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OJ Simpson loses Miami home to foreclosure
JP Morgan Chase began the foreclosure process on OJ’s home alleging he owes them over $725,000 in late fees, penalties and built-up overdue principle.
Foreclosure rates drop to pre-recession levels in 2011
A report released Thursday by RealtyTrac showed that foreclosure rates in 2011 dropped to their lowest level since 2007 when the Great Recession began. In 2011 foreclosures dropped 34 percent below 2007 levels.
Justice Department weighs in on foreclosure crisis
The troubled housing market is holding back economic recovery and the federal government has called been called on to offer solutions. The Justice Department has weighed in on the issue.
Florida Attorney General sues two firms accused of foreclosure fraud
The state of Florida has been hit hard with foreclosure and desperate homeowners are vulnerable to scams. Florida’s Attorney General Pam Bondi sued two companies for preying on people and defrauding who are facing foreclosure. MGD Management and ...
Federal Reserve Says that Foreclosure not a Solution to the Housing Crisis
The federal government has been trying to come up with solutions to the housing crisis and curtail the overwhelming number of foreclosures. Federal Reserve Chairman Ben Bernanke released a report to the leaders of the House of Representatives’ Co ...
Foreclosures Jump 21 Percent in Third Quarter
Even though banks gave troubled homeowners a short reprieve for the holidays, foreclosure rates jumped 21 percent in the third quarter as they revamped their processing practices. In the last months of 2010, major banks came under scrutiny for th ...
Bank of America settles Countrywide discrimination lawsuit
Bank of America has agreed to pay $335 million to settle allegations that its Countrywide unit practiced discriminatory lending practices. The U.S. Department of Justice alleges that Countrywide charged African-American and Hispanic borrowers hig ...
Nevada Sues Major Foreclosure Processing Firm
The state if Nevada has been hit hard by the foreclosure crisis and has consistently made it in the top three states with the highest foreclosure rates. The state of Nevada is now suing a foreclosure firm, Lender Processing Services, for mishandl ...
The Housing Sector will soon be hit by a new wave of foreclosures
Numerous homeowners were given a holiday reprieve from repossession of their homes, but a new wave of foreclosures is anticipated to hit the housing sector within months. RealtyTrac, a firm that tracks foreclosure sales, has stated that close to ...
Foreclosures May be Slowing Down but People Are Still Vulnerable To Fraud
The number of foreclosures is slowing down a bit, but homeowners are still vulnerable to scams artists aimed at taking their money.
Treasury Targets Two Banks for Poor Foreclosure Performance
The Treasury Department criticized JP Morgan Chase and Bank of America over their participation in the HAMP foreclosure relief program and need to do more to help troubled homeowners. Their poor participation in the HAMP program has forced the Tr ...
New York Foreclosure Law Firm to Close After Losing Fannie Mae and Freddie Mac
The current foreclosure crisis has hit the American people very hard and they are constantly appealing to federal officials for help. They may not get all the help they need, but sometimes federal officials hear the outcries of the public and rea ...
Wealthy Neighborhoods not Immune to Foreclosure Crisis
Millions of Americans are facing foreclosure and low-income and middle class individuals or families aren’t the only ones facing this crisis, homes in pricey zip codes are also troubled, and well-off homeowners must walk away from their mortgages ...
Las Vegas Foreclosed Homes Have Unintended Criminal Uses
All across the country the large number of seized homes that couldn't be saved by foreclosure attorneys sit empty. These empty homes not only devalue neighboring homes, but they also present an opportunity for vandalism and other crimes.