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Investor groups are obtaining big loans to turn foreclosed properties into rentals.
Just when you think the housing market is recovering, here comes the reminder: The foreclosure crisis is far from over.
Happy Friday the 13th! Maybe you get spooked when talking about finances. Follow these tips to have good luck with your money.
The bursting housing bubble still has some fizz. The federal government and 49 state attorneys general recently reached a $25 billion settlement with mortgage lenders over alleged foreclosure abuses that helped contribute to the current housing crisis. Now some U.S. representatives want to make sure that the deal doesn’t produce tax problems for the folks
More than 230,000 mortgages began the foreclosure process in January, a 28 percent increase from December.
Is President Barack Obama’s latest plan to allow millions more struggling homeowners to refinance their mortgages actually further stalling a housing market recovery? Critics of the proposal, announced last week, say the chief drawback is that it’s setting up a delay in foreclosures, which, in turn, prevents home prices from hitting bottom. Republicans, who believe
Foreclosure filings hit a four-year low in 2011, but not entirely for the reasons you’d hope. It wasn’t that more people are able to avoid foreclosure, but due, in part, to a processing backlog resulting from the accusations that banks pushed robosigning as a way to get distressed properties through the pipeline quickly without reviewing the
Homeowners who face foreclosure will get a short break this holiday season. Fannie Mae and Freddie Mac will suspend foreclosure evictions from Dec. 19 through Jan. 2. For those whose homes are in foreclosure, this doesn’t mean the foreclosure process will be put on hold. Foreclosure proceedings will continue, but borrowers will be “permitted” to
After occupying streets and parks in various parts of the country, Occupy Wall Street activists plan their next move: occupying foreclosures. The San Francisco Chronicle reports that Occupy Oakland activists met this week to discuss not whether to occupy empty homes, but when and how to do it. One strategy the group is considering is
It’s called a deficiency judgment and it’s a nightmare for former homeowners who thought they were free of a mortgage after the bank foreclosed on their property. Since foreclosed homes hardly ever sell for an amount that covers the outstanding loan, 41 states plus the District of Columbia allow lenders to sue the homeowners for
