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Wis. Foreclosures Set New Record in March
Posted on April 1st, 2010 No commentsForeclosure filings in Wisconsin rose to a new one-month record in March. The 2,852 filings statewide topped the record of 2,792 set in September, according to preliminary figures, according to the Milwaukee Journal Sentinel.
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M&I Extends Foreclosure Moratorium
Posted on March 29th, 2010 No commentsMarshall & Ilsley Corp. has extended its foreclosure moratorium another 90 days, through June 30, the Milwaukee Journal Sentinel reported.
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B of A Mortgage Policy Could Benefit MGIC
Posted on March 24th, 2010 No commentsBank of America, the largest mortgage servicer in the country, will forgive up to 30 percent of some customers’ total mortgage balance. It’s a move that could also benefit Milwaukee-based mortgage insurer MGIC Investment Corp. B of A’s Countrywide unit sued MGIC in December, claiming that MGIC denied millions of dollars in valid claims. Read the Milwaukee Journal Sentinel article.
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Milwaukee Police Helping At-Risk Homeowners
Posted on March 16th, 2010 No commentsMilwaukee police officers are joining forces with city and community organizations to connect at-risk homeowners with foreclosure help. The city has more than 1,200 vacant and bank-owned properties, according to one source. Read the story from WISN-TV in Milwaukee.
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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.