Los Angeles City Councilman Herb Wesson, pictured in 2013, was hit with a legal judgment over outstanding credit card bills. Los Angeles City Council President Herb Wesson found himself in financial peril two years ago, narrowly avoiding a foreclosure auction on a rental house he owns in Ladera Heights.
Clearwater city leaders are considering a foreclosure registry. The ordinance would require banks to register all foreclosed properties with the city. Foreclosure News
The lack of inventory has yet to catch up to this market as home sales for the real estate market in Byron GA continued to stay high. It is surprising as there are less than 2 months of homes for buyers and investors to choose from right now. Foreclosure News
The mortgage and real estate industries are hopeful that the Federal Housing Administration is moving more aggressively to revive its condominium loan program. The program's scope was reduced during the Obama administration after the FHA had imposed restrictions on condo loan approvals due to crisis-era losses. Foreclosure News
Traditional mortgage lenders will not loan more than 80 percent of the value of a home without the additional protection afforded by mortgage insurance. This is due to the increase in risk of default and foreclosure when borrowers have less than 20 percent equity in their homes at purchase. Foreclosure News
How conflicts of interest on the part of a senior banking regulator, Joseph Otting, help explain why the Community Reinvestment Act is on the chopping block. Joseph Otting, Comptroller of the Currency, prepares to testify during a House Financial Services Committee hearing in Rayburn Building in Washington. Foreclosure News
Chicago's Trump Tower has an unusually large number of condominiums for sale and for rent, and real estate agents predict that a glut of available units in the building may pressure owners to drop… You can't blame a homeowner in Fresno, Calif., for viewing the thriving metropolis to its northwest with both envy and dismay….
