Watchdog Proposes Rules to Protect Homeowners From Bad Foreclosures

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Watchdog Proposes Rules to Protect Homeowners From Bad Foreclosures

Watchdog Proposes Rules to Protect Homeowners From Bad Foreclosures

The Consumer Financial Protection Bureau Thursday proposed new rules that would offer U.S. homeowners additional protection from foreclosure. The proposals are part of the CFPB’s ongoing effort to protect struggling homeowners and make the mortgage process easier to understand. The expanded protections cover a variety of issues, from clarity about loan delinquency to additional help for… Read More

5 States Where Home Repossessions Are on the Rise

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5 States Where Home Repossessions Are on the Rise

5 States Where Home Repossessions Are on the Rise

Foreclosure activity in the U.S. increased from September to October, driven mostly by a jump in scheduled foreclosure auctions and homes repossessed by lenders. RealtyTrac’s monthly foreclosure report shows changes in foreclosure activity — default notices, bank repossessions and scheduled auctions of residential properties — across the country, on a state level and in the… Read More

The States Where Homeowners Are Still Struggling

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The States Where Homeowners Are Still Struggling

The States Where Homeowners Are Still Struggling

The realms of home loans and home ownership have undergone many challenges during the past several years. The foreclosure crisis wiped out hundreds of thousands of homeowners, credit dried up and many who remained in possession of their homes faced plummeting property values, sometimes struggling to keep up with mortgage payments along the way. Even as… Read More

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

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CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

At-risk homeowners trying save their homes from foreclosure during the mortgage meltdown complained for years that banks were systematically stonewalling them. On Monday, federal regulators accused a financial institution of doing just that, alleging that Michigan-based Flagstar Bank intentionally frustrated homeowners and pushed some into foreclosure. The Consumer Financial Protection Bureau said Flagstar “failed …at… Read More

Are Foreclosures Causing More Suicides?

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Are Foreclosures Causing More Suicides?

Are Foreclosures Causing More Suicides?

The suicide rate among middle-aged Americans increased significantly from 2005 to 2010, and a new study published in the American Journal of Public Health associates that spike with the recent foreclosure crisis. There has been a lot of research on the relationship between suicide rates and economic ups and downs, but the focus on foreclosure… Read More

Foreclosure Declines Continue

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Foreclosure Declines Continue

Foreclosure Declines Continue

There was a time when having more than 1 million U.S. homes in foreclosure was the norm. It wasn’t that long ago, actually — the foreclosure inventory only dropped below the million mark in June 2013 — but as of January 2014, just 794,000 homes were in some state of foreclosure. That’s a 33% decline… Read More

Short Sales Are Down as Home Prices Rise

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Short Sales Are Down as Home Prices Rise

Short Sales Are Down as Home Prices Rise

Home sales and prices continue to rise on an annual basis, and as those numbers have climbed, the number of short sales going through the market has dropped. Short sales, which are home sales in which the sale price is less than the total of the outstanding mortgages secured by the property, made up 5.3%… Read More

Foreclosures, Repossessions Continue to Drop

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Foreclosures, Repossessions Continue to Drop

Foreclosures, Repossessions Continue to Drop

Banks repossessed 29% fewer homes last month than in October 2012, the 11th consecutive month of annual declines, according to RealtyTrac’s monthly U.S. Foreclosure Market Report. The 37,775 properties with bank repossessions on file was a 1% decline from September. Foreclosures also sharply declined from 2012. Last month, one in every 978 U.S. housing units… Read More

Foreclosures Continue to Drop

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Foreclosures Continue to Drop

Foreclosures Continue to Drop

The housing market has been improving by leaps and bounds for more than a year, and this growth has resulted in a steady decline in the number of foreclosures nationwide. There were about 52,000 foreclosure actions completed nationwide in May, down approximately 27 percent from the 71,000 observed at the same time in 2012, according… Read More

New Legislation Key to Drop in Foreclosure Starts

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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

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