News on Foreclosures

Calif. politics has short sellers facing big bills

2010-03-17T15:45:19Z

<div id="subtitle">Californians losing their homes face big tax bills unless Schwarzenegger, lawmakers compromise</div><div><p>What should have been a legislative afterthought is threatening to become a financial purgatory for thousands of California taxpayers hit by the housing crisis.</p><p>With less than a month until tax filings are due, struggling Californians who received mortgage modifications or lost ...

Homebuilder sentiment index falls in March

2010-03-15T13:18:08Z

<div id="subtitle">Homebuilder sentiment index drops in March as weather, foreclosures put damper on outlook</div><div><p>Harsh winter weather and competition from deeply discounted foreclosures are putting a damper on sales prospects for homebuilders.</p><p>The National Association of Home Builders said Monday its housing market index, which tracks indust...

Despite National Drop, Foreclosures In Connecticut On The Rise

2010-03-12T12:33:50Z

BRIDGEPORT, CT - MARCH 12: An abandoned property is boarded up on March 12, 2010 in Bridgeport, Connecticut. A new report by RealtyTrac Inc. announced that the number of foreclosed homes in Connecticut, one of the nation's wealthiest states, is up 3.4 percent from January to February of this year. Nationwide foreclosures have decr...

Treasury says 1 million homeowners in loan modifications

2010-03-12T11:45:35Z

<div><p>WASHINGTON (Reuters) - An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers, though fewer than 10 percent have obtained permanent loan modifications, according to a Treasury Department repo...

Homeowners seek help at Glendale foreclosure event

2010-03-12T09:15:48Z

<div id="subtitle">Hundreds of homeowners seek help avoiding foreclosures at fed-sponsored event in Arizona city</div><div><p>Hundreds of homeowners trying to avoid losing their homes to foreclosure met with housing counselors and lender representatives at an event in Glendale on Thursday.</p><p>At least 500 homeowners met with counselors approved by the federal Housi...

Summary Box: Foreclosures grow more slowly

2010-03-11T11:30:20Z

<div id="subtitle">Summary Box: Foreclosures rise by the smallest amount in 4 years</div><div><p>FORECLOSURES UP: Foreclosure listing service RealtyTrac says the number of households facing foreclosure last month grew 6 percent from a year ago.</p><p>SLOWER RATE: It was the smallest yearly increase in four years. Foreclosures have started to fall in Nevada...

Foreclosure rates up by smallest amount in 4 years

2010-03-11T07:16:42Z

<div id="subtitle">Foreclosures rise 6 percent in February, smallest yearly increase in 4 years</div><div><p>The foreclosure crisis isn't over, but the pace of growth may finally be slowing down.</p><p>RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from a year ago, the smallest a...

Lawmaker is working to improve loan modifications

2010-03-05T11:32:23Z

<div id="subtitle">Key House member is working to improve loan modification program to reduce foreclosures</div><div><p>A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borr...

Hovnanian CEO: Glut of unsold homes easing

2010-03-03T13:19:05Z

<div id="subtitle">CEO of homebuilder Hovnanian says market could withstand a 'little' increase in foreclosures</div><div><p>The CEO of Hovnanian Enterprises Inc. said a modest surge in foreclosures this year wouldn't have a devastating effect on the homebuilder's sales.</p><p>Ara Hovnanian said new construction and the inventory of homes for sale have fallen well below normal levels in many cities. So ...

STIMULUS Ôa TOUGH SELLÕ

2010-02-23T02:31:23Z

<div id="subtitle">Its benefits ring hollow here, Titus finding</div><div><p> Rep. Dina Titus had a remarkable statistic on hand as she drove around Henderson, meeting with local businesses last week: Of the 20 ZIP codes with the most foreclosures in the nation, 13 of them are in her 3rd Congressional District. Although Titus and her fellow Bank of America'sannouncement earlier this week of a surge in the number of home loan modifications, Wells Fargo reports it too, is making progress in reworking troubled mor...

Report: Fewer people falling behind on home loans

2010-02-22T08:18:56Z

&lt;div id="subtitle"&gt;New mortgage delinquencies fell at end of 2009 as foreclosure crisis begins to ebb&lt;/div&gt;&lt;div&gt;&lt;p&gt;The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling behind on their loans is declining.&lt;/p&gt;&lt;p&gt;The drop means the number of people losing their homes will start to fall. But so...

Foreclosures

2010-02-19T13:17:55Z

In this photo made Sept. 16, 2009, a foreclosed home is shown in Owosso, Mich. The number of borrowers falling behind on their mortgage payments dropped sharply at the end of 2009, a sign the foreclosure crisis is beginning to ebb. (AP Photo/Paul Sancya)

...

Mortgages foreclosing, delinquent at 15 percent in Q4

2010-02-22T08:18:59Z

&lt;div&gt;&lt;p&gt;NEW YORK (Reuters) - A record proportion of U.S. mortgages were in foreclosure or at least one payment past due in the fourth quarter, according to industry data showing the fragile state of the recovery in the housing market.&lt;/p&gt;&lt;p&gt;The

Foreclosures down in January, but surge on way?

2010-02-22T10:11:12Z

<div id="subtitle">Foreclosure rate down from December to January, though still above last year's levels</div><div><p>The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in cash-strapped homeowners who've fallen behind on mortgages could be on the way.</p><p>More than 315,000 household...

Citi to let distressed homeowners stay for 6 mos.

2010-02-22T10:11:11Z

<div id="subtitle">Citigroup plan lets homeowners avoid foreclosure, stay for 6 months if they turn over deed</div><div><p>Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.</p><p>Citi said Thursday it is launching the pilot program, dubbed "Foreclosure Alt...

Renters of Foreclosed Properties in Connecticut Have Rights

2010-02-22T10:39:07Z

<div id="subtitle">But many renters remain unaware of new law</div><div><p>Homeowners aren't the only ones affected by the foreclosure crisis. Renters also face problems, not of their own making, when their landlord defaults.</p><p>Thanks to legislation signed into law in Connecticut last year, renters have new rights and can't be immediately evicted. Before t...

AP analysis: US economic stress hit a peak in Dec.

2010-02-22T10:50:29Z

<div id="subtitle">US economic strains hit a peak in December as Western states weakened, AP stress map shows</div><div><p>Weakness in Western energy-producing states helped raise the average U.S. county's economic stress in December to its highest point since the recession began in December 2007, according to The As...

Ohio Sues California Foreclosure Rescue Operations for Conning Consumers

2010-02-22T11:59:56Z

<div id="subtitle">Attorney General's lawsuit targets Orange County law firm, disbarred attorney</div><div><p>Ohio Attorney General Richard Cordray this week named United Law Group, Inc. (ULG), a Oahu households, was in foreclosure in 2009</div><div><p>Foreclosures on Oahu may have been way up last year, but a new study says the island still had a lower foreclosure rate than 126 other major metropolitan areas of the nation.</p><p>Foreclosure listing firm