According to a report from the national Association of Realtors® (NAR) “congress unanimously approved a one-year extension of National Flood Insurance Program authority to September 30, 2011. S. 3814 was first approved on September 21, 2010, by the unanimous consent … Continue reading
No doubt you have heard or read quite a bit about foreclosures lately: banks are being sued, foreclosures are being stopped, title companies declining to write policies on bank owned properties, loan servicers and their procedures are being investigated, the … Continue reading
The federal government is looking into the allegations that homeowners have been (are being) evicted using incorrect or erroneous paperwork according to Attorney General Eric Holder. He stated that the “financial task force has a mortgage component to it” in … Continue reading
Bank of America and Wells Fargo have joined JPMorgan and GMAC in halting their foreclosure proceedings until their files and processes are reviewed. Regulators from the office of the Controller of the Currency have instructed 7 major banks to review … Continue reading
JPMorgan Chase, has stopped foreclosures so it can review loan documents for errors. It is the second major mortgage lender to do so. Read more. Foreclosure, REO Home Prices Rise Average sale prices for homes in foreclosure and those owned … Continue reading
One hard hit group of homeowners in these economically challenging times is the unemployed; those who have lose their income through job loss. While many programs have done much to help keep homeowners in their homes if possible, Fannie Mae … Continue reading
Fannie Mae announced a seller assistance incentive on properties owned by Fannie Mae and listed on the companys REO website (click HERE for your free list). Qualified home-buyers who will be owner-occupants can receive up to 3.5 percent of the … Continue reading
While most of us agree that that walking away from a home just because the balance on the loan is higher than the current value is wrong, there are those that simply can not make their payments. This may be … Continue reading
A few months ago the state of California banned the practice of charging up front fees for Loan Modifications, and federal laws soon followed. This law was intended to stop the fraudulent practice of taking advantage of desperate homeowners by … Continue reading
According to an article in the San Diego News a recent poll showed that 59% felt it is ‘unacceptable’ to walk away from a mortgage. This was the findings of the Pew Research Center poll. 2,967 adults were surveyed during … Continue reading