The state of Nevada is taking steps towards helping homeowners facing possible foreclosure

Tuesday, February 07, 2012

Mortgage loan applications have increased 23% this last week due to record low rates.

Orlando, FL (MBNews.org) -- Historic record low have encouraged many homeowners to refinance according to the Mortgage Bankers Association.

We have seen refinancing activity climbed 26.4% just this week week ending January 13, to its highest level since early August, the MBA reported. Meanwhile applications for new mortgages climbed 10.3% week-over-week.

Time to buy a house? Home prices have fallen and mortgage interest rates are lower than they have ever been.

Miami (MBNews.org) — Time to buy a house? Home prices have fallen and mortgage interest rates are lower than they have ever been.

A recent report from J.P. Morgan Asset Management, titled “Housing: A time to buy,” written by David Kelly and David Lebovitz, made the case for why a home may be a wise purchase. Read more: Mortgage rates plunge beyond expectations.

Although the U.S. housing market remains extremely depressed, we believe that given current valuations and demographic dynamics, now may be the time to consider an investment in housing,” the report said.

Goldman, Two Firms Agree on Foreclosure-Signing Practice

Goldman Sachs will compensate some home loan borrowers for wrongful foreclosures under an agreement reached with a New York state banking regulator.

The agreement, which New York financial services superintendent Benjamin Lawsky reached with Goldman [GS 112.16 -4.06 (-3.49%) ] and Ocwen Financial [OCN 13.28 -0.52 (-3.77%) ], contains several measures to strengthen the oversight of foreclosure proceedings.

It also will allow Goldman's planned sale of its Litton Loan Servicing LP unit to continue.

U.S. asks Bank of America to report back up plans if conditions worsen

The U.S. Federal Housing Finance Agency plans to sue "more than a dozen" major banks for billions of dollars over alleged misrepresentation of mortgage-backed securities sold before the housing bubble burst, the New York Times reported late Thursday.

U.S. asks Bank of America to report back up plans if conditions worsen

U.S. regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation.

U.S. regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation. Read more...

More Americans at Risk of Foreclosure

The number of Americans at risk of foreclosure is rising, reflecting the U.S. economy’s continued struggles.

The Mortgage Bankers Association said Monday that 8.44 percent of homeowners missed at least one mortgage payment in the April-June quarter. That figure, which is adjusted for seasonal factors, rose 0.12 percentage point from the January-March period. Read more...

New York AG Kicked Off Foreclosure Probe Panel

Iowa Attorney General Tom Miller said late yesterday that his New York counterpart, Eric Schneiderman, had been removed from the executive committee working on a multistate foreclosure probe – and potential settlement – with U.S. banks.

The state of Nevada is taking steps towards helping homeowners facing possible foreclosure

Secondary Market

Wednesday, 25 August 2010 20:58

By Elizabeth Martinez

Miami, FL-In an attempt to offer help to the victims of this mortgage crisis, Washoe County's Senior Law Project (a program within the Senior Services department), in Reno is offering seminars where basic information will be provided and there will be a question and answer session at the end of each seminar. Attendees are asked to bring their latest mortgage statement and a simple budget to the workshop they wish to attend.
These seminars will be directed towards those homeowners struggling to make their mortgage payments, and those that might be soon facing foreclosure.

Foreclosure numbers are increasing in this area of the country. In Lyon County, according to July statistics, one in every 53 homes entered into foreclosure. Lyon County was deemed the third most "economically stressed" county in the nation earlier this summer, with the "stress index" based on adding up unemployment, foreclosures rates and bankruptcy rates.

Due to this statistics, the state is taking steps to help out those that might or are already affected by the mortgage crisis. The seminars will be divided into two options:
Seminar A focusing on basic foreclosure information, including issues such as the time frame of the foreclosure process and common options available from one's mortgage company. This seminar will be conducted at the Reno Senior Center at 1155 E. 9th St., Reno, on : Wednesday, Sept. 1, from 4-6:30 p.m.; Saturday, Sept. 18, from 9 a.m.-noon; Saturday, Oct. 2, from 9 a.m.-noon; Saturday, Oct. 16, from 9 a.m.-noon; and Wednesday, Oct. 20, from 4-6:30 p.m.

Seminar B is entitled, "Nevada Foreclosure Mediation Preparation" and is based on a new law that entitles homeowners to mediate prior to foreclosure. The seminar would be specific to homeowners who have received a notice of default and would like further information regarding the mediation process. This seminar will also be conducted at the Reno Senior Center, 1155 E. 9th St., Reno, on Thursday, Sept. 2, at 4 p.m.; Thursday, Sept. 23, at 4 p.m.; Thursday, Oct. 7, at 4 p.m.; and Thursday, Oct. 21, at 4 p.m.
The public is invited to attend one or both seminars. For more information, or to reserve a seat, call the Washoe County Senior Law Project at 775-238-2656.

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