The Short Sale Alternative When newlyweds Justin and Rebecca Rakitin starting shopping for their first home in the Fort Lauderdale, Fla., area last year they assumed the process would be quick and easy, with a $8,000 first-time buyer tax credit at their disposal and ‘For Sale’ signs littering every block. In fact, most of the …
Category Archives: Legal
After Foreclosure Problems, Homeowners’ Eyes Move to Title Insurance
After Foreclosure, a Focus on Title Insurance When home buyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance. This moment is often profoundly irritating, mysterious and rushed — just like so much of the home-buying process. Lenders require …
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Robo-signing controversy could derail nation’s entire foreclosure process
What began as scattered accusations of shoddy paperwork and fudged documents is mushrooming into a full-blown crisis threatening to derail the foreclosure process across the country. Bank of America on Friday became the first big bank to temporarily halt foreclosures in all 50 states while it reviews hundreds of thousands of cases for potential paperwork …
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Wells Fargo to aid Pick-a-Pay mortgage borrowers
Wells Fargo to aid Pick-a-Pay mortgage borrowers Wells Fargo agreed to provide about $67 million in mortgage relief to up to 700 New Jersey homeowners who have so-called Pick-a-Pay adjustable-rate mortgages, New Jersey Attorney General Paula T. Dow said today. The loans, also known as Pick-a-Payment mortgages, allowed the borrower to choose monthly mortgage payments …
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Mortgage Terminator: Condo associations sue banks, claim intentional foreclosure delays – South Florida Sun-Sentinel.com
Mortgage Terminator: Condo associations sue banks, claim intentional foreclosure delays After winning a lawsuit against Wells Fargo that claimed the bank purposely delayed foreclosure proceedings on a condominium unit for more than a year, a Pompano Beach condo association has been awarded title to the unit without owing a dime on the original $184,400 mortgage. …
Wiregrass Ranch owners look to future [Tampa Bay Florida]
Wiregrass Ranch owners look to future [Tampa Bay Florida] During the housing boom, the Porter family made big plans for Wiregrass Ranch: thousands of homes; acres upon acres of shopping and office space; a hospital; a college and even a golf course. The housing collapse cost the Porters their development deal with Pulte Home Corp., …
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