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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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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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