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4.5 million foreclosed borrowers may be eligible for reviews
Seeded on Tue Oct 25, 2011 11:57 AM EDT (USA Today)
Nearly 4.5 million current and former U.S. homeowners will soon get a chance to have their foreclosure cases reviewed for mistakes and potential restitution. Next month, the U.S.
Fannie Squeezing Banks Makes 4% Mortgage a Mirage, Hinders Housing Rebound
Seeded on Tue Oct 25, 2011 11:42 AM EDT (Bloomberg.com)
Government efforts to make lenders pay for soured mortgages may be keeping potential borrowers from record-low interest rates, slowing home sales and refinancing as banks tighten standards to avoid more demands for refunds. Lenders are insisting on higher credit scores and more …
NJ home prices likely to drop 3% in 2012, appraiser predicts
Seeded on Tue Oct 25, 2011 11:36 AM EDT ()
New Jersey home prices will continue to decline in 2012 and will not return to their boom-market peaks until 2020, an appraiser who follows the state market predicted Thursday. "While our housing market will likely move back into recovery sometime next year, that recovery is …
Study finds foreclosures harm home prices more than vacancies
Seeded on Fri Oct 21, 2011 11:58 AM EDT ()
Occupied properties in foreclosure drag down the prices of sales of nearby homes twice as much as vacant properties, according to the Federal Reserve Bank of Cleveland. Researchers looked at data from 9,601 sales in Cuyahoga County between April 1, 2010, and March 31, excludin …
Foreclosure crisis may lead to health concerns nationwide
Seeded on Fri Oct 21, 2011 11:38 AM EDT (The Baltimore Sun)
The devastation of losing a house to foreclosure can lead to depression and a host of other conditions, according to the authors of new study who warn of a looming national health crisis.
Officials, banks to tackle mortgage refinancing plan: report
Seeded on Tue Oct 18, 2011 1:23 PM EDT (Reuters)
Officials and big banks are working on a plan that would make refinancing available to some borrowers whose houses are worth less than their loans, so long as they are current on mortgage payments, the Wall Street Journal reported.
Foreclosures in N.J. take an average 974 days
Seeded on Mon Oct 17, 2011 11:37 AM EDT ()
Foreclosures in New Jersey take an average of 974 days, or more than 2 1/2 years, RealtyTrac Inc. reported Wednesday. That's the second-longest process in the nation, just behind New York at 986 days.
BofA, Other Banks Can Resume Servicing of New Jersey Mortgages, Court Says
Seeded on Tue Aug 16, 2011 11:46 AM EDT (Bloomberg.com)
Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM) and two other mortgage lenders and loan servicers received approval from a New Jersey judge to resume uncontested foreclosures in the state. Citigroup Inc. (C)’s mortgage unit and Wells Fargo & Co.
Housing market: Foreclosures fall for 10th straight month
Seeded on Fri Aug 12, 2011 11:33 AM EDT (CNN)
Foreclosure filings dropped once again in July, hitting their lowest level since November 2007, as processing delays and foreclosure prevention measures enabled a larger number of delinquent borrowers to remain in their homes. Filings were down 4% compared to June and were 35% l …
Deutsche Bank foreclosure sale overturned by N.J. appellate court
Seeded on Thu Aug 11, 2011 3:31 PM EDT (NJ.com)
A New Jersey foreclosure by Deutsche Bank was overturned by a state appellate court panel yesterday because the bank could not show it possessed a debt note for the house when it moved to foreclose in 2008. The case could impact the prospects of many state foreclosure cases, a …
U.S. Senator Proposes Renting Out Foreclosures
Seeded on Tue Aug 9, 2011 1:17 PM EDT (TIME)
There’s an old Lily Tomlin joke where she says, “Wouldn’t it be great if all the people in New York who talk to themselves were paired off, so it looks like they’re talking to each other?” In a similar spirit, apparently, Senator Jack Reed (D-R.I.) …
'Rent Is Too Damn High' party's Jimmy McMillan fights eviction
Seeded on Mon Aug 8, 2011 5:30 PM EDT (New York Post)
The man who ran for governor because the "Rent is Too Damn High" claims he's being kicked out of his Manhattan apartment -- because the rent is too damn low! Jimmy McMillan says he pays $872.96 for a rent-controlled ground-floor apartment on St.
Mortgage Rates Are Great, If You Qualify
Seeded on Mon Jul 11, 2011 12:05 PM EDT (Wall Street Journal)
With interest rates near rock bottom and home prices down, this ought to be a great time to buy a home.
Countrywide Wages Tranche Warfare on Investors
Seeded on Fri Jul 8, 2011 12:03 PM EDT (Bloomberg.com)
Investors who sued over $351 billion in downgraded Countrywide Financial Corp. mortgage-backed securities after the 2007 subprime market collapse may have to settle for less than 1 percent of what they initially sought. U.S.
Some rules for helping your kid buy a house
Seeded on Fri Jul 8, 2011 11:59 AM EDT (msnbc.com)
In some circles, the graduation gift du jour is a Manhattan apartment, according to a recent New York Times story. Note to my kids: Sorry, we are not in those circles. Still, it would be nice.
Storage Wars: Web Growth Sparks Data-Center Boom
Seeded on Thu Jul 7, 2011 5:21 PM EDT (Wall Street Journal)
For years, as Internet use boomed, builders of the giant, air-conditioned computer warehouses known as data centers couldn't keep up with demand.
It's buyers' market for homes, but buyer beware
Seeded on Wed Jul 6, 2011 1:11 PM EDT (msnbc.com)
Why are so few people buying houses? One of the key reasons is falling prices. Although lower prices encourage true bargain hunters to look for deals, they can also scare off homebuyers. And, between the two, anxiety is winning.
Housing experts fear deluge when foreclosure filings start again
Seeded on Tue Jul 5, 2011 11:30 AM EDT (NJ.com)
In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed homeowners in New Jersey.
Foreclosure Backlog Worse Than Ever
Seeded on Mon Jul 4, 2011 12:15 PM EDT (AOL)
In May, according to the real estate data firm RealtyTrac, one in every 605 homes in America received a foreclosure filing. That's 214,927 foreclosures. This is a 33 percent drop from the previous May, and it represents a 42-month low overall.
11-year-old Chatham boy runs own landscaping business
Seeded on Mon Jul 4, 2011 11:44 AM EDT (NJ.com)
On a hot Sunday morning, Robbie Kelly is out tending to his lawn business, mowing grass, whacking weeds, trimming borders along the sidewalk.
N.J. Legislature bill would regulate foreclosure rescue fraud, offer relief to distressed homeowners
Seeded on Mon Jul 4, 2011 11:42 AM EDT (NJ.com)
They call themselves "foreclosure rescue" companies, but in many cases they end up enriching themselves while destroying whatever credit-worthiness a distressed homeowner has. A bill to regulate the industry overwhelmingly passed both the state Senate and Assembly last week an …
Goldman Closes the Door on Subprime
Seeded on Fri Jun 10, 2011 11:30 AM EDT (Business Week)
When Goldman Sachs (GS) bought Litton Loan Servicing, a firm that collects mortgage payments from homeowners, in 2007 for an unannounced price, it seemed like a simple way to get an on-the-ground view of the subprime market.
Americans' equity in their homes near a record low
Seeded on Thu Jun 9, 2011 1:49 PM EDT (Yahoo! News)
Falling home prices have shrunk equity so much that the proportion of their homes that Americans actually own is near its lowest point since World War II. The Federal Reserve says average home equity plunged from more than 61 percent at the start of 2001 to 38 percent in the …
Mortgage Application Volume Down
Seeded on Wed Jun 8, 2011 11:42 AM EDT (Wall Street Journal)
The volume of mortgage applications filed in the U.S.
Weight of book collection damaging house
Seeded on Tue Jun 7, 2011 6:01 PM EDT (United Press International)
The weight of about 350,000 books a Canadian Prairies couple wanted to save from burning is damaging a second house they bought to shelter them, officials say. Shaunna Raycraft and her husband live in the remote town of Pike Lake, Saskatchewan, southwest of Saskatoon.
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Diane Turton Realtors
Member Since: 11/2010Last Seen: 10/27/2011
I was raised in New Jersey, and attended Rider College in Lawrenceville, where I gained a BSc in Commerce, majoring in real estate. From an early age …
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