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NMSA Calls For Standardized Treatment Of Vacant Properties

The National Mortgage Servicing Association (NMSA) yesterday issued a report calling on all federal agencies to work together in conjunction with the mortgage servicing community to institute policies that standardize the procedures, definitions and best practices surrounding the treatment of vacant and abandoned residential properties.

Foreclosure Eases Downward In April

Lenders filed 990 petitions to foreclose on properties in Massachusetts in April, an 11.4 percent decrease compared with the 1,117 filed in April 2016, according to a new report from The Warren Group, publisher of Banker & Tradesman.

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Activists Offer Free Foreclosure Defense Clinics

The Massachusetts Alliance Against Predatory Lending is sponsoring free clinics to inform homeowners foreclosed in 2014 or earlier that they face a new deadline to file paperwork to preserve the 20-year window in which homeowners may contest a foreclosure.

Deadline To Preserve Right To Challenge Foreclosures Approaches

Last Friday, Antonio Ibañez – yes, that Ibañez – spoke out publicly for the first time urging homeowners who have been foreclosed-upon prior to 2014 to file paperwork at their registry to preserve their right to challenge that foreclosure for 20 years by Friday, or lose that right forever.

Scott Van Voorhis

Lessons Learned From Foreclosure Crisis

Economic inequality is one of President Barack Obama’s favorite subjects to opine about. But the Obama Administration’s lame and limp-as-wilted-lettuce approach to righting the wrongs of a messed-up housing market

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National Foreclosure Rate Down, Smallest Inventory Since 2007

Nationwide foreclosure rates continued to slide downward in December 2015, according to a report released today by CoreLogic, a global property information provider. The foreclosure inventory declined by 23.8 percent and completed foreclosures declined by 22.6 percent compared with December 2014, according to the report. The number of completed foreclosures nationwide decreased year over...
Massachusetts Attorney General Maura Healy

Healy Rejects MAPPL’s Petition

Massachusetts Attorney General Maura Healy summarily dismissed a petition by the Massachusetts Alliance Against Predatory Lending (MAAPL) to put a new law designed to clear titles of foreclosed-upon properties to a voter referendum. The law, An Act Clearing Titles to Foreclosed Properties, went into effect Dec. 31, 2015, and gives homeowners who have already...

Foreclosures Slowing Down Nationwide

Foreclosure activity is continuing to decline nationwide according to a report released today by CoreLogic, a property information provider. Foreclosure inventory declined nationally by 21.8 percent and completed foreclosures declined by 18.8 percent compared with November 2014, according to the report. The number of completed foreclosures nationwide decreased year over year from 41,000 in...

Activist Group Sends Galvin Early Christmas Present

Secretary of State Bill Galvin got an early Christmas present from the Massachusetts Alliance Against Predatory Lending on Christmas Eve, in the form of a petition to delay implementation of the recently-passed title clearance law. The State House News Service reports the MAAPL filed a petition with 18 signatures with the secretary of state...
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Baker Signs Bill To Cure Ibanez Defects Into Law

Gov. Charlie Baker last week signed into law a bill that clears the title of previously foreclosed-upon properties, curing the so-called Ibanez defects after a period of three years. The law provides a three-year statute of limitations for borrowers to seek to regain title to their property after a foreclosure. The law also says...

National Foreclosure Inventory Down 24.3 Percent From Last Year

Foreclosure inventory nationwide declined by 24.3 percent and completed foreclosures declined by 17.6 percent compared with September 2014, according to a report released today by CoreLogic, a property information analytics firm. CoreLogic President and CEO Anand Nallathambi said the rate of delinquencies is continuing to drop back to historic norms. “As we head into...

Bill Limiting Foreclosure Challenges Passes Senate

The state Senate on Thursday voted 31-7 to pass legislation that limits challenges to property titles to the first three years after the foreclosure, giving some relief to the owners of previously foreclosed-upon homes who would like to sell them. The bill works to restore the titles of foreclosed properties after thousands of foreclosure...

CoreLogic: February 2015 Completed Foreclosures Down 67 Percent From Peak

The U.S. foreclosure inventory declined by 27.3 percent in February and completed foreclosures declined by 15.7 percent from February 2014, according to a new report from real estate data and analytics provider CoreLogic. According to CoreLogic, there were 39,000 completed foreclosures nationwide in February 2015, down from 46,000 in February 2014 and representing a...