by Associated Press Published: September 15,2011
Tags: foreclosure rates, mortgages
Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. The number of U.S. homes that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, foreclosure listing firm RealtyTrac [...] [...]
by Associated Press Published: September 1,2011
Tags: Goldman Sachs, mortgages
Goldman Sachs’ mortgage subsidiary agreed Thursday to stop many of its controversial mortgage-related practices in a settlement with a New York state banking regulator. The New York’s Department of Financial Services and Banking Department said the settlement was a condition to Goldman Sachs Group Inc.’s sale of its Litton Loan Servicing subsidiary to a mortgage company [...] [...]
by Associated Press Published: December 31,2010
Tags: mortgages, Real Estate
People are starting to buy homes again, lifting a battered industry that is bracing for its worst sales year in more than a decade. Signed contracts to purchase homes rose in November, the fourth increase in five months. That should give the housing market a boost in the first few months of the new year because [...] [...]
by Jonathan Easley Published: December 21,2010
Tags: Freddie Mac, interest rates, mortgages
The fear of missing out on historically low interest rates spurred first-time homebuyer activity in November, according to a Campbell-Inside Mortgage Finance study. “The recent surge in interest rates has made potential homebuyers nervous,” said the survey’s Director Thomas Popik. “If rates go up much more, then a good percentage of them will no longer qualify [...] [...]
by admin Published: September 1,2010
Tags: banks, Foreclosures, mortgages
Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors. The Obama administration says local officials could benefit from acquiring these properties and using the land for redevelopment projects. Congress has provided $7 billion in money to buy the homes. These groups have [...] [...]
by Associated Press Published: April 3,2009
Tags: loans modifications, mortgages
Lenders are boosting their attempts to avoid home foreclosures, but fewer than half of loan modifications made at the end of last year actually reduced borrowers’ payments by more than 10 percent, data released Friday show.The report, based on an analysis of nearly 35 million loans worth more than $6 trillion, was published by the [...] [...]
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