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underwater mortgages

Is Eminent Domain Gotham Bound?


With rumblings that the eminent domain seizure plan that swept across parts of California is on its way to New York, it’s important to look at the history of the issue.Click to continue

Richmond City Council Approves Launch of Eminent Domain Trial


The issue of eminent domain law has been widely discussed over the past few weeks, since news of Mayor Gayle McLaughlin proposed a process of seizure through which residents of Richmond, Calif. would receive a break from underwater mortgages.Click to continue

The Importance of Local Leadership

Leadership Pic/Copyright: Getty Images/Credit: Jupiterimages

Another election has come and gone. Barack Obama has remained as the 44th President of the United States of America. On a national level, there is much work to be done. Our society is a tug-of-war between opposing and evolving values. Our economy hangs in the balance between progress and utter disaster. The development of our society and economy over the next four years will determine the true caliber of leadership that exists in our most recently elected president.Click to continue

Nine AGs Demand FHFA Stability in Letter to Congress


New York Attorney General Eric T. Schneiderman has joined Massachusetts Attorney General Martha Coakley in leading a nine-state coalition demanding new, permanent leadership at the Federal Housing and Finance Agency (FHFA), the agency that oversees the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac.Click to continue

FinCEN Reports Foreclosure Rescue Scams on the Rise

Foreclosure Dictionary Pic

Suspicious activity reports (SARs) regarding foreclosure rescue scams continued to grow in the first half of 2012, even as the total number of SARs indicating mortgage loan fraud (MLF) declined, the Financial Crimes Enforcement Network (FinCEN) has announced in its latest Mortgage Loan Fraud Update. This update to FinCEN's prior MLF reports looks at SAR filings from April through June 2012 (2012 Q2).Click to continue

Housing Experts Feel Strong Housing Market Rebound Around the Corner

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Economists expect home prices to rise by a total 2.3 percent during 2012, and overall have become more bullish on home prices than they were in the second quarter, according to the September 2012 Zillow Home Price Expectations Survey, compiled from 113 responses from a diverse group of economists, real estate experts and investment and market strategists. The survey, sponsored by Zillow Inc. and conducted by Pulsenomics LLC, is based on the projected path of the S&P/Case-Shiller U.S. National Home Price Index during the coming five years.Click to continue

Eighteen Percent of Current Mortgages Are Underwater Nationwide


The July Mortgage Monitor Report released by Lender Processing Services Inc. (LPS) shows that national foreclosure inventories remain stable—and near historic highs—while delinquencies, down 30 percent from the January 2010 peak, continued to decline slightly for the month. The report also highlights the link between negative equity and new problem loans.Click to continue

HARP Refis Maintain Strong Pace in July


The Federal Housing Finance Agency (FHFA) has released its July Refinance Report, which shows a key milestone was reached when more than 519,000 loans were refinanced through Fannie Mae and Freddie Mac under the Home Affordable Refinance Program (HARP) since the beginning of this year.Click to continue