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Consultant Must Stop Mortgage Modifications
Posted on March 5th, 2010 No commentsThe Wisconsin Department of Financial Institutions has ordered Rightway Solutions Inc., a Janesville foreclosure consultant, not to sell mortgage modification services and to refund fees it has charged to customers, according to the Milwaukee Journal Sentinel.
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30-Day Mortgage Delinquencies Decline
Posted on February 19th, 2010 No commentsThe Mortgage Bankers Association reported that early stage delinquencies – those 30 days past due – declined from the third to fourth quarters of 2009. Thirty-day delinquencies historically set the pace for loans that end up in serious delinquencies and foreclosures, the association’s economist said. Read more in the Milwaukee Journal Sentinel.
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Bank Declines Land in Foreclosure Suit
Posted on February 5th, 2010 No commentsM&I Bank has filed a foreclosure suit because of a delinquent $1.6 million loan on a housing development in Franklin, Wis. The developer offered to give the bank the land, which the bank declined, according to a story in the Milwaukee Journal Sentinel.
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Portrait of a Dane County Foreclosure
Posted on January 30th, 2010 No commentsBill Schroeder of Lodi, Wis., is one of a growing number of homeowners facing foreclosure in the Madison area. The number of new foreclosure filings in Dane County has more than quadrupled since 2004, and experts expect more pain in the next few years, the Wisconsin State Journal reports.
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Putting Low-Income Buyers in Foreclosed Homes
Posted on January 3rd, 2010 No commentsThe Wisconsin Housing and Economic Development Authority introduced its Neighborhood Advantage program earlier this year to encourage people to buy foreclosed homes in five counties, including Rock County. Those who make less than 50 percent of the county median income are eligible for a loan of 50 percent of the purchase price. A separate, forgivable loan of up to 25 percent of the purchase price is offered to very low-income residents, the Janesville Gazette reported.
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2009 Sets Wisconsin Foreclosure Record
Posted on January 2nd, 2010 No commentsWisconsin residents initiated 30,624 foreclosure filings in 2009, up almost 20 percent from a record 25,541 in 2008. The figures come from ForeclosureAlarm.com and were reported in the Milwaukee Journal Sentinel.
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M&I Extends Foreclosure Moratorium
Posted on December 22nd, 2009 No commentsMarshall & Ilsley Corp. announced that it has extended its foreclosure moratorium an additional three months, though March 31, 2010. The bank had initially imposed a moratorium on Dec. 18, 2008, the Milwaukee Journal Sentinel reported.
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SE Wisconsin Foreclosure Filings Down 9.4%
Posted on December 1st, 2009 No commentsForeclosure filings dropped 9.4 percent from October to November in southeastern Wisconsin, marking the second consecutive month that filings declined. But given the state of the economy, it probably isn’t the start of a long-term trend just yet, said an attorney who handles bankruptcy and foreclosures cases in the Milwaukee Journal Sentinel.
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Help, Advice Available for Foreclosures, Short Sales
Posted on November 21st, 2009 No commentsMany local, state and national resources, both public and private, are available to answer questions and provide information and advice about foreclosures and short sales. The information is available from the Wisconsin State Journal.
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Foreclosures Keep Rising Amid Layoffs
Posted on November 4th, 2009 No commentsForeclosures through the end of October already have topped the record for last year, driven more now by job loss than subprime mortage defaults. The experts say the foreclosures aren’t likely to slow down until companies begin hiring again, the Milwaukee Journal Sentinel reported.