36,000 in Massachusetts Alone are Living Long-Term in Foreclosed Homes
According to mortgage data processor Lender Processing Services, Inc., About 36,000 Massachusetts property owners are living – and have been living – rent- and mortgage-free in their homes as they...
View ArticleFHA Audit Could Send Reverse Mortgages Into Default
When senior citizens opt to take out a reverse mortgage on their homes, most opt to do so in order to generate monthly income and to remove the burden of a mortgage payment from their budget. Now,...
View ArticleForeclosure Filings are Down, Thanks to Questions of Procedure
2011 was supposed to be the year that the housing market finally bottomed out and the foreclosure “tsunami” worked its way through the banking system and into the open market. It was supposed to be a...
View ArticleForeclosures on the West Coast Reach Pre-Robo-Signer Volumes
While the rates of foreclosure in many states in the east have slowed to a crawl as judges, courts, homeowners and lenders struggle to determine just how to handle the continuing fallout from the...
View ArticleMaryland County Charging for Foreclosure Maintenance
When a homeowner loses a property to foreclosure, most would expect that at least the loss would lead to the removal of a burden from their back. After all, when the bank takes back the property; one...
View ArticleUtah Bankers Call Loan Mods Virtually Impossible
According to the president of the Utah Bankers Association (UBA), Howard Headlee, it is “virtually impossible” for homeowners in the foreclosure process to renegotiate the terms of their loans. This...
View ArticleRobo-Signer Fallout: Foreclosure Homes May Not Be So Appealing
In Florida, the fallout from the robo-signer debacle last fall is still ongoing, and it is impacting one of the most important aspects of the real estate market today: foreclosures. In South Florida,...
View ArticleShadow Inventory Represents Looming Disaster, but Purge-Time is Getting Shorter
Although “millions of distressed properties could be put up for sale at any moment” should lenders decide to release the many foreclosures that they are holding off the market onto the market at once,...
View ArticleNew Mass-Refinancing Plan on the Table
The White House is considering a mass-refinancing plan that would enable homeowners with government-backed mortgages to refinance into today’s low interest rates. The Obama administration hopes that if...
View ArticleAngry Neighbors Alert Buyers to Problems with Blighted House
In one Florida neighborhood, the neighbors are tired of dealing with absent property owners and they are taking matters into their own hands. While the measure will probably not help the property sell...
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