A Surge in Foreclosures Is On the Horizon The month of January in 2014 experienced a decrease in the number of foreclosures in the United States which brought the total number of completed foreclosures to a six-year low.
GSEs knew of foreclosure attorney abuses in 2003: FHFA-OIG Fannie Mae and Freddie Mac will be wound down. The government will continue to use taxpayer money to make it cheaper and safer for Americans to take out mortgages on home purchases. The administration.
Churches see surge in foreclosures. Program Director Axel Adams said he’s talked to about 40 churches in California and many more nationwide that are straining to make property payments.
Nonjudicial foreclosure is the most common type of foreclosure in California. It is used when there is a power-of-sale clause in the deed of trust that secures the mortgage loan by giving the trustee the authority to sell the home to pay off the loan balance at the request of the lender if the borrower defaults (fails to make payments).
Foreclosures in Southern California hit their highest level in two years in January, according to new data out Thursday. But market-watchers say.
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Home foreclosures continue to run at breakneck speed. Bloomberg reports, U.S. Foreclosure Filings Set Third Record-High in Five Months : Foreclosure filings in the U.S. climbed to a record for the third time in five months in July as falling home prices and the recession left more homeowners unable to keep up payments or refinance.
Statistics on new foreclosures in the first quarter 2014 suggest that on average, homeowners in California had missed 18 payments before foreclosure was started! And once foreclosure was started, with the recordation of a formal notice of default, another 429 days elapsed, on average, before the foreclosure sale.
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