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Michigan Foreclosure Process News

Another View: Michigan law is a big help in averting many home foreclosuresTuesday, July 19, 2011 @ 12:36PMThe law which was due to sunset July 5 requires that lenders notify homeowners before initiating the foreclosure process. It also requires that lenders meet with homeowners to try and work something out to avoid the foreclosures that hurt us all.

Unemployed homeowners facing foreclosure may get more time under new federal requirementsThursday, July 7, 2011 @ 1:11PMHomeowners with mortgages backed by the Federal Housing Administration may be eligible for a 12-month forbearance.

County lawsuits say Fannie Mae, Freddie Mac dodge taxesFriday, June 24, 2011 @ 5:47AMIn a new wrinkle to Michigan's foreclosure crisis, two counties say they and the state's public schools lost tens of millions of dollars because home-mortgage lenders -- especially government-backed giants Freddie Mac and Fannie Mae -- have avoided paying the state's property-transfer tax.

Fitch Takes Various Actions on CSFB 2003-C3Monday, June 20, 2011 @ 11:17AMNEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded six classes of Credit Suisse First Boston Mortgage Securities Corp., series 2003-C3 (CSFB 2003-C3) commercial mortgage pass-through certificates. A detailed list of rating actions follows at the end of this release. The downgrades reflect Fitch modeled losses of 4.56% of the remaining pool; modeled losses of the original pool are at 3.88 ...

Links 6/17/11Friday, June 17, 2011 @ 5:11AMCommentary on current economic and financial news.

Foreclosures: Lenders repossessed fewer U.S. homes in MayThursday, June 16, 2011 @ 10:27AMLOS ANGELES -- The number of U.S. homeowners who were put on notice for being behind on their mortgage payments fell in May to the lowest level since 2006, the result of a slowing housing market and lingering delays in banks' foreclosure process.

"Hardest Hit" Program Helps With Foreclosure and Mortgage WorriesFriday, June 10, 2011 @ 5:03PMA new program is available to those who are worried about foreclosure, or making their mortgage payments. "Hardest Hit" has brought almost $500 million dollars in federal money to Michigan.

Xetus' Loan Management System Provides Seamless Compliance With New Treasury Mandate for Single Relationship ManagerWednesday, June 8, 2011 @ 1:37PMServicers Begin to Deploy XetusOne's Newly Enhanced LMS to Track Confidential Borrower Information and Stay Ahead of Treasury's New Requirement for Single Point of Contact for Borrowers

Worker finds corpse inside Genesee County Land Bank homeSaturday, May 28, 2011 @ 11:06AMAn employee of the Genesee County Land Bank found a dead man inside a property the agency owns Thursday, and police said the death appears to have been a suicide.