foreclosure

Government
6:46 am
Thu April 25, 2013

Illinois County Recorders to Split $3.3M Settlement

Credit wikipedia

Illinois' 102 county recorders will split $3.3 million from the settlement of a national mortgage lawsuit. 

Attorney General Lisa Madigan announced the disbursement of funds on Wednesday.  Madigan and 45 other attorneys general reached the settlement with Florida-based Lender Processing Services Inc. in January. 

The attorneys general alleged the company used widespread "robo-signing" of mortgage documents to service loans for homeowners at risk of foreclosure. They said an LPS subsidiary took part in "surrogate signing," in which an unauthorized person signed documents in someone else's name. 

Read more
Society
8:28 am
Tue December 18, 2012

TN Offers Free Mortgage Hotline

Credit Wikimedia Commons

Tennessee homeowners facing foreclosure now have a free hotline to turn to for help. The Mortgage Assistance Hotline refers homeowners to free foreclosure prevention counseling. The hotline is staffed Monday through Friday from 8 a.m. to 6 p.m. Callers can get free counseling over the phone or get a referral for in-person counseling at a local non-profit.

Read more
Government
7:34 am
Wed November 21, 2012

Conway Joins Effort to Extend Tax Relief to Hurting Homeowners

Credit conwayforcongress.com

Kentucky Attorney General Jack Conway joined an effort to urge Congress to extend tax relief to homeowners who have had mortgage debt canceled or forgiven because of a decline in housing values. Since 2007 mortgage debt that is forgiven after a foreclosure or short sale can be excluded from a taxpayer’s taxable income. But that exclusion will expire at the end of this year.

Read more
Business
7:53 am
Fri November 16, 2012

Kentucky Residents Could Get Part of Foreclosure Settlement

Credit http://www.iconfinder.com

Kentucky residents could get part of a 49 state settlement if their home was foreclosed on between 2008 and 2011. The Paducah Sun reports the $25 billion settlement between the states and five of the country’s biggest banks means 16,000 Kentuckians could be eligible for $2,000 in relief funds.

Read more
Business
8:16 am
Thu November 15, 2012

Illinois Foreclosure Rate on the Rise

Credit http://www.iconfinder.com

Illinois' home foreclosure rate rose 6 percent in October compared to the previous month, and was 19 percent higher than in October of last year. A RealtyTrac report released Thursday shows Illinois with almost 15 thousand foreclosure filings last month, the third-highest rate in the nation. Filings include default notices, auction-sale notices and bank repossessions. Nationally, October's foreclosure activity rose 3 percent from the previous month but fell 19 percent from October of 2011.

Society
7:48 am
Thu October 11, 2012

Ill. Sees More Foreclosures This Year Than Last

http://www.iconfinder.com

Illinois foreclosures are up more than 30 percent from the same time last year. A RealtyTrac report shows third-quarter foreclosures totaled more than 42,000. That’s one of every 126 housing units, 4 percent higher than the second quarter.  That puts the state at the fourth highest foreclosure rate in the U.S.  Illinois foreclosures did drop 20 percent in September when compared to August. The three highest foreclosure rates are in Florida, Arizona and California. But nationally, foreclosure filings hit a 5-year low last month. The last time the rate was this low was in December 2007.

Society
8:01 am
Mon October 8, 2012

Tenn. Foreclosure Help Notices Mailed

www.en.wikipedia.com

An estimated 37,000 Tennessee borrowers might be eligible for payment under a $25 billion national mortgage foreclosure settlement. Eligible borrowers will receive claim forms in the mail this month. Tennessee Attorney General Bob Cooper urges those who receive the forms to complete and return them by the Jan. 18 deadline. Those eligible include people who lost their homes between 2008 and 2011 to five major mortgage services, which include Ally/GMC, Bank of America, Citi, JP Morgan Chase and Wells Fargo. The mailings will go out through Oct. 12.

Banking
1:52 pm
Fri February 10, 2012

Kentucky Will Receive Piece of Nationwide Foreclosure Settlement

Kentucky’s share of the nationwide foreclosure settlement with five major banks is nearly $59 million. Attorney General Jack Conway announced yesterday how that money will be used to help borrowers struggling with high mortgage payments or who have already been through foreclosure. Some of the funds will go toward paying down principal balances for consumers who owe more than their home is worth. Conway says,

Read more