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Industry News
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Squatters in their own house: When banks don't foreclose
It's been more than 16 months since Eugene and Patricia Harrison last paid the mortgage on their Perris, Calif., home. Eleven months since the notice got slapped on their front door, warning that the house would be sold at auction.
CUT and PASTE following Website URL:
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/04/AR2010030405442.html
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HR 6133 - "Prompt Decision for Qualification of Short Sale Act of 2010,"
Relief may be on the way for homeowners who are under water with their mortgage and owe more on the loan than the current value of the house. HR 6133 would impose a deadline on lenders to respond to short-sale requests. The bill is supported by the National Association of Realtors.
The legislation, "Prompt Decision for Qualification of Short Sale Act of 2010," was offered this month in Congress by Reps. Robert Andrews (D-N.J.) and Tom Rooney (R-Fla.). The bill would require lenders to respond to consumer short sale requests within 45 days.
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The number of Californians entering foreclosure is at lowest level since 2007
Notices of default against California homes dropped 17% in the second quarter from the first quarter and 19.2% from the second quarter of 2010. Banks repossessed 10.9% fewer homes than a year ago and 1.4% fewer than in the first quarter.
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Early Mortgage Delinquencies Rise
More homeowners fell at least one payment behind on their mortgages last quarter, according to the Mortgage Bankers Association, but it sees no wave of foreclosures waiting in the wings.
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Bankruptcy Foreclosure Scams
For $800 and the Deed To Your Home--
Bankruptcy Foreclosure Scams Target Distressed Home Owners
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