A part of the 2013 Arizona budget bill that garnered “make the news” attention was the $50 million swept from the Attorney General’s Mortgage Settlement Fund. The budget takes over half of the settlement, $50 million, and diverts it to the General Fund.... Read more»
A federal judge has approved a $25 billion settlement between the nation’s five largest mortgage lenders and the attorneys general of 49 states and the District of Columbia over abuses in foreclosure processing.... Read more»
Banks are neglecting foreclosed homes in minority neighborhoods compared to those in white communities, according to a housing advocacy group.... Read more»1
Reducing mortgages would help keep hundreds of thousands of families in their homes, save Freddie Mac and Fannie Mae money and help taxpayers, the mortgage giants said.... Read more»
Tucsonans faced with the loss of a home can attend a free foreclosure prevention workshop March 10 hosted by U.S. Rep. Raúl Grijalva.... Read more»
Allowing owners of foreclosed homes to remain as renters for at least a year would stabilize neighborhoods and minimize the fallout for families, a state lawmaker contends.... Read more»
Four years after the housing market collapse triggered a wave of defaults, the worst may be yet to come for homeowners, and minorities are most at risk, according to a new study.... Read more»1
Foreclosures could be taking a toll on the physical and mental health of Arizonans, according to a new study by the National Bureau of Economic Research.... Read more»
With his company’s business up and inventory at a five-year low, Realtor Greg Hollman said the housing market in Arizona’s second-largest metropolitan area is thriving. But that assessment runs counter to a recent national news report that branded Tucson the nation’s sickest housing market.... Read more»1
In a new report , the FBI pats itself on the back for using “sophisticated investigative techniques” to target mortgage fraudsters. Not everyone is impressed. Consumer advocates say the FBI is turning a blind eye to misconduct by big banks.... Read more»
Earlier this week, the federal government put out a request for ideas on how to transform some of the roughly 250,000 government-owned foreclosed homes into rental properties.... Read more»
As the financial markets roil, one of the critical factors weighing down the U.S. economy is the flood of home foreclosures. Thursday’s crash underscores how difficult it will be for the economy to make significant strides while the housing market is still in tatters.... Read more»
Just under half of all Arizona mortgages were “underwater” in spring of this year, the second-highest percentage in the nation, according to a report from a private research firm. CoreLogic said only Nevada, at 63 percent, had a higher rate.... Read more»2
Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila Bair’s revealing exit interview by the New York Times has generated plenty of buzz. But while the interview provided a comprehensive look at Bair’s role from 2006 to 2011, what caught our attention was her characterization of the foreclosure crisis.... Read more»
While regulators have banned the practice, some banks and others who handle mortgages still have been forcing homeowners into a corner.... Read more»
JPMorgan Chase acknowledged this week that it overcharged some 4,000 military families for their mortgages and wrongfully foreclosed on at least 14.... Read more»
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