Delinquent home owners are finding a wild-card in saving their home from foreclosure. In court, more home owners are successfully arguing that their mortgage companies can’t prove they own the loan and don’t have the right to foreclose on them. The Wall Street Journal reports: “In some cases, borrowers are showing courts that banks failed [...]
While Las Vegas boasts the worst foreclosure rate in the country, several other cities are creeping up with the fastest growing rates of foreclosures — and they’re in some unexpected places. These cities mostly have one thing in common: They’re all battling a growing number of job losses among their residents that are leading more [...]
The states of Arizona and Nevada has sued Bank of America for alleged foreclosure fraud. The lawsuits are very similar in scope, and basically allege that Bank of America engaged in deceptive practices specifically with regard to mortgage servicing, loan modification, and foreclosure. Arizona Attorney General Terry Goddard said in a press release: “Bank of [...]
In what could be another sign that the housing crisis is far from over, the percent of mortgage holders who are underwater on their homes continued to rise in the third quarter–and some say it could be another eight to 10 months before that trend turns around. In the U.S., 23.2% of U.S. mortgage holders [...]
U.S. pending home sales slipped for the first time in three months in September as foreclosure moratoriums slowed sales. The National Association of Realtors’ index for pending sales of existing homes fell 1.8% to 80.9, the industry group said Friday. Economists surveyed by Dow Jones Newswires had expected pending home sales would increase by 3% [...]
A company/person asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage. They may pocket your money and do nothing to help you save your home from foreclosure. A company/person guarantees they can stop a foreclosure or get your loan modified. NO ONE can make this guarantee [...]
Wells Fargo & Co. said it plans to refile paperwork in 55,000 foreclosure cases after it discovered flaws in foreclosure documents. The San Francisco-based bank, which is also among the largest providers of residential mortgages in Minnesota, had previously stood by its foreclosure paperwork as other major mortgage lenders came under scrutiny. Wells Fargo proceeded [...]
The number of U.S. households that missed consecutive mortgage payments or were in foreclosure fell more in the second quarter than any time since the mortgage crisis began four years ago, a survey found. But the data, released Thursday by the Mortgage Bankers Association, showed the crisis is far from ending. One worrisome sign: The [...]
Foreclosures continued on an overall downward trend in July in the Yuba-Sutter area, though Sutter County saw an increase compared to a year earlier in the number of homes undergoing the final foreclosure step and falling into bank possession. In Yuba County, 56 homes went into foreclosure last month, a decrease of 10 from a [...]
RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009. More homes were taken over by banks and [...]
