Browsing Category 'News'

foreclosure picture2

Sellers stop making payments for any host of reasons. Few decide to get into foreclosure voluntarily. It’s often an unforeseen result from one of the following: – Laid-off, fired or quit job – Inability to continue working as a result of medical conditions – Excessive debt and mounting bill obligations – Squabbles with co-owner, divorce […]

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mortgagesettlement

WASHINGTON – The federal government is “very close” to a settlement with mortgage servicers that could help a million homeowners by reducing what they owe on their mortgages, Housing Secretary Shaun Donovan told a conference of the nation’s mayors Wednesday. Donovan said the so-called robo-signing scandal, in which mortgage servicers were accused of initiating foreclosures […]

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Mortgage servicers are putting more failed Home Affordable Modification Program trials through foreclosure than these folks twelve months ago. According to Treasury Department data released last week, 10.6% of the more that 615,000 canceled HAMP trials completed the foreclosure process since Nov. 1. That’s more than double the 4.4% of failed HAMP trials foreclosed on […]

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Recent comments from the New York Federal Reserve president that government-sponsored enterprises should mimic investors in writing down principal on home loans are receiving harsh push-back from a certain U.S. senator from Tennessee. Last week in a speech to the New Jersey Bankers Association, William Dudley advocated the use of “accelerated principal reduction” by Fannie […]

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Delano

Home sales in the Miami area rose 5% in November with 7,855 closings on the books, DataQuick said this week. That figure is up 17.5% from a year ago and the highest November sales level since 2006 when 10,369 home closings were recorded by the San Diego-based research firm. DataQuick attributes the faster sales pace to lower […]

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