Foreclosures
Foreclosures Down 35 Percent, But Auctions Climb
A prospective bidder examines the exterior of a home up for auction in New Jersey. The state has seen a 103 percent increase in the number of foreclosed homes up for auction. (AP) The number of foreclosures nationwide dropped last month to the lowest level since December 2006. But the problem is still severe in […]
Georgia Has Highest Percentage of Foreclosure Sales
A real estate sign is seen outside a California home. Nearly one- third of all residential sales there involve foreclosed homes. Only Georgia and Illinois were higher. (AP Photo/Jae C. Hong) Foreclosure sales accounted for 35 percent of all home sales in Georgia, the highest percentage in the nation. Other states with a high percentage […]
Foreclosure Probe Explained: What State AGs Want From Big Banks
When all 50 state attorneys general launched an investigation into the national foreclosure crisis a year ago, it was specifically aimed at “mortgage servicers” — the companies that process homeowners’ mortgage payments, modify loan terms and handle foreclosure paperwork on behalf of lenders. The states accused the servicers of using illegal practices to cheat homeowners […]
Maine Law Set Foreclosure Crisis in Motion
If you were looking for a state to be the epicenter of the current foreclosure fiasco, you might pick Nevada or Arizona, places where mortgage foreclosures have come in enormous waves. You certainly wouldn’t pick Maine, where the number has been comparatively small. But it was in Maine where Jeffrey Stephan was caught signing 400 […]
Summary of the Maryland State of the State Address
Maryland Gov. Martin O’Malley (D) used his 2010 state of the state address Feb. 2 to push for job-creating policies, measures to help people stay in their homes and a general fund budget that spends less than the state did just four years ago. In a speech that was both a recollection of difficult decisions […]
Tracking the Recession: States Boost Foreclosure Programs
Photo courtesy of the California governor’s office California Gov. Arnold Schwarzenegger (R) announcing a state program designed to help first-time homebuyers buy homes in neighborhoods hit hardest hit by the foreclosure crisis. California is one of several states establishing programs and enacting reforms to stave off foreclosures. div More than 600 attorneys have volunteered to […]
Ohio Tries to Fend Off Foreclosures on Home Loans
For Joel Ghitman, director of the Ohio Housing Finance Agency , the phones have barely stopped ringing in the past three weeks. The number of calls doubled to 200 a day after the state launched a first-in-the-nation program April 2 to help homeowners whose once-affordable mortgage payments are now busting family bank accounts. […]