Foreclosures soared by nearly two-thirds in the Northeast last year, while the Southeast recorded a smaller surge of 37%, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm.The foreclosure spike of 64.6% in the Northeast was fueled by "a fourth-quarter filings scramble" in the New York and Boston metropolitan areas and across northern New Jersey, the company reported. Massachusetts led the way, as foreclosure filings skyrocketed 184.3%, from 8,489 in 2005 to 24,137 in 2006. The region recorded 96,101 filings in 2006, compared with 58,394 in 2005. In the Southeast, a similar "year-end scramble" helped boost foreclosure filings well over 200,000. The region ended the year with 220,189 filings, compared with 160,259 in 2005, according to ForeclosureS.com. Despite the jump, Florida yielded its distinction of leading the nation in foreclosures to California, finishing the year with 120,989 filings (a 26.8% rise), compared with 157,417 for California. The company can be found online at http://www.foreclosures.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25