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Can Anything Speed Up the Foreclosure Process?

Foreclosures are becoming infamous for revolving regulations and tedious paperwork, which translate into extended delays. The foreclosure process typically takes a few months to complete, with some not closing until a year. What’s the reason behind the delays? Foreclosure experts are now reporting delays are initiated by incomplete paperwork. When…

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Why That Foreclosure Just Won’t Go Away

Seven years ago the housing bubble burst and the words “short sale” and “foreclosure” became common speak in the United States. According to RealtyTrac, almost 2 million properties have started the process of foreclosing and have not yet foreclosed. For about half of these instances the homeowners are fighting to…

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Foreclosed Homes Add Inventory to the Demands of the Housing Market

Thousands of foreclosed homes will hit the market in 2013, potentially lowering the value of neighboring homes and piling on to the continued housing crisis. But some real estate experts are suggesting just the opposite will occur – auctioned-off foreclosures may act as a stimulus to the industry, adding inventory…

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Foreclosure Reviews Fail to Be Clear and Consistent

According to recent findings and developing federal regulations, reviews for foreclosures may have been poorly designed and carelessly executed. In addition to a multi-billion dollar deal to payback eligible borrowers harmed by the foreclosure crisis, recent reports are suggesting the review process is unclear and inconsistent. In 2011, a foreclosure…

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Is Help on the Way for Upside-Down Homeowners?

This February the Responsible Homeowner Refinancing Act of 2013 was reintroduced to Congress for approval. The bill is packed with benefits for the upside-down homeowner, including the ability to refinance at lower rates. Lower rates for these homeowners could mean avoiding foreclosures and saving monthly on mortgage payments. So, where…

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Foreclosures: To Be Continued

Typically taking six months to over a year, the process of foreclosing on a home is becoming more and more familiar to US homeowners. Fannie Mae and Freddie Mac alone currently hold 2,600 foreclosed homes and over 19 thousand delinquent mortgages. Compared to loan modifications, foreclosures cost banks more money…

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2013’s Housing Forecast is Looking Up

For the first time in years, things are picking up in the housing market. With the combination of our improving economy and interest rates at historic lows, we are seeing progress in a downtrodden industry. As real-estate prices continue to stabilize, homes are quickly selling once they are on the…

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The Compliance Bubble? New Regulations Could Spur Hiring…

The financial world has undergone many changes since 2006, and many of them have not been for the better. Yet every action has a reaction, and in this case that is good news for those with compliance training and experience. As HousingWire reports: “Unemployment remains above 7% for the nation,…

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Generous Foreclosure Terms: Helping or Hurting Our Nation?

The selling of foreclosed homes has slowed over the past few years. It’s harder to lose a home due to foreclosure, even when not making monthly payments. This keeps homeowners afloat during this economic downturn. But is this helping or hurting the housing market in the long run? Real estate…

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Help for Underwater Homeowners from Fannie and Freddie

Mortgage providers and servicers, Fannie Mae and Freddie Mac, are finally taking steps to correct one of the least logical consequences of the financial collapse and subsequent bailout: That homeowners who diligently continued to make mortgage payments despite becoming underwater received no help, while homeowners who simply stopped paying received…

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New Housing Boom Fueled by Foreclosure Victims

According to Lawrence Yun, an economist for the National Association of Realtors, things are looking up for those looking to purchase a home in 2013. He is quoted as saying, “Rising home prices and a gradual uptrend in mortgage interest rates will offset improvements in family income, but 2013 likely…

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Fitch Ratings Finds Foreclosure Review Settlement “Positive”

Fitch Ratings, one of the three Nationally Recognized Statistical Rating Organizations (NRSRO) along with Standard & Poor’s (S&P) and Moody’s Investor Services, published a report calling the recent $8.5 billion settlement between government investigators and banks “positive”. The agreement, which requires banks and residential loan services to dole out cash payments to…

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Independent Foreclosure Review a “Snipe Hunt,” says Expert

Writing for Forbes Online, Daniel Fisher says that the Independent Foreclosure Review was a “snipe hunt,” and that now that the $8.5 billion settlement has brought it to an end, big banks and the government can get back to doing what they do best. Mr. Fisher reasons that it never…

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Mortgage Defaults Going Up, Not Down

While there are a few encouraging signs coming from the economy, the percentage of borrowers defaulting on their loans is certainly not one of them. The S&P Dow Jones/Experian credit default indices indicate that defaults have been rising for the past three months, taking a slight jump in November and…

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Big Banks and Government Reach Agreement, End the Independent Review

On Monday federal regulators overseeing the Independent Foreclosure Review (IFR) and 10 of the banks found guilty of documentation errors during the foreclosure crisis in 2009 and 2010 reached an $8.5 billion settlement that brings an abrupt end to the IFR. Citing the growing cost of conducting the independent reviews,…

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New QM Rule Could Be Coming January 9th

In an interview with HousingWire, Richard Andreano, a partner at Ballard Spahr, said that it is possible the Consumer Financial Protection Bureau (CFPB) could announce new rules that would affect a number of financial products, most notably Qualified Mortgages, as early as January 9th. The CFPB, established in 2011 as…

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Cash in on the Independent Foreclosure Review with Blue Streak Docs

The extension of the Independent Foreclosure Review application period to December 31st, 2012 has hundreds of thousands of people in search of help navigating the process. If you are one of the many forward-thinking attorneys, or real estate and mortgage professionals offering help to these folks, you need a document…

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