Foreclosure News

Housing agencies and developers in five Arkansas cities will get nearly $18 million in loans from the Arkansas Development Finance Authority to build more than 200 homes for low-income households.

The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for lucrative fees, losing at least $457 million for five Ohio public employee pension and retirement funds, the state's attorney general alleged in a lawsuit filed Friday.

A recovery in U.S. housing will have to wait at least until next year. The outlook for the home market dimmed this week as residential construction and mortgage applications fell and loan delinquencies reached a record.

Asian shares slipped on Friday, but recovered some early losses, while the dollar was steady after U.S. data raised fears that a global economic recovery could lose momentum.

Asia's stock markets mostly retreated Friday following a glum session on Wall Street as evidence of a weak economic recovery continued to pile up.

Nov. 19 -- Jay Brinkmann, chief economist at the Mortgage Bankers Association, and Michael Feder, chief executive officer of Radar Logic Inc., talk with Bloomberg's Carol Massar and Matt Miller about the U.S. housing market.

Foreclosure filings for the third quarter rose by 60 percent in Larimer County and 62 percent in Weld County compared to the same quarter last year, according to a report from the Colorado Division of Housing.

The $390,000 median sales price paid for a Bay Area home last month amounted to a modest gain from a year ago, but that was the first time year-to-year prices rose in nearly two years.

Foreclosures in Massachusetts soared nearly 30 percent in October compared to the previous month, but are down slightly when compared to the same month last year.

The Mortgage Bankers Association's report Thursday adds to fears that the housing market and broader recovery could be thwarted by the continuing surge in home loan defaults, especially as the unemployment rate keeps rising.

Mortgage delinquencies in the Lehigh Valley region continued to rise in the third quarter, indicating the weight of foreclosures on the local housing market is likely to keep building, according to a report released Tuesday.

Tuesday, November 17, 2009 Congressman Barney Frank says he wants to help unemployed homeowners struggling to pay the mortgage.

Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors .

Despite a small decrease in the median home price, Southern California real estate sales rose in October.

The budding economic recovery is getting little help from the home building industry, which normally creates jobs and boosts growth as a recession ends.

Arizona legislators began a special session Tuesday mostly aimed at reducing the state's $2 billion budget shortfall but also to resolve issues related to foreclosures and research funding.

The median home price in Southern California rose nearly 2 percent last month from September, as the inventory of homes for sale continued to shrink and lenders worked to avoid fresh foreclosures, a tracking firm said Tuesday.

JIM RYDBOM/jrydbom@greeleytribune.com KeyBank has started foreclosure proceedings against Centerra Lifestyle Center LLC, according to records filed Monday afternoon at the Larimer County Clerk and Recorder's Office.

Foreclosures continue to uproot families across the country and the vacant homes left behind are attracting some unwanted activity.

The number of distressed borrowers in Florida with mortgages owned or serviced by CitiGroup that benefited from foreclosure prevention efforts outnumbered borrowers who were foreclosed on 16 to one during Q309, the bank announced.