How Flagstar Bank was able to lockout a homeowner in foreclosure After she lost her job more than a year ago, Deborah Stevens knew she would not be able to keep her Galloway home. She didn’t know she would be locked out of the home while she still had title or spend seven weeks...
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The foreclosure crisis and high unemployment fueled a surge in the number of people who filed for bankruptcy last year According to the National Bankruptcy Research Center, more than 205,000 Californians filed for personal bankruptcy protection last year. That’s an increase of nearly 59% from 2008. A large number of those filings are from...
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The Obama administration has announced broad new initiatives to help troubled homeowners Obama administration officials are ramping up their attempts to help struggling homeowners, announcing major changes to the government’s much-criticized $75-billion program to modify mortgages to stop foreclosures. Mortgage relief for unemployed borrowers The administration said it would require mortgage servicers participating in...
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The Florida Supreme Court’s has ordered that lenders and property owners in default attend mediation to ease the foreclosure crisis When the Task Force on Residential Mortgage Foreclosure Cases began studying the problem last summer, Florida ranked third, with an estimated 456,000 pending foreclosure cases statewide. By November, the state had the second-highest rate...
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Wells Fargo wins dismissal of foreclosure lawsuit brought by city of Baltimore Wells Fargo & Co., the largest U.S. home lender, won dismissal of a lawsuit by Baltimore claiming its lending practices discriminated against blacks and led to foreclosures that harmed the city. U.S. District Judge Frederick Motz in Baltimore, Maryland, said the city...
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Stockton California dubbed Foreclosureville has changed since housing bust began two years ago Stockton hardly looks like the most miserable city in the country. But the statistics and stories over the last two years make a case that it is: Since the housing crisis began, this inland port city 80 miles east of San...
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