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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

  Article By: Cory W. Eichhorn Michele L. Stocker “According to the Florida House of Representatives, the State of Florida has been negatively impacted by the national foreclosure crisis, and, as a result, Governor Rick Scott and the Florida Legislature want to minimize the impact upon the judicial branch both in terms of funding andRead more

ecreditdaily.com | “Recipients in California and Florida have received nearly one-third of the checks distributed under the Independent Foreclosure Review, according to new data released by bank regulators. That’s out of $2.326 billion cashed or deposited as of May 31, 2013, according to a state-by-state table released by the Office of the Comptroller of the Currency, the regulatorRead more

ILYCE GLINK / MONEYWATCH / “Starting this month, some lenders are offering certain homeowners loan modifications — without even being asked. Under a new plan created by the Federal Housing and Finance Administration, mortgage servicers must offer homeowners who are three to 24 months behind on their payments a plan to help them avoid foreclosure. The StreamlinedRead more

Cameron Davis | ThinkProgress | “The number of completed foreclosures in May was down 27 percent, to 50,000, compared to May of last year, analytics firm Core Logic reported Tuesday. One million homes remain in some stage of foreclosure, although that figure is down 29 percent from a year earlier. But while foreclosure rates are downRead more

Al Sunshine | Checks earmarked for thousands of Florida foreclosure victims are finally in the process of being sent out and hundreds of millions of additional dollars more are being earmarked for new housing programs statewide. Yet there is a growing debate about where most of the money is going and if foreclosure victims are reallyRead more

winknews.com | “RealtyTrac® (www.realtytrac.com), the leading online marketplace for real estate data, today released a report showing that as of June owners had vacated 167,680 foreclosure properties nationwide, representing 20 percent of all U.S. properties in the foreclosure process. These owner-vacated foreclosures are in addition to 544,274 bank-owned homes nationwide that have been foreclosed onRead more

By Dan Levy & Heather Perlberg | “Home repossessions in the U.S. jumped 11 percent in May after declining for the previous five months as rising prices and limited inventory for sale across the country spurred banks to complete foreclosures . Lenders took back 38,946 homes, up from 34,997 in April, according to Irvine, California-based data firmRead more

by Ruth Mantell | “States where lenders must go through the court system to move a borrower into foreclosure have the highest rates of troubled properties, according to data released Wednesday. In April the three states with the highest foreclosure inventory as a percentage of all mortgaged homes in April were Florida, New Jersey andRead more

By  ILYCE GLINK / MONEYWATCH/ (MoneyWatch) So-called zombie homes are appearing on the real estate market, but they’re not built to keep out the walking dead. Hundreds of thousands of homes in the U.S. are now labeled as “zombie” foreclosures. That’s when the owner of a foreclosed home leaves only to find out years later that heRead more