Foreclosure | Sun Valley Real Estate – Part 2

Category Archivefor: ‘Foreclosure’

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Scott Pelley explains a bizarre aftershock of the U.S. financial collapse: An epidemic of forged and missing mortgage documents Do you know who really owns your mortgage? As Scott Pelley reports on “60 Minutes” this week, that question has become a nightmare for many homeowners since the invention of mortgage-backed securities. Yes, those were the …

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State and federal officials are pushing to more tightly regulate the way banks and other mortgage servicers treat struggling homeowners in a bid to stem foreclosures. Current government modification programs are largely voluntary, and there are few rules governing servicers’ practices. But on Thursday, the nation’s largest banks, including Wells Fargo & Co., Bank of …

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Obama Proposal Seeks Multibillion-Dollar Settlement of Loan-Servicing Cases By NICK TIMIRAOS, DAN FITZPATRICK And RUTH SIMON The Obama administration is trying to push through a settlement over mortgage-servicing breakdowns that could force America’s largest banks to pay for reductions in loan principal worth billions of dollars. Terms of the administration’s proposal include a commitment from …

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The average U.S. borrower in the throes of foreclosure hasn’t made a mortgage payment in 17 months, up from nearly 11 months two years ago — and the time frame may get even longer. Banks and mortgage servicers, who collect payments for lenders, are taking more time to complete foreclosures because of huge volumes of …

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REUTERS: Mon Feb 14, 2011 7:11pm EST * MERS not agent of banks in foreclosures, court rules * Rulings against MERS could add to foreclosures * MERS says ruling misinterpreted law NEW YORK, Feb 14 (Reuters) – A company that tracks roughly half of all U.S. home loans has no right to transfer mortgages, a …

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