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This Democrat Is Giving Up on ObamaCare

By:Burke Beu

Las Vegas Suburb Launches Foreclosure Registry

City officials in the Las Vegas suburb of Henderson, Nevada, have announced the launch of a foreclosure registry in order to help monitor the number of abandoned residential properties in the area from falling into disrepair or becoming blighted.

The goal of the registry is to urge the owners of homes that have either been abandoned or are at risk of being abandoned due to foreclosure to perform maintenance and upkeep on them so that the homes do not fall victim to blight, squatters, or vandals.  Read More

Detroit ‘Blight Bundle’ Buyer Withdraws Offer

Earlier this week, real estate developer Herb Strather withdrew his offer to buy a bundle of more than 6,000 blighted properties in Detroit for slightly more than $3.1 million, Wayne County officials announced.

Wayne County officials confirmed through discussion with John Page of Eco Solutions, the registered bidder and Strather's partner in the deal, earlier this week that the offer had been withdrawn.

Strather had been meeting with casino online county officials on a developing plan for the properties, but the two parties were unable to come to an agreement. Strather had reportedly hoped to receive federal funding from the Detroit land bank to demolish the worst properties in the bundle while keeping the best properties for his own investment purposes, but that plan fell through when it was discovered the land bank would pay to demolish only those properties it owns and would not do so for the profit of private investors.  Read More

Republicans Expected to Use New Majority Power to Push for CFPB Overhaul

The U.S. Midterm Elections have been over for less than a week, and already Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to make – the Consumer Financial Protection Bureau (CFPB).

Republicans have hinted, some not-so-subtly, that the Bureau is in need of reform, and they intend to do just that now that they have a majority in both the House and the Senate. It is widely speculated that financial regulation overhaul, which includes the CFPB and the Dodd-Frank Wall Street Reform and Consumer Protection Act, along with Obamacare will be two issues Senate Majority Leader Mitch McConnell (R-Kentucky) and Senate Banking Committee Chair Richard Shelby (R-Alabama) will go after first when they take their new seats in January.  Read More

Real Estate Developer Pays $3.1 Million for Blighted Property Bundle In Detroit

Wayne County, Michigan, sold a bundle of more than 6,000, distressed and blighted properties to a single bidder for more than $3 million in the county's tax foreclosure auction earlier this week, according to Wayne County Chief Deputy Treasurer David Szymanski.

Eco Solutions, the party that made the winning bid, was represented by Detroit-area casino developer Herb Strather. For the sum of slightly more than $3.1 million, Eco purchased a package of 6,365 parcels from Wayne County in the auction, an average of close to $500 per parcel.  Read More

Serious Delinquencies Decline by 21 Percent in September

The number of seriously delinquent mortgage loans, which are those that are more than 90 days past due or in foreclosure, dropped nationwide by 21 percent year-over-year in September, according to CoreLogic's September 2014 National Foreclosure Report released on Wednesday.

While the number of seriously delinquent mortgages continues to decline, CoreLogic's chief deputy economist, Sam Khater, said that the rate of decline has slowed; every month from October 2013 to July 2014, serious delinquencies declined nationwide by at least 25 percent with a high of 25.9 percent in June 2014, according to CoreLogic.  Read More

Servicer Takes $100 Million Charge for Potential Settlement Over Backdated Foreclosure Notices

Ocwen Financial, the nation's top non-bank mortgage servicer, announced Thursday that the company has taken a $100 million charge for a potential settlement regarding claims that Ocwen sent backdated foreclosure notices to thousands of borrowers.

New York's Financial Services Superintendent, Benjamin Lawsky, sent a letter to Ocwen on October 21 stating that an investigation of Ocwen's servicing practices revealed that the company sent backdated notices of foreclosure to about 7,000 borrowers after the payment deadline had passed. Lawsky's office just concluded a year-long investigation after the backdated foreclosure issue was first brought to light.  Read More

Fed Announces End of QE3 Asset Purchase Program

The Federal Open Market Committee (FOMC) of the Board of Governors of the Federal Reserve System announced today that its asset purchase program, known as QE3 (quantitative easing), will end this month, citing sufficient economic growth.

Following months of speculation of the end of the program, Fed made the announcement in today's FOMC statement, following the FOMC's seventh of eight meetings this year. Unlike the Fed's first two QE programs, which were launched in 2008 and 2010, QE3 allowed for the unlimited purchase of mortgage-backed securities; the Fed planned to continue the stimulus program until the economy was deemed healthy enough.  Read More

Distressed Homes Discount Averages 37 Percent in September

Distressed residential properties had a median sales price of 37 percent below the median sales price of non-distressed properties nationwide in September, according to RealtyTrac's Q3 2014 Residential and Foreclosure Sales Report released Tuesday.

The median price casino online of distressed residential homes, which are those in foreclosure or owned by banks when sold, was reported at $130,000 nationwide for September, compared to the median price of $205,000 for non-distressed homes during the month, according to RealtyTrac.  Read More

Percentage of Short, Distressed Sales Falls to Three-Year Low

Short sales and sales of distressed properties (those that are in foreclosure or bank-owned) accounted for 12.7 percent of all residential home sales in the U.S. in the third quarter, their lowest level since Q1 2011, according to RealtyTrac's Q3 2014 Residential Sales Report released today. The report marks the latest in a series of encouraging signs suggesting that the housing industry is continuing its steady climb towards a full recovery.  Read More

Index Points to Moderate Economic Growth For Remainder of 2014

A gauge of leading economic indicators in the United States showed solid growth in September, suggesting moderate economic expansion to finish out the year.  The Conference Board's Leading Economic Index, a measure of economic developments as an indicator of future trends, increased 0.8 percent justin-bieber-news.info albumsIt seems, Selena Gomez and justin-bieber-news.info albums really can go forever. last month to 104.4 following a downwardly revised August reading that showed no change.

The index tracks a handful of component indicators, including labor market conditions, housing construction activity, and credit conditions.  Read More

Same Three States Top Negative Equity List in Q3 for Fourth Straight Quarter

Nevada, Florida, and Illinois were the top three states in negative equity for residential properties in the third quarter of 2014, marking the fourth consecutive quarter those three states led the nation in that category, according to RealtyTrac's Home Equity & Underwater Report for Q3 2014 released Thursday.

Florida, which also has the nation's highest foreclosure rate, came in second among states with a negative equity rate of 28 percent. Illinois was third with 26 percent. Michigan (25 percent) and Rhode Island (22 percent) rounded out the top 5, according casino spiele to RealtyTrac.  Read More

Fannie Mae Expects Slow But Sure Housing Growth in 2015

Where the U.S. housing market is concerned, Fannie Mae chief economist Doug Duncan said he is anticipating overall weaker home sales in 2014 than in 2013. But he expects that overall home sales in 2015 will post their best performance since 2007 despite seeing only moderate growth for the year.

The forecast on the state of the nation's housing market and on the overall economy were included in the Fannie Mae Economic & Strategic Research Group's October 2014 Economic Outlook, published on Thursday.  Read More

Seriously Underwater Mortgage Rate Sinks to Lowest Level in Two Years

The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the previous quarter, falling to the lowest level in more than two years, according to RealtyTrac's Q3 2014 Home Equity & Underwater Report released Thursday.

RealtyTrac reported that 8.1 million U.S. homeowners, representing 15 percent of all mortgages in the country, were seriously underwater on their mortgage in Q3, the lowest percentage of underwater mortgages nationwide since RealtyTrac began tracking the data in Q1 2012. For a mortgage to be considered seriously underwater, the combined loan amount secured by the property must be at least 25 percent higher than the property's estimated market value.  Read More

‘King of Foreclosures’ Arrested, Charged with Bankruptcy Fraud

A Wisconsin man once known as the "king of foreclosures" and his adult son were arrested at their home Monday and charged with bank fraud and bankruptcy fraud.  Todd Brunner, 57, and his son, Shawn, 24, were arrested in their Pewaukee, Wisconsin, home Monday morning after the U.S. Marshals, the FBI, Waukesha County sheriff's deputies, and Pewaukee police broke down their door. Authorities said the two men did not resist arrest.  Read More

Survey: 87 Percent of U.S. Homes are Occupied

About 87 percent of the 133 million total residential housing units in the U.S. in 2013 were reported to be occupied, according to the findings of the 2013 American Housing Survey (AHS) released earlier this week by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.  Read More
 

Report: Tampa Area Accounts for 3.3 Percent of Nation’s Foreclosure Completions

Foreclosure inventory was down in the Tampa, Florida, area in August but the area still led all core-based statistical areas (CBSAs) nationwide in foreclosure completions over a 12-month period, according to data recently released by CoreLogic.  Read More
 

Ohio landlord ordered to pay for lead removal in dozens of rental unit

EAST PRICE HILL, OH  - A Cincinnati landlord has reached a settlement with the federal government to remove lead from more than 200 rental units.  Most of those units are scattered over East Price Hill, but the government says tenants were not told their homes may contain the dangerous material.

Under the settlement Meyer management has to clean up lead-based paint hazards in 136 properties. That's $350,000 in lead abatement work plus the company has to pay $7,500 in penalties.  FOX19 NOW reached out to the owners of Meyer Management. They declined to go on camera, but say they give every tenant a copy of a lead information pamphlet published by the EPA and there is a lead disclosure clause in every tenant's lease.   Read More

Daytona rental inspection law gets addition

DAYTONA BEACH — Six weeks after the city was hit with a federal civil rights lawsuit alleging its 2-year-old residential rental inspection program is unconstitutional, city commissioners have OK’d a change to the city code governing that program.

The code now spells out that if property owners or their tenants don’t consent to a city check of the rental unit, then city officials will obtain an inspection warrant from a circuit judge before attempting to get on the property.  Read More

Eliminating Fannie Mae, Freddie Mac Would Save Billions

The Congressional Budget Office (CBO) released a cost estimate on Friday for S. 1217, a senate bill proposed June 2013 by Senator Bob Corker (R-Tennessee) that would eliminate GSEs Fannie Mae and Freddie Mac and replace them with a private insurance company system with a government backstop. According to the newly-released estimate, removing the two GSEs would save the government billions of dollars in the next 10 years.  Read More

Analyst Warns of Potential Mortgage Crisis

With the Federal Reserve on track to end its monthly bond purchases (currently at a rate of $25 billion and falling), Bove cautions that the loss of one of the tools used to help lift housing out of its post-recession rut could hurt the market, especially as interest rates start to tick back up.  Read More
 

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