Why Grand Plans to Fix Fannie and Freddie’s Foreclosure Mess Could Misfire
Washington wants credit for helping the housing market. But could efforts to clean up the foreclosure mess at Fannie and Freddie make things worse?
August 31, 2011
July foreclosure starts hit highest level of 2011
More than 1,400 foreclosure proceedings were started in Massachusetts in July, the highest monthly number so far in 2011 and the highest number of monthly starts since September, the Warren Group reported this morning. Foreclosure petitions are an early step in the foreclosure process. There were 775 actual foreclosures in Massachusetts in July, down 38 percent from July 2010. Real estate
What’s worse for credit score — foreclosure, short sale or deed in lieu?
You can’t really say that credit scores don’t matter. They do. So it’s understandable that the hundreds of thousands of homeowners who finally realize they can no longer hold onto their homes worry about how turning in their keys to the house through various transactions with their lender will affect their credit scores. People can just let the home go to foreclosure, and this will affect their
The Average Loan In Foreclosure Has Been Delinquent For A Record 599 Days
The July Mortgage Monitor report released by Lender Processing Services, Inc. shows that foreclosure timelines continue their steady upward trend, as a payment has not been made on the average loan in foreclosure in a record 599 days . Of the nearly 1.9 million loans that are 90 or more days delinquent but not yet in foreclosure, 42 percent have not made a payment in more than a year with an
In 50-state foreclosure negotiations, dispute underlines basic questions
A recent and acrimonious dispute among state officials over a possible legal settlement to address nationwide mortgage abuses is underscoring basic questions about what the effort should accomplish. In settling claims against the largest banks related to “robo-signed” foreclosure documents and other flawed paperwork, should officials seek to rectify all the wrongs of the mortgage crisis? How big
