It’s been a year since the government’s Home Affordable Modification Program (HAMP) was implemented and only 170,207 troubled homeowners have received permanent loan restructurings. The number of modifications in thepermanent column did increase 45 percent from 116,297 in January, but it’s still a mere drop in the bucket when you ...
As one of the nation’s largest mortgage servicers, CitiMortgage is still contending with a deluge of foreclosures that just doesn’t seem to be abating, despitestepped up mitigation efforts and government relief programs. On Thursday, the company announced a new pilot initiative that will allow distressed CitiMortgage borrowers to avoid foreclosure ...
One of America’s largest homebuilders is getting into the loan restructuring business. Lennar Corporation said Wednesday that it has purchased two loan portfolios from the FDIC with a combined unpaid balance of $3.05 billion. Lennar paid $243 million for the portfolios, which include 5,500 distressed residential and commercial real estate ...
Charlotte area home sales, prices up again Charlotte By Stella M. Hopkins shopkins@charlotteobserver.com Posted: Wednesday, Feb. 10, 2010 The Charlotte-area housing market continued posting gains in January, with home prices and sales now showing several months of steady increases. The average sales price last month was $200,592, up 6.1 percent ...
The House Committee on Oversight and Government Reform has launched an official investigation into the federal government’s foreclosure prevention program. According to a statement from the head of the committee, the probe was triggered by complaints that servicers have been slow and inconsistent in modifying loans under the Making Home ...
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