NATIONAL Administration reforms HAMP After seeing that HAMP failed to reach the targeted homeowners, the Obama administration announced the extension of the program to bring relief to a larger share of struggling homeowners as well as renters. Principal reduction is one of the key adjustments the modification centers around. HAMP currently includes an option for [...]
NATIONAL The need for a defined foreclosure timeline Both Freddie Mac and Fannie Mae representatives upheld the companies’ practice of collecting penalties from servicers who fail to meet defined timelines for processing foreclosures. It is clear now, that both Fannie and Freddie representatives aim to keep borrowers in their home, because it is the better [...]
US banks push to win broad liability releases as part of the mortgage settlement. This has become the most litigious issue in talks to solve a nationwide investigation of foreclosure practices and mortgage servicing. Bank of America, JPMorgan Chase and Citigroup push for obtaining protection from additional state and federal claims as part of the [...]
The allegations rose in September, regarding flawed foreclosure process and fraudulent paperwork, created a flutter in the U.S. real estate markets. It was unbelievable how mortgage servicers including the so-called stalwarts in the field like Bank of America, J.P Morgan Chase etc. paid scant respect, in dealing a most-sensitive issue like foreclosure process, which will [...]
The country is facing difficult times in the real estate market, as all of us are aware. Foreclosure activity is the root-cause of plunging home sales, sluggish market conditions, increased inventory of homes – both “real” and “shadow” – available for sale and waiting for buyers. Realtytrac is tracking foreclosure activity overall in the country [...]
The ongoing foreclosure crisis across the country, whereby millions of unwary home owners forfeited their hard-earned equities to the foreclosure process, received another blow, when it was revealed sometime in September that lenders were not bestowing proper attention, in signing foreclosure papers. Hundreds of thousands of foreclosure documents were alleged to be signed by a [...]
Owning a home – this is common American dream. But the foreclosure crisis has woken up millions of Americans from their dreams midway. Presently it is reported the nation’s homeownership rate remains at its lowest level in more than a decade, for the reason of rising foreclosures on the one hand; and lack of consumer [...]
Media reports on the above question have an answer – home sales are rising slightly and housing recovery is taking place. The latest survey by the National Association of Realtors shows existing home sales rose once again in September, which is a positive sign that the market is moving in the right direction. According to [...]
Despite the earnest efforts of the federal government, in announcing various foreclosure mitigation plans one after the other, there is no let up in the foreclosure activity so far. On the contrary, latest statistics show that the foreclosure activity is actually in the ascending order, across major metropolitan cities of the country. States where the [...]
The country is still reeling under the clutches of the foreclosure crisis, caught up 4 years back. The housing markets are beleaguered by the impact, bringing in dramatic changes in the real estate business – sluggish home sales; dropped down home values; tightened up housing loans; and ultimately a downward economy. During the third quarter [...]
Eureka was incredibly patient and assured me that we would close on our contracted close date. Although, we had a few sticking points come up with the short sale, they were right, we closed @ 10am on our contracted close date!! My fellow realtors couldn’t believe that we closed on time…their experiences with short sales have been “nightmares”. Thank you Eureka!
Jonna Juul-Hansen
Pacesetter Properties
