Mortgage Defaults, 492 Days Of Free Rent…..And Counting

| November 27, 2010

The number of days since the average borrower in foreclosure last made a mortgage payment is now 492 days up from 382 days a year ago and a low of 244 days in August 2007.

U.S. Bank Industry Entering New Tough Period

| October 6, 2010

  Chris Whalen (one of the top banking analysts): “Rising operating costs in banks will be more significant than in past recessions and could force the U.S. government to restructure some large lenders as expenses overwhelm revenue.”  “We are less than one-quarter of the way through the foreclosure process,” said  Whalen, in remarks prepared for an […]

Bank Of America Joins Ally Financial (The Old GMAC) And JP Morgan In Delaying Foreclosures

| October 1, 2010

By ALAN ZIBEL October 1, 2010 WASHINGTON -  Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases […]

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