Eureka Realty Network's (eurekarealtynetwork) Blog

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Services for Real Estate Pros - Eureka Group
RECENT BLOG POSTS
Senator Ted Kaufman used a baseball analogy at a Capitol Hill hearing Wednesday as he tried to put into perspective a key defect of the Home Affordable Modification Program (HAMP), a defect that watchdog groups and experts have been lamenting for months now. "What matters is not how often you swi...
11/04/2010
According to the latest data released this week, the nation's biggest banks are holding monstrous volumes of soured home loans. The housing crisis made major lenders gather an ocean of non-performers, and added exposure to early delinquencies, meaning they could gather more. Weiss Ratings, an ind...
10/28/2010
The COP (Congressional Oversight Panel) who is in charge of keeping a watch over TARP (Troubled Asset Relief Program) funds is concerned about accountability and potential conflicts of interest because of the Treasury's extensive use of private contractors to carry out functions related to TARP f...
10/21/2010
The recent robo-signing scandal, lender's breaking the law in the rush to work through the still-growing backlog of cases, made the entire industry and servicing procedures to crumble with every eye on the government, waiting for their response.Consumer advocacy groups and a number of state attor...
10/14/2010
It started with GMAC and now continues with JP Morgan Chase, which said a couple of days ago that it will delay more than 56,000 foreclosure proceedings due to paperwork that was "signed without the signer personally having reviewed those files." This leads us to raise questions like: do the othe...
10/02/2010
The financial system is still burdened by toxic assets, even after two years since the peak of the financial crisis.  There is still the need for the federal regulators to make a move. Recently they took over three key lenders to the US credit unions, after losses on mortgage investment threatene...
09/30/2010
Miguel Ortiz and his family worked hard to open a day-care center in their home located in the Chicago neighborhood of Rogers Park. Their plan was to supply free and affordable child care to low income families in the neighborhood with a safe place for children to go after school. The foreclosure...
09/23/2010
According to Housing and Urban Development Secretary Shaun Donovan, the Obama administration has plans to set up an emergency loan program for the jobless and a government mortgage refinancing effort in the upcoming weeks. The action comes as a reply to the sudden home sales drop in July. "The Ju...
09/16/2010
The performance metric used to measure if assisted home owners are having difficulties (re-defaulting) on their modified mortgages financed by U.S. tax payers is hardly criticized by experts. After the monthly Obama administration review of the report on the path breaking foreclosures prevention ...
08/14/2010
According to a recent study by an MIT (Massachusetts Institute of Technology) economist and two Harvard University researchers properties facing foreclosure worth 27% less than the standard sale price and account for a much steeper price drop than other forced sales. If the property is for sale b...
08/07/2010
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