Lenders are pressuring tenants to vacate homes subject to foreclosure, according to state Public Advocate Ronald K. Chen . Chen said the state has aided 160 residents who faced eviction because the properties where they lived were subject to …
Some people run away from their troubles. Shauna Vogt runs right at them. She took up running to relieve the stress she felt after her husband lost his job in April. One night while jogging in her Hebron neighborhood, Vogt noticed the aftermath of an …
BERKELEY — Removal of an underground oil tank at the site of the historic Manitou Park schoolhouse and Third Avenue basketball courts probably won’t delay plans to improve the courts and a playground at the site. The Town Council recently …
A month before the foreclosure sale of her rental home is complete, Jennifer Grant, a 34-year-old single mother, is looking high and low for public assistance that will get her and six relatives through a difficult time. In October 2008, the family …
Exactly who made Bernadine Shimon think that she could buy a new house shortly after declaring bankruptcy and losing another home to foreclosure? The American taxpayer, that’s who. Without a Federal Housing Administration willing to guarantee a $125 …
WASHINGTON – The U.S. Department of Housing and Urban Development today announced that its mortgagee Review Board (MRB) is proposing to permanently withdraw the HUD/FHA approval of Financial mortgage USA, Inc., a Home Equity Conversion mortgage (HECM or reverse mortgage) lender based in Honolulu, Hawaii. HUD’s MRB alleges the Company failed to implement an FHA-required quality control plan; separate its lending operations from those of its affiliated insurance company; conform to prudent lending practices; and properly provide borrowers with housing counseling services.
The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas.
The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000.
The resolution now goes to President Obama, and he is expected to sign it today or Saturday to avoid a government shutdown….(<a href="http://www.mortgagenewsdaily.com/10302009_higher_loan_limits.asp”>read more)
CINCINNATI, Oct 29, 2009 (UPI via COMTEX) — A Cincinnati Fire Department official said bomb technicians removed 500 pounds of black powder from a home in foreclosure. Fire Capt. Michael Washington said the powder recovered from the house in the city …
Upbeat earnings and the +3.5% GDP report helped US stocks jump around 2% yesterday, though the gains weren’t enough to wipe out losses from earlier in the week. The market is still down 2.9% from its annual high on October 19.
This morning Dow Futures are looking down 32.00 points at 9871.00, still a ways off from the 10k mark, and the S&P 500 looks to open 4.00 points lower at 1057.50.
Meanwhile, the Treasury yesterday completed its record $123 billion issuance of government-backed securities. Despite the growing deficit, each auction was “heavily oversubscribed, drawing in a total of $372.4 billion in bids, more than three times the offered amount,” said the Wall Street Journal.
The US$ index is flat this morning following heavy losses yesterday as equities rallied. WTI crude oil is down 0.4% to $79.55, and spot gold is off $2 to $1045….(<a href="http://www.mortgagenewsdaily.com/10302009_day_ahead_income_outlays.asp”>read more)
With thousands of homes entering foreclosure daily, clients are seeking to modify home loan mortgages, reduce debt and ease financial stress. One company, Home Rescue LLC is helping them do just that. COCKEYSVILLE, MD — The recession has seen …
