Home Foreclosure Rescue Scams Rise

US Administration announced they have raised their efforts to stop predatory mortgage relief companies preying on struggling homeowners looking for companies to help negotiate better mortgage terms that yield a more affordable home loan payment. As the mortgage crisis continues to unfold, the FBI says incidents of suspicious financial activity banks reported to the bureau [...]

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Foreclosure Filings Increase with Little Mortgage Relief in Sight for 2009

U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they’re up 225% compared with 2006. A total of 861,664 families lost their homes to last year, according to RealtyTrac, which released its year-end report Thursday. There were more than 3.1 million foreclosure filings issued during [...]

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Home Foreclosure Expert Predicts Jump in Home Sales in 2009

The national foreclosure crisis may finally be simmering , but remember, from 84,534 REO properties in October to 84,291 in November, according to the 2009 outlook from ForeclosureS.com, released Tuesday. While the decline is largely likely an artifact of a growing push to halt pending foreclosures while mortgage lenders and government officials search for solutions to the nation’s housing [...]

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Modified Mortgage Loans Not Performing

According to a federal regulator more than half of delinquent borrowers who had their bad credit mortgages modified prior in the year to prevent foreclosure were behind on their new home loan payments after just 6 months.  John C. Dugan, US comptroller of the currency, announced at a housing forum yesterday that data his agency [...]

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Foreclosure Preventions with Bankruptcy Judges Given Authority to Modify Home Loans?

House Financial Services Committee Chairman Barney Frank on Monday said that if home foreclosures are not on the decline early next year he expects lawmakers to revive efforts to change bankruptcy law and let judges adjust the terms of mortgages. “If we come back in February and there is frustration that efforts at reducing foreclosure [...]

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