The number of delinquent mortgages fell in May to the lowest level since 2006, the result of a slowing housing market and delays in banks’ foreclosure process.
Thousands of troubled homeowners are waiting at the Shrine Auditorium for the “Save The Dream” tour organized by the Neighborhood Assistance Corporation of America.
Prosecutors say Deutsche Bank illegally evicted tenants, shut off their water and power and then allowed hundreds of properties to turn into blighted homes.
Prosecutors say buyers were told that if they paid half their mortgage payments to Pacific Vantage, the company would cover the other half and eventually split profits on a future sale.
Assemblyman Bob Blumenfeld says the money collected from banks would go to school districts, police and fire departments, and small business loans.
The attorney general of Minnesota says a Costa Mesa mortgage company charged homeowners thousands of dollars in fees and never delivered on promised refinancing services.
Short sale transactions allow distressed borrowers to avoid foreclosure by selling their homes for less than what is owed on them.
The plan is aimed at helping thousands of borrowers who owe more than their properties are worth, but without cooperation from the banks, the program will likely have limited benefits.
Fewer U.S. homes entered the foreclosure process in January than in any month in more than three years, the latest sign lenders are taking longer to move against homeowners who have fallen behind on mortgage payments.
A steep decline in home values across California and the U.S. are leaving more Americans underwater in their mortgages in 2011.
As long as unemployment stays high in California, more people will likely be forced out of their homes by foreclosure, a state panel warned on Monday.
With patience and paperwork, thousands of people lined up at the L.A. Sports Arena Sunday to try and refinance their mortgage through the Neighborhood Assistance Corporation of America (NACA).
Thousands of homeowners waited at the Los Angeles Memorial Sports Arena Thursday in the hopes of getting free advice to save their homes from foreclosures.
Industry experts warn Riverside County is among the most distressed cities in the state when it comes to mortgages — and 2011 may not bring much more relief.
Fewer Southland homeowners struggled to keep up with their mortgages in December, but there may be more turbulence for those with adjustable rate mortgages.