Foreclosure News

Florida’s High-Speed Answer to a Foreclosure Mess

Florida has set up foreclosure-only courts to reduce a huge backlog, but borrowers’ lawyers are critical of the process.

As Pay Falls, Borrowers Lose Ground

One in eight homeowners had household debt exceeding half the monthly income in 2008, a recent report says.

Housing on the Brink

The glimmer of hope in this week’s housing data — a rise in pending home sales — is not likely to be sustainable.

Tenants Wooed in Latest Stuyvesant Town Battle

Two lending groups are battling in court for control of two huge Manhattan housing complexes, which fell into default in January.

Foreclosures Pose Potential Trouble on Election Day

Advocacy groups and election officials fear that the high rate of foreclosures will confuse many about their eligibility to vote.

Two New Federal Programs for Struggling Home Owners

The F.H.A. will begin a refinancing effort to help borrowers who are struggling and will start an emergency homeowners’ loan program for unemployed borrowers.

Number of Home Foreclosures Drops, but Risk of Delinquency Deepens

Foreclosures could head higher in coming months, as the percentage of borrowers at least one payment behind resumed its rise, new data suggest.

Making Home Affordable Program Falling Short of Goal

The pool of candidates is shrinking rapidly, and new trial modifications were down sharply in July.

Foreclosures Grind On

The Obama administration will need to do more in order to help Americans hold on to their homes.

Paralysis at the Federal Reserve

A decade ago, Ben Bernanke had some sharp criticism for how the Bank of Japan was handling a cool economy. Now he’s the Fed chairman, and that critique of Japan could be applied to the Fed today.

Government Plans More Aid for Jobless Homeowners

The aid, about $3 billion, comes against the backdrop of a weakening economy, high unemployment and a housing market destabilized by foreclosures.

The Other Mortgage Crisis

Flexible mortgages are needed to reflect the changing jobs landscape.

Say Goodbye to Fannie and Freddie

Two flawed agencies the housing market would be better off without.

Far From the Poor, Real Estate Woes Nip at Lake Forest

The foreclosure crisis is starting to lap at the shores of the upscale suburb of Lake Forest, though for different reasons than it first hit poor neighborhoods in Chicago.

Sale of Troubled Buildings May Not Mean Rescue

Housing advocates say that some investors rescuing city properties in disrepair will make conditions worse.

Owner of Legacy Lending Sentenced for Involvement in $20 Million Mortgage Scam

Image by Leonard John Matthews via Flickr Minnesota USDOJ (LoanSafe.org) - The 31-year-old part owner of Legacy Lending was sentenced [...]

Homeownership Preservation Workshop in Texas This Saturday

The City of Lewisville and DFW Home Ownership Preservation Enterprise along with many other sponsors are hosting a FREE foreclosure [...]

FREE Homeowners Counseling Clinic This Saturday in San Diego

Homeowners close to San Diego, Ca are invited to join a FREE foreclosure counseling workshop this Saturday in Imperial Beach. [...]

Ex-Florida Cop Arrested Again for Mortgage Fraud

(LoanSafe.org) – People need to realize that sometimes former and current law enforcement officers are humans with flaws, just like [...]

FHA Refinances for Underwater Mortgages Has Begun

(LoanSafe.org) – Ahoy underwater homeowners with an FHA mortgage! The captains of the U.S. government have thrown you a life [...]

FHLBank San Francisco Awards $1 Million to Az, Ca, and Nv for Affordable Housing

San Francisco – (LoanSafe.org) – The Federal Home Loan Bank of San Francisco announced that it awarded $1 million in [...]

FHA Short Refinance Program Now Underway

WASHINGTON – (LoanSafe.org) – In an effort to help responsible homeowners who owe more on their mortgage than the value [...]

An Additional $1 Billion to Stabilize Neighborhoods Hard-Hit by Foreclosure

WASHINGTON – (LoanSafe.org) – U.S. Housing and Urban Development Secretary Shaun Donovan today awarded an additional $1 billion in funding [...]

California Homebuyer’s Downpayment Assistance Program (CHDAP) Revisions

(LoanSafe.org) – CalHFA is pleased to announce changes to CHDAP, effective for loan reservations made on or after September 7, [...]

FDIC Selects Winning Bidder for Equity Interest of $762 Million From 20 Failed Banks

WASHINGTON D.C. (LoanSafe.org) – The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of a 40 percent equity [...]

Mortgage Rates: September 8, 2010

We report here on LoanSafe.org each day about what interest rates are currently being offered. Mortgage rates can be very [...]

NY Governor Paterson Announces $119 Million in Housing Aid

Image via Wikipedia SONYMA Mortgage Rates Reduced to Lowest Level in 40 Years – Affordable Rates Will Help Encourage Sustainable [...]

Avantgarde Group-Service Solutions: David Zepeda and John Zepeda Charged by San Diego DA With Fraud

CALIFORNIA (LoanSafe.org) – San Diego County District Attorney Bonnie M. Dumanis announced today that two brothers, David Zepeda, 57, and [...]

Get Free Mortgage Help in Las Vegas Saturday September 18th

Las Vegas, NV (LoanSafe.org) — A Home Rescue Fair will offer free help to Las Vegas residents facing foreclosure on [...]

NYC Government Officials Announce Plan to Rescue the South Bronx Housing Complex

New York, NY(LoanSafe.org) — Mayor Michael R. Bloomberg, Senator Charles E. Schumer, Congressman Jose E. Serrano, City Council Speaker Christine [...]

California Mortgage Firm CEO Indicted on Fraud Charges

SACRAMENTO, CA (LoanSafe.org) — United States Attorney Benjamin B. Wagner announced today that on September 2, 2010, a federal grand [...]

NCRC Urges Obama To Mandate Principal Mortgage Reductions By Lenders & Ignore Calls For A “Do Nothing” Approach

Image by Downing Street via Flickr Washington, DC (LoanSafe.org) — National Community Reinvestment Coalition (NCRC) president & CEO John Taylor [...]

Former Kentucky Police Officer Indicted on Mortgage Fraud Charges

(LoanSafe.org) – A former Kentucky police officer pleaded not guilty today to mortgage fraud charges in an alleged $2 million [...]

U.S. Consumers Face Growing Credit Gap

FICO Survey also Finds Stark Pessimism among Bank Risk Officers Responsible for Auto Loans and Credit Cards MINNEAPOLIS (LoanSafe.org) – [...]

Final “Fix Your Mortgage,” FREE Foreclosure-Prevention Event on Chicago’s West Side, Oct. 16

Image by respres via Flickr Free, professional assistance to help homeowners at risk of foreclosure modify their loans ILLINOIS  (LoanSafe.org) [...]

CalHFA Launches New 30-Year Mortgage

CalHFA Provides New, Low-Interest Opportunities for First-Time Homebuyers CALIFORNIA –(LoanSafe.org)–The California Housing Finance Agency announced today the launch of a [...]

How to obtain a mortgage

Buying a home and obtaining a mortgage is probably going to be the largest financial investment most people will make [...]

How To Write a Hardship Letter For a Mortgage Modification

One of the items your lender will ask for you to provide during the loan workout process is a hardship [...]

Current Mortgage Rates for September 7, 2010

Current mortgage rates are a very important factor to the recovery of the housing market. Low interest rates will help [...]

Churches Praying to Stop Their Own Evil Foreclosures

Image by Getty Images via @daylife (LoanSafe.org) – Churches at one time were great credit risks. In the good ole [...]

Phoenix Homeowners Will See Lower Property Tax Rates

Phoenix, AZ (LoanSafe.org) — Phoenix property owners will soon receive this year’s property tax assessments in the mail and the [...]

Nearly 50% Of All Listed Homes in August Had Price Cut, Up 3 Percent From July

Sellers discounted their asking prices by 7 percent in August, with a median reduction of more than $19,000 EMERYVILLE, CA [...]

I just wanted to tell you, your website has saved my life (literally)

(LoanSafe.org) – We receive comments and testimonials like the one below almost daily. I am certain that there are not [...]

Might as well save our money, not give it to anymore greedy lenders

Submitted by Homeowner Daniel - I give up, I spent ten years paying off a lot put a well, septic, [...]

New FHA Loan-to-Value and Credit Score Requirements

New FHA loan requirements go into effect October 4, 2010 WASHINGTON D.C. FHA (LoanSafe.org) – In accordance with the final [...]