Tag Archives: foreclosure

Abuse Of Foreclosures Increasing Across America

USA Foreclosures 101

According to experts and officials who have conducted research across America, foreclosure abuse is now becoming rampant. This story comes out of a report conducted by the California city of San Francisco which revealed that foreclosure abuse was widespread. Of the 400 foreclosures which were audited for the report, 84% of them were apparently illegal. Many experts are now assuming that the figures revealed in San Francisco are also reflective of the true state of … Continue reading →

New York Joins Other States To Move Foreclosures Along

USA Foreclosures 101

Frustrated by long delays and the seeming inability of mortgage lenders to complete the loan modification process, New York State’s courts are adopting new procedures that would allow judges to exercise more control over individual foreclosures. The measures are expected to help speed up the foreclosure process by forcing lenders to either modify loans according to the law or complete the foreclosure altogether. New York joins 19 other states taking similar measures to help bring … Continue reading →

Foreclosure Problems Not Entirely The Fault Of Banks

USA Foreclosures 101

If nothing else, the recent settlement between 49 state attorneys general and five of the nation’s largest mortgage lenders has exposed many weaknesses in the current system of mortgage lending and foreclosures. However, it’s important that both consumers and the media refrain from jumping on the banks and blaming them exclusively. They certainly do own their fair share of the blame here, but we cannot leave out the responsibility of consumers and the federal government. … Continue reading →