According to an article in the Dallas Morning News , the high-profile 1001 Ross Avenue apartment block with retail space on the ground floor was posted for foreclosure. The article said: "The downtown Dallas apartment project is one of 184 commercial and investment properties threatened with forced sale at next month's foreclosure auctions in Dallas, [...]
According to an article in the Dallas Morning News, North Texas home sales have declined by 19 percent in 2009. But July home sales show a little promise with a decline of only 7 percent, the smallest year-over-year decrease since last fall. The article said: "Real estate agents sold 7,127 single-family homes in July, the [...]
Millions of homeowners are at least 60 days past due on their mortgages and facing imminent foreclosure; but they're having a hard time taking advantage of mortgage modifications that could help them avoid foreclosure. The government's Making Home Affordable program has experienced sub par involvement from mortgage servicers and only 9 percent of eligible borrowers [...]
According to an article in the Star-Telegram , at least 30 mortgage servicers have faced lawsuits accusing them of harassing borrowers, imposing illegal fees, charging for unnecessary insurance and failing to quickly aid homeowners facing foreclosure despite billions of dollars invested in foreclosure prevention by the government. But despite the lawsuits and controversy surrounding mortgage [...]
According to an article in the Star-Telegram the government has released the first list of mortgage lenders who have failed or succeeded to make a significant impact with the foreclosure prevention plans implemented by the government. According to the article, only 9 percent of eligible borrowers have reduced their mortgage payments with modified loans and [...]
According to an article in the Star-Telegram , only 15 percent of homeowners facing foreclosure have been offered assistance through the government's $50 billion loan modification program. Many mortgage lenders such as American Home Mortgage Servicing and PNC Financial Services Group Inc. have not modified a single toxic mortgage--not one with other mortgage lenders modifying [...]
According to an article in the Star-Telegram , the government plans use shame (instead of Bankruptcy) to encourage the mortgage industry to modify more toxic mortgages and prevent foreclosure. The article said: "By publishing the names of companies that are lagging behind in the government's plan to ease the housing crisis, officials are counting on [...]
According to an article in the Dallas Morning News, the number of North Texas homeowners facing possible foreclosure grew in June. In June 4.5 percent of Dallas-Fort Worth homeowners were 90 days or more late with their mortgage payments. That's an increase of 1.1 percentage points from a year ago. The article said: "During the [...]
The decision to file for bankruptcy is typically a last resort for consumers who find themselves plagued with debt. While bankruptcy may offer a fresh start and relief from bills incurred from divorce, unemployment and uninsured medical costs, many consumers worry about how the decision will ultimately impact their financial future. Myth #1 - Filing [...]
According to an article in the Star-Telegram , Federal authorities are creating a foreclosure fraud task force to investigate scams that continue to contribute to the economic crisis and the growing tide of foreclosures. The article said: "The task force will focus on "foreclosure rescue" schemes and "short sale" schemes. Foreclosure rescue schemes prey on [...]