As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process.
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After falling 19 percent in January, foreclosures continued to fall in February with filings dropping 8 percent last month, according to RealtyTrac’s latest report. The big drops in foreclosures have served as a hopeful sign in the housing market that the foreclosure crisis was finally fading.
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About 22 percent of home owners nationwide are considered “underwater,” owing more on their mortgage than their home is currently worth, according to recent CoreLogic data. Some states are seeing a higher number of underwater mortgages than others too.
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A real estate agent was preparing to show a vacant home to a family in Gary, Ind., when the home exploded, seriously injuring the agent.
Patricia Conforti, 51, an agent with RE/MAX Integrity Group in Merrillville, Ind., was rushed to a hospital.
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More than 70 percent of home owners are unaware of government mortgage modification programs to help underwater borrowers, according to a new survey by FreeScore.com, an online credit servicer.
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