Mastro creditors unlikely to recoup more money in near future
Creditors of bankrupt former real-estate magnate Michael R. Mastro probably won’t get more than a penny on the dollar for several years, the court-appointed trustee in the case said in a report this week.
Oakland County: Foreclosure totals for April down more than 45 percent
Home foreclosures last month in Oakland County were down more than 45 percent from April last year, according to a press release issued by the county. Two hundred and ninety-six foreclosed homes were auctioned at Oakland County Sheriff’s Office deed sales last month compared to 541 for April 2011.
Today's home buyers are younger, and more tech savvy. Foreclosures continue their decline in the state, region
Who are today's home buyers and how are they finding their agents? Dave Cullinane and Karen Beeson, mortgage loan officers with EverBank in Campbell, discuss the type of clientele they are serving these days.
More Foreclosures Drag On Home Prices
Morning Business Memo Home prices have been bogged down by a series of problems, from restrictive lending policies by banks to the weak housing market. But foreclosures are the biggest drag in many parts of the country. The real estate marketing firm RealtyTrac says number…
More Foreclosures Yet to Come?
Late last summer, I wrote a Smarter Investor post under a similar title to this one. The thesis and conclusion of that post was simple: Credit delinquencies were dropping, and availability of credit was rising–both good signs for a continuing recovery in the housing market and in the broader U.S. economy. Now, more than six [...]
More Homes Entered Foreclosure Process In March, Setting Stage For Jump In Repossessed Properties – Huffington Post
LOS ANGELES — More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year. The number of homes that received first-time foreclosure notices rose 7 percent in March from the …
More home foreclosures on horizon in Minnesota
The number of homeowners who are in danger of losing their houses has increased by 11 percent, RealtyTrac said.
As Weather Gets More Destructive, Insurers Grow Wary – CNBC
Then many are hit with the unexpected loss of homeowners insurance policies as insurance companies re-evaluate their financial liabilities. After a tornado ripped through Springfield, Massachusetts, last year, R. Paula Lazzari’s home was badly damaged.
As Foreclosure Problems Persist, Fed Seeks More Fines – New York Times
Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate or forged documents. Last week, a senior Federal Reserve …
Borrowers take more loans to pay loans – Independent Online
After losing her husband and then her business, the 39-year-old mother of one is overwhelmed by a mortgage, car finance, six unsecured loans and debt on her four credit cards. That totals R120 000, equal to about 11 months of the salary she earned before …