Fraudulent practices by failed Georgia bank contributed to more than 500 foreclosures Omni National Bank in Atlanta reported robust profits for much of the past decade, powered by loans to borrowers who wanted to flip houses in low-income neighborhoods. But the profits were largely a mirage, federal prosecutors discovered. The loans Omni doled out...
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Nearly 1,000 Maryland lawyers volunteer to help homeowners facing foreclosure Borrowers struggling to save their homes from foreclosure desperately need legal help, but that’s often when they’re least able to afford it. In Maryland, though, nearly 1,000 attorneys are ready to assist for free. Lawyers began signing up to volunteer a year and a...
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The city of Phoenix was awarded a grant of $60 million under the Neighborhood Stabilization Program, funded through the American Recovery and Reinvestment Act of 2009 In a news release, city officials said the U.S. Department of Housing and Urban Development awarded a total of $1.93 billion to states, cities and organizations. They said...
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Foreclosure filings in the Dayton area decreased more than 14 percent in 2009 There were 7,914 properties with foreclosure filings in the Dayton Metropolitan Statistical Area last year, down from 9,231 in 2008, according to RealtyTrac. The filings, which include default notices, scheduled foreclosure auctions and bank repossessions, are tracked by Irvine, Calif.-based RealtyTrac....
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Big banks like Citi Mortgage and JP Morgan Chase find another area to be greedy when negotiating a short sale with a second lien Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet...
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Will an unprecedented $37 million be enough to give Flint a sorely needed facelift? The federal government is pouring a staggering amount of money into the city of Flint, Michigan, in an attempt to revitalize a city ravaged by foreclosures and an astonishing rate of abandonment. In addition to the $25 million neighborhood stabilization...
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