MORTGAGE FRAUDReports of mortgage fraud in 2008 rose by 26 percent nationwide compared to the prior year, according to the Mortgage Asset Research Institute. Among the 50 states, Rhode Island ranked first for mortgage fraud last year, bumping Florida to second place.Read the full story:http://www
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03/17/2009
The nonprofit Neighborhood Assistance Corp. of America is taking its "Save the Dream Tour" across the U.S. to help at-risk homeowners find ways to lower their mortgage payments. The free counseling service has plans to visit Florida.Read the full story:http://www.floridarealtors.org/NewsAndEvents
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03/16/2009
MORTGAGE MODIFICATIONSKey Democratic lawmakers are courting support from the financial services industry, including credit unions, for legislation that would allow bankruptcy judges to modify mortgages. The provision passed the House last week but has not been scheduled for a Senate vote.Read the
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03/13/2009
There are would-be home buyers out there who are ready and able but not willing, because they're afraid prices will go lower. "But what if those buyers had insurance policies that would protect them if their homes lost value?" asks the chairman of Move, Inc.Read the full story:http://www.floridar
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03/12/2009
PROPERTY INSURANCEIf Insurance Commissioner Kevin McCarty has his way, the Florida Legislature will ban the use of certain criteria in determining insurance rates, including profession, education, credit score and other circumstances beyond an applicant's control.Read the full story:http://www.fl
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03/11/2009
LOAN MODIFICATIONSAfter the Obama Administration announced its $75 billion housing program, many homeowners had a simple question: "Do I qualify for a lower mortgage interest rate?" HOPE NOW, an alliance between HUD and others, announced a single application form that can be filled out online to
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03/10/2009
The economy isn't really that bad. At the height of the boom, many people thought the party could never end, a term economists call "irrational exuberance." Today, however, many people have "irrational pessimism," or a fear that things will continue to get worse. Those people were wrong before, a
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03/09/2009
FORECLOSURESNew data shows that nearly 12 percent of all Americans with a mortgage - a record 5.4 million homeowners - had at least one late mortgage payment at the end of 2008, including a number of Florida homeowners.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-030609.cfm
03/06/2009
A large number of bargain-priced foreclosure sales are skewing home price statistics, according to Radar Logic. While home sales rose 7 percent in 2008, for example, the number of foreclosures rose 177 percent and the number of "normal" sales fell 17 percent. About one-third of all sales involved
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03/05/2009
MORTGAGE FRAUDComplaints from Floridians about fraudulent mortgage schemes and questionable foreclosure-rescue services were the most common concerns reported to state regulators in 2008, according to a report released Monday by Florida Attorney General Bill McCollum.Read the full story:http://ww
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03/04/2009
