Foreclosure News

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.

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.