Foreclosure News

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.

A new report from RealtyTrac revealed that overall foreclosure activity was down a sharp 23% year-to-date through October, but it's a different story for the priciest properties nationwide.

The American Civil Liberties Union has sued the Federal Housing Finance Agency, asking it to disclose efforts to stop municipalities from using eminent domain to bail out underwater homeowners and make its dealings with the financial industry more transparent.

Faced with a sharp increase in the number of tax acquired properties, the selectmen on Monday adopted a policy to guide the process of disposing of those properties.

The American Civil Liberties Union has sued a federal agency, asking it to disclose efforts to stop municipalities from using eminent domain to bail out underwater homeowners.

Outplacement firm Challenger, Gray and Christmas says its monthly survey of employers found they planned to cut 45,314 workers from their payrolls in November, just 0.9 percent less than a month earlier.

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Real estate is in my blood. My first job, when I was 8 years old, was working for my grandfather rehabbing single-family homes and small apartment buildings for his one-man investment company.

An economic researcher said Wednesday that Arizona's economy is expanding at a slow but steady pace with population and employment growth rates that outpace most other states.

The nation's largest loan servicers and the HW 30 finished the Wednesday trading day higher despite major headwinds from regulators and a new report suggesting ongoing servicing issues at the banks.

There is no greater hindrance to an economic quagmire that the US is currently in than the un affordability of home ownership .

Foreclosed Upon Pets International has flown more than 1,000 dogs to Canada in the past two and half years The pet charity was started by Las Vegas-native Everett Croxson after he discovered the city had a huge amount of unwanted animals Pono, a three-year-old male Pomeranian mix, became the 1,000th dog sent north of the border and has quickly been ... (more)

It's not just the lower classes that continue to get hit hard by foreclosures in Miami.

According to RealtyTrac, although overall foreclosure activity in America is down 23 percent year-to-date through October 2013, but foreclosure activity on homes $5 million and up has skyrocketed 61 percent from the same time period in 2012.

Two Florida cities lead the nation in foreclosures of high-end properties worth $5 million or more.

Top U.S. banks including Bank of America and Citigroup Inc failed to comply with some provisions of a government settlement to improve mortgage servicing practices, a monitor of the settlement said on Wednesday.