Millions Of Older Americans Are At Risk For Losing Their Homes

Millions Of Older Americans Are At Risk For Losing Their Homes

Older Americans are struggling to keep their homes across the country, according to a new AARP report, with 1.5 million older homeowners who have already lost their homes and millions more at risk. The housing crisis is having a tough impact on them, and they’re the part of the population who are already among the worst positioned to deal with these problems. [More]

Maine Supreme Court Reverses HSBC Foreclosure On "Untrustworthy" Paperwork

Maine Supreme Court Reverses HSBC Foreclosure On "Untrustworthy" Paperwork

Maine’s Supreme Judicial Court has overturned a foreclosure brought by HSBC against a local homeowner, citing affidavits submitted by the bank as “inherently untrustworthy.” In vacating an earlier decision, the court declared that HSBC’s records “are not of the quality that would be admissible at trial.” [More]

New Home Sales Unexpectedly Plummet 11% In Jan

New Home Sales Unexpectedly Plummet 11% In Jan

Sales of new single-family homes in Jan ’10 fell 11% to 309,000 from 348,000, according to a new Census Bureau report. In Jan ’09 they were 329,000. The prognosticators expected 325,000, so this new data should put a damper on a few markets. [Bloomberg] [More]

80% Of Today's Delinquent Homeowners Will Lose Their Homes

80% Of Today's Delinquent Homeowners Will Lose Their Homes

If you know 5 people behind on their mortgage payments, 4 of them are going to end up losing their homes, according to a new study released by John Burns Real Estate Consulting. [More]

Report: Loan Modifications To Date Haven't Been That Effective

Report: Loan Modifications To Date Haven't Been That Effective

Fewer than half of loan modifications made at the end of last year actually reduced borrowers’ payments by more than 10 percent… [while] nearly one in four loan modifications in the fourth quarter actually resulted in increased monthly payments.

Top 3 Foreclosure Scams To Avoid

Top 3 Foreclosure Scams To Avoid

With so many people facing foreclosure these days, it’s a good idea to educate yourself about the types of scams that take advantage of folks who are having trouble paying their bills. Even if you are doing ok, perhaps you can help someone else by recognizing a scam.