Mortgage, Real Estate, US Real Estate

Bank of America in $30,000 Short Sale Incentive

By Mike Wheatley | May 17, 2012
As part of its efforts to reduce the number of foreclosures on its books, the Bank of America is offering relocation payments of up to $30,000 to struggling homeowners to induce them to agree to a short sale.
Mortgage, Real Estate, US Real Estate

BoA Launches Mortgage to Lease Program

By Mike Wheatley | March 26, 2012
Last week, Bank of America announced that for a select group of homeowners currently facing foreclosure, they would have the option to remain in their homes after all. The catch? They don’t actually get to keep their homes… they have to rent it from the bank instead.
Featured News, Mortgage, Real Estate, Residential, US Real Estate

Fannie and Freddie Mortgage Write Downs - Another Bailout For Big Banks

By Donna S. Robinson | March 26, 2012
Fannie and Freddie regulator Edward DeMarco, the acting Director of FHFA, is taking a lot of heat for his reluctance to write down first mortgages for underwater homeowners. But DeMarco is rightly pointing out that the push to write down the first mortgages is merely a form of protectionism for the four largest banks in the U.S. - JP Morgan Chase, Wells Fargo, Citigroup, and Bank of America.
US Real Estate

The $26 Billion Foreclosure Settlement: Who Won? Who Lost?

By Guest Author | February 19, 2012
A consortium of the Department of Justice and the Attorneys General of every state other than Oklahoma recently announced a $26 billion settlement with the five largest new mortgage and home mortgage refinance lenders to settle claims related to improper foreclosures. Although it has been hailed as a significant victory for consumers and has been compared to the landmark $206 billion 1998 tobacco settlement, the details of the agreement paint a different picture.
Mortgage, Real Estate, Residential, US Real Estate

US Banks Agree Foreclosure Settlement Worth $26 Billion

By Mike Wheatley | February 9, 2012
The US government has just announced a deal with five of the country’s biggest banks that will see homeowners given more than $25 billion as part of a settlement over foreclosure abuses.
Mortgage, Real Estate, Residential, US Real Estate

Foreclosure Settlement between Banks and Government “Very Close”

By Mike Wheatley | January 19, 2012
As many as one million underwater borrowers deemed to be “at risk” of losing their homes could be set for a reprieve through a reduction on their mortgage principle, following reports that the government and America’s biggest banks have nearly reached a deal on mortgage aid.
Real Estate, US Real Estate

Mixed Response to Short Sale Cash Incentives

By Mike Wheatley | January 6, 2012
A number of real estate professionals have said that cash-back incentives designed to tempt delinquent borrowers into a short sale rather than foreclose on their homes are proving to be ineffective, because lenders aren’t clear on who can qualify for the scheme

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