Foreclosures

Foreclosures

Georgia Real Estate Investor Admits to Bid Rigging and Mail Fraud Conspiracies at Home...

A Georgia real estate investor pleaded guilty today for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia. Trent Gaines admitted that he and others conspired not to bid against one another at public real estate foreclosure auctions from October 2008 to November 2010 in Fulton County, Georgia, and from September 2006 to February 2011 in DeKalb County, Georgia.

Real Estate Investor Pleads Guilty to Bid Rigging and Fraud Conspiracies at Georgia Public...

A Georgia real estate investor pleaded guilty today for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Fulton and DeKalb counties, Georgia. Morris Podber admitted that he conspired with others not to bid against one another at public real estate foreclosure auctions on selected properties.

Real Estate Investor Pleads Guilty to Bid Rigging and Fraud Conspiracies at Georgia Public...

A Georgia real estate investor pleaded guilty today for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Fulton and DeKalb counties, Georgia.

Service Members’ Compensation for Unlawful Foreclosures Under the Servicemembers Civil Relief Act Rises to...

The Justice Department announced today that an additional 1,461 service members and their co-borrowers are eligible to receive over $186 million for home foreclosures under the department’s settlements with five of the nation’s largest mortgage servicers.  Those settlements implement the protections of the Servicemembers Civil Relief Act (SCRA).  Together with other foreclosure-related compensation announced by the department in February, a total of 2,413 service members and their co-borrowers are eligible to receive over $311 million. 

Reliable communication with servicers is improving, but remains major challenge for counselors helping homeowners...

Housing counselors across the country working with homeowners to find an alternative to foreclosure for thousands of homeowners cite improving communications with servicers, but note that more needs to be done, according to the latest report on the National Foreclosure Mitigation Counseling program (NFMC). NFMC is a congressionally funded effort that has helped more than 1.9 million homeowners understand their foreclosure prevention options

Organizations Unite to Support Renewable Energy Development on Islands

Two US-based organizations joined the International Renewable Energy Agency’s (IRENA) Lighthouses initiative today to help island nations accelerate the deployment of renewable energy and transition away from fossil fuels. The Clinton Climate Initiative (CCI), an initiative of the Clinton Foundation, and the Rocky Mountain Institute-Carbon War Room (RMI-CWR), through their island partnership, will jointly work to achieve Small Island Developing States (SIDS) Lighthouses Initiative objectives and explore opportunities for coordinated assistance to SIDS with other partners of the initiative.

Auto Loans Race Ahead, Foreclosures Plunge, and Overall Household Debt Remains Flat

Household debt balances were largely flat in the second quarter of this year, according to the Federal Reserve Bank of New York’s Household Debt and Credit Report. Total indebtedness increased just $2 billion from Q1 2015. Foreclosures hit their lowest point in the 16-year history of the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data.

Mortgage Delinquencies and Foreclosures Continue to Drop in Second Quarter

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 5.30 percent of all loans outstanding at the end of the second quarter of 2015. This was the lowest level since the second quarter of 2007. The delinquency rate decreased 24 basis points from the previous quarter, and 74 basis points from one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.

Conspirator Pleads Guilty to $3.8 Million Mortgage Fraud Scheme

Alberic Okou Agodio, age 30, of Bethesda, Maryland, pleaded guilty today to conspiracy, wire fraud, and aggravated identity theft, arising from a mortgage fraud scheme in which he used the names of immigrants and students, along with false financial information, to obtain approximately $3.8 million in home mortgage loans to buy approximately three dozen row houses in Baltimore, all of which are in default or foreclosure

Counseling for homeowners boosted with state grant

About 1,000 Washington State homeowners facing foreclosure will receive financial counseling to help resolve their mortgage issues, thanks to a grant awarded this week by Attorney General Bob Ferguson to the Washington State Housing Finance Commission.

OCC to Escheat Funds from the Foreclosure Review, Terminates Orders Against Three Mortgage Servicers,...

The Office of the Comptroller of the Currency (OCC) today announced it will escheat at the end of 2015 any remaining uncashed payments made pursuant to the Independent Foreclosure Review (IFR) Payment Agreement so eligible borrowers and their heirs may claim the funds through their states’ escheatment processes

Advocates Applaud HUD on New Reverse Mortgage Policy that Could Reduce Foreclosures on Surviving...

Last Friday, the U.S. Department of Housing and Urban Development released an updated policy that gives reverse mortgage servicers the ability to allow a surviving spouse to stay in their home if the mortgage was originated prior to August 4, 2014.

HUD LAUNCHES NEW WEBSITE FOR HOUSING COUNSELING AGENCIES

The U.S. Department of Housing and Urban Development (HUD) today unveiled a new website specifically designed for HUD-approved housing counseling agencies, offering free on-line training covering a broad range of topics including responsibilities of homeownership and tenancy; avoiding foreclosure and eviction; financial management; and fair housing. The training is designed to help prepare housing counselors for the upcoming, mandatory HUD-certified counselor examination.

Protecting Your Most Valuable Asset: Your Home

Your house is among the most important investments in your life. It’s where your children will be raised, where you will grow old, and where your grandchildren will play. You researched schools and neighborhoods to choose the house you will eventually call home. It’s most likely the largest financial commitment (investment) you’ve ever made, but when misfortune strikes your home is more vulnerable than any other asset

Habitat for Humanity applauds Senator Richard Shelby’s inclusion of donated appraisals in proposed updates...

Among the Dodd-Frank regulatory requirements that the U.S. Senate Banking Committee plans to address through legislation unveiled earlier this week is a small clarification that will provide significant savings for the more than 1,400 Habitat for Humanity affiliates operating locally across the United States.

Business Real Estate Press Releases

Wals Homewood IL

The Boulder Group Arranges Sale of Single Tenant Net Leased Walgreens...

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 820 183rd Street in Homewood, Illinois for $2,925,000. The 13,905 square foot Walgreens is positioned just off of the signalized intersection of 183rd Street and Halsted Street which experiences a combined traffic count of 52,300 vehicles per day.

Recent Gov & Nonprofit Real Estate Press Releases

Wals Homewood IL

The Boulder Group Arranges Sale of Single Tenant Net Leased Walgreens...

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 820 183rd Street in Homewood, Illinois for $2,925,000. The 13,905 square foot Walgreens is positioned just off of the signalized intersection of 183rd Street and Halsted Street which experiences a combined traffic count of 52,300 vehicles per day.