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Over 50 refinancing and mortgage modification companies are currently under investigation as part of Arizona Attorney General Terry Goddard office’s crackdown on fraudulent repo home listing rescue services that have been victimizing unsuspecting homeowners who are desperate to save their homes from foreclosures.
Continue Reading: Crackdown on Fraudulent Repo Home Listing Rescue Intensifies
Positive reactions on the foreclosure prevention initiative from mortgage professionals, local realtors and builders were noted a day after US President Barack Obama unveiled his program.
Continue Reading: Support for Obama’s Foreclosure Plan Comes from Various Sectors
President Barack Obama is expected to release details of his $50 billion foreclosure prevention program, a day after he signed the $787 billion economic recovery bill.
The plan is expected to include measures to reduce the number of foreclosed homes and to create national standards for home loan modification.
Continue Reading: Investors Await Details of Obama’s Foreclosure Prevention Plan
Under President Obama’s foreclosure plan, first-time homebuyers will be given up to $8,000 in tax credit, which they can claim in their returns for 2008 or 2009. The exact amount is the lesser value between $8,000 and 10 percent of the value of their home.
Continue Reading: First-Time Homebuyers Gain from Foreclosure Plan
In an effort to help prevent more foreclosures, the Federal Housing Finance Agency (FHFA), the overseer of the government-controlled Freddie Mac and Fannie Mae recently announced that a new Home Valuation Code of Conduct will take affect this coming May. The new plan was created to ensure the correctness of home appraisals of mortgages from both companies and to curb mortgage fraud. According to policy makers, overvalued homes have been one of the leading causes of foreclosures.
Continue Reading: FHFA Announces New Plan to Combat Foreclosures due to Inflated Appraisals
Efforts by FDIC Chairman Sheila C. Bair to persuade President George Bush’s administration to help homeowners in danger of foreclosure are finally getting results. Bair’s loan modification plan is said to be nearing approval at the White House of Management and Budget.
Continue Reading: FDIC’s Bair Readies Foreclosure Rescue Plan
Foreclosure rate in the US is continually rising to this date. More than 250 families are evicted from their homes every month. Although there is available assistance from different sectors of the society, most families fail to take advantage of them.
Continue Reading: Take Immediate Action and Save Your Property from Foreclosure
To combat and somehow slow down the growing problem in the mortgage industry, a new foreclosure rescue plan was launched in Washington.
Continue Reading: “Help Now”: Latest Foreclosure Rescue Plan
Last week, the chairman of the Senate Banking Committee Chris Dodd sent a letter to President Bush, urging him to concentrate on looking for solutions to the enduring foreclosure crisis. The letter also contained criticism about the way the Bush administration handled the problems in the housing industry.
Continue Reading: Dodd Urges Bush Administration to Focus on Foreclosure Efforts
In the last couple of years, the entire nation has been suffering from the effects of the enduring foreclosure crisis. With the housing market brimming with literally millions of homes in some stage of foreclosure, it is not surprising that there is also a growing number of foreclosure-related scams being reported nationwide.
Continue Reading: Foreclosure Scams Distressed Homeowners Must Avoid
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