Loss Mitigation Home Retention Options Revised

Last Tuesday, the Federal Housing Administration announced changes to the loss mitigation program that gives mortgage borrowers more options to help them keep their homes.  Through the changes to the Loss Mitigation Home Retention Options, a larger number of current distressed mortgage borrowers can quality for loss mitigation interventions ...

Nevada's New Foreclosure Law Vastly Reduces Foreclosure Filings

The newly implemented foreclosure proceedings law in Nevada has greatly reduced the number of foreclosures filed by banks over delinquent homes.  The difference has been astonishing, as the law went into effect October, only 600 default notices were issued, compared to 5,360 the month before.  The new law requires banks to personally ...

Report: Foreclosure Rates Double in 2011

Fitch Ratings, who track real estate market statistics in the United States, is reporting that the amount of homes going through the foreclosure process for failure to meet mortgage payments is twice as much as was reported this time last year.  New foreclosures on delinquent mortgages have reached 10 percent per month, which is significantly ...

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