Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure

To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process. Senators Lisa Murkowski (R-Arkansas), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a …

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Obama’s Investigative Unit: Absolving Iniquities or Slowing Progress?

New York Attorney General Eric Schneiderman has reportedly been designated a co-chair of President Obama’s newly announced investigative team to probe the mortgage industry for past misconduct. In his State of the Union address this week, Obama announced the creation of “a special unit of federal prosecutors and leading state attorneys general” to examine the …

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Is housing looking up?

USA Today posted an article entitled: “Housing outlook is more upbeat.”  Apparently, it’s believed that the housing market is finally nearing the bottom for good.  According to the article, both home sales and home building are expected to rise this year–after the steep decrease in both the past five years.  Here are just a few …

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Foreclosure Home Sales Decline

RealtyTrac has released its year-end 2010 foreclosure sales report, which shows that foreclosure homes accounted for nearly 26 percent of all U.S. residential sales last year, down from 29 percent of all sales in 2009 but up from 23 percent in 2008. The tracking firm defines a foreclosure sale as the sale of a property …

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