Foreclosures

March 19, 2010 - (RealEstateRama) -- Attorney General McCollum today sent letters to the Speaker of the Florida House of Representatives and the Florida Senate President regarding the impact commercial real estate foreclosures could have on Florida's economy and encouraging the legislature to be proactive in addressing the pending crisis

Aroostook County Housing Counselor Added to Program AUGUSTA, ME - March 18, 2010 - (RealEstateRama) -- The Bureau of Consumer Credit Protection signed a contract this month with Aroostook County Action Program (ACAP), increasing the number of housing counselors serving Maine homeowners. This contract adds another certified housing counseling service to the seven non-profit agencies currently under contract around the State

BOSTON, MA - March 17, 2010 - (RealEstateRama) -- Senator John Kerry today announced that Chelsea Neighborhood Developers, Inc. will receive $352,000 in federal funding from NeighborWorks America. The funding will be used to help local communities revitalize and sustain their neighborhoods and to provide counseling to families and individuals facing the threat of foreclosure.

BOSTON, MA - March 17, 2010 - (RealEstateRama) -- Senator John Kerry today announced that Neighborhood Housing Services of the South Shore, Inc. will receive $84,000 in federal funding from NeighborWorks America. The funding will be used to help local communities revitalize and sustain their neighborhoods and to provide counseling to families and individuals facing the threat of foreclosure.

BOSTON, MA - March 17, 2010 - (RealEstateRama) -- Senator John Kerry today announced that Lawrence CommunityWorks, Inc. will receive $163,500 in federal funding from NeighborWorks America. The funding will be used to help local communities revitalize and sustain their neighborhoods and to provide counseling to families and individuals facing the threat of foreclosure.

Real Estate professionals, Lenders, Counselors on hand for free information/ advice. Oxford, MS - March 16, 2010 - (RealEstateRama) -- The Mississippi Home Corporation will hold two events to promote its new Home Buyer Advantage (HBA) program that provides grants of up to $40,000 to homebuyers purchasing foreclosed properties in qualifying areas across the state. The first event will be held on Tuesday, March 30 from 4:00 until 7:00 p.m. at the Lafayette County & Oxford Library, 401 Bramlett Blvd. in Oxford. The second event will be held on March 31 at the Tupelo Library on 219 N. Madison St. in Tupelo from 4:00 p.m. until 7:00 p.m. Both events are free and open to the public

Foreclosures not limited to predatory lending as more homeowners are “underwater”. CHICAGO, IL - March 15, 2010 - (RealEstateRama) -- More homeowners across Chicago find themselves at risk of foreclosure as property values drop and families struggle with unemployment, U.S. Senator Dick Durbin (D-IL) said today at a news conference to release National People’s Action’s 2009 Chicago Foreclosure Report.

March 15, 2010 - (RealEstateRama) -- Bureau of Financial Institutions Superintendent Lloyd P. LaFountain, III announced this week that fourth quarter 2009 data submitted by Maine-chartered banks and credit unions shows a continuing increase in home foreclosures in Maine. In general, foreclosure activity at Maine banks and credit unions appears to be lower than in many other states and it does not pose a threat to the stability of Maine-chartered financial institutions.

March 15, 2010 - (RealEstateRama) -- Potential homebuyers may qualify for $15,000 in down payment and closing cost assistance to help buy a foreclosed single-family home, townhouse or condominium in the city of Phoenix

Harrisburg, PA - March 12, 2010 - (RealEstateRama) -- As neighborhood deterioration continues to sweep through Pennsylvania’s urban areas, particularly in Philadelphia, a plan to fight blight proposed by Rep. John Taylor (R-Philadelphia) was endorsed last week by Dan Kildee, a leading national expert on land banking.

Atlanta, GA - March 12, 2010 - (RealEstateRama) -- Atlanta real estate continues to be a hot topic for current homeowners and potential buyers. Conflictingor incomplete information abounds about the local real estate market, homevalues, foreclosures and whether to buy or wait until the economy improves

Washington, DC - March 12, 2010 - (RealEstateRama) -- Yesterday, Congressman Bill Foster (IL-14) introduced legislation that will promote neighborhood stabilization by incentivizing short sales as a preferable alternative to foreclosure

WASHINGTON, DC - March 11, 2010 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in California and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, debris and mud flows during January and February

Salem, OR - March 3, 2010 - (RealEstateRama) -- As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27.

COLUMBUS, OH - March 5, 2010 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) visited Columbus Housing Partnership's housing advisory center today to outline the need for additional federal foreclosure funds for Ohio.

LANSING, MI - March 9, 2010 - (RealEstateRama) -- Today Senator Gretchen Whitmer (D-East Lansing) offered the following statement on the need to protect Michigan consumers from foreclosure scams, and her legislation to help do so. Senate Bill 930, Whitmer's legislation to develop qualifications and regulations on foreclosure consultants, was introduced in October 2009 and is currently awaiting action by the Senate Banking and Financial Institutions Committee.

TALLAHASSEE, FL - March 8, 2010 - (RealEstateRama) -- As part of National Consumer Protection Week, Attorney General Bill McCollum today issued a consumer advisory on foreclosure rescue services and foreclosure-related loan modification offers, one of the most frequent subjects of complaints to the Attorney General’s Office during 2009. With a second wave of mortgage fraud and foreclosure rescue fraud predicted for 2010, the Attorney General warned homeowners that disreputable companies and individuals will likely continue trying to capitalize on the current economic climate and consumers’ credit and mortgage concerns.

BALTIMORE, MD - March 8, 2010 - (RealEstateRama) -- Just as sharks smell blood in the water, foreclosure rescue scammers can pick out desperate homeowners on the brink of foreclosure. Many homeowners are unaware of their options and panic. In the latest issue of The Consumer’s Edge, Maryland Attorney General Douglas F. Gansler warns homeowners and consumers of foreclosure rescue scams, and offers tips on how to avoid them.

BOSTON, MA - March 8, 2010 - (RealEstateRama) -- Friday, March 5, 2010 – Furthering the Patrick-Murray Administration's commitment to improve communities hard hit by foreclosure, Governor Deval Patrick today announced that $5.1 million in federal funds will be allotted to boost neighborhood stabilization programs underway in Framingham, Leominster, Lynn, Marlboro and Worcester. Those funds can be used to acquire, and rehabilitate foreclosed properties and get them reoccupied with new renters or homeowners."Foreclosed and vacant properties lessen the quality of life for entire neighborhoods," said Governor Patrick. "This influx of additional funds to those communities will enhance the good work they are already doing to revitalize neighborhoods and create new affordable housing opportunities for hard-working individuals and families who earn modest wages."

Jefferson City, MO - March 8, 2010 - (RealEstateRama) -- Attorney General Chris Koster said today the nation's financial crisis has led to rampant growth of foreclosure-rescue scams. Since he took office in January 2009, the Attorney General's Office has had 321 complaints of foreclosure fraud, compared with just 25 complaints in 2007 and 2008 combined, a more than one-thousand percent increase.

March 5, 2010 - (RealEstateRama) -- On March 10, 2010, the Foreclosure Diversion Program will hold its first informational session at the Augusta District Court for homeowners who have been ordered to attend as part of the new foreclosure mediation process; lenders and their attorneys in these cases are also invited to attend, although their attendance is not mandatory. The Supreme Judicial Court designed informational sessions to educate homeowners about the foreclosure mediation process and it is hoped that as a result of these sessions, the parties will be better prepared to use mediation sessions productively.

March 4, 2010 - (RealEstateRama) -- A bill by State Senator Andrew J. McDonald (D-Stamford) that is designed to make banks and other financial institutions work more closely with homeowners during foreclosure proceedings received a strong outpouring of support today during its public hearing before the Judiciary Committee

Phoenix, AZ - March 4, 2010 - (RealEstateRama) -- Unsurprising to many real estate agents, short sales are expected to dominate the market in 2010 and 2011, with REOs declining in importance as lenders are discovering that they lose less money on short sale transactions.

Washington, D.C. - March 3, 2010 - (RealEstateRama) -- Rep. Betty Sutton (D-OH13) joined Ohio Reps. Marcia L. Fudge (D-OH11) and Mary Jo Kilroy (D-OH15), as well as Reps. Maxine Waters (D-CA) and Kendrick Meek (D-FL) to introduce H.R. 4635--a measure to combat foreclosures.

WASHINGTON, D.C. - March 3, 2010 - (RealEstateRama) -- Representative Marcia L. Fudge (D-OH11) collaborated with fellow Ohioans, Representatives Betty Sutton (D-OH13) and Mary Jo Kilroy (D-OH15), and Representatives Maxine Waters (D-CA35) and Kendrick Meek (D-FL17) to introduce H.R. 4635--a measure to combat foreclosures.

Washington, DC - March 1, 2010 - (RealEstateRama) -- Congressmen Dennis Kucinich (D-OH) and Steven LaTourette (R-OH), with 11 other Members of the Ohio delegation, have sent a letter to President Obama demanding that the administration reassess the criteria used to develop the $1.5 billion “innovation fund” to provide grants to “the states that are the hardest hit by this housing crisis.”

March 1, 2010 - (RealEstateRama) -- State Senators Andrew J. McDonald (D-Stamford) and John Kissel (R-Enfield), the Senate Chairman and Ranking Member, respectively, of the Judiciary Committee, today unveiled a new legislative proposal designed to make banks and other financial institutions work more closely with homeowners during foreclosure proceedings.

Washington, DC - March 1, 2010 - (RealEstateRama) -- Michael Bennet, U.S. Senator for Colorado, today sent a letter to the U.S. Treasury Department encouraging them to forbid mortgage providers from initiating or continuing the foreclosure process until they determine whether a homeowner is eligible for mortgage loan assistance through the Home Affordable Modification Program (HAMP). The Treasury is reportedly considering this change as part of its loan modification program

Washington, DC - February 25, 2010 - (RealEstateRama) -- U.S. Representative Mike. Turner today announced the release of a report offering an analysis and policy considerations to the national foreclosure crisis.

Announces More Than a Quarter Million Loan Modifications Completed. February 26, 2010 - (RealEstateRama) -- Governor Arnold Schwarzenegger today highlighted the success of his Administration’s efforts to keep California residents in their homes during these difficult economic times, a year after he signed the California Foreclosure Prevention Act (CFPA), a law to promote affordable loan modifications for distressed homeowners who might otherwise face foreclosure.