Day: June 3, 2012
Military Gets House Support on Foreclosure Protection
The House of Representatives voted overwhelmingly to approve broader foreclosure protection for military servicemembers in an amendment to a military spending bill. The amendment will extend a stay against foreclosure from nine months to 12 under the Servicemembers Civil Relief Act (SCRA). The proposed expanded SCRA would encompass disabled vets, spouses of fallen servicemembers and… Continue Reading
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Pending Expiration Fuels Strategic Defaults
The current Mortgage Debt Relief Act of 2007 is set to expire on December 31 of this year. While there is a bill in the House that would extend it to 2015, homeowners are getting twitchy. So much so, in fact, that according to YouWalkAway.com, a foreclosure prevention agency, conducted a survey of borrowers and… Continue Reading
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10% of Homeowners Are 90+ Days Delinquent
According to Zillow, 10% of all homeowners are 90+ days delinquent on their mortgage payments. That equals out to owing $1.2 TRILLION more than the value of the homes. It’s a staggering number. Over 30% of homeowners owe more than their house is actually worth, making them “underwater.” Zillow’s data covers nearly all mortgaged homes… Continue Reading
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