Finance Homeowners

San Bernardino County Rejects Eminent Domain

More than seven months after announcing it was entertaining a proposal to use eminent domain to acquire underwater mortgages to help stabilize the local housing market, a San Bernardino County joint powers authority on Thursday rejected the proposal.


Perez v. Perez: Developer Testifies in Vizcayans Lawsuit

His company on trial over its tactics in a controversial condo project, Jorge Perez, the celebrated developer, found himself on the witness stand Monday answering to an unexpected foe: Jorge Perez, the author.


Foreclosure Rates Continue to Drop in Central California

In line with a valleywide trend, foreclosure rates in Merced County continue to drop. Last year, 1,039 homes were lost to foreclosure, the lowest total since 2007, according to statistics from DataQuick.


San Bernardino Co. Rejects Eminent Domain for Underwater Mortgages

More than seven months after announcing it was entertaining a proposal to use eminent domain to acquire underwater mortgages to help stabilize the local housing market, a San Bernardino County joint powers authority on Thursday rejected the proposal.


Foreclosures Down Sharply in Southern California

Foreclosure activity sank to its lowest level in six years in California and the Southland during last year's fourth quarter, reflecting an improving economy.


Existing Home Sales Slid in December

U.S. sales of existing homes slowed in December, but were up from December 2011 and total sales for 2012 reached a five-year high, a trade group said Tuesday.


Foreclosure Filings Fell 3.8 Percent in 2012

Foreclosure filings against 1.8 million houses across America, including the Inland region, fell 3 percent in 2012 and is down more than 36 percent from the 2010 peak, a year-end report from RealtyTrac said.


Friday Is Deadline to Apply for Part of $25 Billion Mortgage Settlement

A Friday deadline is looming for Illinois homeowners to file for claims as part of the $25 billion national mortgage foreclosure settlement that was announced last February.


Gov. O'Malley Seeks to Expand Affordable Housing Program

The Rental Works Housing initiative was launched last year with $17.5 million, which can be lent to developers to finance construction or rehabilitation of homes for working families, senior citizens and people with disabilities.


Expect Delays on Tax Refunds

For some taxpayers, necessary tax forms won't even be available until February or even March, pushing refunds months further out.


Lenders Feeling at Home with New Regulations on Mortgages

Lenders had warned that any rule opening them to further litigation by delinquent borrowers would stifle the already lethargic market for new home loans.


Banks Applaud New Mortgage Rules

Banks and other lenders gave a strong initial review to new rules released by the Obama administration Thursday that protect them from frivolous lawsuits if they follow strict standards for making mortgages that ensure borrowers have the ability to repay.


Long-term Mortgage Rates Rise in Week

Long-term U.S. mortgage rates rose in the week ending Thursday, climbing further away from recent record lows, the Federal Home Loan Mortgage Corp. said.


Mortgage Lending Rules to Limit Loan Options

For most borrowers, the rules will mean no more interest-only mortgages, no more loans where the principal due increases over time, no more loans that carry a balloon payment and no more loan terms of more than 30 years.


Foreclosure Deal Provokes Skepticism

Some consumer advocates and attorneys in Orange County and elsewhere are skeptical that an $8.5 billion settlement announced Monday to resolve claims of nationwide foreclosure abuses will go far enough to compensate homeowners.


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