foreclosure crisis Latest News

Foreclosure Alternatives are available to homeowners in Salinas providing relief during the holiday season.

Larraine McNamara-McGraw focuses on helping homeowners fight foreclosure actions and keep homes

The VHDA announced that $2.5 million in funds will be allocated to the Old Dominion University Community Development Corporation (ODU CDC) for first-time low-income homebuyers through the Community Homeownership Revitalization program.

GoFightForeclosure.com reveals foreclosure paperwork is only part of the problem and what distressed homeowners should really know about bank foreclosure procedures.

The Federal Trade Commission has implemented a new ban against foreclosure prevention companies that are not helmed by licensed attorneys.

Cook County Sheriff, Tom Dart, an Illinois sheriff, took a unique position last month by refusing to evict homeowners based on, allegedly incomplete, foreclosure paperwork. As he stated Friday, he's being compelled to resume evictions.

Bankruptcy Firms around the country are reporting a phenomenon common to homeowners about to lose their homes: complete and utter denial about what is happening.

The foreclosure fraud crisis seems to be escalating with each passing day. It is being reported that all 50 U.S. states have launched a joint investigation into alleged fraud in the mortgage industry.

Well, apparently not all public officials are hesitating to take matters into their own hands. Thomas Dart, Cook County’s sheriff, has declared Chicago and its surrounding areas, “a foreclosure free zone.”

According to lawyers representing many of the nation's top lenders, the banks are highly unlikely to agree to forced loan modifications, even with the Feds and States suggesting penalties and special funds for evicted homeowners.

Federal Reserve Chairman, Ben Bernanke, working closely with the newly created Financial Fraud Enforcement Task Force will be issuing a critical report next month.

With some of the nation’s biggest mortgage servicing entities facing allegations that they blatantly ignored procedures while processing thousands of unsubstantiated foreclosure documents, criminal indictments could be just around the corner.

September was the highest month on record for foreclosures, EVER, per a new report by RealtyTrac.com. The crisis, in conjunction with recent reports of potential fraud by many mortgage servicers, has driven more consumers than ever into bankruptcy.

The mortgage servicing industry is about to be scrutinized as never before. Attorneys General from all 50 states, working in tandem with banking and mortgage regulators, have formed a new coalition: "The Mortgage Foreclosure Multistate Group."

GMAC Mortgage has indicated that, in spite of ongoing reviews of their foreclosure procedures involving homes in 23 states (where a judge's authorization is mandatory,) they "have found no evidence to date of any inappropriate foreclosures."

With unemployment becoming one of the leading triggers for mortgage default, the Dodd-Frank Reform Act will provide HUD with $1 billion, for implementation of the Emergency Homeowners Loan Program.

The foreclosures crisis, job loss and a crumbling economy are forcing people to find shelter of a different sort. Some people are living in their cars, RV's, and vans.

The foreclosure crisis has changed the quality of the lives of citizens in normally safe, mainstream neighborhoods. Following are 4 serious consequences neighborhoods face, and how foreclosure cleaning companies help to literally "clean up" the mess.

To serve as a forum for homeowners facing foreclosure, and for real estate industry professionals who are involved in foreclosures and short sales, the first-ever Orlando Foreclosures Expo will be held on February 7-8, 2009.

If people could afford a reasonable lawyer, most would not be in the foreclosure situation that is confronting millions of Americans at this time. People need to be informed that reasonable lawyers are available and not only for the wealthy.