Foreclosures

WASHINGTON, DC - August 2, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the District of Columbia and provide support to homeowners and low-income renters forced from their homes due to severe storms last month.

Washington, DC - August 1, 2012 - (RealEstateRama) -- Congressman John Tierney today released the following statement in response to the decision by Federal Housing Finance Agency Acting Director Ed DeMarco to forbid Fannie Mae and Freddie Mac from red...

WASHINGTON, D.C. - August 1, 2012 - (RealEstateRama) -- The Lawyers' Committee for Civil Rights Under Law, as a leader of the Loan Modification Scam Prevention Network (the Network), applauds the Consumer Financial Protection Bureau (CFPB) for its enforcement action against the Gordon Law Firm, et al. Though the foreclosure crisis began over four years ago, millions of homeowners continue to struggle and remain vulnerable to foreclosure rescue fraud

WASHINGTON, D.C. - August 1, 2012 - (RealEstateRama) -- Restoring the US housing market is critical to our nation’s economic recovery. That is why we are disappointed with the Federal Housing Finance Agency’s (FHFA) announcement today that it will not permit targeted forgiveness of loan principal balances for struggling homeowners. This decision means that principal reductions are not an option for Fannie Mae and Freddie Mac loans even when reducing principal balances would return more money to those entities than any other type of modification. This is a lost opportunity to stabilize housing markets and property values by giving more homeowners a chance to restructure unaffordable loans and avoid foreclosure

DAYTON, OH - July 31, 2012 - (RealEstateRama) -- In advance of forum at Wright Patterson Air Force Base today, U.S. Sen. Sherrod Brown (D-OH) announced a new effort to ensure our nation’s servicemembers’ and their families’ rights are protected.

WASHINGTON, D.C. - July 26, 2012 - (RealEstateRama) -- Only 6,000 of the 140,000 eligible Ohioans have initiated a foreclosure review process which could put as much as $125,000 in their pockets. During a news conference call today, U.S. Sen. Sherrod B...

WASHINGTON, DC - July 25, 2012 - (RealEstateRama) -- An Alabama 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 southern Alabama, the Department of J...

Washington, DC - July 23, 2012 - (RealEstateRama) -- Click here for entire Capitol Connection Newsletter During Federal Reserve Chairman Ben Bernanke’s appearance before the House Financial Services Committee on Wednesday, Congressman Miller express...

WASHINGTON, D.C. - July 23, 2012 - (RealEstateRama) -- On February 9, 2012, the Justice Department announced that the federal government and 49 state attorneys general reached a $25 billion agreement with the five largest mortgage servicers in America, to address mortgage loan servicing and foreclosure abuses. While the majority of the settlement funds will go to various forms of relief provided directly to borrowers, $2.5 billion may be used by state governments to fund foreclosure prevention services including housing counselors, legal aid and other similar public programs as determined by the state attorneys general.

WASHINGTON, DC - July 23, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of New Jersey and provide support to homeowners and low-income rente...

Washington, D.C. - July 20, 2012 - (RealEstateRama) -- Congressman Jerry McNerney (D-Stockton) introduced the Fast Help For Homeowners (FHFH) Act, H.R. 6153, to help speed up the short sale process, a necessary step to addressing the housing crisis. ...

O’FALLON, IL - July 20, 2012 - (RealEstateRama) -- As part of his commitment to affordable housing and foreclosure prevention, Governor Pat Quinn today encouraged Illinois families facing foreclosure to attend the Illinois Foreclosure Prevention Netw...

LANSING - July 19, 2012 - (RealEstateRama) -- Attorney General Bill Schuette today praised Governor Rick Snyder and GOP legislative leaders for passing legislation that largely follows his recommendations to strengthen Michigan's economy and bring reli...

WASHINGTON, D.C. - July 18, 2012 - (RealEstateRama) -- The recent Government Accountability Office (GAO) report on the Independent Foreclosure Review (IFR) process reveals serious flaws that threaten to undermine the program’s success. The IFR is intended to compensate borrowers for mistakes their mortgage servicers made in the foreclosure process.

WASHINGTON, DC - July 18, 2012 - (RealEstateRama) -- Qualified entities interested in purchasing pools of severely distressed loans formerly insured by the Federal Housing Administration (FHA) can now submit applications for the Distressed Asset Stabilization Program, an expansion of an FHA disposition program that sells pools of defaulted mortgages headed for foreclosure and provides the opportunity for the purchaser and borrower to avoid a costly foreclosure. According to loan pool information released today, approximately 3,500 loans will be sold in four metropolitan areas that are among those hardest hit by the foreclosure crisis – Chicago, IL; Newark, NJ; Phoenix, AZ; and Tampa, FL – aligning with other neighborhood stabilization efforts to help those communities recover as quickly as possible. The program is part of the Obama Administration's broader strategy to encourage public/private partnerships to stabilize neighborhoods and home values in critical markets. Details on the Distressed Asset Stabilization Program can be found at www.hud.gov/fhaloansales.

Chicago, IL - July 17, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan announced that up to $3 million in funding from the national foreclosure settlement reached this year will be used to fund new mortgage foreclosure mediation programs in Il...

Jackson, MS - July 17, 2012 - (RealEstateRama) -- Attorney General Jim Hood today announced that his office has created the “Mississippi Foreclosure Prevention Consortium” to assist homeowners who are struggling as a result of the foreclosure crisi...

WASHINGTON, DC - July 16, 2012 - (RealEstateRama) -- On Saturday July 21st, Congressman Dennis Cardoza (D-Merced), the California Partnership for San Joaquin Valley, and the San Joaquin Valley Housing Collaborative will be hosting a free foreclosure an...

Washington, D.C. - July 16, 2012 - (RealEstateRama) -- Democratic Leader Nancy Pelosi released the following statement after California Governor Jerry Brown, joined by Attorney General Kamala Harris, signed the California Homeowner Bill of Rights into ...

PLANO, TX - July 16, 2012 - (RealEstateRama) -- Five individuals have been indicted have been indicted for their roles in a combination foreclosure rescue/drug distribution scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales ...