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U.S. soldier gets home back after HOA forced foreclosure sale

U.S. soldier gets home back after HOA forced foreclosure sale

Texas serviceman and his family will get house back by court order, reversing foreclosure while he was serving in Iraq Army National Guard Capt. Michael Clauer and his wife, May, lost their $315,000 southwest Frisco home in May 2008 after falling behind on Heritage Lakes Homeowners Association dues. The Clauers sued the association and...
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Foreclosure rates down in hardest hit U.S. cities

Foreclosure rates down in hardest hit U.S. cities

All 10 of the metro areas with the highest foreclosure rate – and 23 of the top 25 − saw default notices fall during that time. That doesn’t mean that their problems are over. All 25 metros have foreclosure rates that are two to five times the national average. Despite Las Vegas’s improvement in...
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18.9 million U.S. homes stand vacant as foreclosures surge

18.9 million U.S. homes stand vacant as foreclosures surge

Bloomberg reports that about 18.9 million homes in the US stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade. The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the US Census Bureau...
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One in fifty Tucson housing units get foreclosure notice so far this year

One in fifty Tucson housing units get foreclosure notice so far this year

The latest housing statistics from two of the nation’s leading data collection organizations show that the Tucson market remains stuck in a nasty quagmire of mortgage delinquencies and foreclosures. For June, Tucson posted the 39th highest foreclosure rate among metropolitan areas in the nation with 1.96 percent of housing units — that’s one in...
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Durham NC foreclosures up 35-percent from 2009

Durham NC foreclosures up 35-percent from 2009

Foreclosures in Durham County NC are up 35% for the first half of 2010 compared to the same period in 2009, much of it a result of high unemployment. Between January and June this year, 985 properties began the foreclosure process. “What is driving these now is unemployment,” said Chris Kukla, senior counsel in...
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Justice Department unit targets unfair lending to minorities

Justice Department unit targets unfair lending to minorities

A new unit of the Justice Department is investigating the lending practices of banks and mortgage brokers suspected of targeting minorities for questionable mortgages that forced them into foreclosure The new Fair Lending unit of the Justice Department is going after lenders and brokers that have unfairly denied minorities access to home loans. It’s...
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