7/29/2014 - State Files Suit Against Capital Foreclosure - As foreclosure rates increase, residents have been left wide open to fraudulent predators, some of which are willing to take advantage of the emotional distress of the families trying to deal with impending foreclosures. - In Indianapolis, the state filed a lawsuit against an Indianapolis-based credit counseling company last week accusing it of taking away as much as $20,000 from its customers and practicing illegal lending. According to Indiana Attorney General Steve Carter, Capital Foreclosure Inc. deceived their clients with a false promise that they would prevent the properties of the homeowners from ending in foreclosure. Carter said that some families do not have a home because they put their trust with Capital Foreclosure. He added that the company took advantage of the vulnerability and desperatio...

7/29/2014 - Foreclosures Are More Than ARMS - While there is a correlation seen between adjustable-rate mortgages (ARMs) and the rate of foreclosures, ARMs are not necessarily an indicator of high foreclosure rates. - The connection between adjustable-rate mortgages (ARMs) and foreclosures are becoming more obvious especially in the past year when the ARMs started to reset to higher rates. In fact, states with the ...

7/29/2014 - Clintons Visit Oakland To Talk Foreclosure - Bill Clinton takes the stage with his wife and gives his support for her plans to help the U.S. overcome the current economy and foreclosure crisis. - In California, with a few weeks remaining before the California presidential primary, former president Bill Clinton lent a hand to boost his wife’s campaign in Oakland last week. The former president ...

7/29/2014 - Foreclosure Counselors Ask Senator Murray For Help - A foreclosure discussion led by Sen. Patty Murray, sponsored by the Washington State Housing Finance Commission, included about a dozen professionals from the housing industry. Of that dozen, at least two were foreclosure counselors hoping to receive some assistance with their counseling programs. - In Pierce County, Teresa Seeley is mustering up everything she has to help every call that comes her way. Seeley, a counseling coordinator for Consumer Counseling Northwest in Pierce County said th...

7/29/2014 - Democrats Discuss Foreclosure Plans In Nevada - John Edwards, Senator Clinton and Barack Obama are just a few of the Democratic leaders that proposed their plans on how to deal with the increasing foreclosure rates and our current state of the economy. - Last week, former Federal Reserve Chairman Alan Greenspan was in Las Vegas to give his view on the future of the housing problem and possible recession. He told the Wall Street Journal that the chance...

7/28/2014 - Minneapolis, Contra Costa Seek Foreclosure Delay - The Minneapolis City Council passed a resolution last week calling for a temporary and voluntary freeze on foreclosures all across the city. More cities are hoping to pass a similar resolution. - The Minneapolis City Council passed a resolution last week calling for a temporary and voluntary freeze on foreclosures all across the city. When Taalibah As-Siddiq bought her first home, she could...

7/28/2014 - National Standards Available For Foreclosure Helpers - The National Industry Foreclosure Counseling Standards were released this past Friday as a tool that counselors can use to help educate homeowners on how to save their homes from foreclosure. - In response to the growing foreclosure crisis, the National Industry Foreclosure Counseling Standards were released Friday last week. These would serve as the official guidelines loss mitigation couns...

7/25/2014 - Cleveland Sues 21 Banks Over Foreclosures - Cleveland Mayor Frank Jackson states that Cleveland has suffered from the soaring costs caused by foreclosures due to added police and fire monitoring for the empty homes, maintenance costs on the properties and lost taxes. - The city of Cleveland recently sued 21 banks, stating that their subprime lending practices have led to a widespread public problem that decreased home values and city tax revenues. The lawsuit, wh...

7/25/2014 - O’malley Proposes Foreclosure Bill Package - The package would focus on tightening the rules of mortgage lending, including a thorough income check to make sure borrowers can repay a loan in the long-term. - In Maryland, Gov. Martin O'Malley is suggesting a bill package that targets fraudulent lenders to crack down on scam lenders and give delinquent homeowners more time to save their homes. O’Malley, ...