foreclosures

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How a Man Lost His Home Over a $134 Tax Bill
How a Man Lost His Home Over a $134 Tax Bill
in case you missed it
Sep 14, 2013 7:05 AM CDT

How a Man Lost His Home Over a $134 Tax Bill

'Washington Post' investigates world of 'unscrupulous' tax-lien investors

(Newser) - If the math seems unbelievable, that's because it kind of is: A 76-year-old retired Marine lost the $197,000 Washington, DC, home he had paid for in full 20 years ago—and all of the equity he had in it—because of an unpaid $134 property tax bill. In...

Bank Takes Everything in Woman's House by Mistake

...And refuses to pay her back

(Newser) - Katie Barnett knows who broke into her house and stole almost everything she owns, but the police won't do a thing about it. That's because the thief is First National Bank, which "repossessed" her house in McArthur, Ohio, by mistake—they'd intended to get the one...

Staffers: Bank of America Gave Us Gift Cards for Lying

Lawsuit says company cheated homeowners

(Newser) - Bank of America told employees to lie to and cheat homeowners looking for help under the government's Home Affordable Modification Program , and rewarded those employees for kicking people out of their homes, staffers allege in sworn statements attached to a recently filed lawsuit. Here are some of the most...

Foreclosure Victims Get New Round of Botched Checks

Last month 's checks bounced, so maybe this is progress

(Newser) - The very same institutions that apparently couldn't foreclose on homes properly are having a run of it: Following regulators' $3.6 million settlement with 13 banks, the Federal Reserve told Goldman Sachs and Morgan Stanley to send affected borrowers $247 million, doled out in amounts between $300 and $125,...

Banks Admit Wrongly Foreclosing on US Troops

At least 700 active-duty troops lost homes during crisis

(Newser) - America's biggest banks have admitted that they wrongfully foreclosed on the homes of at least 700 military personnel, in some cases evicting families while troops were serving in war zones, the New York Times reports. The wrongful foreclosures by banks including Citigroup and Wells Fargo surfaced as part of...

Feds to Banks: Double-Check Your Foreclosures for Errors

Independent review not working, so comptrollers go straight to banks

(Newser) - In the quest to right wrongful foreclosures, government regulators are turning to the last people on Earth one might expect—the unscrupulous lenders who did the foreclosing in the first place. An attempt to distribute billions of dollars in aid by independent consultants was shut down after it was found...

Did Banks Get Off Easy in $8.5B Mortgage Settlement?

Homeowner: 'What's $1K going to do for me?'

(Newser) - Sure, plenty of people—3.8 million, in fact—will benefit from yesterday's $8.5 billion mortgage settlement with banks. But some consumer advocates say the banks themselves have made out the best on the deal, the AP reports. They argue that the institutions are getting away with a...

Widows Forced Into Foreclosure by Mortgage Rules

Fine print keeps them from taking over the house

(Newser) - The housing crisis may be ebbing, but a particularly vulnerable group is falling into foreclosure because of the fine print on mortgages, the New York Times reports. Widows are finding that they can't take over the mortgage—which is usually in their husband's name—without being up-to-date on...

Zillow Now Tells the World About Your Foreclosure

Privacy advocates raise an eyebrow at new feature

(Newser) - If you were hoping your neighbors wouldn't find out about your financial troubles, we've got some bad news. Zillow.com , a popular site allowing people to see how much homes are worth, is now allowing users to search for homes that are headed for foreclosure—even if they'...

Foreclosure Error Ruins Couple's Retirement Home

Subcontractors took valuables, destroyed house

(Newser) - It was just a small desert home near Twentynine Palms, California, but it was all paid for, and Alvin and Pat Tjosaas intended on spending their retirement there. Too bad Wells Fargo decided to foreclose on it anyway. The bank sent subcontractors to the wrong address, and despite a different...

Home Prices See Biggest Jump Since 2005

Growing shortage sends prices upward

(Newser) - House prices had their biggest jump in years in the second quarter of 2012, mainly because of a big shortage of houses for sale, reports the Wall Street Journal . Officials from data firm CoreLogic say it was the biggest jump since 2005, while Freddie Mac, using different methodology, says the...

Guy Buys 650 Michigan Foreclosures for $4.8M

That's every tax foreclosed property in Michigan's Macomb County

(Newser) - When Bill McMachen learned that he could buy all 650 of the tax foreclosed properties in Michigan's Macomb County just by paying the $4.8 million in back taxes, he went for it. "I got a deal nobody else could have got," he tells Fox News . The...

Ryan Lochte&#39;s Parents Face Foreclosure
 Ryan Lochte's Parents 
 Face Foreclosure 
Olympics
Aug 4, 2012 10:28 AM CDT

Ryan Lochte's Parents Face Foreclosure

They might lose their Florida home

(Newser) - Ryan Lochte has won five medals so far in London. If his success translates into endorsement deals, the money might come in the nick of time to save his parents' house: TMZ reports that CitiMortgage is suing to foreclose on their place in Florida. The couple still owe about $240,...

Octomom Begging Fans to Help Buy Her a New Home

She's looking for $150K

(Newser) - A porn flick and stripping may be moving Octomom Nadya Suleman off welfare, but they haven't saved the home she shares with her 14 kids from foreclosure. So she's begging sympathetic Internet surfers to send her $150,000 so she can buy a new house, reports TMZ . "...

One in 30 Homeowners Over Age 75 in Foreclosure
One in 30 Homeowners
Over Age 75 in Foreclosure
sad stats
Jul 19, 2012 9:44 AM CDT

One in 30 Homeowners Over Age 75 in Foreclosure

AARP says delinquency growing among the over 50 crowd

(Newser) - Older Americans are increasingly feeling the hovering specter of foreclosure, after years of not suffering as acutely from the housing crisis, according to a new AARP report. While younger Americans still have a higher rate of serious delinquency, older Americans are now falling behind at a much faster rate, the...

Foreclosures Inch Downward ... a Whole 0.1%

Some very small signs of progress

(Newser) - Banks initiated the fewest number of foreclosures since 2007 last quarter, according to new figures from the Mortgage Bankers Associations. But don't be too quick to don the rose-colored glasses: The number of loans in foreclosure remains stubbornly high at 4.4%—down only a hair from last year'...

States Grab Robosigning Settlement—to Pay Own Bills

California, Georgia, others use settlement as slush fund

(Newser) - When banks agreed to hand the states billions of dollars to resolve the robosigning scandal earlier this year, the money was supposed to go to help struggling homeowners. Instead, more than a dozen states have used it to plug holes in their budgets, the New York Times reports. The latest...

Pot Growers Head for the ... 'Burbs?

Housing crisis creating bargains for growers

(Newser) - America's green, leafy suburbs are becoming home to an increasing number of people growing a green, leafy product. The housing crisis has caused an influx of marijuana growers from rural areas and commercial zones to the suburbs, the New York Times finds. The growers are snapping up spacious homes...

Couple Booted From $1M House After Foreclosure

Bought Maryland home in 2006; made no payments

(Newser) - After buying their million-dollar house in 2006, a Maryland couple never made a single mortgage payment; now they've been evicted after a long struggle, reports the Washington Post . Keith and Janet Ritter made a fortune, temporarily, buying and flipping homes during the housing bubble, and they bought their $1....

Protesters Crash Wells Fargo Meeting

Shareholding activists demand end to foreclosures

(Newser) - Some 15 shareholders were arrested for disrupting Wells Fargo's annual shareholder meeting in San Francisco yesterday. The protesters—allowed in because they own Wells Fargo shares—were ejected after shouting over CEO John Stumpf's presentation about the bank's $15.9 billion profit in 2011, reports the San ...

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