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Monday, 10 June 2013 11:41

Bank foreclosure settlement to help fight blight

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Danny James (from left) Timothy Vondell Jefferson, Verlincia Cuyler and Fred Young are working to get a foreclosure summit and registry set up to address the issues of foreclosures in Clayton County. Jefferson is leading the group.

— Timothy Vondell Jefferson is tired of seeing Clayton County sitting

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WASHINGTON -- Mortgage financiers Fannie Mae and Freddie Mac would be liquidated within five years and replaced by an entity offering government reinsurance for mortgage-backed debt under draft legislation from a bipartisan group of U.S. senators.To protect taxpayers from having to absorb losses incurred during periods of economic stress, the...

SPRINGFIELD, Mass. (WWLP) - Families facing foreclosure gathered Monday night in Springfield to share their stores and gain support.

Monday’s event sponsored by the Springfield No One Leaves coalition at the trinity united Methodist church on Sumner Avenue.

These frustrated mortgage borrowers say they have been left with few options.

"The most

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NEW YORK | Tue Jun 4, 2013 9:25am EDT

NEW YORK (Reuters) - The state of New York plans to sue HSBC Holdings Plc for ignoring a law designed to protect struggling homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages.

The lawsuit being filed by state Attorney General Eric Schneiderman in

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Half a decade since the housing bust, many foreclosures are showing their age. A quarter of cases now in Hillsborough court are at least 3 years old.

So who's keeping Florida's more than 350,000 pending foreclosures in court? Judges largely blame the banks. State court data show banks regularly delay cases so long that judges drop them for lack of

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The Obama administration on Thursday said it was extending the life of its signature foreclosure-prevention program by two years to help more struggling borrowers keep their homes.

The Home Affordable Modification Program, or HAMP, was to expire at the end of this year.

When it was unveiled in 2009, the administration

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WASHINGTON (Reuters) - The Obama administration on Thursday said it was extending the life of its signature foreclosure-prevention program by two years to help more struggling borrowers keep their homes.

The Home Affordable Modification Program, or HAMP, was to expire at the end of this year.

When it

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Foreclosure and bank owned sales fell 18% in the first quarter to 190,121, according to RealtyTrac's latest report.  This is down 22% from Q1 2012.

Foreclosure and short sales accounted for 21% of all residential sales in Q1, down form 25% in Q1 2012, and a peak of 45% in Q1 2009. 

Meanwhile, non-foreclosure short sales were down

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In 2008, the Emergency Economic Stabilization Act created the Troubled Asset Relief Program (TARP), which provided $700 billion to the Treasury to address the subprime mortgage crisis and to “maximize assistance for homeowners.” As we know, the majority of that money went to the banks that created the mortgage crisis with high-risk products, and...
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