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N.J. continues to lead in foreclosures as country rebounds

*Google Earth Image Nationwide, properties starting the foreclosure process during the first half of 2016 were down 17 percent from the same time last year, the lowest figures recorded since 2006, according to data recently released by RealtyTrac. One in 249 housing units currently have a foreclosure filings in the United States, or 533,813 properties. The homes in foreclosure account

Is It Time to Kill Fannie Mae? A $100 Billion Plan for the Mortgage Market | The Fiscal Times

A plan to reform the mortgage finance industry by replacing Fannie Mae and Freddie Mac with a government-owned corporation offers insights into how presumptive Democratic presidential nominee Hillary Clinton might strengthen the housing market and guard against another financial crisis.   The latest proposal floated by a team of high-profile financial thinkers led by Gene

Foreclosure bill passes Massachusetts Senate

BOSTON — The Massachusetts Senate on Thursday passed a bill that would allow cities like Springfield to require banks to post a bond that can be used to maintain vacant, foreclosed properties.   State Sen. Eric Lesser, D-Longmeadow, said on the Senate floor that the bill “preserves Springfield’s ability to take measures to protect property

Schneiderman touts new foreclosure requirements on banks | WBFO

A new law will crack down on ‘”zombie houses.”  Governor Andrew Cuomo signed the law this past week. It  now means new requirements for mortgage lenders. They must maintain abandoned houses before foreclosure. “It is tremendously important that we understand we are still digging ourselves out of the (2008) crash,” Schneiderman said. “The work we

Text – H.R.1002 – 114th Congress (2015-2016): Mortgage Forgiveness Tax Relief Act of 2015 | | Library of Congress

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.

FHFA: Here’s What HAMP Borrowers Facing Resets Can Do – DSNews

Fannie Mae and Freddie Mac have offered several possible solutions for borrowers who received modifications through the government’s Home Affordable Modification Program (HAMP) who are facing increased monthly payments when the interest rates on their modifications reset, according to the FHFA’s 2015 Annual Report to Congress released on Wednesday. The government launched HAMP in February 2009
IMPORTANT: The text in this website and product(s) sold on this website do not substitute for legal advice. Nor does the text substitute for real estate, financial, tax, bankruptcy or other professional advice. Loan Modification Key® and its owner(s) cannot and do not guarantee results from any lender or servicer. Loan Modification Key® and its owner(s) do not represent any loan modification program or governmental program. Loan Modification Key® and its owner(s) do not represent any government agency. The text herein represents information, opinion and expertise gathered in the last several years' experience in the mortgage industry. Loan Modification Key® is a non-profit 501 (c)(3) tax-exempt organization.
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