Foreclosures Archives

NEW YORK (sbup) — More homeowners who fell victim to foreclosure are turning to rentals to make ends meet and have a place to hang their hats. And in a surprising twist of fate, it’s the landlords who are proving to have more compassion for homeowners than their mortgage lenders ever did. Read more»
BofA Ramps Up Foreclosure Aid
By: Brian O'Connell
NEW YORK (MainStreet) — Bank of America (Stock Quote: BAC) is getting serious about consumer foreclosure rates, more than tripling the number of foreclosure prevention centers it runs from 12 to 40 across 22 states. Read more»
NEW YORK (sbup) — Distressed homeowners can have a tough time finding qualified buyers for their homes. Usually they have to wait for buyers to wade through foreclosure and short sale listings, and after that they can only hope for the best. Read more»
NEW YORK (MainStreet) – The government is making it more difficult for mortgage servicers to foreclose on reeling homeowners. Read more»
Bungled Foreclosures May Cost Banks Billions
By: Brian O'Connell
NEW YORK (MainStreet) – Banks and lenders may have a big problem on their hands – a $535 billion-sized problem. That’s the conclusion of a new study that says homeowners who suffered from bungled foreclosures could be in line for a bailout of their own. Read more»
Fed to Fine Banks for Foreclosure Abuses
By: Matt Brownell
NEW YORK (MainStreet) – Ten of the nation’s largest banks will be formally sanctioned for foreclosure abuses, the Federal Reserve announced Wednesday. Read more»
The Best Foreclosure Listings Online
By: Brian O'Connell
NEW YORK (MainStreet) — The Internet is chock full of sites that claim to give you the inside track on good home foreclosure deals, but some are definitely better than others. Three sites stand out, and they’ll get you an average 15% or better discount on home foreclosure sales. Read more»
Bank of America Creates Unit for Foreclosures
By: The Associated Press
By Eileen AJ Conelly, AP Business Writer NEW YORK (AP) — Bank of America Corp. on Thursday said it is splitting its mortgage business into two units, with a new division created specifically to handle foreclosures and discontinued loan products. Read more»
NEW YORK (sbup) — The National Association of Realtors just published new data that calculates the savings from buying a foreclosed home at 15%. How can you find good home foreclosure deals? Read more»
NEW YORK (sbup) — Patsy Campbell, a 71-year-old retired insurance professional in Okeechobee, Florida, has managed to keep living in her two-story home even though she hasn’t made a mortgage payment since 1985 (she bought the property in 1978). Despite repeated attempts by her mortgage lender to foreclose on the property, currently appraised at $203,000, Campbell claims she isn’t going anywhere. Read more»
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