Tag Archives: Foreclosure

Why did a federal appellate court rule in favor of U.S. Bank in a case where a homeowner was trying to get his foreclosure dismissed?

The legal authority of Mortgage Electronic Registration Systems has repeatedly been challenged, and MERS has repeatedly come out on top.

The nationwide share of residential homes in foreclosure is at its lowest level in eight years, but it remains high in a few areas. What states account for a large portion of the country's homes in foreclosure?

The court agreed with the borrowers that the 2013 foreclosure action by Wells Fargo is time-barred by the state’s five-year statute of limitations; however. . .

While delaying foreclosure on a home does have some potential benefits, for the most part it is counterproductive.

At least two cases decided by the United States District Court Southern District of Florida ended with the court siding against the homeowners and for the servicers, giving financial firms a bit more room when interpreting a significant part of RESPA.

The pipeline of U.S. homes in some stage of foreclosure continues to decline with approximately 470,000 homes classified as in some state of distress during the month of August, down 25.2 percent from August of 2014, according to CoreLogic’s latest National Foreclosure report.

Borrowers are warned to watch for the warning signs of foreclosure and to seek help if they look familiar. If a borrower is in need of help avoiding foreclosure, Freddie Mac lists several options to contact for help: the lender, housing counselors, Freddie Mac borrower help centers, and house finance agencies.

The U.S. Department of Housing and Urban Development (HUD) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders the option of delaying foreclosure proceedings on surviving non-borrowing spouses.

The Federal Housing Administration (FHA) responded in the Federal Register on Wednesday to comments on the alternative path to claim payment (the Mortgagee Optional Election Assignment) for certain Home Equity Conversion Mortgages (HECMs), which centers on the delaying of foreclosure on a non-borrowing spouse following a borrowing spouse's death.