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Follow our news on Twitter and Facebook. Updated for: Friday 5-18-2012
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Needy States Use Housing Aid Cash to Plug Budgets |
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Edward DeMarco, the temporary director of the Federal Housing Finance Agency, continues to endure blistering criticism for refusing to allow Fannie Mae and Freddie Mac to pay for large-scale principal reductions for underwater borrowers (those who owe more than their homes are worth) or to facilitate refinancings for those stuck with high interest rate mortgages. |
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The great foreclosure deception; big banks renege on Obama deal |
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Like the Allies before D-Day, who quite literally used smoke and mirrors and stage magicians to deceive the Germans as to the true site of the landings, America’s five biggest banks are engaged in a very serious game of deception. |
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3. |
Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages |
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Foreclosure filings in the U.S. fell to a five-year low last month as lenders sought to avoid seizing property and a housing recovery showed signs of taking hold. |
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4. |
Mortgage Principal Reductions Weighed for Fannie, Freddie |
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The conservator of Fannie Mae (FNMA) (FNMA) and Freddie Mac may let servicers forgive debt on a limited number of mortgages owned or guaranteed by the taxpayer-owned companies, according to a person with direct knowledge of the discussions. |
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5. |
Urge to stall on foreclosure is natural but perilous |
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The first thing most homeowners do upon hearing from their mortgage servicer that they are flirting with foreclosure is — nothing. |
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6. |
BofA initiates home loan modification offers |
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Homeowners with a Bank of America mortgage have good reason to check their mailbox. |
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7. |
Delinquent mortgage rate at 3-year low |
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The percentage of local homeowners behind on their mortgage payments dropped in the first three months of this year to the lowest level since 2009, according to credit reporting agency TransUnion. |
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8. |
Fla. Supreme Court considering foreclosure appeal |
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A homeowner's lawyer told the Florida Supreme Court on Thursday that the justices can strike a blow against rampant fraud by prohibiting lenders from simply voluntarily dismissing mortgage foreclosure cases to avoid penalties for filing bogus documents. |
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9. |
Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness |
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To forgive or not to forgive — that is the question. Everyone is waiting for Ed DeMarco — director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac in their government conservatorship — to rule one way or the other. |
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10. |
Mortgage delinquencies decline |
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The percentage of U.S. homeowners behind on their mortgage payments dropped in the first three months of this year to the lowest level since 2009, according to a new report. |
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