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Items Tagged with 'Foreclosures'

ARTICLES

Wells Fargo breached national mortgage settlement

Judge finds bank did not properly evaluate homeowners
Trey Garrison
A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.
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CoreLogic: Foreclosure inventory down 27.3% since February 2014

Total now down 67% from peak in 2010
Trey Garrison
Foreclosures and delinquencies are way down from last year and from their peaks right after the housing crash. Fewer opportunities for investors, but what does it mean for the economy as a whole?
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More than one-third of America holds no emergency savings

Improving economy still leaves millions on brink of foreclosure
Ben Lane
Despite marked improvement in the economy since the end of the housing crisis, millions of Americans are still on the brink of foreclosure due to a lack of savings. How bad is it?
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Black Knight: Foreclosure inventory reaches lowest level since 2007

Last month’s jump in foreclosures reverse course
Trey Garrison
January’s jump in foreclosure starts reversed course - and then some - in February, dropping by 15% to 79,700 for the month, its lowest level since last November, and the third lowest point in at least seven years. Here's what happened.
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HOPE NOW: 35,000 homeowners receive loan modifications

Loan mods drop as foreclosure sales decline
Brena Swanson
Although the number of borrowers receiving loan modifications has declined monthly, this is not necessarily bad news for housing.
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RealtyTrac: Foreclosures will soon return to pre-crisis level

Foreclosure activity falls to lowest level since July 2006
Ben Lane
This year may finally be the year that we're able to put the foreclosure crisis behind us. According to a new report from RealtyTrac, foreclosure activity, which includes default notices, scheduled auctions and bank repossessions, is on track to return to pre-crisis levels by the end of 2015.
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Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
Ben Lane
You can say a lot of things about the foreclosure crisis, but you can’t say that moving into a neighborhood destroyed by foreclosures could drive a man insane after he falls victim to ancient curses while living a haunted house. Until now!
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New York doubling down in fight against zombie foreclosures

Attorney General announces new legislation to address “growing problem”
Ben Lane

New York Attorney General Eric Schneiderman announced on Monday that he plans to resubmit an expanded version of a bill he first introduced in 2014 to the state legislature. The bill, called the Abandoned Property Neighborhood Relief Act, is designed to reduce the number of zombie homes by informing homeowners of their right to stay in their home until a court orders them to leave.


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Military members to receive $123 million for unlawful foreclosures

Relief is part of National Mortgage Settlement
Ben Lane
According to the U.S. Department of Justice, Bank of America, JPMorgan Chase, Citi, Wells Fargo and GMAC Mortgage will send payments to 952 service members and their co-borrowers for conducting non-judicial foreclosures conducted in violation of the Servicemembers Civil Relief Act.
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CoreLogic: Foreclosures down 13.7% year-over-year

39,000 completed foreclosures in December
Brena Swanson
While foreclosures continue their downward trend, completed foreclosures last year were less than half of the 1.2 million peak in 2010, but remain twice the level of normal activity over 10 years ago.
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