Foreclosures
Home Foreclosures
Titus Applauds Creation of Housing Task Force
Washington, D.C. - July 2, 2010 - (RealEstateRama) -- Congresswoman Dina Titus of Nevada’s Third District applauded the creation of the House Democratic Caucus’ new Task Force on Housing Stabilization, chaired by Representatives Shelley Berkley of Nevada and Dennis Cardoza of California.
Marshfield Woman Indicted for Perjury in Connection with Lying on Court Affidavit and Lying...
BROCKTON, MA - July 1, 2010 - (RealEstateRama) -- A Marshfield woman has been indicted in connection with allegedly trying to delay or avoid foreclosure of a home mortgage by falsely reporting the death of a child to her mortgage company, and thereafter knowingly falsifying information in an affidavit filed in Brockton Superior Court, Attorney General Martha Coakley announced.A Plymouth County Grand Jury returned indictments against Donna Larson, age 52, on charges of Attempted Larceny and Perjury
Governor Martin O’Malley Announces New Protections for Maryland Families Facing Foreclosure
ANNAPOLIS, MD - July 1, 2010 - (RealEstateRama) -- Today, Maryland’s new Foreclosure Mediation law will take effect, giving mortgage challenged homeowners another tool to help them save their homes. The program aims to give homeowners more time and a better opportunity to work with their lender, help qualified borrowers get relief through a loan modification and provide an independent party to help both sides come to a resolution
Foreclosure Sales Account for 31 Percent of All Residential Sales in First Quarter According...
Nearly 233,000 Foreclosure and Bank-Owned Homes Sold at an Average Discount of 27 Percent. IRVINE, CA - June 30, 2010 - (RealEstateRama) -- RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its first U.S. Foreclosure Sales Report™, which shows that foreclosure homes accounted for 31 percent of all residential sales in the first quarter of 2010, and that the average sales price of properties that sold while in some stage of foreclosure was nearly 27 percent below the average sales price of properties not in the foreclosure process.
Brown Investigates Whether Tenants’ Rights Are Violated in Foreclosures
SACRAMENTO, CA - June 28, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today launched an investigation aimed at protecting the rights of the "forgotten victims" of the housing market collapse -- the tens of thousands of tenants facing eviction from buildings that have been foreclosed by banks.
Miller, Putnam bill would help protect Gulf homeowners from foreclosure
Washington, DC - June 25, 2010 - (RealEstateRama) --Congressmen Jeff Miller (R-FL) and Adam Putnam (R-FL) today introduced legislation to provide mortgage forbearance to homeowners in the areas affected by the BP Deepwater Horizon oil leak in the Gulf of Mexico.
Reid Highlights $100 Million Fund For Nevada’s Struggling Homeowners
Washington, DC - June 23, 2010 - (RealEstateRama) -- Nevada Senator Harry Reid today announced that Nevada would soon receive more than $100 million to fight foreclosures and help homeowners who owe more than their homes are worth.
Grijalva Applauds $125 Million Federal Aid to Arizona to Assist Communities Struggling With High...
Washington, D.C. - June 23, 2010 - (RealEstateRama) -- Rep. Raúl M. Grijalva today applauded the White House decision to approve $1.5 billion to help five states, including Arizona, create and promote home foreclosure prevention plans. Arizona will receive $125.1 million through the initiative.
Obama Administration Approves Granholm Plan to Help Homeowners Avoid Foreclosure with $154.5 million in...
LANSING, MI - June 23, 2010 - (RealEstateRama) -- The U.S. Departments of Treasury and Housing and Urban Development (HUD) have approved the Granholm Administration's plan to distribute $154.5 million in federal funds beginning July 12 that should help more than 17,000 Michigan households avoid foreclosure, including 11,000 homeowners who are currently drawing unemployment benefits and are struggling to make monthly mortgage payments.
OBAMA ADMINISTRATION APPROVES STATE PLANS FOR USE OF $1.5 BILLION IN ‘HARDEST HIT...
WASHINGTON, DC - June 23, 2010 - (RealEstateRama) -- State Housing Finance Agencies (HFAs) in Arizona, California, Florida, Michigan, and Nevada can begin to use $1.5 billion in "Hardest Hit Fund" foreclosure-prevention funding under plans approved today by the Obama Administration. This aid will support innovative local initiatives to assist struggling homeowners in those states, as part of the first round of funding available under this new program
Titus Statement on Approval of State Plan for Hardest Hit Funds
Washington, D.C. - June 23, 2010 - (RealEstateRama) -- Congresswoman Dina Titus of Nevada’s Third District applauded the Obama administration’s approval of Nevada’s state plan to use $102.8 million for foreclosure prevention.
Three in New Jersey Arrested and Charged in Foreclosure Rescue Scheme
NEWARK, NJ - June 22, 2010 - (RealEstateRama) -- Three members of an alleged mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit were arrested this morning on wire fraud conspiracy charges, U.S. Attorney Paul J. Fishman announced.
General Assembly Takes Action in Special Session to Help Neighborhoods and Homeowners Affected by...
June 22, 2010 - (RealEstateRama) -- Senate President Donald E. Williams, Jr. (D-Brooklyn) says action taken today in special session by the General Assembly will help neighborhoods and homeowners in Connecticut cope with the effects of the mortgage foreclosure crisis.
Bucks County Mortgage Broker Pleads Guilty to Fraud Scheme that Resulted in Foreclosures
PHILADELPHIA, PA - June 21, 2010 - (RealEstateRama) -- Frank J. Dattilo, 64, of Holland, PA, pleaded guilty today to two counts of mail fraud in connection with a scheme to defraud mortgage lenders and enrich himself. Dattilo was the owner and operator of the mortgage brokerage firm Provident Financial Group (“PFG”), which was located in Bensalem, PA.
Fannie Mae and Freddie Mac Loan Modifications and Refinancings Increase Significantly In First Quarter
Washington, DC - June 22, 2010 - (RealEstateRama) -- Loan modifications and refinancings by Fannie Mae and Freddie Mac increased significantly in the first quarter as the volume of permanent modifications under the Administration’s Home Affordable Modification Program (HAMP) tripled, and refinancings steadily grew under the Home Affordable Refinance Program (HARP). Loans 60-plus-days delinquent also declined for the first time in two years. The data were released in FHFA’s First Quarter 2010 Foreclosure Prevention & Refinance report, which includes data on all of the Enterprises’ foreclosure prevention efforts.
Cordray Focuses on Foreclosure Rescue Scams in Ohio
CLEVELAND, OH - June 17, 2010 - (RealEstateRama) -- As part of a national mortgage fraud sweep dubbed “Operation Stolen Dreams,” Ohio Attorney General Richard Cordray today announced lawsuits against two Ohio foreclosure rescue businesses for failing to provide services for which consumers paid.
AG Cooper cracks down on foreclosure assistance outfit
Raleigh, NC - June 18, 2010 - (RealEstateRama) -- A Charlotte foreclosure rescue operation, which previously operated in Colfax, NC, is barred from collecting any money from consumers for foreclosure assistance or loan modifications, Attorney General Roy Cooper announced Friday.
New Jersey Farm, Land, Banks and more Commercial Properties to be Auctioned July 15
Westfield, NJ - June 18, 2010 - (RealEstateRama) -- Seven commercial properties throughout the New Jersey, including four former bank branches, will hit the auction block simultaneously on July 15
Foreclosures by Race and Ethnicity: The Demographics of a Man-Made Disaster
WASHINGTON, D.C. - June 18, 2010 - (RealEstateRama) -- The ongoing foreclosure crisis has slashed hundreds of billions of dollars in wealth from communities of color, a new CRL research report shows, as an estimated 17% of Latino homeowners and 11% of African-American homeowners have already lost their home to foreclosure or are now at imminent risk. The wealth drain is the result of direct losses from foreclosures and also the decline in neighboring property values each foreclosure brings.
State Reaches Agreement with AVX Corporation on Cleanup of Contaminated Property in New Bedford
NEW BEDFORD, MA - June 17, 2010 - (RealEstateRama) -- A vacant industrial site along the Acushnet River contaminated with polychlorinated biphenyls (“PCBs”) and solvents will be cleaned up and prepared for redevelopment under an agreement Attorney General Martha Coakley’s Office and the Massachusetts Department of Environmental Protection (MassDEP) reached with AVX Corporation (“AVX”).
FinCEN Analysis: Foreclosure Rescue Scam Reports Increase Nature of Foreclosure Rescue Scams Shifts
VIENNA, VA - June 17, 2010 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN) today released its first analysis of suspicious activity reports (SARs) containing information about potential foreclosure rescue scams. The report, Loan Modification and Foreclosure Rescue Scams – Evolving Trends and Patterns in Bank Secrecy Act Reporting , involved an analysis of more than 3,500 SARs filed from 2004 through 2009, of which the great majority, 3,000, were filed last year. Additionally, FinCEN today also provided updated guidance to the financial industry concerning new scam techniques that financial professionals should watch for and report.
FTC Settlement Orders Ban More Than A Dozen Marketers from Selling Mortgage Relief Services;...
WASHINGTON, D.C. - June 17, 2010 - (RealEstateRama) -- As part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners, the Federal Trade Commission announced legal actions against more than a dozen marketers accused of pitching bogus mortgage modification or foreclosure relief services.
FTC Settlement Orders Ban More Than A Dozen Marketers from Selling Mortgage Relief Services;...
WASHINGTON, D.C. - June 17, 2010 - (RealEstateRama) -- As part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners, the Federal Trade Commission announced legal actions against more than a dozen marketers accused of pitching bogus mortgage modification or foreclosure relief services.
2nd Annual DC Housing Expo and Foreclosure Clinic This Saturday!
Washington, DC - June 16, 2010 - (RealEstateRama) -- The Department of Housing and Community Development (DHCD) will hold the 2nd Annual DC Housing Expo and Foreclosure Clinic on Saturday, June 19, 2010 at the Washington Convention Center. The event will be held from 10 a.m. - 3 p.m.
Five States Lead U.S. into Housing Recovery
Destin, FL - June 15, 2010 - (RealEstateRama) -- Five states are leading the U.S. out of the housing downturn, and into a recovery. Some may surprise you. By any historical gauge California is the odds on favorite to pull the nation out of the downturn, but the others are composed of places that either didn’t suffer as much during the financial crisis or didn’t see their home prices shoot up like a rocket
Administration Provides $1.5B to Five State HFAs for Foreclosure Prevention
Washington, DC - June 15, 2010 - (RealEstateRama) -- Today, President Obama announced a plan to provide $1.5 billion in Troubled Asset Relief Program (TARP) funds to five state Housing Finance Agencies (HFAs) to help them stem home foreclosures with programs they design to modify negative equity mortgages and provide emergency homeowner loans, among other strategies. The Administration is expected to allocate the funds to Arizona, California, Florida, Michigan, and Nevada, which have been especially hard hit by home price declines and unemployment
ICBA Provides Tips to Homeowners Facing Foreclosure
Washington, D.C. - June 14, 2010 - (RealEstateRama) -- June is National Homeownership Month, and the Independent Community Bankers of America (ICBA) and the nation’s nearly 8,000 community banks want to provide troubled homeowners with the information they need to help them avoid foreclosure.
U.S FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN MAY
IRVINE, CA - June 14, 2010 - (RealEstateRama) -- RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for May 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 322,920 properties in May, a 3 percent decrease from the previous month and an increase of less than 1 percent from May 2009. One in every 400 U.S. housing units received a foreclosure filing during the month.
MORTGAGE FORECLOSURE CRISIS ADDS TO PROBLEM PROPERTY INVENTORIES, COSTS IN CITIES ACROSS U.S.
June 14, 2010 - (RealEstateRama) -- For another year, the nation’s mortgage foreclosure crisis continued to complicate U.S. cities’ efforts to manage and dispose of growing inventories of vacant and abandoned properties, according to the most recent survey of mayors conducted by The U.S. Conference of Mayors and released today during the organization’s annual meeting in Oklahoma City. Today’s report is the fourth in the Conference’s series on cities’ efforts to combat problems of vacant and abandoned property.
WI DOJ Joins Partnership in Highlighting Resources for Wisconsin Homeowners
MILWAUKEE, WI - June 10, 2010 - (RealEstateRama) -- The Wisconsin Department of Justice joined a collaboration of state and federal organizations today in reaching out to distressed homeowners in Wisconsin who continue to face the effects of foreclosure.
