Archive for November, 2011

Weekly Fraud Alert: Online mortgage modification scams

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) recently announced that it has shut down 85 alleged online mortgage modification scams that prey on vulnerable homeowners through Web banners and other Web advertisements. SIGTARP investigates mortgage modification schemes in which companies charge struggling homeowners a fee in exchange for […]

Delinquencies Decrease, Foreclosures Rise in Latest MBA Mortgage Delinquency Surve

  WASHINGTON, D.C. (November 17, 2011) — The seasonally adjusted delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 7.99 percent in the third quarter of 2011, according to data from the Mortgage Bankers Association’s (MBA) National Delinquency Survey. This is the lowest level recorded since the fourth quarter of 2008. The third […]

Foreclosure activity increases in October

Foreclosure filings increased 7 percent compared with September, according to the latest report from RealtyTrac. Including notices of default, scheduled auctions, and bank repossessions – of which all increased month-over-month – filings were reported on 230,678 U.S. properties in October. Defaults in California, Florida, and Michigan all rose to their highest levels in at least […]