A number of delinquency measures including the delinquency rate and percentage of loans in foreclosure rose during the third quarter of 2006 according to a survey released Wednesday by the Mortgage Bankers Association. Though the increase was across the board, affecting prime, subprime and FHA mortgages, it was larger for FHA and “increases in delinquency […]
A Pennsylvania Housing Finance Agency study released Tuesday highlights the potential of education and counseling to reduce delinquencies.
Underscoring the need for more homeownership counseling, the study participants generally thought that many residents might avoid foreclosure if they were better educated about default and delinquency prevention.
According to the studys findings,“Too many foreclosed properties remain vacant, […]
While Congress debates setting up a new entity to regulate the government sponsored mortgage market makers Fannie Mae and Freddie Mac, HUD is stepping in under existing authority to review their financial statements.
To that end, the Department will soon initiate a review of Fannie Mae and Freddie Mac investments and holdings, including certain equity and […]
ForeclosuresMass reports that Massachusetts foreclosure rate has hit a three year high, up 25% over last year.
Foreclosures were filed on 1,200 properties, 25 percent higher than the year before and 63 percent higher than February 2004. Compared to January of this year, foreclosures increased nearly 12 percent, with Middlesex County posting a 29 percent […]
Illinois Attorney General Lisa Madigan filed a lawsuit Wednesday against a company that claims to help homeowners facing bankruptcy, but which, the state claims, has actually stolen the homes and equity of many homeowners in trouble.
“We’re looking at con artists. What they are doing is one of the evilest cons I’ve ever seen,” said Illinois […]