Google+
  • Ocwen6.46-0.04 -0.62%
  • Zillow96.79-1.45 -1.48%
  • Trulia42.64-0.57 -1.32%
  • NationStar25.40+0.04 +0.16%
  • CoreLogic33.05-0.26 -0.78%
  • RE/MAX34.1775-1.0625 -3.02%
  • Fannie Mae2.33+0.06 +2.64%
  • Freddie Mac2.21+0.06 +2.79%
  • Wells Fargo52.12-0.04 -0.08%
  • CitiMortgage47.05-0.05 -0.11%
  • Bank of America15.34+0.14 +0.92%
  • Fidelity National Financial35.90+0.20 +0.56%
  • First American34.23-0.08 -0.23%
  • AUDUSD=X0.7775N/A N/A
  • USDJPY=X117.984N/A N/A
  • WP Stock Ticker
Home | News | Foreclosure

New FHA Policy Provides Foreclosure Alternative on Reverse Mortgages

foreclosure-help

A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection of the HECM from the surviving non-borrowing spouse would postpone the foreclosure process normally triggered by last surviving borrower's death. Under the new policy, reverse mortgage lenders have the option of assigning the HECM to HUD, thus allowing that spouse to remain in the home despite his or her non-borrowing status.

Read More »

Delinquency Rate Tumbles in December, Reversing November’s Large Increase

delinquent-notice

Just one month after experiencing the largest monthly increase in six years, the nation's mortgage delinquency rate took a big tumble in December, according to Black Knight Financial Services' December 2014 "First Look" at Mortgage Data released Friday. The mortgage delinquency rate, or the number of mortgage loans that are 30 days or more past due but not in foreclosure, dropped down to 5.6 percent for December – a decline of 7.2 percent from November and 12.7 percent from December 2013.

Read More »

Foreclosure Rate Falls to Lowest Level Since ’08

foreclosure-notice-four

About 1.5 percent of all homes with a mortgage in the United States were in some state of foreclosure in November 2014, the lowest foreclosure rate since March 2008, according to CoreLogic's November 2014 National Foreclosure Report. Foreclosure inventory, which includes homes in any state of foreclosure, plummeted year-over-year in November, falling from 880,000 in November 2013 to 567,000 in November 2014 – a decline of 35.5 percent. November represented the 37th consecutive month in which foreclosure inventory declined year-over-year and the 26th straight month in which the nation's foreclosure inventory saw a double-digit percentage decline.

Read More »

Rogers Townsend & Thomas Elects Two Shareholders

handshake-two

Rogers Townsend & Thomas, a banking, default services, insurance, real estate, construction, corporate, and title services sectors law firm, has announced that default services attorneys Robert P. Davis and Michael L. Spicer have been elected Shareholders in the firm.

Read More »
Scroll To Top