Posts Tagged ‘foreclosure’

Some victims of Countrywide Financial foreclosure entitled to $3,100 compensation

Some victims of Countrywide Financial foreclosure entitled to $3,100 compensation
Almost 80 Montana consumers who lost their homes to the foreclosure of Countrywide Financial home loans company will receive checks for $3,129 within the next few days.

Read more on Great Falls Tribune

Homeowners rent out rooms to stave off foreclosure

Homeowners rent out rooms to stave off foreclosure
That bedroom just down the hall. While renting out a room has been around for years, especially in the South Bay’s Latino neighborhoods, sharing a home in order to save it has become an increasingly popular way to hang on to the front-door keys to the American dream.

Read more on Lamorinda Sun

Former Boca, Delray firms sued for foreclosure fraud

Former Boca, Delray firms sued for foreclosure fraud
Former Boca Raton and Delray Beach based firms (now in Deerfield Beach) have been sued by Florida Attorney General Bill McCollum for, among other things, using President Obama’s voice in a nationwide “series of false and fraudulent representations” designed to induce sale of loan modification and foreclosure related services.

Read more on Boca Raton News

Foreclosure problem drags down home values

Foreclosure problem drags down home values
When one person loses a home to foreclosure, it’s a personal tragedy. But when thousands default, the problems extend beyond property lines and ripple through the community. Record numbers of foreclosure filings in each of the past three years in…

Read more on Colorado Springs Gazette

Riverton Houses in Harlem to Be Sold in Foreclosure

Riverton Houses in Harlem to Be Sold in Foreclosure
The owner of the complex failed to meet his projections and defaulted on the mortgage.

Read more on New York Times

Bank of America steps up foreclosure prevention efforts

Bank of America steps up foreclosure prevention efforts
One roadblock slowing President Obama’s foreclosure prevention program seems to be clearing away. Bank of America, the nation’s largest mortgage lender, said Tuesday that it was the first lender to agree to lower or eliminate payments on second mortgages.

Read more on CNN Money

Report cites flaws in foreclosure prevention effort, sees new wave of defaults

Report cites flaws in foreclosure prevention effort, sees new wave of defaults
The high level of foreclosures plaguing the country will get worse before it gets better, according to report issued Wednesday by state regulators that found that mortgage relief being offered to distressed borrowers is not keeping up with the need.

Read more on Washington Post

Fort Smith Foreclosure Rates Creep Up

Fort Smith Foreclosure Rates Creep Up
Times Record Staff The mortgage foreclosure rate for the Fort Smith area rose to 1.42 percent in November, an increase of 0.59 percentage points from 0.83 percent in November 2008.

Read more on Arkansas News Bureau

Dubai’s First Foreclosure May Open Floodgates in Worst Market

Dubai’s First Foreclosure May Open Floodgates in Worst Market
Jan. 11 (Bloomberg) — Dubai’s housing rout sent prices down 52 percent in the past year, prompting some homeowners to abandon their cars and mortgage payments and flee the country. Not one received a foreclosure notice.

Read more on Bloomberg

Beware of foreclosure rescue scams/schemes

Beware of foreclosure rescue scams/schemes
Scam-artists are trying to cheat Iowans who are caught up in the nationwide foreclosure crisis. Mortgage foreclosure “rescue” schemes ask you to pay hundreds of dollars up-front for so-called assistance or “rescue” from foreclosure – but they just take your money and do little or nothing to help. The scam puts you in a deeper financial hole, does nothing to save your home and diverts you from …

Read more on Logan Herald-Observer & Woodbine Twiner