Foreclosures in the Dallas-Fort Worth area have soared again, setting a new monthly record for the Dallas-Fort Worth area. Mortgage lenders posted 6,168 foreclosures scheduled for the month of April. This is the only the second time that foreclosures in the Dallas-Fort Worth area have topped 6,000, the last time was last July when 6,072 [...]
Nadya Suleman, the infamous "Octomom" is facing a possible foreclosure for failing to pay her owner financed mortgage. The two-story, four-bedroom, three-bath cul-de-sac residence in La Habra, CA which was home for Suleman and her 14 children is at the center of this dispute. She bought the house in March 2009 from seller Amer Haddadin, [...]
Actor Nicolas Cage's Las Vegas mansion has just been sold after its foreclosure put the home into the hands of the mortgage lender. Nicholas cage has faced four foreclosures since his financial troubles were revealed last year. Reportedly, the home sold in just one day for $4.95 million which is $3.6 million less than what [...]
The Treasury Department has admitted that the Making Home Affordable (HAMP) foreclosure prevention program has not made the type of impact that was expected. In response the Treasury Department is instituting new rules that will take effect on June 1, 2010. The new HAMP requirements will force servicers to have in hand all the needed [...]
5,548 Dallas-Fort Worth area homes were posted for forced sale in March's foreclosure auctions. Concerning foreclosures, the Dallas-Fort Worth area is definitely not out of the woods yet. There has been somewhat of a turnaround in the economy, but many people are continuing to struggle. According to Dallas area-based Foreclosure Listing Service Inc., 5,548 homes [...]
A former loan officer in the Dallas-Fort Worth area has been sentenced to over 3 years in a federal prison and ordered to $751,075 for falsifying mortgage documents sent to the U.S. Department of Housing and Urban Development. Lynn Anne Ingle, 36, of Burleson is the second person to admit guilt in a scheme that [...]
Home sales were down in January, another sign that the housing market may not be recovering as quickly as many had hoped. Sales of previously owned homes fell by 7.2 percent bringing the number of homes sold to its lowest level since summer. "Most of the improvement that we've seen in housing over the past [...]
Is the Making Home Affordable Modification Program Working? When the Obama administration launched the Making Home Affordable Modification Program (HAMP) many homeowners thought they would finally have access to modification tools that would help them avoid foreclosure . However, HAMP has failed to deliver on its promises and many view the $75 billion invested in [...]
Re-defaults on loan modifications. Many homeowners who attempted to avoid foreclosure by signing up for a 3 month trial in the HAMP program may end up falling into default again. Presently, the number of defaults in the HAMP program has exceeded 60 percent and many analysts expect that number to rise. Upside-down mortgages. One of [...]
Foreclosures in the Dallas-Fort Worth area rose again by 18 percent compared to last month's foreclosure filings. But compared to last year's foreclosure filings in the same month, the foreclosures increased by a whopping 37 percent. Many analysts believe that many foreclosures that were on hold at the end of 2009 are now being released [...]