New Legislation Key to Drop in Foreclosure Starts

Mortgages

New Legislation Key to Drop in Foreclosure Starts

New Legislation Key to Drop in Foreclosure Starts

The new year saw a substantial improvement to the country’s housing market, as the number of foreclosure starts nationwide dipped markedly from a month and year earlier. More than 150,000 filings were recorded during January, according to RealtyTrac’s Foreclosure Market Report, which was 7 percent less than the figure seen in December and nearly 30… Read More

Is the U.S. Violating Its Own Credit Reporting Laws?

Credit Score

Is the U.S. Violating Its Own Credit Reporting Laws?

Is the U.S. Violating Its Own Credit Reporting Laws?

The U.S. Supreme Court is trying to determine whether the federal government should be held accountable for the way it may have exposed consumers to identity theft. The case in question, U.S. v. Bormes, involves the government listing several details of consumers’ credit card numbers when they paid fees through the U.S. government’s Pay.gov payment… Read More

Loan Modifications Get Messier

Mortgages

Loan Modifications Get Messier

Loan Modifications Get Messier

Key provisions of federal legislation known as the Helping Families Save Their Homes Act of 2009 either “encourages” or “requires,” depending on how you read the vaguely worded law, mortgage servicers to modify loans. Mega-lenders were trying to do the right thing. Yet as soon as they entered in to the agreement, they were sued by the investors who really owned these loans. Loan modifications are getting messier.

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