*Google Earth Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn’t know their house on Maiden Street, in a blighted east side Detroit neighborhood, was already listed for auction. In a June 18, 2016 photo, a woman who chose
Leaders in mortgage servicing are changing the perception of the mortgage servicer as a faceless, automated machine that lumps them into a category based on one single data point — monthly payment due date. Much of this transformation is fueled by appropriate analysis of the data contained in each loan file. Progressive, personal loss mitigation
*Google Earth Picture Distinguishing its prior ruling in U.S. Bank National Ass’n v. Quadomain Condominium Ass’n, the District Court of Appeal of the State of Florida, Fourth District, recently held that a foreclosure of a homeowners association’s lien against the property owner filed after the recording of a lis pendens by a first mortgagee is not barred,
A fresh infusion of money from the U.S. Treasury has breathed new life into two programs that helped Oregonians avoid foreclosure or get up-to-date on their mortgages in the wake of the Great Recession. Oregon received two federal grants in February and April totaling $94.5 million to refill its share of the Hardest Hit
Because foreclosures represent a process that may or may not end up with the bank owning the home, foreclosure completions are a better indicator of foreclosure activity than foreclosure starts. In May, the total foreclosure inventory fell 25% from a year ago to 390,000 homes. This works out to be about 1% of all
Foreclosure activity in central Ohio dropped sharply in May due to a dramatic decline in bank repossessions and sheriff sales, according to figures released this morning by RealtyTrac. The real-estate data firm found that 635 foreclosure-related documents were filed during May in the 10 central Ohio counties it tracks, down from 1,501 a year
Washington, D.C. – June 29, 2016 – (RealEstateRama) — The District of Columbia Housing Finance Agency (DCHFA) is closing out Homeownership Month by reopening the HomeSaver Phase I mortgage assistance program. This year, the Agency received two funding allocations totaling $8,047,933 from the U.S. Department of the Treasury’s Hardest Hit Fund (HHF). This award will
Questions remain unanswered about Detroit demolitions Until this month, no city-funded demolition contracts had been sent to the council since 2012 as required by city law. 1 Way Service, a Detroit contractor, demolished a commercial building at 18730 Charleston Street on June 20, 2016 for $47,800, according to the city of DetroitÕs demolition database.
To amend the Internal Revenue Code of 1986 to extend for 2 years the exclusion from gross income of discharges of qualified principal residence indebtedness. Mr. Reed (for himself, Mr. Rangel, Mr. Heck of Nevada, Mr. Paulsen, Mr. Young of Indiana, Mr. Tiberi, Mr. Buchanan, Mr. Schock, Mr. Neal, Mr. Thompson of California, Mr.
The report released Thursday by a special inspector general says the $622 million fund “is significantly vulnerable to the substantial risks of unfair competitive practices and overcharging, either of which could lead to fraud, waste, and abuse.” Money from the fund is used by communities to tear down vacant houses and other blight elimination