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News :

Mortgage Rates: Low Mortgage Rates Decrease Again to New Record Lows
FreeRateUpdate.com
Today's Wells Fargo California 30 year fixed mortgage rates are at 3.625% (3.799% APR). MBS prices (mortgage backed securities) are down -3/32 (FNMA 30 yr 3.5 at 104.20). MBS prices affect mortgage rates which move in the opposite direction.

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Foreclosures Hit A Record Low
Daily Markets (blog)
Considerable decrease in hardest hit foreclosure states, such as Arizona, Nevada and California, was the primary reason for the recent fall in overall foreclosure activity, despite a surge in majority of the states. However, the pace of foreclosure ...

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A Window of Opportunity by California Mortgage Expert
SBWire (press release)
Petaluma, California based Mortgage Broker Jehoshua Shapiro, NMLS#275208 says that low rates have created a great opportunity for refinance or purchase, however creeping inflation could create interest rate hikes. Petaluma, CA -- (SBWIRE) -- 05/18/2012 ...



Foreclosures Hit a Record Low - Analyst Blog
NASDAQ
Considerable decrease in hardest hit foreclosure states, such as Arizona, Nevada and California, was the primary reason for the recent fall in overall foreclosure activity, despite a surge in majority of the states. However, the pace of foreclosure ...

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Foreclosures Fall...And That's a Bad Thing?
TheStreet.com
Foreclosure starts, the first stage in the foreclosure process, fell in April in the hardest hit states of California, Arizona and Nevada, according to Foreclosure Radar. California saw the steepest slide, with Notice of Default filings down nearly 16% ...

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Foreclosures Hit a Record Low
Zacks.com
Considerable decrease in hardest hit foreclosure states, such as Arizona, Nevada and California, was the primary reason for the recent fall in overall foreclosure activity, despite a surge in majority of the states. However, the pace of foreclosure ...

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AXcess News

Foreclosures down, short sales up. Are banks getting smart?
AXcess News
Homeowners get to shed their mortgage debt faster - and with less damage to their credit rating. Short sales began outpacing foreclosures in some states late last year. Six states saw more preforeclosure sales - typically, short sales - than ...

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Federal OK gives program more value for families facing foreclosure
The Salinas Californian
Qualified California homeowners have a shot at enhanced state programs that can reduce their mortgage principal by as much as $100000 and pay up to $25000 in late mortgage payments. Thanks to a recent approval from the US Department of the Treasury, ...



Attorney General Kamala D. Harris Joins Central Valley Law Enforcement Leaders ...
Sierra Sun Times
"As the Sheriff of Tulare County, I have seen firsthand the devastating effects of the mortgage crisis, not only in Tulare County but across the State of California. In Tulare County alone, between 2008 and 2011 there were over 11000 foreclosures.

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Mortgage foreclosures dropping nationwide; good news for Maine
Bangor Daily News
?Our preliminary first-quarter sales data shows that pre-foreclosure sales ? typically short sales ? are on pace to outnumber sales of bank-owned properties during the quarter in California, Arizona and 10 other states.? After three straight monthly ...

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U.S. News & World Report (blog)

Home Prices Improve (Slightly) in Battleground States
U.S. News & World Report (blog)
Some of those states also happened to be the hardest hit by the housing and foreclosure crises, which left deep economic and social wounds that are still healing today. Back then, battleground states such as Nevada, Florida, Michigan, ...



Mortgage foreclosures are lowest since 2008
Daily Breeze
By Ruth Mantell MarketWatch WASHINGTON - The proportion of mortgages in the foreclosure process or at least one payment past due has fallen to the lowest combined rate since 2008, the Mortgage Bankers Association said Wednesday in its delinquency ...

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Washington Attorney General Announces Free Help for Homeowners Facing Foreclosure
LoanSafe
Young today joined Washington State Attorney General Rob McKenna at SNAP (Spokane Neighborhood Action Partners), a non-profit that provides services to low-income residents, including homeowner counseling services that help borrowers avoid foreclosures ...

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Massachusetts House of Representatives Advances Foreclosure Legislation
JD Supra (press release)
by Mintz Levin on 5/18/2012 The Massachusetts House of Representatives yesterday unanimously passed House Bill 4087, ?An Act to Prevent Unlawful and Unnecessary Foreclosures.? The bill is designed to get ?borrowers and lenders to the table,? according ...

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The Annex fetches $2.5M at auction
Atascadero News
ATASCADERO ? The Annex project site has sold at auction for $2.5 million to Montecito Bank and Trust, the same bank that foreclosed on the property. The auction was held May 8. According to the website of Woodland Hills-based Asset Foreclosure Services ...



Sun-Sentinel (blog)

Terrell Owens facing foreclosure on South Florida condo
Sun-Sentinel (blog)
By Paul Owers May 18, 2012 02:19 PM Deutsche Bank is going after the temperamental wide receiver, saying he isn't paying the $1.4 million mortgage on his Trump International Beach Resort condo in Sunny Isles Beach, reports Gossipextra.com.

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Golden Sands Canyon Ranch project faces foreclosure
South Florida Business Journal
Foreclosure Roundup is hitting the beach this week, first with two hotels and a stalled condo project in Miami Beach, and then to a retail strip in coastal Pompano Beach. An affiliate of Lehman Brothers wants to seize the site where WSG Development Co.



Super-PAC Feeds Romney Words
Bloomberg
?Don't try to stop the foreclosure process. Let it run its course and hit the bottom.? The day was barely half finished before the super-PAC launched the response to Romney's morning ad, airing in a few critical swing states with promises about his ...

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Tiny Dynamite, By "Iron Lady" Screenwriter Abi Morgan, Will Play Off-Broadway
Playbill.com
The three-person cast includes Blake DeLong (Taboos at SoHo Playhouse); Olivia Horton (Foreclosure at Playwrights Horizons) and Christian Conn (Broadway's Desire Under the Elms). Tiny Dynamite has set and lighting design by Maruti Evans, costume design ...



WSJM

Berrien County Tax Foreclosures Falling
WSJM
Tax foreclosures in Berrien County are on the decline, and dramatically so. County Treasurer Bret Witkowski tells WSJM says they continue to work with people who are behind on property taxes to get them into payment plans that work for their budget and ...


News :

Homeowners In 17 States Getting Shaft In Mortgage Settlements
Lez Get Real
South Dakota's $2.88 million will be used to ?enact regulations.? Among the things this money was intended for was counseling for homeowners, funds to pursue investigations into mortgage foreclosure activities, and assistance in refinancing.

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This Subprime Bubble Will Burst In State Court
Mondaq News Alerts (registration)
In support of their argument, the defendants submitted the declaration of an operations analyst of the South Dakota citizen who asserted that the total unpaid principal on the outstanding mortgage loans at issue was well in excess of $5 million.

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NOTICE OF MORTGAGE FORECLOSURE SALE
Rapid City Journal
SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY, Plaintiff, vs. Almeda Cassidy, Rebecca S. Eastman, and Butte County, South Dakota, Defendants. Lot 3 of Block 3 tof Willow Creek Estates No. 4, a Subdivision of Part of Lots P & Q of Valley View Addition, ...

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South Dakota Tries To Avoid Oil Boom's Downside
WBUR
ELLENBOLT: Because of the oil boom, western North Dakota is experiencing major housing shortages and increased crime activity, issues South Dakota officials would like to avoid. In Williston, North Dakota, rent and mortgage costs have sky-rocketed.

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South Dakota Tries To Avoid Oil Boom's Downside
NPR
ELLENBOLT: Because of the oil boom, western North Dakota is experiencing major housing shortages and increased crime activity, issues South Dakota officials would like to avoid. In Williston, North Dakota, rent and mortgage costs have sky-rocketed.

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Wyo ranks low for mortgage delinquencies
Casper Star-Tribune Online
Wyoming was in the lowest tier of states for mortgage delinquency rates in the first quarter, according to credit bureau giant TransUnion. Wyoming registered the fourth lowest rate at 2.43 percent, behind North Dakota (1.51 percent), South Dakota (2.11 ...

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Obama asks Congress to act on 'to-do' list
1340 WGAU
AP President Barack Obama greets supporters after speaking about mortgage relief, Friday, May 11, 2012, in Reno, Nev. (AP Photo/Pablo Martinez Monsivais) The Associated Press President Obama is asking Democrats and Republicans to act on his "to-do ...

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Obama asks Congress to act on 'to-do' list
WSB Atlanta
AP President Barack Obama greets supporters after speaking about mortgage relief, Friday, May 11, 2012, in Reno, Nev. (AP Photo/Pablo Martinez Monsivais) The Associated Press President Obama is asking Democrats and Republicans to act on his "to-do ...

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Obama asks Congress to act on 'to-do' list
WOKV
AP President Barack Obama greets supporters after speaking about mortgage relief, Friday, May 11, 2012, in Reno, Nev. (AP Photo/Pablo Martinez Monsivais) The Associated Press President Obama is asking Democrats and Republicans to act on his "to-do ...

and more »


Obama asks Congress to act on 'to-do' list
WPXI Pittsburgh
AP President Barack Obama greets supporters after speaking about mortgage relief, Friday, May 11, 2012, in Reno, Nev. (AP Photo/Pablo Martinez Monsivais) The Associated Press President Obama is asking Democrats and Republicans to act on his "to-do ...

and more »


International Business Times

Ireland May Need Second Bailout: Report
International Business Times
Deutsche Bank also cited Ireland's shaky mortgage sector. "Although resilient during 2009 and 2010, mortgage arrears have risen sharply over the past year, house prices are continuing to fall, market liquidity is limited, and over half of customers are ...

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Esquire

Sports Cars for the Rest of Us
Esquire
A few decades ago, you could buy a fun, stylish sports car without taking out a second mortgage. Now you can again. By Sam Smith I was once lucky enough to drive a 1970 Ferrari 246 Dino. It was a singular experience, the kind of eye-opening life ...

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Consumer Credit Default Rates Continue to Decrease Into the Year of 2012
LoanSafe
The first mortgage default rate decreased from March's 1.88% to April's 1.76%. The second mortgage default rate also declined from 1.03% in March to 0.93% in April. Auto loans default rate hit its lowest in its eight year history ? 1.07% in April down ...

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Principal Reductions Won't Solve the Mortgage Mess
Brookings Institution
Similarly, better coordination of information regarding second liens would facilitate some modifications that are dependent on bargaining between owners of the primary mortgage and second lien. As the housing adjustment continues, we should avoid ...

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Irish Banks May Tip Ireland Into Second Bailout, Deutsche Bank Says
Moneynews
The government's plan for new personal insolvency laws introduces risks even as politicians and the financial regulator seek to avoid widespread residential mortgage debt forgiveness, Deutsche Bank said. ?Although resilient during 2009 and 2010, ...

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Central Valley has some of the nation's most affordable homes
Central Valley Business Times
Nationwide housing affordability hit a new record high for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders and Wells Fargo Bank. But tight lending conditions continue to pose a ...

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Irish mortgage lending falls 30 pct in Q1
Reuters
| DUBLIN May 18 (Reuters) - The value of new mortgage lending in Ireland fell by 30 percent in the first three months of 2012 compared with the previous quarter and is now just over one-third of the level seen two years ago, data showed on Friday.

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AMI predicts flat mortgage market for next three years
Mortgage Finance Gazette Online
AMI's Quarterly Economic Bulletin, which focuses on the UK economy, housing and mortgage market, notes that the UK officially slipped back into recession in the second quarter of this year. The economy paints a mixed picture on GDP and while many ...

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Nationwide bucks tough mortgage lending trend
Aol Money
Today Nationwide announced it is cutting some its mortgage rates and fees. So is there any chance other lenders may follow suit? Today Nationwide announced that it has cut the cost of some deals for the second time this month, this time on all its two- ...

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Irish Times

Ireland 'may need' second bailout
Irish Times
The government's plan to introduce new personal insolvency laws creates "risks", even as politicians and the financial regulators seek to avoid widespread residential mortgage debt forgiveness, the bank said. "Although resilient during 2009 and 2010, ...

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