Aug 19th 2011 11:00AM
Mortgage servicers contending with attorney general investigations and extended foreclosure delays turned more to short sales in the past year. In August 2009, short sales accounted for 8% of all liquidations of distressed properties. That number grew to 25% by the middle of 2011, according to research from Moody's... Continue Reading »
Apr 8th 2011 8:47AM
Every Republican on a Colorado House committee voted no last week to a bill that was to provide housing counseling and foreclosure-prevention services to families trying to hold on to their homes; while at the nation's capital mortgage servicers agreed to do better by homeowners facing foreclosure across the nation. The... Continue Reading »
Feb 7th 2011 11:59AM
So it appears that some Congress-critters are agitating about the utter failure that is the suite of government loan modification programs. House Republicans want to repeal the Home Affordable Mortgage Program (HAMP), calling it a "colossal failure". Home Affordable Foreclosure Alternatives (HAFA), a sub-program, is also... Continue Reading »
Jan 22nd 2010 12:50PM
Wait, aren't loan modifications supposed to provide financial relief? Yes – if you consider a teaser mortgage rate to be a bargain. A new report finds that seven in every ten borrowers who have received a change in their mortgage in order to forestall foreclosure actually now owe more in principal than they did... Continue Reading »
Dec 4th 2009 6:05PM
In Friday's New York Times, Floyd Norris writes what appears to be a puff piece for JP Morgan Chase, rather than a serious story about "Why Many Home Loan Modifications Fail." No doubt there are people out there having trouble meeting paperwork guidelines. Some people are also not making payments even after they get a... Continue Reading »
Billionaire David Siegel's Unfinished 'Versailles' Mansion in Florida to Resume Construction
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