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Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:12:\"user warning\";s:8:\"%message\";s:176:\"Table './themoney_2011new/nodewords_custom' is marked as crashed and last (automatic?) repair failed\nquery: SELECT pid, path FROM nodewords_custom ORDER BY weight ASC\";s:5:\"%file\";s:71:\"/home/themoney/public_html/sites/all/modules/nodewords/nodewords.module\";s:5:\"%line\";i:1384;}', 3, '', 'http://www.themoneytimes.com/tags/foreclosures', '', '54.145.13.215', 1455300400) in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:7:\"warning\";s:8:\"%message\";s:388:\"mktime(): It is not safe to rely on the system\'s timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone \'UTC\' for now, but please set date.timezone to select your timezone.\";s:5:\"%file\";s:93:\"/home/themoney/public_html/sites/all/modules/nodewords/nodewords_extra/nodewords_extra.module\";s:5:\"%line\";i:401;}', 3, '', 'http in /home/themoney/public_html/includes/database.mysql.inc on line 135

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Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:7:\"warning\";s:8:\"%message\";s:386:\"date(): It is not safe to rely on the system\'s timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone \'UTC\' for now, but please set date.timezone to select your timezone.\";s:5:\"%file\";s:93:\"/home/themoney/public_html/sites/all/modules/nodewords/nodewords_extra/nodewords_extra.module\";s:5:\"%line\";i:406;}', 3, '', 'http:/ in /home/themoney/public_html/includes/database.mysql.inc on line 135
Latest Foreclosures news and updates

Money Matters - Simplified

Foreclosures

Home prices continue to slide--Case-Shiller index

The ongoing fall in home prices in all the major U.S. cities for the eighth month in a row in February could bring back the prices of the housing sector to the same levels of the recession in 2009, finds a new survey.

Baltimore again sues Wells Fargo on loans

Baltimore -- Baltimore is again trying to sue Wells Fargo, accusing the U.S. bank of increasing foreclosures by racist, predatory lending.

After a federal judge dismissed two previous complaints, the city filed a third Thursday in U.S. District Court, the Baltimore Sun reported. It has 14 new paragraphs meant to address the issue Judge J. Frederick Motz raised in his dismissals: a lack of evidence that the lender was responsible for housing vacancies and millions of dollars in associated damages.

In his second dismissal, Motz asked the city to show why the properties would not "have been vacant in any event." The new filing attempts to respond by describing how lending to buyers who cannot afford loans leads to foreclosure.

49 states to review foreclosure cases

Washington -- Attorneys general from every state but Alabama said Wednesday they would investigate foreclosures in the wake of paperwork scandals surfacing in courtrooms.

The investigation comes on the heels of an increasing number of foreclosures marred by paperwork allegedly notarized improperly by electronic signatures or by people rushing through the documents -- not reading them in some cases, media reports say.

CNNMoney.com reported Wednesday that an increasing number of lenders had suspended their foreclosure activities to perform their own reviews of their procedures.

Obama to reject notarization bill

Washington -- President Barack Obama will not sign a bill legalizing out of state and electronic signatures for foreclosures, the White House confirmed Thursday.

The bill was passed by acclamation by the Senate Sept. 27 and by the House in April. More controversial than when it was proposed by Rep. Robert Aderholt, R-Ala., the bill has gained attention as major U.S. lenders, including Bank of America and JPMorgan Chase, have suspended foreclosures in states that require a judge's review due to a growing controversy over flawed paperwork.

Foreclosures: Buying a Home for Less

Bank foreclosures are once in a life time opportunities, to buy homes at rock bottom prices. MT explores the nitty-gritty involved in owning a bank foreclosed property, worth every dollar you invest.

Economy Still Tottery: Is it Presaging Another Recession?

If you're rejoicing that the worst of the economic crisis is over, hold on! Though Fed is giving the impression that nation's economy is resuming growth, all is not as rosy as it seems.

Toll high, but foreclosures levelling off

Irvine, Calif. -- Foreclosure activity, including default notices and home auctions, has leveled off in the United States, a national real estate firm said Thursday.

Online marketplace RealtyTrac said foreclosure filings affected 322,920 properties in May, down 3 percent from April and up less than 1 percent from the same month a year ago. At the same time, for the second consecutive month, a record number of homes were repossessed.
In May, lenders repossessed 93,777 housing units.

RealtyTrac Chief Executive Officer James Saccacio said lenders were working through "the backlog of distressed properties that have built up over the past 20 months."

Toll high, but foreclosures leveling off

Irvine, Calif. -- Foreclosure activity, including default notices and home auctions, has leveled off in the United States, a national real estate firm said Thursday.

Online marketplace RealtyTrac said foreclosure filings affected 322,920 properties in May, down 3 percent from April and up less than 1 percent from the same month a year ago. At the same time, for the second consecutive month, a record number of homes were repossessed.

In May, lenders repossessed 93,777 housing units.

RealtyTrac Chief Executive Officer James Saccacio said lenders were working through "the backlog of distressed properties that have built up over the past 20 months."

Mortgage delinquency rate rises in Q1

With an increase in the number of home owners behind on mortgage payments, delinquency rate for mortgage loans rose to a seasonally adjusted rate of 10.06 percent in the first quarter this year, according to the latest survey conducted by the Mortgage Bankers Association (MBA).

U.S foreclosures fell 9 percent in April

Irvine, Calif. -- U.S. foreclosures dropped from April 2009 to April 2010 for the first annual decrease since January 2006, online marketplace RealtyTrac said Thursday.

RealtryTrac, which calls itself the leading online broker for foreclosed properties, said there were 333,837 foreclosure filings in April, including default notices, scheduled auctions and bank repossessions.

Foreclosure filings were down 9 percent from March and 2 percent from 12 months ago, the company said.

Chief Executive Officer James Saccacio said there were "two milestones in the month that show foreclosure activity has begun to plateau -- but at a very high level that will not drop off in the near future."


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