Foreclosures | Mortgages | Financing
Thousands of underwater borrowers in Georgia have applied to take advantage of money available in the state from the Hardest Hit program.
The Hardest Hit Fund was created in 2010 to help borrowers in housing markets that were most negatively impacted by the housing crisis.
An announcement indicated $110 million is available in Georgia from the program, which is funded through the Troubled Asset Relief Program.
From:: Financing
Tropical storm Nicole intensified to hurricane strength on Thursday, with maximum sustained winds of 70 mils an hour, according to the National Hurricane Center. The storm was located about 345 miles south of Bermuda and was expected to run north-northwest later in the day. “Some additional strengthening is likely over the next day or so, followed by slow weakening,” said the NHC in its latest advisory. The news came as hurricane Matthew, now a category 4 storm, was headed over the Bahamas and toward Florida, where it’s expected to make landfall by Friday.
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From:: Stock Market News
The owner of a defunct mortgage firm is accused using fake appraisals and fraudulent documents in a multi-million-dollar mortgage fraud conspiracy.
Century III Home Equity opened in 1994 and enabled founder James Nassida to purchase a $1.3 million house, a vacation home and an Aston Martin.
The motto for the South Hills, Pennsylvania, company, which grew annual production to 700 units, was, “We do what it takes to get the loan closed.”
From:: Financing
Oil futures climbed Thursday, with West Texas Intermediate crude topping $50 a barrel to score its highest settlement since early June. Prices got a boost from expectations that Hurricane Matthew will disrupt supplies, leading to another weekly drawdown in the nation’s stockpiles. November West Texas Intermediate crude rose 61 cents, or 1.2%, to settle at $50.44 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since June 9, according to FactSet data.
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From:: Stock Market News
Homeowners in California are using the affordability crisis to their advantage. With the rising home prices, comes a rising availability of home equity. Homeowners choosing to using this equity increased by 15% in the past year. …read more
From:: Real Estate Wire
Although there was a quarterly improvement in the performance of home-equity loans, the rate of late payments deteriorated on home-secured credit lines.
As of the second quarter of this year, delinquency of at least 30 days on closed-end installment loans owned by the nation’s banks came in at 1.35 percent.
Thirty-day delinquency on consumer credit, which reflects payment performance on eight closed-end installment loan categories, was the lowest on record.
From:: Financing
The ground-floor commercial space in the Home Tower Condominium just off Young Circle in downtown Hollywood has been targeted for foreclosure.
Miami-based Pacific National Bank filed an amended complaint demanding foreclosure on Sept. 23 against Hart District Ltd. The lawsuit was filed in 2012 as a contract and debt complaint, not a foreclosure. The case was on hold for several years during a loan modification agreement. The amended complaint claims that Hart District went into default in September… …read more
From:: biz journal foreclosures
Walt Disney Co. plans on closing its theme parks, water parks and other properties in central Florida by 5 p.m. Eastern Time
Thursday as Hurricane Matthew barrels toward the U.S.’s East Coast, the company announced on its website. The closures also include Disney’s miniature golf courses and ESPN Wide World of Sports Complex. The company said it is “taking precautions” for its current guests. Hotel and dining cancellation fees will be waived if the plans were affected by the hurricane.
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From:: Stock Market News
Hurricane Matthew is getting closer to the U.S. every hour, and could turn out to be one of the largest storms in decades. Data from CoreLogic shows the damage this storm could cause to homes in the area. …read more
From:: Real Estate Wire
European Central Bank Vice President Vitor Constancio denied reports that ECB officials had discussed tapering the central bank’s massive bond-buying program. Constancio told Bloomberg News that there’s no foundation to the rumors, and that stimulus will continue until inflation starts rising toward the central bank’s target. U.S. stocks trimmed their losses on the news, while the euro weakened against the dollar and Treasury yields moved lower. The S&P 500 index was up two points in recent trade at 2,161, while the euro was down 0.4% at $1.1162. Treasury yields pared an early rise, with the 10-year up 1.6 basis points at 1.720%. Earlier in the week, Bloomberg reported that the ECB had reached an “informal consensus” that its monthly bond purchases would need to be gradually reduced once the decision has been made to end the program. An ECB spokesman quickly denied the report, it didn’t stop U.S. stocks from tumbling and the euro from shooting higher.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News