Foreclosures

FILE - Home for sale/forclosure.

Utah November foreclosure rate 16th in nation

SALT LAKE CITY — Utah’s November foreclosure rate comes in at 16th highest in the nation. 

Utah’s September foreclosure rate remains the 16th highest in the nation for a second month.

Utah foreclosure rate holds steady at No. 16 in US

SALT LAKE CITY — Utah’s September foreclosure rate remains the 16th highest in the nation for a second month.

County in California uses eminent domain to avoid foreclosure blight

When the real estate market crashed in 2008, numerous solutions were bandied about to stem the crisis and keep people in their homes.

The Home Affordable Modification Program and its various cousins were promulgated through the Federal Housing Administration. These loan modification programs were limited legally, since they amounted to not much more than a strong suggestion from the regulatory agency that the mortgage holders should offer loan modifications. The banks botched it so badly they got sued by 49 state attorneys general and the federal government, resulting in a court order against the five largest loan servicers establishing guidelines that have to be followed for loan modifications.

Homes in Davis County

Utah foreclosure rate drops to 26th in nation

SALT LAKE CITY — Utah’s foreclosure rate is the 26th highest in the nation after posting a more than 70 percent drop in activity since last July.

SLC foreclosure rates still falling fast

SALT LAKE CITY — Salt Lake City has posted one of the nation’s biggest drops in foreclosure activity so far this year.

Data released Thursday by RealtyTrac shows Salt Lake City’s foreclosure rate fell 22 percent in the first three months of 2012, compared with the quarter earlier. That’s the fourth most dramatic drop among the 50 largest metro areas in the country, and puts the city behind Portland, Ore., Las Vegas, and Providence, R.I.

Utah officials unveil programs to help homebuyers

SALT LAKE CITY -- Homebuyers in Utah with a low credit score or minimal savings can receive down payment assistance through two new programs announced by state officials Monday.

Matt Townsend, of Ogden, holds a Shih Tzu he adopted at the Weber County Animal Shelter on Thursday. The dog, which he and his wife, Joanne, have named Buster, was recently found abandoned ainside a foreclosed home in North Ogden. The dog received donated grooming services from The Little Dog House to clean it up. Townsend has adopted several animals from the shelter over the years and recently had a dog die from cancer after they had owned it for 16 years. (ROBERT JOHNSON/Standard-Examiner)

Abandoned dog gets a new home; bereft couple gets a new pet

OGDEN — Sometimes one happy ending can resolve two sad stories at once. That was the case Thursday when Matt and Joanne Townsend adopted a 2-year-old Shih Tzu they named Buster.

Utah takes $171M in national mortgage settlement

SALT LAKE CITY — The money Utah will receive from a national settlement with big mortgage lenders might not be enough to pay every homeowner entitled to receive a share, state lawyers said Thursday.

Utah man accused of running foreclosure aid scam

SALT LAKE CITY -- A man who owned a loan modification business in Lehi and St. George is being accused of defrauding homeowners to pay for personal expenses including entertainment and his wife's plastic surgery.

Vacant Las Vegas homes being used as indoor pot farms

LAS VEGAS -- The Ballard house was as unassuming as any in the stucco outskirts of Las Vegas: a two-story box the color of an oatmeal cookie. Police charged inside one night searching for a domestic violence suspect. Instead, they smelled something skunky.

Marijuana. Lots of it.

Layton man's case against bank goes to court

LAYTON -- A Layton man's $1.1 million complaint against the J.P. Morgan Chase Bank in U.S. District Court, on claims the bank held his home mortgage payment for five months, has been set for jury trial.

(PAUL BEATY/The Associated Press) U.S. Rep. Jan Schakowsky, D-Ill., speaks to protestors outside the Hyatt Regency during the Mortgage Banker’s Association’s Annual Convention in Chicago, Monday, Oct. 10, 2011. Traffic in Chicago’s downtown business district was snarled by hundreds of demonstrators who were protesting about a number of issues, including high unemployment, foreclosures and lagging school funding, what organizers called “Take Back Chicago.”

Voters with housing woes giving up on politicians

MESA, Ariz. — Like just about everyone in the Phoenix area, Jen Pollock has lost several neighbors to foreclosure and short sales. And, like hundreds of thousands of others in Arizona, Pollock and her husband are upside down on their mortgage, owing about twice as much as their suburban house is now worth.

Sacramento Bee

Fannie Mae pressured for foreclosures

DETROIT -- In early December, a senior executive at Fannie Mae assured members of the Senate Banking Committee in Washington that the mortgage giant was doing everything possible to address the foreclosure crisis.

In foreclosures, homeowner associations feel pinch

LEHIGH ACRES, Fla. -- Rich Philhower knows the trouble a few vacant houses can bring a homeowners association.

President of Governor's Run I, a sub-association of Lehigh Acres' Westminster Golf Community, Philhower, 75, said his community is struggling to rebound from $18,000 in unpaid assessments from three homes over several years.

The debt puts him in a difficult spot: Does he forego some maintenance or raise assessments for remaining homeowners? Neither option is attractive.

"Then you've got people who are upset because you increase the fees," Philhower said.

Three years into the downturn, many associations find themselves in a similar position. Squeezed by foreclosures, they struggle while awaiting outcomes for cases that date back years.

Processing delays slow foreclosure activity

LOS ANGELES -- Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year and contributed to a sharp drop in properties entering the foreclosure process.

But March foreclosure data suggest foreclosure activity may be starting to creep higher, as lenders make progress tackling a backlog of pending foreclosure cases.

Banks repossessed 215,046 homes in the January to March quarter, down 6 percent from the fourth quarter and down 17 percent versus the same period last year, foreclosure listing firm RealtyTrac Inc. said.

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