foreclosure: Recovering From A Short Sale - 05/09/14 03:47 AM
Borrowers who owe more than their homes are worth can sometimes get out from under by negotiating a short sale with their lender. But short-sellers are branded as higher-risk borrowers, so new loans won’t come quickly or easily. Read More (The New York Times)
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foreclosure: Foreclosures Cost Lenders, Homeowners, the Community, and You Big Bucks - 06/02/08 09:10 AM
Earlier this month a reader, Pamela Norvell, wrote a suggestion for lessening the foreclosure crisis. She suggested a freeze and/or a rollback of interest rates to their original levels. In making her suggesting Ms. Norvell wondered what it was causing lenders to foreclose on properties rather than do a workout or a restructure. Made us curious too.
The cost of a foreclosure, it turns out, is pretty staggering and we wonder why lenders and the investors they represent aren't jumping at a solution, any solution, that would allow them to avoid going to foreclosure whenever possible.
According the Joint Economic Committee … (1 comments)

foreclosure: Momentum builds for foreclosure relief - 04/23/08 08:37 AM
An article from CNNMoney.com, reports that key legislators, Bush administration officials, banking regulators and the presidential candidates have agreed on the idea of letting the Federal Housing Administration back new loans for homeowners at risk of foreclosure.  All of the plans that have been proposed would let the FHA insure mortgages for troubled borrowers whose lenders voluntarily write down loans to an affordable level.  Once refinanced, the loans could be sold to investors, which in turn could jump start the mortgage market as a whole.  Details, such as which borrowers would be eligible and how the program would be funded, still need to be worked … (1 comments)