Tuesday, November 30, 2010

Afternoon Edition: Average loan in foreclosure hits 492 days, What the banks don't want you to know about how foreclosure's are REALLY being handled.

Afternoon Edition: Average loan in foreclosure hits 492 days, What the banks don't want you to know about how foreclosure's are really being handled. Because our Government has made this Mortgage crisis so easy for the Lending Institutions is this actually causing the delay in our economy's come back?
This news letter is an excellent source for those interested in Real Estate an Pension Fund news!

Subject: Afternoon Edition: Average loan in foreclosure hits 492 days

HousingWire Morning Edition
November 29th, 2010
Afternoon Edition Banner
Paul Jackson
Paul Jackson
The average age of a loan in foreclosure hit 492 days in October, and appears as if it will only loom ever-longer in the months ahead. But it’s how we got here that is the real untold story: One that is as much about an overwhelmed loan servicing function as...

Latest News
After a yearlong fight with her mortgage company's call center, Clare Sheaffer feels like a poster child for the country's foreclosure crisis. The former St. Cloud City Council member's center saga began last year when she was laid off from her job as program manager for a...

Fraud risk control is commonly recognized as an effective way to avoid loan buybacks. Avivah Litan, vice president and analyst at Gartner research firm, says lenders who want to remain competitive in fraud management are also aware that they “cannot continue doing business as usual.” Instead of obsolete...

In New York City real estate, there are few titles more thankless than guarantor. People who do not make enough to afford their paycheck-devouring rents must find a well-paid relative, a benevolent family friend or perhaps a kidnapped and hypnotized multimillionaire to supply personal...

JPMorgan Chase & Co. and Bank of America Corp. are among U.S. banks that may face $54 billion to $106 billion in costs as more investors demand that issuers of mortgage-backed securities repurchase faulty loans, according to Paul Miller of FBR Capital Markets. Miller estimated in September...
It’s not every day someone forgives a million-dollar mortgage. But that’s apparently the latest twist on the sale of the old Bedford Street police station that’s confounded officials for more than three years. A “satisfaction of mortgage” was signed by Pete Benevides of the Florida company Infinity Mortgage...

The foreclosure crisis still divides us into two camps. There are those who believe that foreclosing rapidly on homes subject to defaulted mortgages is vital to clearing the market. Others believe we should do everything we can to keep people in their homes, urging loan modifications...

In April, the Obama administration formally rolled out a new program, called Home Affordable Foreclosure Alternatives, that was designed to spur more short sales, where banks allow homeowners to sell their homes for less than the mortgage debt outstanding. Like other foreclosure-prevention initiatives, this one appears to be...

When Caitlyn Corso’s salary as a veterinary technician was cut last year, she couldn’t keep up with her mortgage payment. She fell into a pattern of making her $1,200 payment 30 days late. She asked for a loan modification from her mortgage servicer, Chase Home...

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