Foreclosure
Obama’s $26 Billion Foreclosure Fraud Fix Was Just A Settlement For Big Banks
On November 19th, the core of the Obama “Justice” Department’s “49 State Settlement,” of the millions of fraud claims by the suing mortgagees against the mega-banks who were trying to foreclose on robo-signed and other dubious mortgages, was finally announced, and it basically gave the mega-banks what they wanted: all of the money they could […]
Foreclosed family watches helplessly as craigslist crowds strip house bare (Wake up America)
WOODSTOCK, Ga. — A family in Woodstock, who just lost their home of 20 years to foreclosure and are preparing to move out, lost even more on Wednesday. And it was because of what they triggered when they posted a craigslist ad Tuesday night. Their online post was just a well-meaning ad for a giveaway in their […]
September home foreclosures top 100,000 for first time
(Reuters) - The number of homes taken over by banks topped 100,000 for the first time in September, though foreclosures are expected to slow in coming months as lenders work through questionable paperwork, real estate data company RealtyTrac said on Thursday.
Banks foreclosed on 102,134 properties in September, the first single month […]
One in 10 Mortgage Holders Faces Foreclosure (While Obama is enjoying his vacation, summer recovery marches on)
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government’s efforts to help have had little impact stemming the housing crisis.About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.
That number, which is adjusted […]
Over 650,000 Home Owners Stop Paying Mortgage … and Stop Fretting About It
ST. PETERSBURG, Fla. — For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of. Your Money Guides
Alex Pemberton and Susan Reboyras stopped paying the mortgage on their house in St. Petersburg, Fla., last summer. Foreclosure has allowed […]
Foreclosure rates surge, biggest jump in 5 years (Where is Obama’s Hope and Change?)
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped […]
Foreclosure rates surge, biggest jump in 5 years
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped […]
Housing Market Predictions for 2010
Published by John Mulkey, Housing Guru
Okay, I’m going to do something I normally avoid; I’m going out on a limb and publicize my housing predictions for 2010. While I occasionally discuss general trends and opinions about the market, I think it’s important for all of us to have as much information as possible in order […]
Mortgage delinquencies rise to nearly 14 percent
Delinquencies on mortgages rose to nearly 14 percent in late 2009, led by a sharp increase in seriously overdue home loans held by the most credit-worthy borrowers, U.S. banking regulators said on Thursday.
It was also down 3.9 percent from a year earlier.
The decline was attributable to a 21.1 percent jump in mortgages 90 or more […]
Rampant Mortgage Delinquencies Splashing Cold Water On Housing Rescue Efforts
More U.S. mortgages are becoming delinquent than are being fixed, still, according to latest January data from Lender Processing Services.
Nearly 7.5 million home loans are either delinquent or in foreclosure and despite the approximately 2 million loan modifications in the U.S. from January 2009 to January 2010, the number of new delinquencies across the period […]
Report: One in Five U.S. homeowners underwater
NEW YORK - One of every five U.S. homeowners owed more on their mortgage than their home was worth in the fourth quarter, a trend that poses a serious threat to the U.S. housing market’s recovery, real estate Web site Zillow.com said on Wednesday.
Homeowners with “underwater” mortgages are more prone to defaults and foreclosures. They […]
U.S. Foreclosure Filings Surpass 300,000 for 11th Month in Row
What a bunch of YAHOO’S in Washington DC. Government and Banks can jump into bed and be IMMORAL and skrew the American People time and time again, however, the American people are expected to continue to do the honorable thing and keep putting good money after bad so to speak with their home values plummeting.
AMERICAN […]
Barney Frank: The Poor Should Rent, Not Own (Liberal admits disastrous mistake)
Barney Frank: The Poor Should Rent, Not Own
In its final installment of the Big Think’s “Went Went Wrong” Series on the financial crisis, they interviewed Financial Services Committee Chairman Barney Frank (D-MA). Much of the interview was predictable: Frank mostly explained what anyone closely following the financial regulation push in Congress already knew. But there […]
December home sales down nearly 17%; Largest monthly drop in more than 40 years
Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.The report reflects a sharp drop in demand after buyers stopped scrambling to qualify for a tax credit of up to $8,000 for […]
Foreclosures: ‘Worst three months of all time’
Despite signs of broader economic recovery, number of foreclosure filings hit a record high in the third quarter - a sign the plague is still spreading.
Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.
“They were the worst […]
US Foreclosures Continued to Rise in Third Quarter
The number of Americans receiving a foreclosure notice in the third quarter continued to grow, according to a new report, despite government programs intended to attack the problem.
(Excerpt) Read more at cnbc.com …
WSJ: Delayed Foreclosures and “Shadow” Inventory
From Ruth Simon and James Hagerty at the WSJ: Delayed Foreclosures Stalk Market
… Legal snarls, bureaucracy and well-meaning efforts to keep families in their homes are slowing the flow of properties headed toward foreclosure sales, even when borrowers are in deep distress. … some analysts believe the delays are … creating a growing “shadow” inventory […]
We Were Warned:U.S. “option” mortgages to explode, officials warn
The federal government and states are girding themselves for the next foreclosure crisis in the country’s housing downturn: payment option adjustable rate mortgages that are beginning to reset.
“Payment option ARMs are about to explode,” Iowa Attorney General Tom Miller said after a Thursday meeting with members of President Barack Obama’s administration to discuss ways to […]
Treasury Says Millions More Foreclosures Coming (All for Hope and Change)
Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration’s housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.
A Treasury report showed 360,165 people had their monthly payments reduced through August, up from 235,247 through July, but a senior Treasury […]
Home foreclosures set another record in July; Rise 7%…
The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in […]