Elderly Woman Ignores HOA Mail, Loses Her Home

Mortgages

Elderly Woman Ignores HOA Mail, Loses Her Home

Elderly Woman Ignores HOA Mail, Loses Her Home

A Kentucky woman paid for her home in 2007 — $125,000 in cash — but she’s paying rent for that place now. After six years of failing to pay her $48 annual homeowner’s association fees and subsequent late fees, her house was foreclosed upon, according to a report from the Lexington Herald-Leader. Ingrid Boak, 75, said… Read More

Mortgage Delinquencies Hit a 5-Year Low

Mortgages

Mortgage Delinquencies Hit a 5-Year Low

Mortgage Delinquencies Hit a 5-Year Low

Foreclosures and delinquencies in the housing market have dropped to levels as low as before the recession, according to the most recent Mortgage Bankers Association’s National Delinquency Survey. The percentage of mortgages with at least one late payment dropped to a five-year low last quarter, with 6.41% of all outstanding home loans in delinquency. The… Read More

Is Your State Still Struggling With Foreclosures?

Mortgages

Is Your State Still Struggling With Foreclosures?

Is Your State Still Struggling With Foreclosures?

The housing crisis flooded the real estate market with foreclosures, and while the number of foreclosed homes on the market has declined significantly in the last year, some states are moving through the backlog faster than others. Foreclosure processes vary among states, one of the biggest differences being whether or not foreclosures require court action…. Read More

Foreclosure Rate Down 27% From 2012

Mortgages

Foreclosure Rate Down 27% From 2012

Foreclosure Rate Down 27% From 2012

The number of distressed properties last month decreased 27% from September 2012, with a little less than 1.3 million properties in some stage of foreclosure (default, auction or bank owned). That’s one in every 998 homes in foreclosure across the nation. Data from real estate site RealtyTrac showed that while foreclosures were up 2% from… Read More

Florida: Still the Top Foreclosure State

Mortgages

Florida: Still the Top Foreclosure State

Florida: Still the Top Foreclosure State

For the third consecutive month, Florida topped the list of states with the highest foreclosure rates, as outlined in RealtyTrac’s July 2013 U.S. Foreclosure Market Report. One in every 328 housing units in Florida has a foreclosure filing, which is more than three times the national average and a 7% increase from this time last… Read More

Foreclosures Skyrocket in Maryland

Mortgages

Foreclosures Skyrocket in Maryland

Foreclosures Skyrocket in Maryland

Maryland’s foreclosure starts in July increased 275 percent from last year, according to RealtyTrac’s July 2013 U.S. Foreclosure Market Report. Overall Maryland foreclosure activity — including default notices, scheduled auctions and bank repossessions — saw a 148 percent increase since July 2012 with one in every 598 housing units in foreclosure. That puts the state… Read More

What to Do if a Bank Wrongly Forecloses on You

Mortgages

What to Do if a Bank Wrongly Forecloses on You

What to Do if a Bank Wrongly Forecloses on You

Earlier this year, Katie Barnett of Athens County, Ohio, hadn’t mowed her lawn in two weeks. This led First National Bank of Wellston, Ohio, to believe they were at the right place. They began to repossess her house, hauling items out to sell or throw away, and even changed the locks. But there were two… Read More

Homeowners Out of Luck in Finding Foreclosure Relief

Mortgages

Homeowners Out of Luck in Finding Foreclosure Relief

Homeowners Out of Luck in Finding Foreclosure Relief

Bank of America is making national headlines, as six former employees filed declarations in a federal court this month alleging that the mortgage lender engaged in fraudulent practices to force customers into foreclosure. As the largest mortgage servicer in the Home Affordable Modification Program (HAMP) when the program began in 2009, Bank of America held… Read More

7 Signs Household Finances Are Getting Stronger

Personal Finance

7 Signs Household Finances Are Getting Stronger

7 Signs Household Finances Are Getting Stronger

The economic recovery is certainly in full swing and has been for some time now. That, coupled with better habits related to handling debts of all kinds, has led millions of consumers to see significant improvements in their finances over the last few years. Household debt of all kinds slipped some $110 billion in the… Read More

A Foreclosure Is Killing My Credit, What Do I Do?

Credit Score

A Foreclosure Is Killing My Credit, What Do I Do?

A Foreclosure Is Killing My Credit, What Do I Do?

Foreclosures can do a number on your credit report, even for years after they happened. With the Great Recession causing an upheaval in the housing market and many homeowners behind on payments, the aftermath of foreclosures is still a reality for many Americans today. One reader wrote into us, asking for help with a foreclosure… Read More

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