Getting a mortgage after foreclosure

There are some additional hurdles for homeowners who have gone through a foreclosure, short sale or bankruptcy, but a little patience and some financial hard work will go a long way. Buying a home is a challenging goal for most hopeful homeowners. But for those who have experienced a bankruptcy, foreclosure or short sale, the …

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California expands ‘Hardest Hit’ eligibility for distressed homeowners

California has expanded the pool of borrowers who could qualify for three programs aimed at helping families at risk of losing their homes, by making those who tapped their home equity or who took out loans after Jan. 1, 2009, eligible for assistance. The California Housing Finance Agency (CalHFA) is administering nearly $2 billion in …

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HUD’s Inventory of REOs More Than Double a Year Ago

HUD has released a report detailing recent business activity at the Federal Housing Administration (FHA). It shows that the federal agency’s inventory of REO homes has ballooned as sales from this portfolio fell sharply during the final months of 2010 and early part of this year. The number of repossessed single-family properties held at the …

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Foreclosure inventory is at an all-time high

You may know about your next-door neighbor who hasn’t paid their mortgage in a while, and others who are doing the same and living rent-free, but here’s proof that this is actually the case for roughly a third of delinquent mortgages in this article by DSNews.com: A new report released by Lender Processing Services this …

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