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foreclosures

HUD Decision Abandons Relief for Non-Borrowing Surviving Spouses

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When a company like Bank of America causes a problem or harms individuals, resulting in a loss of equity, they typically get in trouble. If General Motors Company (GMC) releases a truck with faulty brakes, whether those brakes were farmed out to a third-party or not, GMC recalls the vehicle and gets in front of the issue. If these cases typically run true, then why hasn’t the U.S. Department of Housing & Urban Development (HUD) come under fire for harming elderly individuals who have taken part in a reverse mortgage?Click to continue

The Viability of GSE Recapitalization

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During a recent National Housing Conference Annual Policy Symposium in Washington, D.C., Treasury Undersecretary Mary Miller discussed the uncertain future of the government-sponsored entities (GSEs). She also covered the basics of the post-economic disaster and its meager, slow-moving recovery.Click to continue

Quandis Announces New Servicemember Search for the Prevention of Foreclosure

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Quandis Inc. has announced that it has rolled out a new feature within its existing military search service that identifies multiple name variations of borrowers which could have active duty status in the U.S. military. If in default but on active duty, certain rules prohibit foreclosure.Click to continue

Massachusetts AG Sues GSEs for Foreclosure Prevention Violations

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Citing a refusal to engage in foreclosure buyback programs is unfairly and illegally causing Massachusetts families to lose their homes, Massachusetts Attorney General Martha Coakley has sued the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, for violating the state’s 2012 foreclosure prevention law.Click to continue

April Residential Property Sales Increase Four Percent Over Last Year

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RealtyTrac released its April 2014 Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 5,213,793 in April, a decrease of less than one percent from March but an increase of four percent from April 2014.Click to continue

Do You Have a Strategy to Generate Purchase Loans?

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As we get through the first quarter of 2014, I think it’s pretty clear refinances are not coming back anytime soon. Over the last seven years, I’ve consulted countless mortgage companies, including individual branches, specifically on profitability. What I’m seeing today is that some companies are trying to cut their expenses in order restore profitability. But we all know what the real issue is … it’s getting more loans and the challenge becomes how do we do it and where do we start?Click to continue

Las Vegas-Area Home Sales Drastically Slow in February

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Las Vegas-area homes sold at the slowest pace for a February in five years as the inventory of homes for sale remained tight and some buyers faced credit and affordability challenges. The median price paid for a home edged up from January and rose 24 percent from a year earlier, marking the 16th consecutive month with an annual gain over 20 percent, according to San Diego-based DataQuick. In February, 3,230 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County).Click to continue

NeighborWorks Awards NFCC Nearly $2.5 Million to Support Foreclosure Counseling

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NeighborWorks America has awarded the National Foundation for Credit Counseling (NFCC) Intermediary $2,416,873 to support foreclosure prevention counseling. This much-needed funding will enable the 50 NFCC member agencies that make up the Intermediary to continue providing foreclosure prevention counseling to families and individuals facing the threat of losing their home.Click to continue

Southern California Home Sales Dip to Six-Year Low in February

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Southern California home sales dropped to the lowest level for a February in six years as many would-be buyers struggled with inventory constraints, credit hurdles and reduced affordability. The median price paid for a home edged up slightly from January and remained nearly 20 percent higher than a year earlier, according to San Diego-based DataQuick. A total of 14,027 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month.Click to continue