The man who steals houses
Seattle has a shortage of housing. But all over town, houses stand vacant. Either they're in foreclosure, or they're waiting to be torn down for development.
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Puerto Rico awaits foreclosure wave as moratoriums expire
ByadminHundreds of thousands of Puerto Ricans face losing their homes upon the expiration of a three-month moratorium on mortgage payments that banks offered after Hurricane Maria devastated the island. less his Friday, Jan. 19, 2018 photo, shows one of multiple properties located in the Esperanza sector that are currently for sale, in Vieques, Puerto Rico….
Is Trump team moving to political middle in CFPB director search?
ByadminMick Mulvaney's appointment as interim director of the Consumer Financial Protection Bureau was a win for CFPB critics and the administration's conservative base. But the latest names being discussed for the permanent job have something Mulvaney lacks: a background on consumer protection issues. Foreclosure News
Maryland accelerates foreclosures on abandoned and vacant properties.
ByadminWhere traditional foreclosure cannot be docketed for 90 days after the triggering event, a lender may now petition the court for permission to immediately foreclose on vacant and abandoned properties. The petition can cut up to three months off the process, if successful. Foreclosure News
As 10 year Treasury yields spike, local mortgage rates will matter more
ByadminGovernment bond market fluctuations have renewed concerns about rising mortgage rates and may prompt borrowers to take more notice of what mortgage lenders are charging on a local level. The yield on the 10-year Treasury bond – which serves as the benchmark for mortgage interest rates – is nearing 3% for the first time since…
Foreclosure filings hit lowest level since 2005, but spike in
ByadminDuring the worst of the housing crisis, foreclosures were everywhere. Vacant, boarded-up homes with overgrown lawns out front littered the streets of the nation, turning blocks into ghost towns and dragging down neighboring property values. Foreclosure News
Ocwen refinancing $300M of notes backed by reimbursement rights
ByadminOcwen is refinancing $ 300 million of bonds backed by reimbursement rights to funds it has advanced on residential mortgages it services. The two new series of notes will both extend the maturity of the debt issued by the securitization trust and reduce the interest rate. Foreclosure News