More than 800,000 properties received foreclosure filings in the first quarter of 2009, according to RealtyTrac's latest foreclosure report , released today. That was the highest quarterly total since RealtyTrac began issuing its numbers in the first quarter of 2005 despite a 13 percent decrease...
REO Business Thrives New York Times The celebration started early Saturday, with poolside music and drinks, as partygoers passed around business cards and compared notes on successful techniques for evicting residents who try to stay in bank-owned property, a process they call “cash for keys.”...
'Shadow' Supply Of Foreclosures May Delay Housing's Recovery Investors Business Daily Lenders are holding "between 600,000 and 700,000 residential properties that are not on the multiple listing service (MLS)," said Rick Sharga, senior vice president at RealtyTrac, a foreclosure...
25 People to Blame for the Financial Crisis TIME Magazine Who’s at fault? The good intentions, bad managers and greed behind the financial meltdown is exposed by TIME Magazine. View the list. HUD Secretary, Congress Debate Foreclosure Plans Washington Post Against a backdrop of record-low new home...
Bankruptcy Law May Be Modified Chicago Tribune Congress is poised to give bankruptcy judges more power to modify primary home mortgages in an attempt to halt the foreclosure crisis, a move Democrats and housing advocates have been pushing for two years in the face of stiff opposition from Republicans...
Lawyer Outwits Banks in Foreclosure Battle New York Post While the Obama administration battles to keep people from losing their homes, one Florida lawyer said she has a better answer to the toxic mortgage epidemic sweeping the country — fight back against the loan servicers and banks that are...
Battling to reverse the nation’s foreclosure fiasco, President Barack Obama today announced a $75 billion foreclosure prevention plan aimed at helping an estimated 9 million homeowners avoid foreclosure. “The plan I’m announcing focuses on rescuing families who have played by the rules...
Don't Let Judges Tear Up Mortgage Contracts Wall Street Journal February 13, 2009 The nation faces a foreclosure crisis of historic proportions, and there is an understandable desire on the part of the federal government to "do something" to help. House Judiciary Chairman John Conyers's...
After a somewhat unexpected spike in December, foreclosure activity dropped 10 percent in January -- although the January total of 274,399 was the fourth highest monthly total since January 2005 and still up 18 percent from January 2008, according to the latest RealtyTrac U.S. Foreclosure Market Report...
Loan Modification Can Stop the Foreclosure Crisis Wall Street Journal January 30, 2009 This week the House Judiciary Committee approved legislation aimed at helping Americans keep their homes through bankruptcy. I introduced the Helping Families Save Their Homes In Bankruptcy Act of 2009 to give courts...