http://iamfacingforeclosure.com Learning about foreclosure risks and avoiding foreclosure. en http://iamfacingforeclosure.com/viewnews/2010-03-12_MortgageagreementshalvedinJanuary.html http://iamfacingforeclosure.com 2010-03-12 "The January downturn in the property market has been underlined by the latest figures from the Council of Mortgage Lenders (CML)" http://iamfacingforeclosure.com/viewnews/2010-03-12_BofAMakes21000HAMPModificationsPermanent.html http://iamfacingforeclosure.com 2010-03-12 " Bank of America (BAC: 17.06 -0.35%) reported 21,000 permanent modifications under the Home Affordable Modification Program (HAMP) through February." http://iamfacingforeclosure.com/viewnews/2010-03-12_PonderingOurCollapseWhileWeWatchOthersFall.html http://iamfacingforeclosure.com 2010-03-12 "The collapse of currencies and nations won’t happen overnight, because their demise has been planned, and a subtle collapse is in process. Our guess is that next year is when the collapse will finally take place followed by one of the greatest deflationary depressions of all time." http://iamfacingforeclosure.com/viewnews/2010-03-12_Newroundofforeclosuresthreatenshousingmarket.html http://iamfacingforeclosure.com 2010-03-12 "The housing market is facing swelling ranks of homeowners who are seriously delinquent but have yet to lose their homes, and this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize." http://iamfacingforeclosure.com/viewnews/2010-03-12_NewFlowOfFundsReportDemonstratesMassiveSellingInAgencyMBSHolding.html http://iamfacingforeclosure.com 2010-03-12 "Should the market dive, as many are concerned it is will once the Fed stops manipulating the mortgage (and potentially equity) market, watch all this intangible net worth disappear, as unbooked profits are just that - unbooked. " http://iamfacingforeclosure.com/viewnews/2010-03-12_ForeclosureFilingsDropPreventionPoliciesDistortingSupplyandDeman.html http://iamfacingforeclosure.com 2010-03-12 " The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 properties in the United States received one of the listed notices during the month. This equates to 1 house in every 418 units. Compare that to January's ratio of 1 in every 409. That works out to a 10% month over month improvement. However, when comparing data from one year ago (Feb 2009), the ratio is still 6% worse." http://iamfacingforeclosure.com/viewnews/2010-03-12_ForeclosuresontheRiseBankquakesNotEarthquakes.html http://iamfacingforeclosure.com 2010-03-12 ``A bankruptcy filing should have stopped the eviction. It didn't. These are the bureaucratic games they play with people's lives.'' http://iamfacingforeclosure.com/viewnews/2010-03-12_ConnecticutAGsuesMoodysSPoverdebtratings.html http://iamfacingforeclosure.com 2010-03-12 ``Connecticut's attorney general sued Moody's Investors Service and Standard & Poor's over ratings the agencies issued on risky investments. In the civil lawsuit filed Wednesday, Attorney General Richard Blumenthal alleged Moody's and S&P knowingly assigned false ratings to complex investments that pushed the country into recession.'' http://iamfacingforeclosure.com/viewnews/2010-03-11_TheDeathofMortgageRefinanceLooms.html http://iamfacingforeclosure.com 2010-03-11 ``Who in the world that qualifies for a refinance (guidelines and equity ain’t changin’ any time soon) will be at a rate high enough to be in need of a 6.25% 30 year fixed. The answer is nobody.'' http://iamfacingforeclosure.com/viewnews/2010-03-11_ForeclosuresuittarnishesSilverTowercondoproject.html http://iamfacingforeclosure.com 2010-03-11 "Bank of America has filed a $40-million foreclosure lawsuit on a 225-unit River North condominium project in what could be a preview for other slow-selling downtown high-rises." http://iamfacingforeclosure.com/viewnews/2010-03-11_shortsaleprogramslammedbyappraisers.html http://iamfacingforeclosure.com 2010-03-11 " Just days after details of the Treasury’s streamlined short sale program were revealed, several leading appraiser groups have criticized the proposal." http://iamfacingforeclosure.com/viewnews/2010-03-11_GovernmentInterventionInHousingOftenAMistakeForCommunitiesAndTax.html http://iamfacingforeclosure.com 2010-03-11 " So what happens when government steps in to revitalize neighborhoods and make more people homeowners? Sometimes neighborhoods are hurt and homeowners go into foreclosure." http://iamfacingforeclosure.com/viewnews/2010-03-11_HomeEquityLendingThatFueledConsumerSpendingtoRecover.html http://iamfacingforeclosure.com 2010-03-11 "Rising home prices and an improving economy will spark a modest rebound this year in U.S. home equity lending, the driver of about 2 percent of consumer spending in the first half of the decade. This time around, lenders and homeowners will be more cautious about converting their equity to cash, muting any boost to the economy after the worst slump since the Great Depression, said Greg McBride, senior financial analyst with Bankrate.com." http://iamfacingforeclosure.com/viewnews/2010-03-11_USForeclosureFilingsIncreaseatSlowestPaceinFourYears.html http://iamfacingforeclosure.com 2010-03-11 "U.S. foreclosure filings rose at the slowest pace in four years in February as the government sought to reduce record bank seizures, RealtyTrac Inc. said." http://iamfacingforeclosure.com/viewnews/2010-03-10_ForeclosurelawsuitfiascoupendsEstatesmansretirement.html http://iamfacingforeclosure.com 2010-03-10 ``... what led to Nyerges being named in the suit remains a mystery. For the most part, Nyerges is more concerned, he said, with having his family’s name cleared, damages for the time he has spent and expenses paid fighting the suit, and a return to the relative serenity he once had.'' http://iamfacingforeclosure.com/viewnews/2010-03-10_BondDealersSeeAgencyMBSSpreadsNarrowasPrepaysRise.html http://iamfacingforeclosure.com 2010-03-10 Yield spreads on agency mortgage-backed securities (MBS) narrowed to historic tights in recent months as prepay speeds increase at Fannie Mae and Freddie Mac. The factors pushing the trend are a combination of the federal program to buy agency MBS, solid demand from private investors, and a move at Fannie and Freddie to buy out delinquent loans, all which accelerate prepayment speeds. http://iamfacingforeclosure.com/viewnews/2010-03-10_TheRubberHitstheRoadHussmancommentary.html http://iamfacingforeclosure.com 2010-03-10 ``. Although the 2010 peak in the Alt-A / Option-ARM reset schedule doesn't occur until July, with a much larger peak in mid-2011, a small initial round of resets is already in progress, having started about November of last year. I would expect that if we are indeed at risk of a second wave of mortgage defaults and credit strains, it will show up first as a surprising jump in 30-day mortgage delinquencies in the data we see over the next 2-4 months. I do not expect quarters upon quarters of uncertainty. It may take longer to observe the full effect of continued mortgage delinquencies and foreclosures, but we are at about the point where the data would depart from the market's "all clear" expectations if credit pressures are likely to resume with force.'' http://iamfacingforeclosure.com/viewnews/2010-03-10_RealityCheckonProduceTheNoteStrategy.html http://iamfacingforeclosure.com 2010-03-10 ``It was heartening to see mortgage servicers taken to task and forced to follow the rules, but even in the oft-cited Byrd case, the real victory was scaled back considerably by the appellate court. While the dismissal was affirmed, the appellate court ruled that it should have been without prejudice... Those cases in which demanding the note and dissecting the paper trail resulted in a windfall for the homeowner were few and far between.'' http://iamfacingforeclosure.com/viewnews/2010-03-10_WomansaysBankofAmericawronglyrepossessedhome.html http://iamfacingforeclosure.com 2010-03-10 " A Hampton woman is suing Bank of America, saying one of its contractors wrongly repossessed her home, padlocked the doors, shut off the utilities, damaged the furniture and confiscated a pet parrot, though her mortgage payments were on time." http://iamfacingforeclosure.com/viewnews/2010-03-10_USMBAMortgageApplicationsIndexRose05LastWeek.html http://iamfacingforeclosure.com 2010-03-10 " Mortgage applications in the U.S. rose for a second week, led by an increase in purchases that may indicate the renewal of a homebuyer tax credit is starting to invigorate demand."