Foreclosure

7:55am

Thu October 11, 2012
The Two-Way

U.S. Foreclosures Drop Dramatically, But The Picture Remains Very Mixed

Originally published on Thu October 11, 2012 8:38 am

An auction sign in front of a Salem, Ore., home on Feb. 23.
Rick Bowmer AP

RealtyTrac, an online industry group that follows the foreclosure market, says the number of foreclosed properties nationally dropped dramatically in September, down by seven percent from August. And the firm says since September 2011, foreclosures are down 16 percent — that's the lowest total since July 2007.

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3:20pm

Tue July 31, 2012
The Two-Way

Fannie, Freddie Regulator Holds Firm Against Mortgage Write-Downs

Many experts say reducing mortgage principal can help troubled homeowners avoid foreclosure and stay in their homes. But the regulator who oversees two of the nation's largest mortgage holders, Fannie Mae and Freddie Mac, has rejected the idea.
Justin Sullivan Getty Images

A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.

Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.

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3:24pm

Wed May 9, 2012
Economy

Foreclosure Review Is Free, But Few Borrowers Apply

Originally published on Wed May 9, 2012 5:19 pm

A foreclosed home in Los Angeles. More than 4 million homeowners nationwide are eligible for an independent review of their foreclosure process, but only a small percentage have applied to the program.
Damian Dovarganes AP

It's been more than six months since government regulators and banks first extended an offer to 4.3 million homeowners facing foreclosure: to review, at no cost, the foreclosure process to check for any possible errors or misrepresentations.

Homeowners stand to collect compensation of as much as $100,000 if errors are found. But thus far, only a tiny percentage of those eligible have signed up.

'Not Enough Folks Have Signed Up'

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1:21am

Wed May 2, 2012
Crisis In The Housing Market

Should Banks Maintain Abandoned Properties?

Originally published on Wed May 2, 2012 7:49 am

An abandoned home on Chicago's South Side, which neighbor Ruben DeSantiago says attracts gang activity. DeSantiago and other neighbors mow the lawn and pick up trash because they say no one else is caring for the house.
Odette Yousef

Like hundreds of cities across the country, Chicago is trying to tackle the issue of too many foreclosed and vacant homes. The city is now requiring lenders to ensure that those abandoned properties are secured and maintained. Other cities have similar laws.

But the federal government is suing Chicago over its new rules in what's seen as a test case that could affect whether any city would be allowed to keep lenders on the hook for abandoned properties.

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2:35pm

Mon March 19, 2012
Housing

Using Seasonal Data to Predict Colorado Foreclosures in 2012

Creative Commons/Flickr

The latest report from foreclosure monitoring firm Realty Trac shows nationwide, overall foreclosure activity dipped slightly in February.  And the trend is similar in Colorado, with foreclosure auctions down by almost 7%.

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