All Entries in the "Learning Center" Category
Program Will Pay Homeowners to Sell at a Loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
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Giant bank, giant struggle in providing mortgage help
Two years after swallowing the troubled mortgage giant Countrywide Financial, Bank of America trails other major U.S. lenders in resolving troubled home loans through short sales or modified loan terms.
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Are banks delaying foreclosure sales in your condo or homeowner community?
A new ruling by a South Florida Circuit Court shows banks may be held financially accountable for purposely delaying foreclosure sales
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Increasing numbers of Californians are suing lenders to avoid foreclosures
Two weeks before their Sunnyvale home was to be auctioned off on the courthouse steps, Sonia Leverman and her sons seized on a desperate David-vs.-Goliath strategy: They sued their lender.
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Wells Fargo Lending a Hand in Mortgage Modification Program
The nation’s fourth largest bank, Wells Fargo, is offering its financial services to help underwater homeowners to refinance and avoid foreclosure.
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Pending U.S. Existing Home Sales Unexpectedly Fall
The number of contracts to buy previously owned U.S. homes unexpectedly declined in January, showing the extension of a tax credit is sparking little interest.
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Man Who Bulldozed Home Could Lose Business Too
The man who made national headlines for tearing down his home with a bulldozer said his legal troubles are not over yet.
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Home, saved from foreclosure, seized by fire
Perhaps, Art Cruz said, he’s reached the bottom of his woes. “What else can go wrong right now?” he said Sunday afternoon, shortly after a fire tore through his home.
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Government Considers More Restrictions on Bank Foreclosures
Banks Would Have to Verify Homeowners do not Qualify for Loan Modification Programs Before Foreclosing.
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Many borrowers in default stay put as lenders delay evictions
Despite being months behind, many strapped residents are hanging on to their homes, essentially living rent-free. Pressure on banks to modify loans and a glut of inventory are driving the trend.
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Ohio man bulldozes $350K home to avoid foreclosure
An Ohio man says he bulldozed his $350,000 home to keep a bank from foreclosing on it.
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