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Tag Archives: government
Servicers Provide $26.1B in Mortgage Relief Through Settlement
Five mortgage servicers have provided over 300,000 borrowers with some form of mortgage relief as part of a settlement agreement, according to a report from settlement monitor Joseph A. Smith, Jr. Bank of America, Chase, Citi, Wells Fargo, and Ally … Continue reading
Posted in Foreclosures, Real Estate News
Tagged bank-owned, distressed, florida, foreclosure, government, housing recovery, underwater homes
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Short Sale Relief at Risk?
Short sales are growing in popularity, but that may soon change. The “Mortgage Forgiveness Debt Relief Act and Debt Cancellation” is expiring at the end of the year, which could make more home owners think twice about doing a short … Continue reading
Cities Weigh Eminent Domain for Underwater Mortgages
Several local governments across the country are considering using the power of eminent domain to seize underwater mortgages — a controversial move that has been drawing widespread criticism in recent weeks. While the governments are considering various ways how to … Continue reading
Loan servicers face strict federal rules
WASHINGTON – Aug. 10, 2012 – The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments. Mortgage servicing companies would be required to … Continue reading
Feds question using eminent domain to help owners
WASHINGTON – Aug. 9, 2012 – The Federal Housing Finance Agency (FHFA) has put a Notice in the Federal Register voicing concern for a new tactic being considered to help underwater homeowners – the use of eminent domain to restructure … Continue reading
Fannie Mae Income Rises
On the heels of a similar announcement from Freddie Mac on Tuesday, Fannie Mae revealed yesterday that it posted second-quarter net income of $5.1 billion. That’s a substantial increase over the $2.7 billion reported in the first quarter of this … Continue reading
Posted in Mortgage & Finance
Tagged Fannie Mae, government, increased, mortgage deal, net income, rise
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Fed hits MetLife with $3.2M sanction
WASHINGTON – Aug. 8, 2012 – The U.S. Federal Reserve Board hit MetLife with a $3.2 million fine for failing to adequately oversee its subsidiaries’ home loan and foreclosure operations. When levying the sanction, the Fed took into account the … Continue reading
Posted in Mortgage & Finance, Uncategorized
Tagged foreclosure, government, mortgage deal
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The one number to watch for a housing recovery
Over the past few months, many economists have concluded that that the U.S. housing market has reached a turning point and is healing. This may sound hard to believe, since home prices have continued their downward trend. In 2011, prices … Continue reading
Posted in Market Statistics, Real Estate News
Tagged bank-owned, distressed, economy, florida, foreclosure, government, homes for sale, housing recovery, increased, new construction, property values, real estate bubble, recovery, reduced, short sale, single family homes, underwater homes
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BofA to slash mortgage balances by $100,000 or more
Bank of America will significantly slash mortgage balances for as many as 200,000 borrowers. As part of the $26 billion settlement reached between the five major mortgage servicers, the federal government and the attorneys general of 49 states and District … Continue reading
Posted in Distressed Properties, Foreclosures, Mortgage & Finance, Real Estate News
Tagged bank of america, bank settlement, bank-owned, billion dollar bank settlement, broward, distressed, florida, foreclosure, government, homes for sale, mortgage deal, reduced, robo-signing, settlement, short sale, underwater, underwater homes
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Mortgage Deal Means More Foreclosures
Even as the $26 billion mortgage settlement helps hundreds of thousands of troubled homeowners, it will bring a wave of new foreclosures. Many lenders held off on reposessing homes during the complex negotiations between 49 state attorneys general, and federal … Continue reading
Posted in Broward County, Distressed Properties, Foreclosures, Miami-Dade County, Palm Beach County, Real Estate News, Short Sales
Tagged bank settlement, bank-owned, broward, distressed, florida, foreclosure, government, homes for sale, increased, miami, mortgage deal, palm beach, short sale, single family homes, south florida
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