Items Tagged with 'foreclosure actions'


  • CFPB hits Fay Servicing with $1.15 million fine for illegal foreclosure practices

    Servicer fined for “keeping borrowers in the dark” about foreclosure options
    The Consumer Financial Protection Bureau announced Wednesday that it is fining Fay Servicing more than $1 million for “illegal foreclosure practices.” According to the CFPB, an investigation found that Fay Servicing was “keeping borrowers in the dark” about their foreclosure prevention options and pursuing foreclosure actions even as borrowers were actively seeking help to save their homes, a practice sometimes referred to as “dual tracking.”
    Read More
  • Third-party sales at foreclosure auctions now higher than ever

    Distressed sales hit 9-year low in 2016
    Homeowners are benefiting from the low-inventory market as competition increases, pulling even foreclosure prices up. Competition is so fierce, in fact, that third party sales at foreclosure auctions reached an all-time high in 2016. But while the share of third party buyers is high, distressed sales reached a nine-year low.
    Read More
  • RealtyTrac: More homeowners are avoiding foreclosure than ever before

    New report shows that foreclosure starts hit record low in first half of 2016
    A new report from RealtyTrac shows that more homeowners are keeping their homes out of foreclosure than ever before. According to RealtyTrac's report, the number of homes that started the foreclosure process during the first half of 2016 was the lowest for any half-year period since the company began tracking foreclosure starts in 2006.
    Read More
  • The ULTIMATE spite house hits the auction block

    Seattle’s Edith Macefield famously turned down $1 million for home
    The tale of Edith Macefield is apparently local legend in the Seattle area. In 2007, she famously turned down $1 million for her home, even as developers were literally building a shopping mall around it. Now her famous home is on the verge of being auctioned off.
    Read More