Thursday - November 1, 2012 - ForeclosureGate Gazette

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Thursday - November 1, 2012 - ForeclosureGate Gazette

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THURSDAY, NOVEMBER 1, 2012

ACADEMIA

ADVERSARIES

ADVOCATES

BLOGOSPHERE

LEGAL

LEGISLATE

OP-ED

HOMEOWNERS NEWS

ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Occupy Minnesota fights the banks On April 17 of this year — Tax Day — a modern David vs. Goliath struggle unfolded at a US Bank annual shareholders meeting at the Minneapolis Convention Center. Monique White, a black single mother who works two jobs, took an audience microphone and confronted the bank's CEO, Richard Davis, during a routine shareholder question-and-answer session. "I'm not asking for a handout," said White, who lives in north Minneapolis, Minnesota's most impoverished neighborhood. "I'm just asking you to meet me halfway and renegotiate my loan to make it affordable….

When Churches Face Foreclosure On Aug. 8, Pastor Steve Munsey addressed his congregants at the Family Christian Center in Munster, Ind., with some very serious news: the church owed $750,000 in back payments on its mortgage and was facing foreclosure. The story of the church's problems might seem unusual, if only for the prominence of its subject: Family Christian Center is among the largest congregations in the U.S., and Munsey has been a familiar national presence….

Home Resales Retreat From a 2-Year High (Reuters) — Home resales retreated in September from a two-year high, a reminder that America’s housing sector is a long way from a full recovery despite recent signs of improvement. Existing home sales fell 1.7 percent last month, to a seasonally adjusted annual rate of 4.75 million units, matching the median forecast in a Reuters poll, data from the National Association of Realtors showed on Friday….

Freddie's Foreclosure Plan Hits Roadblock Freddie Mac is engaged in a tug of war with both its regulator and Wall Street over a plan to provide loans to investors that are buying homes in foreclosure to rent them out. The governmentbacked mortgage giant is pushing to finance such investors to help jump-start a housing recovery. But the Federal Housing Finance Agency has put those plans on hold, concerned Freddie's cheap debt would make it difficult for…

In Presidential Debate, A Missed Opportunity For Romney To Press Obama On Foreclosure Policy He name-checked Big Bird, but didn't once mention foreclosures. In an hour-and-a-half debate on an economy still shell-shocked by the housing crisis, Republican presidential nominee Mitt Romney's sole critique of President Barack Obama's policy was that regulators are taking too long to write new mortgage guidelines, and that….

An Enigma in the Mortgage Market That Elevates Rates Imagine a 30-year mortgage on which you only pay 2.8 percent in interest a year. Such a mortgage could already exist, but something in the banking system is holding it back. And right now, few agree on what that “something” is. Getting to the bottom of this enigma could help determine whether mortgage lenders are dysfunctional, greedy or simply trying to do their job in a sensible way….

Ten cities that just can’t turn housing around Since the peak in early 2006, the median price of a U.S. home is down by a third. And though the market has begun to show signs of having bottomed, prices are still down nationally by 1.9% from last year and are expected to fall an additional 1% from the beginning of this year through 2013. Of the 384 largest housing markets measured by real-estate data company Fiserv, 69 have seen home prices fall more than the national average….

Credit Access Following a Mortgage Default Borrowers who default on mortgages return to the mortgage market at extremely slow rates. Only about 10% of borrowers with a prior serious delinquency regain access to the mortgage market within 10 years of their default. Borrowers who terminate mortgages for reasons other than default return to the market about two-and-a-half times faster than those who default. Renewed access to credit takes even longer for subprime borrowers with a serious delinquency on their record….
>>>>>>> ‘Mortgage Seizure Via Eminent Domain For Community Stabilization’ Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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