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Tips on recovering from foreclosure

Posted on February 3rd, 2015 No Comments

Tips on recovering from foreclosure

Fox News offered some tips on January 23 about how to recover after experiencing the stressful process of foreclosure. • After a foreclosure, people may initially improve their credit by using it responsibly enough to impress potential lenders. Homeowners with high credit scores before foreclosure may struggle more to get their credit back to their previous point. Despite […]

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Jermaine Dupri’s mansion in Atlanta lost to foreclosure

Posted on December 29th, 2014 No Comments

Jermaine Dupri’s mansion in Atlanta lost to foreclosure

Atlanta-based rap artist Jermaine Dupri recently lost his mansion to foreclosure for failing to pay over $2 million worth of mortgage, an article by WSB-TV 2 stated on December 11. The 42-year-old rapper and producer reportedly had unpaid monthly payments that totaled $2.5 million on his 9,441 square-foot mansion in Fulton County. A legal notice stated […]

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15% rise in foreclosure activity in October

Posted on December 3rd, 2014 No Comments

15% rise in foreclosure activity in October

An increase of 15 percent in foreclosure filings was observed nationwide last month, an article of the National Mortgage Professional stated on November 13. According to real estate information firm RealtyTrac though a foreclosure rise was felt last month, the numbers is still reduced by 8 percent compared to year 2013. Last October there were […]

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Rapper paid $250K to avoid foreclosure

Posted on October 27th, 2014 No Comments

Rapper paid $250K to avoid foreclosure

American rap artist DMX settled $250,000 with Compass Bank to save his Mount Kisco home from foreclosure, the Chicago Defender reported on October 19. The rapper, whose real name is Earl Simmons, 43, made the settlement in response to a lawsuit filed against him by Compass Bank. DMX was sued by the bank in 2013 for […]

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Decrease in U.S. foreclosure activity

Posted on July 31st, 2014 No Comments

Decrease in U.S. foreclosure activity

A mid-year report recently released by RealtyTrac observed a nationwide decrease in foreclosure rates–now at the lowest numbers seen since 2006, World Property Channel reported on July 17. Recent recorded foreclosure activities for the year’s first half, such as bank repossessions, default notices, and scheduled auctions in the U.S., totaled 613,874, a 23 percent decrease compared to the […]

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Burt Reynolds’ Florida home threatened by foreclosure

Posted on June 11th, 2014 No Comments

Burt Reynolds’ Florida home threatened by foreclosure

American actor Burt Reynolds’ Florida home is threatened by foreclosure, FOX News reported on May 28. In a court hearing held at a Martin County court on May 27, the foreclosure lawsuit filed by the Bank of America in regards to the 78-year-old actor’s was allowed to proceed, despite Reynolds’ request that the case be dismissed. Reynolds […]

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Ohio has 8th highest foreclosure rates in U.S.

Posted on May 30th, 2014 No Comments

Ohio has 8th highest foreclosure rates in U.S.

A recent real estate report has revealed that Ohio has the 8th highest foreclosure rates in the U.S., Dayton Business Journal reported on May 16. Data reveals that in April, at least one out of every 750 homes in Ohio were in some stage of foreclosure procedure. Overall, the U.S.’s foreclosure activity for April reportedly […]

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GAO Report Finds Flaws in Foreclosure Process

Posted on April 30th, 2014 No Comments

GAO Report Finds Flaws in Foreclosure Process

A recent report from the Government Accountability Office (GAO) has found that the error rate among banks involved in the foreclosure process was likely much higher than initially estimated. The report, which follows recent decisions by bank regulators to halt an independent review of bank foreclosure practices nationwide, shows that problems in the foreclosure process […]

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