Foreclosure News

The state Senate has approved a bill to let counties increase real estate filing fees by $1 to help fund prosecutions for housing fraud.

California has the second highest rate of home foreclosures in the country, behind Nevada.

As that problem continues to grow, prosecutors say a rising number of scam artists is trying to take advantage of residents who are at risk of losing their homes. They will promise them fraudulent refinancing schemes, for example.

State Sen. Dave Cox says the housing trouble is prompting so many real estate frauds that the cases are straining the budgets of district attorneys' offices throughout the state. Read more

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Right now house sales across the state are down and in many counties the sale prices are also down. via ClipSyndicate

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The U.S. House Thursday disregarded a veto threat and approved legislation to provide $15 billion to the states to buy and improve foreclosed properties. via Daily India

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“Despite a weak housing market, mortgage rates remained almost unchanged this week based on better-than-expected economic data releases that indicated the economy still has some staying power”

Rates on 30-year mortgages edged lower this week but remained above 6% as signs of economic stability overshadowed continued weakness in the housing market. via CNN Money

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The House of Representatives passed a housing aid plan to provide $300 billion in refinanced mortgages for struggling homeowners. via KGTV

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“Some people just want to dig in their heels”

State legislators were slowly wrapping up a legislative session Wednesday night that started off with many promises and a plump surplus, yet ended with curtailed spending amid a growing deficit. via Hartford Business

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This doesn't sound good at all Relaxing standards, backing loans for riskier borrowers and increasing loan sizes all sound like contributors to the problem, not read more solutions. via StarTribune

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Entertainment RENO, Nev. - A national report estimated nearly 40,000 children in Nevada will be affected as their families lose their homes to foreclosure. via KOLO

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Local realtor creates site to help people distinguish if the home is in foreclosure. via ClipSyndicate

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The state Assembly has passed legislation to impose a one-year delay on foreclosures after a homeowner defaults on mortgage payments. via 1010Wins

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