Well, the 2014 tax lien sales in Arizona are complete. I attended the Pima County tax lien sale where over $10 million dollars of tax liens were sold over the course of two days. What was readily apparent from the beginning is that investors looking to fetch high interest rates on tax liens were going … [Read more…]
The Mortgage Debt Relief Act of 2007 has survived the "fiscal cliff," which will invariably lead to a continued increase in the number of short sales nationwide. The "fiscal cliff" deal will extend the Act for another year, meaning that homeowners who receive debt forgiveness resulting from a foreclosure, deed in lieu, or short sale … [Read more…]
So, the election is over and the "fiscal cliff" is awaiting. Will The Mortgage Forgiveness Debt Relief Act of 2007 (the "Act") be extended? Given its bi-partisan support in the past, I would venture to say that it likely will be extended another year. The extension of the Act is a concern for many given … [Read more…]
Arizona will receive $1.6 billion of the purported $25 billion joint federal-state settlement with the nation’s five largest mortgage servicers for their role in wide-spread servicer and foreclosure abuses. Arizona Attorney General Tom Horne’s decision to join the broad settlement also means that his office has reached an agreement with Bank of America over allegations … [Read more…]
Bank of America, which bought Countrywide Financial for $4 billion in stock in early 2008, has come under pressure from the Massachusetts Attorney General, as a result of Countrywide’s notorious lending practices. Bank of America’s move is part of an agreement to settle claims over certain high-risk loans made by Countrywide. See link to Wall … [Read more…]