Foreclosure

Florida courts have seen a rise in equitable lien foreclosures in what appears to be an attempt to defraud “unsophisticated and unsuspecting third-party purchasers at foreclosure sales.”

January performance data decreased by 10-basis points in the national delinquency rate over December.

According to CoreLogic, foreclosure rates remained near record lows to close out 2022, as healthy employment numbers helped borrowers remain current on their payments.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to nearly 4% of all loans outstanding at the end of Q4 of 2022.

Attorney Geoffrey K. Milne discusses standing in a mortgage foreclosure, and the ramifications for both the lender and borrower.

HUD Secretary Marcia L. Fudge has announced that more than 1.8 million FHA borrowers received a forbearance due to a hardship created or exacerbated by COVID-19.

“The uptick in overall foreclosure filings nationwide points toward a trend that may suggest more increased activity is on the horizon as we enter the new year,” said ATTOM CEO Rob Barber.

Attorneys Thuy Frazier and Cole Patton discuss what happens when a borrower passes away before the underlying mortgage obligation has been satisfied.

According to the National Consumer Law Center, when the GSEs sell loans to private investors it can cause borrowers to lose protections to keep them out of foreclosure.

The Federal Housing Agency and the Consumer Financial Protection Bureau have been called on to fix servicing problems and create additional protection for the 480,000 outstanding reverse mortgages in the country.