms which supply mortgage modification or foreclosure relief services.
According to the Federal Trade Commission, the government has sought to ban more than a dozen marketers from selling mortgage relief and foreclosure relief services, in one instance seeking $11.4 million for contempt.
The release from [...]
Mortgage Loan Relief For BP Spill Victims
Homeowners impacted by the BP oil spill are getting mortgage relief from Fannie Mae and Freddie Mac, the two largest mortgage owners. In general terms, the loan relief offered by the two companies follows the emergency policies both have had in place following such disasters as hurricanes Katrina, Rita and Wilma.
Relief
In the usual case, disaster [...]
Veterans, VA Loans Weather Wave of Foreclosures
Foreclosure filings dipped slightly in May as the nation’s lenders continued to slog through almost two years’ worth of distressed properties, according to online foreclosure hub RealtyTrac.
Ten states accounted for more than 70 percent of the 322,920 filings last month. California alone accounted for more than 22 percent of that total. In all, foreclosure filings nationwide [...]
This Mortgage Lender Is A Fake (Don’t Just Take Our Word For It)
You can’t help but wonder about the good folks at Esteemed Lending Services. They seem so sure, so certain, so familiar….
If you want a mortgage, Esteemed has one for you. Recent bankruptcy? No problem? A foreclosure last month? So what. Less income? They can work with you.
And help with short sales? Who could possibly do [...]
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