A new program offered by Fannie Mae and Freddie Mac will provide delinquent borrowers relief through a 20 percent mortgage payment reduction, the enterprises recently announced. The program, the Flex Modification, available by or on Oct. 1, 2017, is open to borrowers who are at least 60 days delinquent on their loan. Foreclosure News
The number of subprime auto loans sinking into delinquency hit their highest level since 2010 in the third quarter, with roughly 6 million individuals at least 90 days late on their car-loan payments. It's behavior much like that seen in the months heading into the 2007-2009 recession, according to data from Federal Reserve Bank of […]
The federal government has sold thousands of delinquent Maryland mortgages to private investors through a controversial program that critics argue hurts homeowners and contributes to Baltimore's vacancy problem. Now they're mounting a campaign to try to change the program established by the U.S. Department of Housing and Urban Development in 2010 partly to get bad […]
The Federal Housing Administration recently announced new procedures to strengthen the process mortgage servicers use to help struggling families avoid foreclosure and remain in their homes. FHA is streamlining its loss mitigation protocols that servicers must use when evaluating and deploying 'home retention options,' foreclosure alternatives that allow delinquent borrowers to retain their home. Foreclosure […]
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Governor Snyder signed laws in 2015 that reduced interest and other penalties on delinquent taxes. They also reduced back taxes for some homeowners who owed much more than their properties were worth. Foreclosure News
Two men found delinquent as juveniles in what was then one of the deadliest school shootings in U.S. history were confined for less than 10… ABA Journal Daily News