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Fox23.com | “Ally Financial and its related companies are paying about $198 million to settle federal complaints that the companies wrongfully foreclosed on homeowners. The Federal Reserve announced the agreement Friday with Ally Financial, the former lending arm of General Motors known as GMAC Mortgage. Ally’s settlement is similar to accords between federal regulators and 13 otherRead more

Paul Brinkmann | South Florida Business Journal | “An apparent oversight by JPMorgan Chase Bank recently led to the dismissal of a foreclosure on Valerie Kaan’s $8 million waterfront home in Boca Raton. The bank requested dismissal of the 2008 case when Kaan’s attorney, Roy Oppenheim, objected to the sudden appearance of the original note on the loan. The bankRead more

eCreditDaily | “There is a considerably larger volume of loans in the foreclosure process in judicial states — where a judge presides — and that appears to be impeding home price recovery in those states. An analysis by the Federal Reserve Bank of New York shows that the average number of days that a mortgageRead more

Michael Sasso | Tribune Staff | “Fewer people are losing homes in the Tampa Bay area, but the region still has the nation’s sixth-highest foreclosure rate, a new ranking shows. In fact, metropolitan areas in Florida take up five of the six top spots in the nationwide ranking by RealtyTrac, a foreclosure research firm. That’s likelyRead more

Watch List News | “HARP Mortgage Lender, a national Internet network of pre-approved loan specialists qualified to deal in the Obama administration’s Home Affordable Refinance Program (HARP), reports that recent government figures see Florida borrowers using more HARP loans for deeply underwater borrowers than any state in the nation—a clear signal that updates made to the program,Read more

Shanthi Bharatwaj | NuWire | “A total of 127,790 properties had foreclosure filings in June, down 14% from the previous month and down 35% from a year ago, reaching their lowest level since December 2006, according to a report released by RealtyTrac. In the first half of 2013, a total of 801,359 properties had a foreclosureRead more

Josh Salman | Herald Tribune | “Courts across Florida are chipping away at massive foreclosure backlogs, and while that pace may accelerate thanks to a new law aimed at further expediting the process, choked court systems remain a reality throughout the state. In the 12th Judicial Circuit, which includes Sarasota, Manatee and DeSoto counties, more thanRead more

  Jose Lambiet | “According to court records, the digs on SW 112th Street in the Westwood Lake area of Miami are also owned by Sierra’s mother, Lucero, and will be sold to the highest bidder Aug. 27. Karent Sierra’s house, at 5750 SW 112 Avenue, is to be sold to the highest bidder after the foreclosure (Zillow.com) TheRead more

Linda Hersey (Editor) | Clearwater Patch “Here’s a look at the foreclosure rate for Clearwater, Pinellas County and the state as a whole. Clearwater foreclosure filings dropped by 61 percent in June compared to May, as the number of home sales continue to rise. That is the latest report from RealtyTrac, which monitors foreclosures nationwide. Find Homes InRead more

Josh Salman | Herald Tribune | “Lenders completed fewer foreclosures nationwide in May, but the rate of defaults continue to top recent years and the amount of distressed residences remains dangerously high, a new report shows. Mortgage bankers repossessed 52,000 delinquent U.S. homes in May, a 3.5 percent increase from April but down 27 percent fromRead more