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short sales of u.s. homes on track to exceed foreclosure deals
short sales of u.s. homes rose to a three-year high in the first quarter as banks agreed to let more borrowers unload property at a loss, putting the transactions on pace to surpass deals for foreclosures, realtytrac inc. said.
bank oversight office failed to spot foreclosure fraud, treasury inspector general says
the office of the comptroller of the currency failed to spot widespread problems in the foreclosure practices of major banks between 2008 and 2010 because the agency’s examiners underestimated the mounting risks and were given outdated guidance that did not address how the industry had changed, according to a report issued friday by the treasury department’s inspector general. read full art...
sales of foreclosure homes rose in 1q
the increase was driven by a spike in short sales, or homes that sell for less than what the owner owed on their mortgage.
navigating online foreclosure auctions
dozens of foreclosed homes are sold at auction every week, some for a steal. but bidders beware, experts say the online foreclosure process is a lot trickier than bidding on ebay!
