News about properties and real estate
Federal program will help struggling homeowners Struggling California homeowners will have another source of assistance later this year from a federal program giving the state $700 million to devise its own foreclosure-prevention solutions. While that sounds like a windfall, it’s minuscule compared with the hundreds of thousands of California households in default. That’s why the …
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Florida judge tosses GMAC foreclosure GMAC Mortgage got slammed by a Florida judge this month — and that may be good news for some of the 1,234 New York homeowners hit with a foreclosure action by GMAC since the beginning of 2008. In that case, Judge Anthony Rondolino voided a GMAC foreclosure win after he …
U.S. Probes Foreclosure-Data Provider A subsidiary of a company that is a top provider of the documentation used by banks in the foreclosure process is under investigation by federal prosecutors. The prosecutors are “reviewing the business processes” of the subsidiary of Lender Processing Services Inc., based in Jacksonville, Fla., according to the company’s annual securities …
Around Tampa Bay, foreclosure means never having to leave [Central Florida] When his lender started to foreclose in 2003, Jeffrey DeMauro appealed for time to resolve his financial problems. “I sincerely want to work this situation out and get back on track and save my home,” DeMauro wrote to Pinellas County court officials. “I have …
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Mortgage, tax bills ultimately come back to haunt walkaways While foreclosures and loan modifications have made it tough for overwhelmed banks to go after walkaway borrowers, there’s evidence they are starting to crack down. Lenders are hiring collection agencies. They also are getting deficiency judgments — court orders that allow banks to collect on mortgage …
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Weak insurers put Floridians at risk Millions of Floridians now bet their homes on property insurers that teeter on the edge of financial failure, a Herald-Tribune investigation has found. These companies look nothing like the Allstates and State Farms that insure the rest of America — legacy carriers that command bankrolls the size of small …