Nevada has been one of the hardest hit housing markets in the country. With so many homeowners losing their homes to foreclosures, and many more fighting off the possibility, local agencies have decided to take action. Foreclosure Education As a way to help educate consumers and help fight the high rate of home foreclosures in  … Read more

Equator, the country’s foremost provider of default servicing technology, reported this week that its third quarter report included over one million short sales initiated through their software platform, since November 2009. The software company also announced that its Loan Segmentation Module has managed over 500,000 loans since its launch earlier this year. A representative of  … Read more

According to a poll recently conducted by the Washington Post, the majority of Americans now feel high levels of concern about their ability to meet their mortgage obligations or rent payments. Concerns have skyrocketed since 2008, despite a certain level of overall economic improvement and effort on the part of the federal government to offer  … Read more

Reports from the Treasury Department suggest that in 2011 the homeowner Unemployment Program—a part of the federal Making Home Affordable initiative—showed significant improvement. Namely, the report showed that between June and July of 2011, there were marked increases in the number of forbearance agreements offered to homeowners. This year has also seen a lot of  … Read more

In the past year, studies show that the rate of homeownership has fallen at the largest percentage since the Great Depression, even though overall homeownership numbers remain relatively high. According to the Census Bureau, homeownership rates are at their lowest levels since 1998. The current rate is down 67.1 percent since 2010, coinciding with a  … Read more

Recent studies show that Canadian homebuyers are becoming increasingly interested in the United States’ property market. In particular, Canadians have begun flocking to cities such as Phoenix, and other warm locations, to look for deals. Lured by the markedly-weak U.S. dollar, as well as exceptionally-low interest rates and property prices, Canadians have begun looking to  … Read more

Last quarter, the United States suffered an unparalleled surge in mortgage delinquencies as foreclosures continued to increase and banks offered fewer and fewer mortgage loan modification opportunities. According to the Office of the Comptroller of the Currency, the number of struggling borrowers, behind on their payments, rose nearly 17 percent quarter-to-quarter. What is Causing this  … Read more

According to a report recently released by the inspector general for the Federal Housing Finance Agency (FHFA), Fannie Mae ignored indications that its attorneys abused the foreclosure process. The inspector general has actually determined that as early as 2003, legal firms hired by Fannie Mae were engaged in illicit activities. Such activities included, but were  … Read more

The Emergency Homeowners’ Program—a $1 billion federal program designed to assist the unemployed—is due to expire on Friday, having assisted only a fraction of those who applied. In fact, of the 100,000 applicants, only 10,000 to 15,000 are expected to receive aid. The program aimed to offer interest-free, forgivable loans to those homeowners who lost  … Read more

This week, the California Attorney General, Kamala D. Harris, withdrew from settlement negotiations with major banks over alleged foreclosure abuses. Harris removed herself, claiming that the deal was unfair to injured California homeowners. This move significantly damages efforts by the Obama Administration to seal a $25 billion settlement with a number of major U.S. banks  … Read more