You are here: Home \ Foreclosures

From the category archives:

Foreclosures

Countrywide Faces More Lawsuits

by John TayebFebruary 1, 2011 Foreclosures

Bank of America Corp.’s Countrywide continues to be a thorn in its side. Bank of America acquired Countrywide in 2008 and the mortgage unit has faced countless lawsuits accusing it of misleading investors about its finances and lending practices. The latest lawsuits come from the states of Michigan and Oregon and Fresno County, Calif., and [...]

1 comment Read the full article →

Is Inexperience Hampering the Short Sale Process?

by Tayeb Realty GroupFebruary 1, 2011 Foreclosures

Inexperienced real estate professionals are to blame for hampering the short sale process, according to two real estate professionals who specialize in distressed sales. “The banks know who’s experienced and who’s not,” said real estate pro Travis Waller at a recent conference in New York. “If you don’t present the files correctly to the bank, [...]

1 comment Read the full article →

Countrywide Accused of ‘Massive Fraud’

by Tayeb Realty GroupJanuary 26, 2011 commercial real estate

Countrywide, which was acquired by Bank of America Inc. in 2008, is being accused of “massive fraud” and misleading investors about mortgage-backed securities, according to a lawsuit filed Monday in the New York State Supreme Court. The investors say they purchased millions of dollars of Countrywide mortgage-backed securities from 2005 to 2007 and believed they [...]

1 comment Read the full article →

Mortgage Fees Rising Again

by John TayebJanuary 26, 2011 Foreclosures

Some lenders already are charging borrowers higher “loan-level price adjustments” that take effect April 1 for mortgages delivered to Fannie Mae. The fees will not affect borrowers with FICO scores above 740 and loan-to-value ratios of 75 percent or less; otherwise, though, the costs could as much as double in some cases. Given that home [...]

1 comment Read the full article →

Neugebauer: Foreclosure Aid Hurting, Not Helping

by Tayeb Realty GroupJanuary 26, 2011 Foreclosures

Rep. Randy Neugebauer, the chairman of the House Financial Services Oversight Subcommittee, said the government needs to come to terms with the fact that its foreclosure-prevention efforts are failing and actually making the housing market worse. The Texas Republican said the programs need to be shut down because they are preventing the housing market from [...]

1 comment Read the full article →

Low-Tax States Lure New Residents

by John TayebJanuary 25, 2011 Foreclosures

More home owners may start factoring in taxes more as they pick where to live, particularly as some states’ dramatic tax increases make them less affordable. Some of the states with the largest population gains from the 2010 U.S. Census are also known as low-tax states, such as Florida, Texas, and Nevada, Reuters News reports. [...]

1 comment Read the full article →

Buyers Get Picky When Home Shopping

by Tayeb Realty GroupJanuary 25, 2011 Foreclosures

Buyers want “perfection and comfort,” says John B. Badalamenti, an associate broker at Prudential Fox & Roach Realtors in Wayne, Pa. “As a result of the staging craze, buyers have become a bit spoiled,” Badalamenti told the Philadelphia Inquirer. “Homes are almost being put on the market as museum pieces. You can bounce a dime [...]

1 comment Read the full article →

What Would a Foreclosure Claims Commission Do?

by John TayebJanuary 20, 2011 Foreclosures

Sheila Bair, Federal Deposit Insurance Corp chair, called for a new commission that would compensate home owners who have lost their homes to foreclosure because of mistakes lenders made. She suggested the claim’s commission be modeled after ones created to compensate victims of the BP oil spill and the Sept. 11, 2001, terrorist attacks. Her [...]

0 comments Read the full article →

Down Payments Under 30% Risky?

by Tayeb Realty GroupJanuary 17, 2011 Foreclosures

The mortgage industry is divided over how much down payment a borrower should be required to have in order to be considered less risky. Regulators have until April to come up with a down payment requirement as part of the Dodd-Frank financial overhaul legislation. Wells Fargo & Co., the nation’s largest mortgage lender, has asked [...]

1 comment Read the full article →

2011 Mortgage Trends: Jumbo Loans, Cash Buys

by Tayeb Realty GroupJanuary 14, 2011 commercial real estate

The number of mortgage applications for home purchases is expected to become a bigger part of the mortgage market in 2011 as home prices stabilize, predicts the Mortgage Bankers Association. Refinancing has mostly dominated in recent months as home owners looked to lock-in low interest rates, but experts predict refinancing to slow as new mortgage [...]

2 comments Read the full article →
Page 3 of 26«12345»1020...Last »