foreclosure News

foreclosure News From AOL News

Foreclosure May Have Led Calif. Man to Murder-Suicide

A California man lost his job and was losing his home to the bank and his wife to cancer. Now police are investigating whether he killed his wife before setting their home on fire and taking his own life. Authorities removed two bodies from the rubble of the two-story house in San Diego County this past weekend. Neither...

More Than Half Leave Obama Mortgage-Aid Program

WASHINGTON (Nov. 18) -- More than half of the 1.4 million homeowners who enrolled in the Obama administration's flagship foreclosure-prevention program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. But the latest report from the Treasury...

Bank of America to Resume Foreclosures in 23 States

WASHINGTON (Oct. 18) -- The pace of U.S. home foreclosures may not slow much after all. Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week. It said it has a legal right to foreclose despite accusations that documents used in the process were flawed. Ally Financial...

Bank of America to Halt Foreclosures Nationwide

(Oct. 8) -- Bank of America (BAC) plans to halt foreclosure sales across the nation, as it reviews whether it handled its foreclosure documentation and procedures properly, the banking giant said Friday. The move by BofA extends the mortgage foreclosure moratorium it had initiated in 23 states earlier this month, after it...

Obama Sends Foreclosure Docs Bill Back to Congress

WASHINGTON (Oct. 7) -- President Barack Obama has rejected a bill that the White House fears could worsen the mounting problems caused by flawed or misleading documents used by banks in home foreclosures. White House press secretary Robert Gibbs said Thursday that Obama is sending a newly passed bill back to Congress to...

foreclosure News From AOL

RENTEDSPACES.COM

Senator's Mortgage Trouble Highlights Positive Housing Trend

While presumptive Republican presidential nominee Mitt Romney may be in the process of quadrupling the size of the La Jolla mansion ( one of six homes in his real estate portfolio ) that he purchased for $12 million in 2008, not all of our politicians appear insulated from the impact of the housing meltdown.

THE HUFFINGTON POST - BUSINESS

Pedophile Pediatrician's Foreclosed Home Gets No Bids At Auction

For some, a home's former owner can haunt the property forever.

THE HUFFINGTON POST - BUSINESS

Early CFPB Reforms Disappoint Activists

When the framers of the national mortgage settlement agreed to let the deal expire in three-and-a-half years , it was with the assumption that the Consumer Financial Protection Bureau would in the meantime make permanent the mortgage servicing reforms that are written into the sprawling $25 billion agreement.

AOL REAL ESTATE

Mortgage Rates Hit Lowest Point Ever, Again

WASHINGTON -- Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week.

THE HUFFINGTON POST - BUSINESS

Mortgage Settlement Monitor Wants To Hear Your Gripes

If your client has a complaint about the bank managing his or her home loan, Joseph Smith, the former North Carolina banking commissioner charged with enforcing the national mortgage settlement, would like to know about it.

foreclosure News From the Web

06/03/12 A flurry of flipping Source: The Press Democrat - Santa Rosa CA
In an unprecedented effort to buy and flip distressed properties in Sonoma County, a Vacaville company has purchased more than $15 million worth of foreclosed homes across the county in the past six months.
Blue Mountain Realty, which acquired its first home locally in November, has quickly become the single largest buyer of homes in the county.
06/03/12 Foreclosure Alternatives: Short sales can affect... Source: Redding.com - Redding CA The Record Searchlight introduces a new column today, Foreclosure Alternatives.
06/03/12 BBB Tip of the Week: Mortgage audit - Sun, 03 Jun 2012... Source: The Spokesman-Review - Spokane WA Who wants to perform my outside mortgage audit?
06/03/12 One bill to solve two N.J. problems Source: NorthJersey.com - Hackensack NJ Sandy Batty is chairman of the Coalition for Affordable Housing and the Environment, a group of statewide organizations that promote the idea of the interdependency of urban, suburban and rural communities.
06/03/12 Mortgage modification not right for everyone Source: St Louis Post-Dispatch - St Louis MO For homeowners struggling to stay in their homes, a mortgage modification may be the way to go.

Background on foreclosure

Foreclosure is a specific legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.

more at wikipedia »