Posted April 6th, 2009 by admin
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 [...]
Tags: foreclosure news, foreclosure prevention, foreclosure relief, loan modification scams, mortgage relief
Posted February 9th, 2009 by admin
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 [...]
Tags: foreclosure prevention, foreclosure process, loan modification
Posted December 15th, 2008 by admin
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 [...]
Tags: foreclosure prevention, mortgage rates, second mortgages
Posted December 10th, 2008 by admin
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 [...]
Tags: bad credit mortgages, foreclosure crisis, foreclosure prevention, loan modification, mortgage lenders
Posted December 9th, 2008 by admin
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 [...]
Tags: foreclosure crisis, foreclosure prevention, loan modification, mortgage relief, short sales