Housing and Mortgage News Foreclosure Rescue and Loan Modification Scammers: FDIC Tips As previously reported in FDIC Consumer News, many homeowners having difficulty making their monthly mortgage payments are being targeted by criminals who charge large upfront fees and falsely "guarantee" to rescue a home from foreclosure. May 28, 2009 - 8:15:30 AM
Housing and Mortgage News FTC Charges for Deceiving Homeowners Two individuals who lured homeowners into high-cost, short-term loans secured by an additional mortgage on their homes have settled FTC charges that they violated federal law. May 4, 2009 - 9:08:19 AM
Although the Department of Real Estate has jurisdiction over certain licensees engaged in mortgage loan brokering, we routinely receive calls concerning many areas in which we have no enforcement authority.
Apr 12, 2009 - 11:30:45 PM
Housing and Mortgage News Foreclosure Rescue Scams: Federal & State Crackdown As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration today announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams. Apr 8, 2009 - 10:21:33 AM
Announcements New Consumer Website For Responsible Homeowners Seeking Relief The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) launched a new website for consumers seeking information about the Administration's Making Home Affordable loan. Mar 20, 2009 - 8:43:59 PM
Housing and Mortgage News Avoid Foreclosure: Keep Your Home. Know Your Loan. HUD promotes free housing counseling U.S. Housing and Urban Development Secretary Steve Preston today announced HUD's latest effort to prevent foreclosure by launching an aggressive consumer education campaign in six cities. HUD's "Keep Your Home. Know Your Loan."campaign will kick off in Chicago, Detroit, Los Angeles, Miami, New York and Phoenix. Preston launched the public awareness initiative at Neighborhood Housing Services, a New York City agency that offers clients free mortgage delinquency and default resolution counseling. Jan 16, 2009 - 8:15:00 AM
Housing and Mortgage News Bank-owned Properties For Sale - Foreclosed Homes CalHFA does business with various banks who own foreclosed homes, also known as "Real Estate Owned" or “REO” properties, and administers the sale of a number of foreclosed homes itself. CalHFA is now offering special interest rates on some of these foreclosed homes, and invites you to learn more about the three types of REO properties listed on our web site: Jan 3, 2009 - 7:58:11 AM
IRS Tax Tips IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell The Internal Revenue Service
today announced an expedited process that will make it easier for financially
distressed homeowners to avoid having a federal tax lien block refinancing of
mortgages or the sale of a home. Dec 30, 2008 - 1:20:49 PM
Housing and Mortgage News Buying a Foreclosed Home? Uncle Sam Shows You How Are you fascinated by the home makeover television programs that show the excitement of buying and renovating a foreclosed home? Have you seen foreclosed homes in your city that look like a good buy? Before you go out to the next courthouse auction to buy your next home or dream of flipping that house for major profits, be sure to do your homework. We’ve compiled valuable tips on navigating your options when buying a foreclosed home. Dec 30, 2008 - 8:24:45 AM
Housing and Mortgage News HUD TO SPEED PROCESS FOR AWARDING GRANTS In an effort to accelerate the process of awarding grants to State and local governments, non-profit organizations, and other community-based applicants, the U.S. Department of Housing and Urban Development today announced a new streamlined funding process. Dec 29, 2008 - 7:11:51 PM
Housing and Mortgage News FHA Mortgage Update: HUD Announces New, Permanent FHA Mortgage Loan Limits Beginning January 1, 2009, FHA will insure single-family home mortgages up to $271,050 in low cost areas and up to a maximum of $625,500 in high cost areas. The February 2008 Stimulus Package temporarily raised the FHA maximum to $729,750 through December 31, 2008. The new $625,500 maximum, however, represents a significant increase over the $362,790 limit that was in effect prior to the Stimulus Package. Nov 12, 2008 - 10:42:36 AM
Housing and Mortgage News Mortgage Broker Indicted In Million Dollar Mortgage Clarence Lewis III, 45, a broker operating Motown Mortgage Group, has been indicted and charged with conspiracy, wire fraud and money laundering arising from an alleged scheme to defraud residential mortgage lenders, United States Attorney Don DeGabrielle and FBI Houston Special Agent in Charge Andrew R. Bland III announced today. Nov 7, 2008 - 9:23:16 AM
Housing and Mortgage News Foreclosure Prevention: HUD Modernizes Online Guide For Avoiding Foreclosure WASHINGTON - Do you need help finding a housing counselor or contacting your lender? Or do you want more information about mortgage refinance options offered by HUD's Federal Housing Administration (FHA)? Americans are able to do all this and more thanks to an updated website developed by the U.S. Department of Housing and Urban Development. Oct 30, 2008 - 12:07:48 PM
Housing and Mortgage News Enhanced VA Mortgage Options Now Available for Veterans Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs (VA) guaranteed home loan. These new options are available as a result of the Veterans’ Benefits Improvement Act of 2008, which the President signed into law on October 10, 2008. Oct 30, 2008 - 3:40:52 AM
HUD funding critical to foreclosure prevention -Hundreds of thousands of American families will have a greater opportunity to find housing or keep the homes they have because of $50 million in housing counseling and counseling training grants announced today by U.S. Housing and Urban Development Secretary Steve Preston.
