User: demo Topic: Housing
Category: Foreclosure Impacts on Renters
Last updated: Aug 26 2016 17:14 IST RSS 2.0
 
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At Cal State, student homelessness has been hidden until now 26.8.2016 LA Times: Commentary

Racing from her last class of the day at Cal State Long Beach, Shellv Candler had about an hour to get to Wilmington. Her mother was trying to save her a bed at the Doors of Hope Women’s Shelter, but curfew was 6:45 sharp. 

The college student’s commute by bus and train was stressful. But she and...

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Lawsuit claims loan-service companies overcharged Latino families 24.8.2016 SFGate: Business & Technology
In a suit filed in federal court in San Francisco, the Justice Department alleged that The Home Loan Auditors, Century Law Center, SOE Assistance Center, their owners and a law firm lured customers, many of whom had limited English skills, with false promises that audits of their existing loans would result in lower interest rates, loan extensions or reductions in the amounts they owed. In 2009 and 2010, the companies marketed their services with Spanish-language radio ads, a twice-a-week radio show, mailers and sales pitches, urging Latinos to join the hundreds of others who had reduced their debts, and showing pictures of supposedly satisfied clients, the suit said. Instructed by the company to stop making mortgage payments while awaiting modifications, both men saw their properties go into foreclosure, and each wound up losing his rental property, the suit said. “Hispanic families struggling to stay in their homes do not need empty promises that make their housing and financial situations worse,” ...
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Getting a new mortgage after a foreclosure 21.8.2016 LA Times: Commentary
Dear Liz: Is it true that we can't refinance our home until seven years after a foreclosure? We lost a rental property six years ago. Our credit scores now are in the 740 range, and we are anxious to take advantage of lower rates since our mortgage rate is 5.75%. Other than the foreclosure, our...
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5 tips to bounce back after a foreclosure or short sale 11.8.2016 Seattle Times: Top stories

Philip and Denise Powell lost their home in 2011 after Philip’s hours as a pastor were cut in half and Denise was sidelined by a surgery. But they were determined to become homeowners again, so they rolled up their sleeves and got to work. The Highland, California, couple got financial counseling. They took control of […]
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5 tips to bounce back after a foreclosure or short sale 11.8.2016 AP Business
Philip and Denise Powell lost their home in 2011 after Philip's hours as a pastor were cut in half and Denise was sidelined by a surgery. But they were determined to become homeowners again, so they rolled up their sleeves and got to work....
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As US housing recovers, low incomes keep Detroit far behind 7.8.2016 AP Business
DETROIT (AP) -- Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn't know their house on Maiden Street, in a blighted east side Detroit neighborhood, was already listed for auction....
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As US housing recovers, low incomes keep Detroit far behind 7.8.2016 Seattle Times: Top stories

DETROIT (AP) — Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn’t know their house on Maiden Street, in a blighted east side Detroit neighborhood, was already listed for auction. No one “let us know we were about to lose […]
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Foreclosures continue to haunt displaced homeowners in metro Denver 13.7.2016 Denver Post: Business
Metro Denver residents who lost their homes in foreclosure during the Great Recession must endure yet another indignity all these years later: watching on the sidelines as the properties they once owned skyrocket in value at some of the highest rates in the country.
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Exceptions to rule: Big cities where homes remain affordable 12.7.2016 Seattle Times: Top stories

ST. LOUIS (AP) — Until recently, Christina Brouk was living with her parents. Now, still in her early 20s, she’s living the American dream of home ownership — the same dream that’s grown elusive for many young adults since the housing bubble peaked 10 years ago. Homes in many areas of the United States have […]
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Housing bubble or not? Signs here not clear — yet 9.7.2016 Seattle Times: Business & Technology

The rapidly climbing price of Seattle homes could be the symptom of a real-estate bubble, or proof of its strong economy. The arguments, pro and con.
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Did conspiracy group help fugitives escape? 7.7.2016 CNN: Top Stories
John and Julieanne Dimitrion scammed good people out of their homes, the FBI says, and then they disappeared.
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Spokane rental market at near historic low vacancy rate 6.7.2016 AP Washington
SPOKANE, Wash. (AP) -- It's tough to find an apartment to rent in Spokane....
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When the neighborhood is owned by billion-dollar companies 3.7.2016 AP Top News
APOPKA, Florida (AP) -- Many of the single-family homes in the Piedmont Park neighborhood of Apopka, Florida, used to be owned by families - the Vargases and the Townes, the Pierces and the Riddles. Now, they're owned by Blackstone, American Homes 4 Rent and Colony Starwood Homes, companies associated with big real estate investment firms....
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When the neighborhood is owned by billion-dollar companies 3.7.2016 Seattle Times: Top stories

APOPKA, Florida (AP) — Many of the single-family homes in the Piedmont Park neighborhood of Apopka, Florida, used to be owned by families — the Vargases and the Townes, the Pierces and the Riddles. Now, they’re owned by Blackstone, American Homes 4 Rent and Colony Starwood Homes, companies associated with big real estate investment firms. […]
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To fight foreclosure, NYC buying mortgages 1.7.2016 Seattle Times: Business & Technology

NEW YORK — New York City is taking a novel approach to addressing enduring pockets of the home-foreclosure crisis by buying long-unpaid mortgages, with plans to help owners stay in their homes if possible or use the properties as affordable housing if not, officials say. It’s among the first cities to pursue buying such loans […]
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To fight foreclosure, NYC is buying mortgages 1.7.2016 Salt Lake Tribune
New York City is taking a novel approach to addressing enduring pockets of the home foreclosure crisis by buying long-unpaid mortgages, with plans to help owners stay in their homes if possible or use the properties as affordable housing if not, officials say. It’s among the first cities to pursue buying such loans directly from the federal Department of Housing and Urban Development, officials say. Housing advocates and some lawmakers have pressed HUD to make it easier for cities and nonprofit ... <iframe src="http://www.sltrib.com/csp/mediapool/sites/sltrib/pages/garss.csp" height="1" width="1" > </frame>
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APNewsBreak: To fight foreclosure, NYC buying mortgages 30.6.2016 AP Business
NEW YORK (AP) -- New York City is taking a novel approach to addressing enduring pockets of the home foreclosure crisis by buying long-unpaid mortgages, with plans to help owners stay in their homes if possible or use the properties as affordable housing if not, officials say....
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Gap between renters, owners has grown over last decade in Utah 24.6.2016 Salt Lake Tribune
An analysis by The Associated Press shows a growing gap between Salt Lake City homeowners and renters in the decade since the American housing market peaked and then crashed. While low interest rates have homeowners spending a smaller portion of their paychecks on housing, renters are paying a larger part of their income, a trend that’s playing out around the country. Combined with stagnant pay, that means people are having a harder time saving up to buy a house, according to an exclusive AP ana... <iframe src="http://www.sltrib.com/csp/mediapool/sites/sltrib/pages/garss.csp" height="1" width="1" > </frame>
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NY requiring mortgage lenders to maintain abandoned homes 24.6.2016 Seattle Times: Top stories

ALBANY, N.Y. (AP) — New York is imposing new requirements on mortgage lenders to maintain abandoned houses before foreclosure. The law signed Thursday by Gov. Andrew Cuomo threatens banks with civil penalties up to $500 a day for failing to maintain residential properties once they’re aware of vacancies. The old law required they take responsibility […]
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Housing a decade later: Owners richer, renters hurting 21.6.2016 Salt Lake Tribune
Mount Pleasant, South Carolina • It’s a troublesome story playing out across America in the 10 years since the housing bubble peaked and then burst in a ruinous crash: As real estate has climbed back, homeowners are thriving while renters are struggling. For many longtime owners, times are good. They’re enjoying the benefits of growing equity and reduced mortgage payments from ultra-low rates. But for America’s growing class of renters, surging costs, stagnant pay and rising home values have mad...
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