A new initiative spearheaded by mayor Michael Bloomberg aims to provide free legal aid to New York City residents facing foreclosure. The so-called “NYC Service… Read More »NYC Residents Facing Foreclosure to Receive Free Legal Assistance
We already know negative equity is plaguing millions of Americans nationwide, but perhaps worse is the fact that many won’t see any positive equity for… Read More »Many Homeowners Won’t See Positive Equity Until 2015
A new option that should be available by fall of this year will allow borrowers current on their mortgages to execute short refinances into FHA… Read More »FHA Short Refinance Option Coming Soon
A number of changes are expected to be announced regarding the Home Affordable Modification Program (HAMP), which should slow the pace of foreclosures, for better… Read More »New HAMP Changes to Slow Foreclosures
Bank of America announced a new strategy today to tackle the pesky underwater mortgages on its books, many acquired via its merger with Countrywide. The… Read More »Bank of America Wants You to Earn Principal Forgiveness
An unfinished condotel complex in Ft. Lauderdale associated with Donald Trump is facing foreclosure, according to the Sun Sentinel. Developers reportedly defaulted on the $139… Read More »Trump Property Facing Foreclosure
There’s been a lot of talk about short sales lately, and considerable concern about related fraud. After all, there is lots of potential profit to… Read More »How Short Sale Fraud Works
FHA commissioner David Stevens testified to Congress Thursday, arguing that a blanket minimum down payment increase for FHA loans would “adversely impact the housing market… Read More »Higher FHA Down Payment Would Shut Out 300,000 First Time Buyers
Good news folks: Foreclosure activity fell two percent last month compared with January, and was up only six percent compared with February 2009, according to… Read More »Foreclosures See Smallest Annual Increase in Four Years
Just days after details of the Treasury’s streamlined short sale program were revealed, several leading appraiser groups have criticized the proposal. The issue involves how… Read More »Short Sale Program Slammed by Appraisers
