Foreclosure

Bank of America argued it was not required to conduct the face-to-face meeting because after defaulting on the note and mortgage the borrowers demanded “the bank cease all communication” with them.

With the economy and housing market in a period of unpredictable change, what lies ahead for the foreclosure auction sector? Editor’s note: This feature originally appeared in the April issue of DS News

This population represents $651 billion in unpaid principal and includes 4.9% of all GSE-backed loans and 7.6% of FHA/VA loans.

A district judge said he is likely to approve a settlement of allegations involving wrongful foreclosures caused by a computer error.

Foreclosures and bank repossessions were down in Q1, and foreclosures took less time to complete than a year ago.

The FHFA’s report found that 50% of the actions taken during the month were for loan modification. Click through to read more on the report.

The number of delinquent loans is at its lowest number in more than two decades, but the report noted forbearance programs are serving as a “buffer” from “wide-spread foreclosures.”

A new white paper estimates that a projected unemployment rate of 15% could result in 3.5 million new mortgage delinquencies.

Gov. Ron DeSantis said this move is in response to economic fallout from the coronavirus pandemic.

Click through to read what share of Americans with loans could stop paying them if the economy remains closed through the summer.