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Foreclosure

Freddie Launches REO Rental Initiative

On Thursday, Freddie Mac announced the official launch of its new REO Rental Initiative, giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis.

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Market Conditions Lead to Growth for Foreclosure.com

Foreclosure.com, based on Boca Raton, Florida, announced that it has doubled the size of its agent services department in response to high volume and demand for programs that help connect buyers and sellers in the distressed real estate marketplace.

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Attorney Group Offers ‘Immediate’ Loan Mod Program

With President Obama’s recent proposal to provide $75 billion to help modify home loans, millions of Americans on the brink of foreclosure now have hope in sight. But what’s uncertain, particularly for those who are facing imminent foreclosure, is how quickly the assistance will funnel down the pipeline to homeowners.

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HOPE NOW: 123,000 Modifications in January

HOPE NOW, a foreclosure prevention alliance of mortgage servicers, non-profit counselors, and investors, today announced that its members and the larger mortgage lending industry modified 123,000 mortgages in January 2009.

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LPS Reports Increase in Jumbo Prime Foreclosures

Lender Processing Services, Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has released its February 2009 LPS Mortgage Monitor. Among the findings, LPS reports that foreclosure starts have continued to increase across major product types over the past several months despite moratoria and mitigation.

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NeighborWorks Receives Smith Barney Donation

NeighborWorks Center for Foreclosure Solutions announced yesterday that it has received a donation in the amount of $50,000 from Smith Barney, a division of Citigroup Global Markets Inc. The contribution was awarded to help support foreclosure intervention and prevention strategies.

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ACORN Activist Charged in Foreclosure Break-in

An activist for the Association of Community Organizations for Reform Now (ACORN) has been charged with fourth degree burglary for helping a Southeast Baltimore woman break into her former home last week as part of a protest demonstration against foreclosures.

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Texas Companies Turn to E-Mods to Prevent Foreclosures

To provide faster service and acceptance of loan restructurings, Wingspan Portfolio Advisors, a Carrollton, Texas firm specializing in saving seriously delinquent loans from foreclosure, has selected electronic mortgage solutions from Houston-based SigniaDocs.

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California Issues Foreclosure Moratorium

California Gov. Arnold Schwarzenegger approved a bill appended to the state’s budget package last week that institutes a 90-day foreclosure moratorium throughout the Golden State. Introduced by Sen.

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