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14 Articles match "2008","Foreclose","Laws"
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The Latest from RealtyTrac
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National Registration For Loan Officers Becomes Reality
But that’s about to change because registering mortgage loan officers is now the law of the land. The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 , part of the FHA reform bill, sets in place national standards for mortgage loan officers. Seen another way, the new law makes mortgage lending more transparent, something which will reduce foreclosure rates, cut lender losses and make mortgages more enticing to investors worldwide. “Across the country we carefully National Registration For Loan Officers Becomes Reality By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
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The Best from RealtyTrac
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Foreclosures and Hurricanes: A Nasty Combo
The Institute of Business and Housing Safety is reporting that the increasing number of abandoned or vacant foreclosed homes is so great as to generate real concern for the oncoming hurricane season this year. reported a rise in homeowner vacancies for the first quarter of 2008 from the previous quarter and the same quarter a year ago. The potential for damage The fallout that followed in the aftermath of Hurricane Katrina in 2005 left many Gulf Coast residents homeless or facing foreclosure — or both. Temporary relief from the devastation was granted in the form of a foreclosure
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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CO Gives Owners More Time to Fix Foreclosure
A state law that took effect Jan. Under the new law, created by H.B. The law also eliminates the 75-day redemption period previously available to homeowners. This redemption period allowed homeowners who had been foreclosed on to buy back their homes after the public foreclosure sale by paying the winning bidder the amount of the winning bid. “For 1 gives Colorado homeowners who enter foreclosure more time to “cure” the loan in foreclosure before the public foreclosure sale.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure Activity Deflating or Just Deferred?
In fact, the RealtyTrac report has shown month-to-month decreases in previous months, even during the dramatic run-up in foreclosure activity that has occurred over the past year and a half: in February 2008, November 2007, September 2007, June 2007, April 2007, and February 2007. But the increases in those categories started to slow down in 2008. U.S. foreclosure activity in June decreased 3 percent from the previous month but was still up 53 percent from June 2007, according to the RealtyTrac U.S.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Foreclosures Mount, Candidates React to the Credit Crisis
With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Meanwhile, the rising flood of foreclosures promises to become a major presidential campaign issue in the weeks and months ahead because an alarming 2 million American homeowners could lose their homes by November 2008. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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BK' Doesn't Stand for Burger King
According to published reports, more than 2 million Chapter 7 bankruptcies were filed that year (an all-time high) right before the new bankruptcy law went into effect. Gerdano, who expects consumer bankruptcies for 2008 to top 1 million, according to a Reuters report. As Bloomberg.com recently reported, the likelihood of Gerdano’s prediction coming to fruition is more than a possibility given that more The only kind of whopper a person with this kind of ‘BK’ is going to get is a whopper of a headache. In this, the legal sense for the abbreviation, we’re talking about BANKRUPTCY.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Buying Foreclosures at the Auction: Make a Killing or Get Killed
“Buying foreclosed real estate at an auction is like having a license to steal,” says Larry Blachman , a Realtor who specializes in foreclosures and author of Buying Foreclosures at a Trustee’s Sale. But buying foreclosed homes at an auction is also probably the most dangerous way to purchase real estate — unless you know how the process works. “If If you know the game, But successfully buying foreclosed properties off the auction block isnt that easy. It requires knowledge, planning, preparation, patience and perseverance. Before taking the plunge, however, spend
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Study Forecasts Rising Subprime Foreclosures
The center also endorses “strong laws against foreclosure ‘rescue’ scams, banning predators from targeting struggling homeowners.” Absent from the studys executive summary and proposed solutions are any mention of the borrower’s role in preventing foreclosed subprime loans. A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
The scammers dontcreate the foreclosure rates, but they swoop in at the time thatsomeone is in distress," said Elizabeth Renuart, a staff attorney withthe National Consumer Law Center in Boston and the author of "DreamsForeclosed: The Rampant Theft of Americans Homes ThroughEquity-Stripping Foreclosure Rescue Scams." That transaction should include…A) Cash wiring instructions to the foreclosing bank (often by Western Union) B) A three-day right of recession, and a share purchase agreement, C) verifiable information of the person purchasing the property, including personal and financial
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Is Eight Enough?
The state government enacted new laws addressing the issue, one of which gave homeowners more time on the front end of the foreclosure process to try to work out a way to stop or avoid the foreclosure. The bill also earmarks $4 billion in grants for local communities to buy up foreclosed properties that may be negatively affecting the communities. The number of properties with some sort of foreclosure action against them (default notice, auction notice, bank repossession) has consistently risen for the past eight quarters (see chart). While there have been monthly fluctuations
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Home Prices Plummet, When Will You Buy?
We sold a condo and bought a single-family home.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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