Archive for the 'Foreclosure Help' Category

Utah Representative Trisha Beck is planning to propose a law that will allow borrowers to have a face to face discussion with their mortgage lenders before a foreclosure process is started. The measure aims to lower the high supplies of cheap foreclosures in the state and prevent prices of homes from declining further.

Owners of foreclosure homes in Dallas and in other areas of Texas will likely get a reprieve, at least, until after the holidays, as state Attorney General Gregg Abbott sends letters to a total of 30 lenders operating in Texas to put a hold on foreclosures.

The U.S. Department of Treasury has recently provided additional details on its efforts to help neighborhoods in Florida affected by huge numbers of foreclosed properties, including Jacksonville foreclosure homes. The program provides aid through the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets.

A family in Bristow, Virginia recently received notice from Chase wherein the bank is proposing to reverse the foreclosure on their home and offering to have their mortgage modified. The news is one of very few good ones in the state that has also suffered from huge number of bank owned home foreclosures.

Homeowners in Florida facing government, bank and other types of foreclosures, such as Suntrust home foreclosures, have found a new technique to battle lenders filing foreclosure cases against them. Most lawyers representing these homeowners have found that questioning affidavit validity is one way of gaining ground against lender banks.

Support for the bill designed to help homeowners who are facing potential government and bank foreclosures, including Wells Fargo home foreclosures, has diminished in the past few weeks. Senate Bill 1275 initially had the support of majority of legislators, but has lost steam following an alleged intense lobbying effort from the banking industry.

The Department of Housing and Urban Development has announced that it is modifyng the definition of "foreclosed". The government agency has stated that houses with existing code violations will also now be under the same category as HUD foreclosures for sale.

Seminars are being conducted by various business and nonprofit associations to contain Indiana foreclosures.

A total of $154.5 million from the Obama administration has been set aside to contain Michigan foreclosures. Over 17,000 underwater and unemployed homeowners are expected to save their homes from foreclosure.

The land bank legislation passed recently is expected to put Ohio foreclosures into profitable use. The new legislation, taking effect in July, allows all Ohio counties with at least 60,000 residents - nearly 50 percent of all counties in the state - to form nonprofit organizations that would buy foreclosures for sale and other low-priced homes for sale, renovate them, resell them or rent them out.

In an effort to minimize bank owned foreclosures, the U.S. administration has launched an effort designed to compensate home owners who opt to sell their houses at a cheaper price. The Obama Administration has reserved $75 billion to help home owners who are facing foreclosure sell their properties faster.

The federally-funded rehabilitation program for Fort Myers foreclosures is right on track, according to officials of the Housing Authority of Fort Myers.

Throughout the housing meltdown, the administration of New York City Mayor Michael Bloomberg has launched various programs to cut down the number of foreclosures in Brooklyn and in the four other boroughs of the city.

Minneapolis foreclosure homes have been the focus of various federal programs such as Hope Now, Home Affordable Modification Program and the Neighborhood Stabilization Program over the past years.

Bank foreclosure sales by banking firms that acquired failed banks have recently been the focus of Sheila Bair, chairperson of the Federal Deposit Insurance Corporation, as she continues to find ways to help stop the rise in foreclosures due to unemployment.