Archive for July, 2009
Lenders: Repo Home Prevention Goal Within ReachJuly 20th, 2009
Some of the biggest loan services in the country claimed that they have modified or refinanced a considerable number of distressed loans, and thus, helping many homeowners save their … More >>
1.5 Million REO Properties for Sale in Six MonthsJuly 17th, 2009
About 1.53 million REO properties for sale were posted all over the country from January to June 2009. More >>
Program Failed to Contain Foreclosed Homes in First 6 MonthsJuly 16th, 2009
Based on a report on foreclosed homes nationwide in the first 6 months of 2009, the Making Home Affordable Program failed to make a substantial dent on foreclosures across the country. More >>
Obama Considering Foreclosed Home Prevention AidJuly 15th, 2009
Because of continued pressure on the Obama administration to step up its foreclosed home prevention program, President Obama and other administration officials are considering two options … More >>
Banks' Latest Strategy: Delay REO Properties for SaleJuly 14th, 2009
Thousands of foreclosed properties across Florida are in limbo right now. Distressed homeowners abandoned them while banks delay their official takeover of the properties. More >>
Geithner, Donovan Press Banks to Rev Up Foreclosure HelpJuly 13th, 2009
The CEOs of the nation's largest banks were urged last week by Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan to step up their loan … More >>
More Seattle Foreclosed New Homes as Developer Miss PaymentsJuly 10th, 2009
The number of foreclosed new homes in Seattle has risen further after Conner Homes, one of the top homebuilders in Seattle, failed to pay Bank of America its $24.8 million development … More >>
Jumbo Loans to Buy Higher-Priced Repossessed Houses for SaleJuly 9th, 2009
One of the main reasons for the slower pace in the sale of higher-priced repossessed houses for sale is the difficulty in obtaining jumbo loans. More >>
New Appraisal Law Uses Repo Houses for Sale As ComparablesJuly 8th, 2009
Many builders, consumers, lenders and real estate agents are complaining over the new appraisal rules that resulted to lowballed valuations, which means appraising a property way below its … More >>
Donovan: More Modifications to Contain REO PropertyJuly 6th, 2009
California distressed homeowners, particularly in Northern San Joaquin Valley, were assured by U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan that changes would be made … More >>
