Archive for the 'Foreclosure Crisis' Category

The latest foreclosure figures indicate that, as expected, foreclosure rates have fallen in 2012 – but the new wave of foreclosures could be headed our way.

If there is one thing we have learned about the foreclosure market lately it is that foreclosure happens to everyone and does not discriminate based on socioeconomic status, affecting both the rich and the poor.

Have you been considering purchasing a foreclosure property for everything from your primary place of residence to flipping houses? If so, there are some essential things you need to know about purchasing distressed properties to help you get the most out of your investment.

The foreclosure fraud settlement - or National Mortgage Settlement Agreement, for the traditionalists out there - is signed and sealed (if not entirely delivered yet). No one expects it to put an end to foreclosure shenanigans in the banking industry, but most expect it to at least provide some measure of support to homeowners struggling to stop foreclosure as well as some compensation to foreclosure victims.

Without a doubt, 2010 was the roughest year for foreclosures in America on record. That year, banks took back roughly 1.05 million home foreclosures, with 2.9 million foreclosure filings occurring. In 2011, those numbers subsided a bit, but only because the foreclosure fraud scandals of 2010 put a virtual halt to the foreclosure process across the country. As a result, only 804,000 homes were repossessed, against nearly 3 million filings.

The Federal Reserve Board, in conjunction with the Office of the Comptroller of the Currency, has formally extended the deadline for foreclosure review by 90 days. The previous deadline was April 30th of this year; the new deadline is now July

Those in the banking industry and in the federal government – as well as a good chunk of state attorneys general who participated in the negotiations and therefore have a lot invested professionally in the success of the deal – would say that the consumer won. After all, the banks have to pay at least $26 billion, including checks written directly to thousands of Americans and principal reductions for many homeowners who are [...]

Today, a consortium of the nation's largest lenders, besieged by criticism of deceptive foreclosure practices like rubberstamping and "robo-signing" foreclosures, announced it had agreed to the terms proposed in a settlement.

There are numerous reasons to avoid foreclosure prevention companies with scams and fees coming in at the top of the

The foreclosure settlement that has been raging between banks, states, and the federal government for close to a year now is still slogging through knee-deep mud, but in one state, an agreement has been reached regarding foreclosure

The real estate market has been up and down so many times many of us feel like we’ve been on a wild, bone-jarring rollercoaster. Homeowners definitely feel that way; some in California have even starting considering the possibility of doing something drastic to rectify problems in the market – like ban

Today, a key report released by the U.S. Department of Commerce indicated that housing starts were up across the country – a nice change from a year that has witnessed a continual slide in new and existing home sales due to the weak housing

We’ve discussed previously the fact that a lot of potential foreclosures – over one million – were due to be filed in 2011 but weren’t because of delays in foreclosure processes. There is also a lot of talk in the industry about how these foreclosures will impact the market once they are filed and placed on the

The foreclosure crisis continues, and the foreclosure market is still as strong as ever – with plenty of buying opportunities out there for the picking for investors and homebuyers who want to take advantage of this once-in-a-lifetime

Homebuyers and investors all across the country have taken full advantage of the steep drop in housing prices since 2006 in today’s real estate market. They’ve gotten used to falling prices, low home values, and bargain discounts everywhere they turn, so imagine their surprise to find that prices in a major metropolitan area are actually