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Foreclosure

BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,Sun reporter | September 26, 2006
Vicki Randles, saddled with debt from breast cancer treatment and in danger of losing her Middle River home, thought she had signed a contract for a loan to get herself back on track. Instead, she'd signed away her home. State regulators stepped in and managed what she thought would be impossible: They helped her get it back from the "foreclosure consultants" who had tricked her. Randles, 48, just received notice that her name is again on the deed after a yearlong ordeal. But many people in similar situations have not been so fortunate.
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BUSINESS
Jamie Smith Hopkins | March 12, 2012
The home next door is an empty foreclosure, the former owner long gone. But when you look up the property online , it's still in the ex-owner's name. And when you check the online court docket , you can't even tell which company foreclosed because the listed plaintiffs are the attorneys at a local law firm that specializes in foreclosure cases. Whom do you call if the house is falling apart? A task force made up of financial industry players and homeowner advocates suggested a foreclosure registry -- specifying who purchased the home at auction, who is responsible for maintenance and the name, telephone number and address of both parties.
NEWS
By Christopher Hayes | November 15, 2007
Unlike most hearings on the Hill, last week's meeting of the Joint Economic Committee actually got more interesting the longer it went on. While the first half-hour featured Federal Reserve Chairman Ben Bernanke offering his modest, softly downbeat but not panicked predictions about how the unfolding subprime mess would affect the broader economy, the last hour provided an opportunity to hear committee members give their own, often eccentric, diagnoses and...
BUSINESS
By Steve Kilar, The Baltimore Sun | September 14, 2012
A Baltimore man pleaded guilty in federal court Friday to conspiracy to commit wire fraud because he and others secured mortgages for six homes in Upper Fells Point with fraudulent information, prosecutors announced. Kenneth Koehler, 42, and his co-conspirators caused losses of more than $1 million to mortgage lenders because all six homes they purchased subsequently went into foreclosure, according to a statement from the Maryland U.S. Attorney's Office. Four of the homes were on South Chapel Street, one home was in the 200 block of South Castle Street and another was in the 2200 block of Gough Street, according to Koehler's plea agreement.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 18, 2012
A state task force is recommending a raft of changes to give Maryland homeowners a better shot at avoiding foreclosure and — when foreclosures do happen — to give neighborhoods a greater chance at recovering. The suggestions, presented Wednesday to a House committee, range from voluntary mediation before a foreclosure case is filed to tax incentives for homeowners who purchase a foreclosure. Some, including those two examples, would require legislation. But many of the recommendations are intended to be just that — recommendations.
NEWS
By Julie Scharper and Julie Scharper,julie.scharper@baltsun.com | April 29, 2009
A state delegate from Anne Arundel County is being sued for damages by a Pasadena woman who claims that he tricked her into signing over the deed to her home. Del. Tony McConkey, a Severna Park Republican and a real estate agent, is being sued by Teresa L. Milligan. Milligan's civil suit against McConkey alleges "foreclosure rescue fraud," a violation of a homeowner protection law that he voted for in 2005. In January 2006, Milligan said, McConkey offered to help her save her condo from foreclosure and to help her obtain a loan to make payments, according to court testimony.
BUSINESS
By JAMIE SMITH HOPKINS | June 27, 2008
The more you hear about foreclosures piling up, the more you may be tempted to buy one. There's a lot to consider if you do - but first things first: Finding them. A foreclosure becomes a foreclosure when the home goes to auction. Frequently, the buyer is the lender - that's what happens when there's no one else willing to bid at least as much as the lender wants. If you think there's a deal to be had, you can be that bidder. http://sdatcert3.resiusa.org/rp_rewrite. That site also lets you see how much other homes sold for recently on the streets you're interested in. Find Jamie's blog at baltimoresun.
BUSINESS
By Capital News Service | November 30, 2007
Maryland needs to change its mortgage laws, improve outreach to vulnerable borrowers and create emergency funds for families in mortgage trouble if it is going to stem a rising foreclosure rate, a task force said yesterday. The report by the Homeownership Preservation Task Force comes as Maryland's foreclosure rate shot up 370 percent from June 2006 to June 2007, moving the state from 40th in the nation to 15th for foreclosures. "The foreclosure spike is a national phenomenon, and Maryland has not escaped the challenges," said Tom Perez, secretary of the Department of Labor, Licensing and Regulation, who co-chaired the task force.
BUSINESS
By Jamie Smith Hopkins | February 15, 2008
More than 50,000 Marylanders were behind on their mortgage payments at last count in September. Homeownership advocates fear that even more will be this year, with thousands of adjustable-rate mortgages scheduled for their first resets to higher payments. Worried that foreclosure could be in your future? You have places to turn for help. Contact your lender. Lenders are more open to working something out than they were even several months ago, whether that's freezing your interest rate or temporarily forgiving payments you missed.
BUSINESS
January 21, 2001
Late home mortgage payments and the number of homes going into foreclosure increased in the third quarter last year, according to a survey by the Mortgage Bankers Association of America. The MBA's latest National Delinquency Survey showed the delinquency rate for loans on one- to four-unit homes rose almost a quarter percent to 4.04 percent during the third quarter. Loans moving into foreclosure also were up five basis points to 0.31 percent. Maryland was ahead of the national average in both categories, posting a 5.35 percent delinquency rate for loans; loans moving into foreclosure stood at 0.45 percent.
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