DeKalb County’s Mall at Stonecrest has become the latest metro Atlanta shopping palace beset by debt issues that could leave it vulnerable to foreclosure. A loan backed by a portion of the giant Lithonia mall off Interstate Highway 20 is now in the hands of a company that helps work out troubled debt, according to [...]
Feds Want to Stop Local Governments from Seizing Mortgages to Stop Foreclosures
September 20, 2012 | Posted by
U.S. regulators and lawmakers are seeking ways to keep local governments from using the power of eminent domain to seize mortgages, citing concern about the potential cost to taxpayers, investors and homebuyers. The issue, the subject of a Mortgage Bankers Association symposium today, has gained attention in Washington after the city of Chicago and California’s [...]
Revolutionary: Southern California County Facing Down Big Banks, Defending Homeowners
September 2, 2012 | Posted by
A Southern California community is looking to a rarely invoked government power to save underwater homeowners from foreclosure. Eminent domain is a government privilege usually invoked to acquire private land for public works like new roads and power lines, but San Francisco-based venture fund Mortgage Resolution Fund is calling for government officials in San Bernardino [...]
July Foreclosure Filings Fell 10%, States Slow Seizure Process
August 10, 2012 | Posted by
U.S. foreclosure filings fell 10 percent in July from a year earlier as court rulings and new legislation slowed the process for seizing homes in some states, according to RealtyTrac Inc. Default, auction and repossession notices were sent to 191,925 homes, or one in 686 households, the Irvine, California-based data firm said today in a [...]
Thousands of Foreclosures Across Georgia Could Violate State Law
August 6, 2012 | Posted by
Thousands of the foreclosure sales that will take place this Tuesday on courthouse steps across Georgia could violate state law, consumer advocates say, because banks aren’t complying with a court ruling affirming a 2008 statute meant to give struggling borrowers a fairer shot at saving their homes. The ruling last month involves the way mortgage [...]
Evander Holyfield Moves Out Of Foreclosed Mansion
July 10, 2012 | Posted by
The massive home Evander Holyfield had built in an Atlanta suburb was not only his over-sized home, but it also was where he hosted underprivileged kids annually and especially during his enormous July 4th barbeque and fireworks display. Sadly today, the former heavyweight champion moved out of the 109-room mansion that rests on 235 acres. [...]
Mortgage Relief Program Benefits Banks More Than Homeowners
June 19, 2012 | Posted by
A new revision of a government program designed to aid struggling homeowners will also provide revenue for big banks. The program will help homeowners refinance when they owe more on their homes than their properties are actually worth. But the program could earn lenders up to $12 billion for their involvement. The new version of [...]
Evander Holyfield Sells House, Still Owes Millions
June 9, 2012 | Posted by
Boxing great Evander Holyfield reportedly sold his massive Georgia mansion for $7.5 million back in March, but it’s still only half of the amount that he owed the bank for the house, according to a report on TMZ. In addition, Holyfield owes more than $200,000 in back taxes to the federal government. Holyfield’s house outside [...]
