Foreclosures Archives

In the high-stakes game of musical foreclosure chairs, increasingly the odd men out are homeowner associations. As homes sit vacant, homeowner groups see their community property values decline, and fees and charges go unpaid. To fight back, associations are getting creative about recouping their money — and they’ve painted bull's-eyes on the backs of banks to get it. Read more»
Even as legions of homeowners default on their mortgages and await eviction, many still remain in their homes — even 18 months after getting an eviction notice? How is this possible? Banks and lenders are reluctant to pull the trigger — and here is why. Read more»
States are getting increasingly creative about aiding homeowners who can’t afford to pay their mortgages. Pennsylvania is at the top if the list — it will lend you $60,000 to pay your mortgage if you lose your job. Will other local governments follow the Keystone state’s lead? Read more»
Citi Will Halt Foreclosures for 30 Days
By: The Associated Press
By Alan Zibel, AP Real Estate Writer WASHINGTON (AP) — Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The New York-based bank said Thursday the suspension will run from Friday through Jan. 17. It applies only to borrowers whose loans are owned by Citi. Borrowers who make payments to Citi but whose loans are owned by other investors are out of luck. Read more»
The U.S. Treasury Department is ratcheting up efforts to take financially swamped homeowners into “short sale” programs if they can’t get a loan modification deal. The trick is to throw some government cash onto the table to get lenders to go long on short deals. Read more»
By Martin Crutsinger, AP Economics Writer WASHINGTON (AP) — With the foreclosure crisis showing no signs of relenting, the Obama administration plans to expand a program aimed at helping people remain in their homes. The goal of the announcement, expected Monday, is to increase the rate at which troubled home loans are converted into new loans with lower monthly payments, Treasury spokeswoman Meg Reilly said during the weekend. Read more»
Progress revamping the loans of millions of financially-troubled U.S. homeowners is going at a glacial pace — and the banks aren’t helping speed things up. If your loan modification is at a snail's pace, see if one or more of these reasons apply. Read more»
Actor Nicolas Cage is having foreclosure troubles, mostly due to money lost through bad investment advice and a misplaced belief in real estate values climbing forever. Here is his story — and how you can learn from his mistakes. Read more»
A New Way to Fight Foreclosures
By: Brian O'Connell
Two legal decisions – one in a New York State Court and one in a Tampa, Fla. foreclosure court – to cancel a homeowner’s mortgage debt after the bank couldn’t find the mortgage paperwork, are sending shivers down the spine of mortgage lenders. Read more»
States are growing increasingly frustrated with banks foreclosing on homes; so much so that some states are threatening banks with legal action if they don’t mend their foreclosing ways. New York is leading the way — and other states have already begun to follow. Read more»
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