Arizona foreclosure scam video
A new video to help stop foreclosure scams has been released by the Arizona Attorney General. The video can be seen at www.azag.gov or http://www.youtube.com/user/AZAttorneyGeneral. Money from the state’s settlement with Countrywide Financial Corp. last year funded the video. “Many families in neighborhoods all across our state are in crisis. Thousands are at risk of losing their homes to foreclosure. And the problem is made worse by some unscrupulous companies and individuals who claim they can help consumers keep their homes, when what they are really doing is stealing money and making the situation even worse,” said Arizona Attorney General Terry Goddard. Arizona homeowners facing foreclosure … read the rest...
Phoenix foreclosures fall, again
T he number of new foreclosure filings against Phoenix-area homeowners fell in May to the lowest level since July 2008. Last month, there were 6,471 pre-foreclosures, or notice of trustee sales, filed in the Valley, according to the Information Market. Foreclosures also dropped last month to 4,090, their lowest since November 2009. Phoenix-based R.O.I. Properties, led by Beth Jo Zeitzer, attributes the drop in foreclosures to federal loan modification programs, successful short sales and more investor purchases at trustee sale auctions. The U.S. Treasury Department, which manages the federal housing plan to slow foreclosures, reported increases in both trial and permanent loan modifications in … read the rest of this...
Attorney General files suit against Scottsdale loan mod firms
A lawsuit has been filed against a Scottsdale-based Discount Mortgage Relief and Mortgage Relief LLC by the Arizona Attorney General. The lawsuit alleges the company engaged in deceptive loan modification services. Attorney General Terry Goddard’s office obtained a temporary restraining order against the firms that prevents them from charging or receiving money for loan modifications. A new Arizona law that prohibits loan modification consultants from collecting upfront fees from homeowners goes into effect on July 29th. The Attorney General’s office says there could be thousands of victims, according to court documents. "I am committed to fighting deceptive practices targeted at homeowners who are struggling to make … read...
New numbers on Phoenix loan modifications
T he number of homeowners receiving help from lenders is increasing. However, many Phoenix-area homeowners are still frustrated and angry by the process. Through April, 13,330 metro Phoenix homeowners had received loan modifications, according to the U.S. Treasury Department. That’s about 1,000 more permanent loan modifications in the area since March. Another 24,496 homeowners are in trial loan modifications. Across Arizona, 16,120 loan modifications have been completed. Another 30,000 homeowners are in trial modifications. The figures to track are the number of temporary modifications that become permanent. Also, the number of homeowners who turn down loan modification offers from lenders. … read the rest of this...
More Canadians buying metro Phoenix homes
C alifornians are no longer the region’s biggest group of out-of-state buyers. Now, the dominant group of out-of-state buyers is from outside the country. Canadians bought 405 Phoenix-area houses in April, according to the Information Market. About one-fourth of the people to buy homes in metropolitan Phoenix during April weren’t from Arizona. Californians purchased 368 Phoenix homes. Buyers from Washington state were third with 146 Valley home purchases. More people from the Midwest are also investing in metro Phoenix houses. Residents of Illinois, Minnesota, Wisconsin and Iowa bought a total of 332 homes. Tom Ruff, Information Market analyst, believes the new makeup of out-of-state buyers signals … read the rest of this...