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Items Tagged with 'Foreclosure'

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Prominent Senate Democrats call for investigation into "discriminatory" foreclosure neglect

Warren, Schumer, others cite treatment of foreclosures in minority areas
Ben Lane
The complaint cites a 2014 report from the National Fair Housing Alliance that found that bank-owned properties in communities of color were much more likely to have a higher number of maintenance and marketing deficiencies, leading to "destabilizing outcomes for families and neighborhoods."
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The foreclosure crisis would have happened even without risky mortgages

So what if the press got it so wrong?
Jacob Gaffney
The mortgage industry still lacks adequate tools to recognize bubble behavior, and even less the power to stop it from bursting. Furthermore, and more importantly, the latest research shows regulations do nothing to prevent this sort of housing phenomenon. Are we doomed to repeat history?
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Sen. Marco Rubio faced foreclosure; sold house for $18,000 loss

New York Times takes a deep dive into presidential candidate’s finances
Ben Lane
Florida Sen. Marco Rubio faced foreclosure on a home he owned in Tallahassee after failing to make his mortgage payment for five months, according to a new report from the New York Times, which did a deep dive into the presidential candidate’s finances.
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Safeguard Properties calls $1M settlement an "amicable resolution"

Money will help hard-hit Illinois communities
Brena Swanson
Illinois Attorney General Lisa Madigan and Safeguard Properties reached a $1 million settlement over allegations the company illegally locked Illinois residents out of their homes before a foreclosure was finalized. But Safeguard’s side of the story remains respectfully different.
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The top 5 foreclosure hot spots from the latest CoreLogic report

Also the 5 bottom, not-so-hot spots
Brena Swanson
While the nation as a whole is improving from the financial crisis, the recovery still widely varies as you compare state levels. Using CoreLogic’s data, here are the top 5 and bottom 5 states with the highest foreclosure inventory as a percentage of all mortgaged homes.
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CoreLogic: Foreclosure inventory sinks 25% in April

Despite improvement, many families still struggle
Brena Swanson
Foreclosure inventory continued to drop, plummeting by 24.9% in this month's report. However, as the CoreLogic CEO points out, “Despite a slow and steady improvement in most housing market fundamentals, too many families remain in default of their mortgage obligation.”
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MUST-WATCH TRAILER: Hollywood realistically tackles foreclosure crisis with '99 Homes'

Forget Jurassic World
Jacob Gaffney

From Slate: Set in Florida in the aftermath of the 2008 subprime mortgage crisis, the suspenseful drama stars Michael Shannon as real-estate shark Rick Carver and Andrew Garfield as the man that Carver kicks out of his home and then tries to make his apprentice. Enticed yet?


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HOPE NOW: Foreclosure alternatives significantly outpace foreclosure sales

444,000 homeowners receive non-foreclosure solutions
Brena Swanson
Approximately 444,000 homeowners received non-foreclosure solutions from mortgage servicers in the first quarter of 2015. And as a positive result, the combination of total loan modifications, short sales, deeds in lieu and workout plans greatly outpaced foreclosure sales.
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Lawsky: New York’s foreclosure system is broken

Calls for reforms in state’s foreclosure process
Ben Lane
The state of New York is still facing a massive glut of foreclosures that are choking an over-stressed system and threatening the state’s homeowners, New York Department of Financial Services Superintendent Benjamin Lawsky told the crowd at the Mortgage Bankers Association’s National Secondary Market Conference on Tuesday morning. “The state’s foreclosure process is broken and badly in need of change,” Lawsky said.
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Fannie Mae accused of widespread racial discrimination

Housing groups say GSE neglects foreclosures in minority neighborhoods
Ben Lane
The National Fair Housing Alliance and 19 local fair housing organizations are accusing Fannie Mae of widespread racial discrimination, claiming that the GSE maintains and markets its foreclosures in white neighborhoods “consistently better” than in middle- and working-class African American and Latino neighborhoods. Fannie Mae says the charges are without merit.
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