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Titanium offering foreclosure solutions
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Years in the banking industry convinced Todd Sibley that there had to be a more effective way to deal with homeowners in danger of foreclosure.
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Lenders shut down some home-equity lines of credit
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MELVILLE, N.Y. Homeowners have been getting their home-equity lines of credit frozen or pared down by lenders trying to cut risks. It happened to dentist Michael Sherman, who can't touch his $100,000 credit line for bathroom renovations because he has little equity in his home, and to homeowner Suzanne Dzolan, whose $200,000 limit was halved soon after she paid what she used to redo the house. "It's almost hurt me to be someone who was a good borrower," said Dzolan, a mortgage broker. "They...
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The Nation; 400 charged as U.S. cracks down on mortgage fraud
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With Wall Street executives handcuffed and paraded in front of TV cameras and dozens of alleged mortgage scam artists arrested in cities nationwide, the penalty phase of the mortgage meltdown has begun in earnest. The Justice Department said Thursday that more than 400 real estate industry players, including dozens in recent days, had been charged since March in a federal crackdown on incidents of mortgage fraud that have contributed to the housing crisis. Those arrested included brokers,...
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Housing rescue bill faces delays; Republican says if homeowners bought, they should pay
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WASHINGTON -- Conservative Republicans in the Senate were seeking to slow completion of an election-year housing rescue bill designed to help thousands of homeowners avoid foreclosure and boost lawmakers' standing with voters.
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Big oil now a homebuilder's bane; Energy prices that once fueled boom here have construction costs.
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For Houston-area builders, the blessing of big oil is becoming a curse. The same high energy prices that created thousands of local jobs, fueling home sales in the midst of a national housing slump, are now causing building materials and the cost of delivering them to soar. On top of already high prices on such commodities as copper, concrete and steel, builders are paying more for plastic pipe, shingles and other petroleum-related products.
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Lender guidelines aim to aid troubled homeowners
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Most of the nation's biggest mortgage lenders have agreed to guidelines aimed at giving help to troubled borrowers faster and exploring other options before starting foreclosure proceedings. The voluntary plan, announced yesterday by the Hope Now alliance, a federally backed coalition of lenders and nonprofit housing counselors, is the first streamlined framework on what lenders and their mortgage servicers should do and what borrowers can expect. It recognizes some key problems in preventing...
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Nationwide, foreclosures up 48% from a year ago; Critics say plan by government, industry to help..
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Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that lenders are making a dent in the housing crisis. Foreclosure filings last month were up nearly 50 percent compared with a year earlier.
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Northeast lags as U.S. home resales rise
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The number of Americans signing contracts to buy existing homes rose unexpectedly everywhere but the Northeast, as the first national drop in prices since the 1930s lured buyers back into the market in the West, Midwest and South.
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Record foreclosures won't ease soon; 'It doesn't get any worse than this,' economist says
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With homes entering foreclosure at a record rate, economists see no letup in the surge of homeowners who are losing their properties for failure to pay their mortgage. For the first quarter of the year, the rate of new foreclosures hit 0.99%, the highest point since record-keeping began in 1979, the Mortgage Bankers Association said Thursday. And the delinquency rate -- reflecting those at least 30 days behind on their bills and at risk of sinking into foreclosure -- reached 6.35%. That was...
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Mortgage troubles hit record highs; California and Florida drive the trend. The number of prime...
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Mortgage delinquencies and foreclosures reached record levels in the first three months of this year, driven higher by increasing housing woes in California and Florida, the Mortgage Bankers Assn. reported Thursday.
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