CollectionsForeclosure
IN THE NEWS

Foreclosure

FEATURED ARTICLES
NEWS
October 22, 2014
LISA SHEPARD followed the rules. She got a good education. She became a registered nurse and then got a law degree. Her schooling led to a good job in health-care management. She bought a home she could afford in Jessup, Md. She lived within her means. Then the recession hit. We spiraled into a housing crisis that sank the financially irresponsible and those preyed upon by predatory lenders. But it also dragged down people like Shepard, who lost her job in 2011. "I went from six figures to no figures," says Shepard, 52, who is the caregiver for her 10-year-old daughter as well as her ailing 72-year-old father.
BUSINESS
December 26, 2012 | By Jeff Gelles, Inquirer Staff Writer
After two previous deadline extensions, this time they really mean it. If you were targeted for foreclosure during 2009 or 2010 by one of 27 banks or mortgage servicers whose practices raised concern among federal regulators, you have only until Monday - Dec. 31 - to request a free, independent review of what happened. The review could lead to compensation, from as little as $500 for improper fees to as much as $125,000 plus lost equity for the most egregious mistakes or improprieties, said Bryan Hubbard, a spokesman for the Office of the Comptroller of the Currency, one of two federal banking agencies that ordered the reviews.
NEWS
November 2, 2012 | SAN JOSE MERCURY NEWS
LIVERMORE, CALIF. - R.C. and Stacy Davis lost their condominium to foreclosure in 2009, a bad break that seemed destined to keep them from buying another home for many years. Yet last week - only three years after their foreclosure - the couple signed the papers to buy a four-bedroom house. Their avenue to homeownership? A loan backed by the Federal Housing Administration. The ability to get an FHA loan so quickly after a foreclosure could be welcome news to thousands of people who lost their homes during the housing bust.
NEWS
March 3, 2012 | By Kevin Smith, INQUIRER STAFF WRITER
Federal, state and local officials in Willingboro, N.J. are offering help today to residents who may be facing foreclosure of their homes during a symposium at John F. Kennedy High School's Kennedy Center. Officials are on site to help residents understand the process of foreclosure and how best to avoid it. Banks from whom residents received their mortages are also in attendance, and one-on-one counseling is available for those who have questions about their current mortgage.
REAL_ESTATE
March 23, 2014 | By Gina Tomaine, For The Inquirer
A foreclosure, or a short sale to dig out from under a mortgage whose payments have become overwhelming, might seem like an insurmountable obstacle to owning a house again in the future. Not for so-called boomerang buyers, a new breed of would-be homeowners who are determined to rebound, slowly and painstakingly, from the most strenuous housing hardships. Marcanthony and Pamela Morrison, who now live in Philadelphia, lost their home in Monroe, Ga., to foreclosure because of an unsustainable loan deal.
NEWS
December 7, 2012
WASHINGTON - Housing and Urban Development Secretary Shaun Donovan said Thursday that he could not guarantee that efforts to shore up the Federal Housing Administration won't save it from needing a taxpayer bailout next year. Sharp revisions to the FHA's standards for insuring mortgages - often for first-time, lower-income homebuyers - could dampen the recovery and lead to more foreclosures that further reduce the size of the fund that the agency uses to cover its losses. The FHA insures mortgages with as little as 3.5 percent as a down payment and has backed loans for people who went through foreclosures as recently as three years earlier.
BUSINESS
August 5, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Begun as the government's response to the foreclosure crisis, the Treasury Department's Home Affordable Modification Program wasn't supposed to last forever. The Dec. 31 end of the foreclosure relief program, which offered a more affordable payment by adjusting interest rates, extending the loan term, and reducing or forbearing principal, will leave a gap that the government is trying to fill. The Consumer Financial Protection Bureau, created under the Dodd-Frank Act of 2010, is proposing consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policy makers as they develop foreclosure-relief solutions to replace what is better known by its acronym, HAMP.
BUSINESS
June 14, 2013 | By Alan J. Heavens, Inquirer Real Estate Writer
Philadelphia resident Fred Brinkley Sr. drove a tractor-trailer for 10 years before a car accident injured him so badly he couldn't work. Waiting for his disability claim to be processed, he fell behind on his mortgage payments and faced losing his house to foreclosure. For help, Brinkley turned to the city's mortgage foreclosure prevention program. With the help of counseling through Center in the Park in Germantown, he is set to sign papers Thursday for a loan from Pennsylvania's Homeowners' Emergency Mortgage Assistance Program to help him get current on his loan and avert foreclosure.
REAL_ESTATE
June 7, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
A couple of studies have crossed my electronic desk, and I thought I'd share them with you, because both relate to topics I have written about in recent weeks. The first is a Cornell University analysis, published in an article in the June issue of the American Sociological Review, contending that foreclosures "fueled racial segregation in the United States. " The paper, co-authored by Kyle Crowder of the University of Washington and Amy Spring of Georgia State University, acknowledges that nine million American families have lost their homes to foreclosure since the real estate downturn started in 2007.
BUSINESS
January 18, 2013 | By Alan J. Heavens, Inquirer Real Estate Writer
  Foreclosure filings fell 3 percent nationally in 2012 from 2011's levels and were 36 percent below their 2010 peak, RealtyTrac reported Thursday. Filings did increase in New Jersey (up 55 percent) and Pennsylvania (up 28 percent) last year, the Irvine, Calif.-based real-estate information firm said, but were still below the levels of 2010, considered a record year for foreclosures nationwide. States experiencing hefty increases in 2012, including New Jersey and Pennsylvania, were those in which the courts handle foreclosures, said RealtyTrac vice president Daren Blomquist.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
BUSINESS
August 5, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Begun as the government's response to the foreclosure crisis, the Treasury Department's Home Affordable Modification Program wasn't supposed to last forever. The Dec. 31 end of the foreclosure relief program, which offered a more affordable payment by adjusting interest rates, extending the loan term, and reducing or forbearing principal, will leave a gap that the government is trying to fill. The Consumer Financial Protection Bureau, created under the Dodd-Frank Act of 2010, is proposing consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policy makers as they develop foreclosure-relief solutions to replace what is better known by its acronym, HAMP.
NEWS
July 25, 2016 | By Jake Blumgart
Ever get the feeling you've been cheated? That's the creeping sensation Florida homeowner Lisa Epstein had as she reviewed the foreclosure case against her. She'd never dealt with the financial institutions taking her to court and their paperwork didn't seem to be in order. Most of the millions of Americans foreclosed upon when the housing bubble burst didn't fight back. But some actually read the inscrutable documents sent by financial institutions. These people pushed back, and in the process revealed the systemic fraud at the heart of the foreclosure crisis.
REAL_ESTATE
January 25, 2016 | By Alan J. Heavens, Inquirer Real Estate Writer
Can you be a Monday morning quarterback on a Sunday morning? If not, let me say that we are still on cleanup duty for the real estate market of 2016. We'll start with the worst: foreclosures. As of November, the number of started foreclosures reached its lowest level in 10 years. Filings - default notices, scheduled auctions and bank repossessions - were reported on 104,111 U.S. properties in November, a drop of nearly 10 percent from the previous month and down more than 7 percent from 2014.
NEWS
January 22, 2016 | By Barbara Boyer, Staff Writer
A Woolwich Township man was sentenced Wednesday to six years in prison for scamming financially troubled homeowners and soliciting fake real estate investments, netting more than $3 million in illegal profits, U.S. Attorney Paul J. Fishman announced Wednesday. Randy Poulson, 44, had been charged in May 2014 and later pleaded guilty to mail fraud before U.S. District Judge Renée Marie Bumb in Camden. Wednesday, Poulson was back before the judge. According to court documents, Poulson owned and operated Equity Capital Investments L.L.C.
BUSINESS
December 21, 2015 | By Jane M. Von Bergen, Staff Writer
Editor's note: This article previously misidentified Dodds' second wife. She is Carol Rogers and heads Healthy Philadelphia. The workers' revolution hasn't arrived at a sad strip shopping center in the tired upstate Pennsylvania town of Dallas, where Republican State Sen. Lisa Baker has her office. Instead, John Dodds, one of the state's longest-working champions of causes involving the poor - minimum wage, health care, foreclosure, unemployment benefits - is tucking leaflets under windshield wipers in the parking lot with a not-so-stirring message: "Call Sen. Baker and ask her to report a $10.10/hour minimum wage bill out of her committee.
BUSINESS
October 15, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
The number of U.S. houses left vacant because of foreclosure fell 43 percent in the third quarter compared with the same period last year, yet New Jersey's share of these so-called zombies keeps it at the top of a national list. RealtyTrac, an Irvine, Calif., real estate information company that monitors foreclosures, reports that the number of these zombies - houses vacated by their owners at the start of foreclosures that were never completed - rose 29 percent in New Jersey year-over-year in the third quarter.
REAL_ESTATE
June 7, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
A couple of studies have crossed my electronic desk, and I thought I'd share them with you, because both relate to topics I have written about in recent weeks. The first is a Cornell University analysis, published in an article in the June issue of the American Sociological Review, contending that foreclosures "fueled racial segregation in the United States. " The paper, co-authored by Kyle Crowder of the University of Washington and Amy Spring of Georgia State University, acknowledges that nine million American families have lost their homes to foreclosure since the real estate downturn started in 2007.
REAL_ESTATE
May 17, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
Most of us believe in second chances. If we didn't, no one would ever show up at a Phillies game. The second chance I'm talking about, however, is for someone who has lost his or her house as the result of foreclosure. It's been about nine years since the start of the U.S. foreclosure crisis, which peaked at 7.7 million houses in foreclosure in 2012. With the passage of the years, once-distressed homeowners with restored credit are reentering the housing market, even though damaged credit profiles and lender rules will greatly restrict the overall share of those eligible to buy. According to the National Association of Realtors, California, Florida, and Arizona, where the foreclosure crisis started, are expected to have the largest share of return buyers within the next decade.
NEWS
April 28, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
The foreclosure nightmare that haunted U.S. homeowners during and after the Great Recession has loosened its grip considerably in most states. In New Jersey, the bad dream just gets scarier. Foreclosures there are 17 percent higher than they were in 2014, and bank repossessions of homes are up 18 percent, the housing-analytics firm RealtyTrac reported last week - even as the rest of the country logged the lowest foreclosure numbers in eight years. One in every 234 homes in the state with a mortgage is in some stage of the foreclosure process - the fifth-highest rate in the nation.
BUSINESS
April 19, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
In what is described as an effort to be as transparent as possible, the Philadelphia Sheriff's Office has unveiled a Web app offering detailed information on properties scheduled for mortgage foreclosure sale. The app, which Friday listed 736 properties scheduled for sale May 5, can be accessed at www.phillysheriff.com . Sheriff Jewell Williams said the app will provide "a level of technical efficiency and service" that has never been offered by his office. He said the app was in line with his efforts to provide more openness and accessibility to records and data for the public.
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|