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Bank of America Renews Foreclosures After Freeze

October 18th, 2010 · No Comments

Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week. It said it has a legal right to foreclose despite accusations that documents used in the process were flawed. Other major lenders have yet to say whether they will follow suit and resume foreclosures in [...]

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Tags: Foreclosure Information · Foreclosure Litigation · Foreclosure Statistics

Obama’s Team Encourages Treasury Mortgage

December 12th, 2008 · No Comments

President-elect Barack Obama’s economic team is expressing interest in a U.S. Treasury plan to spur homebuying through new securities aimed at driving down mortgage rates. Incoming White House economic chief Lawrence Summers is seeking details of the proposal from Columbia Business School Dean Glenn Hubbard, who put together the plan’s foundation with Columbia’s Christopher Mayer. [...]

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Tags: Government Bailout

Loan Servicers Get Proactive to Prevent Foreclosures

November 29th, 2008 · No Comments

Now, with the economy in full retreat and the jobless rate rising, borrowers and lenders in areas with previously marginal foreclosure rates are bracing for the worst. As a result, the banking industry has taken pre-emptive measures to help borrowers. The best example is an initiative, announced this month, to help those who took out [...]

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Tags: "mortgage modification" · Avoiding Foreclosure