Foreclosure News

Bank of America has been sued by the Los Angeles city attorney, joining Citigroup and Wells Fargo as defendants in lawsuits charging they caused a "wave" of home foreclosures that cost the City of Los Angeles more than $1 billion dollars and depressed local tax revenue, a spokesman said Saturday.

To help the economy, the Federal Reserve should begin raising rates immediately and bring its preferred policy rate, the federal funds, to a more neutral stance.

More than half a decade into the foreclosure crisis and the big banks still haven't cleaned up their act, according to a new administrator's report.

Up to 30,000 home owners are believed to be taking advantage of a ban on foreclosures designed to protect mortgagors who have been unable to pay their loans since the economy went into freefall, Kathimerini understands.

Thomas H. Dickenson, substitute trustee, to Citizens Bank and Trust Co. of Grainger County, in Mari Ben Acres subdivision, $140,000.

Five years out from the financial collapse, one would almost expect that we wouldn't still routinely be finding out about ways in which banks like Goldman Sachs and Bank of America manipulated financial markets in order to essentially pillage the American economy.

When Nouvelle was first marketed in 2007, some units sold for as much as $1.6 million.

According to Zillow.com, total home sales in Georgia were up 25.5 percent over the same period in 2012.

In one of the hottest years on record for Orlando-area home prices, an unlikely mix of communities - Maitland , Pine Hills , Oviedo and Bithlo - has had the biggest gains.

It was reported in the news last week that the federal government settled a case against JP Morgan for its role in the mortgage disaster that is still plaguing the country and affecting so many former homeowners.

"We gotta beat back the bank attack!" chanted homeowner Janie Mair and her supporters from SAFE this evening, outside the Bank of America branch on Beacon Hill.

Sens. Tim Johnson and Mike Crapo , the leaders of the Senate Banking Committee, have asked fellow lawmakers engaged in negotiations over a budget deal not to raise loan-guarantee fees charged by Fannie Mae Congressional negotiators have been trying to reach a small-scale budget agreement to avoid future showdowns over fiscal issues that resulted in ... (more)

The Los Angeles city attorney is suing Bank of America for mortgage discrimination it claims led to a wave of foreclosures that cost the city a fortune in extra expenses and lost taxes.

The number of homes on the auction block is on the rise, as homes that began foreclosure proceedings years ago finally come up for sale.

Sanders Walker had been working for 13 years at a BWAY Corp factory in Macon, Georgia, when the word came down one September 2011 morning: The company, a maker of plastic and metal containers, was closing the plant.

A tax break for struggling mortgage borrowers ends Jan. 1 and that could mean big tax bills -- and financial hits for their neighbors.

Lafayette-based IberiaBank was shouldered with problem real estate loans when it entered the Florida market, and it shed a high-profile portion of the debt in a recent real estate sale.

In complaints filed in the U.S. Federal Court, LA City attorney Mike Feuer said that Citigroup and Wells Fargo "engaged in a continuous pattern and practice of mortgage discrimination in Los Angeles since at least 2004 by imposing different terms or conditions on a discriminatory and legally prohibited basis."

They claim Wells Fargo & Co. and Citigroup Inc. first refused to grant mortgages in minority neighborhoods - a practice known as redlining - then later targeted minority consumers for predatory loans.

The Los Angeles city attorney sued Wells Fargo and Citigroup on Thursday, alleging the companies engaged in mortgage discrimination that led to a wave of foreclosures in minority communities during the housing crash.