Foreclosure News

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Stimulus Plan to Include Housing Relief Provisions

Although exact details are lacking on the mortgage relief provisions of the economic stimulus package, we do know policymakers plan to use the FHA, Freddie Mac and Fannie Mae to pump life into the housing market.

28Jan2008 | | 1 comment | Continued
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Subprime Crisis or Stated Income Crisis?

Loose lending practices extended beyond subprime during the housing boom. Option ARMs accounted for up to 90 percent of the profits some lenders made in the hottest housing markets.

21Jan2008 | | 3 comments | Continued
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City Sues Mortgage Lender Over Foreclosures

An unprecedented federal lawsuit filed Tuesday by the city of Baltimore accuses mortgage giant Wells Fargo of engaging in predatory and discriminating loan practices. City officials estimate they could recoup “tens of millions” in damages.

10Jan2008 | | 0 comments | Continued
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Tax-Exempt Bonds May Be Used to Help Homeowners Refinance

With foreclosures on the rise in nearly every area of the country, the White House is under pressure from consumer advocates to do something to address the crisis. One of the latest solutions involves letting states issue tax-exempt bonds to help troubled homeowners refinance.

4Jan2008 | | 2 comments | Continued
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JACKSON HIGHLIGHTS FORECLOSURE PREVENTION MEASURES AT WORKSHOP TO HELP MICHIGAN FAMILIES KEEP THEIR HOMES

HUD announces incentives for using reliable, government-backed mortgages to find a homeDETROIT – More Michigan families can obtain financial relief from their exotic subprime home loans, thanks to a new government-backed refinancing resource offered by the U.S. Department of Housing and Urban Development’s Federal Housing Administration (FHA). HUD Secretary Alphonso Jackson highlighted the new FHASecure [...]

7Dec2007 | | 0 comments | Continued
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Avoid Foreclosure in the Inland Empire

Looks like the Inland Empire may recieve much needed assistance and homewers may be able to avoid foreclosure with a new plan by our governor.  Gov. Schwarzenegger came to Riverside on Thursday to alert homeowners living in one of the nation’s most mortgage-troubled regions about options that may save their homes from foreclosure. Schwarzenegger announced [...]

30Nov2007 | | 0 comments | Continued
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