The federal government proposed new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate accounting of their monthly mortgage payments. Congress mandated changes in the rules covering the mortgage servicing industry in the wake of the 2008 financial crisis. The Consumer Financial Protection Bureau’s proposed rules would require [...]
Here’s a sign of just how big and messy the foreclosure problem is: Bank of America has sued itself at least nine times in the month of April. That’s what lawyer and fraud expert Lynn Szymoniak discovered recently during a search for foreclosure filings in Palm Beach county Florida.”There are likely at least 100 examples [...]
Wells Fargo & Co. has made progress in cleaning up its finances since the housing market went bust. But is the banking giant doing enough to clean up the foreclosed homes it owns? A housing-advocacy group filed a complaint with the U.S. government on Tuesday alleging that Wells Fargo did a shoddy job of maintaining [...]
American International Group Inc.is planning to jump back into U.S. property investing, reversing yearslong efforts to downsize its real-estate business in the wake of its near-collapse and government bailout in 2008. AIG until recently had been dismantling what was once a $24 billion real-estate portfolio packed with trophy properties around the world to help pay [...]
(Source: K.C. Myers Cape Cod Times, Hyannis, Mass. (MCT) — Mona Smead lovingly describes her neighborhood of small cottages in the center of this village, near Onset Beach with its bluff of green, grassy hills. Nothing could shake her, she thought, from the home on Union Avenue that she bought in 1988 and where she [...]
NEW YORK (CNNMoney) — The $26 billion foreclosure settlement has finally been given the green light, making it possible for roughly two million of the nation’s hardest hit borrowers to see a significant reduction in their mortgage payments. Agreed to between the nation’s five largest banks and attorneys general from 49 states and the District [...]
If you would like to make $300,000 in the next twelve months then read this letter to see if you have what we are looking for. All of us at one time or another has fallen upon hard times. Somehow we always manage to get back on our feet. Most distressed homeowners don’t have a [...]
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Ah, spring. Flowers, baseball — and the prime real estate season, in which eager, young first-time buyers go in search of their dream home. But will second-quarter 2012′s housing market bring us a garden of blooms or a handful of ugly weeds? Let’s take a closer look. As Q2 gets underway, real estate has some [...]
WASHINGTON — The Federal Reserve has issued policy guidelines for banks turning foreclosed homes they own into rentals, a trend that could help boost falling home prices. The central bank said Thursday that banks making the conversions should preserve needed documents and meet all federal, state and local laws that apply to renting. Fed Chairman [...]
