When the nation’s largest banks, including Bank of America and Wells Fargo, reached a $25 billion settlement with state attorneys general from 49 states this month, some saw it as a way to address the foreclosure crisis. But some say the most remarkable thing about the settlement might be the parts of the foreclosure crisis it ignored.
Foreclosure filings in the Charlotte-Gastonia-Concord area went up by about 6.9 percent to 1,181 filings from November to December, and the overall number is up about 8.1 percent from December 2010 when there were 1,092 filings.
ATLANTA — A Senate committee has approved a bill that establishes statewide guidelines for foreclosure registries and would cap the fees cities and counties charge owners of foreclosed properties.
Foreclosure rates in the Charlotte-Gastonia-Rock Hill area increased in October to 3.49 percent of outstanding mortgage loans from 2.38 percent the same month in 2010, Santa Ana, Calif.-based CoreLogic said last week.
Bank of America said it will hold three days of free workshops and counseling for its customers who are having trouble paying home loans.
DETROIT – A published report says more Detroit homeowners and landlords are escaping property tax debts by rebuying their foreclosed properties at auction.
The former King’s Gym and Pro Shop, a 25,706 square-foot building at 3722 S. Tryon St., was sold at foreclosure on Dec. 16. Built in 1983, the building was owned by Charlotte-based Carowinds Holding, LLC and foreclosed by RBC Bank.
Strategic defaults, the practice of homeowners defaulting on their mortgage even though they have the financial capability to make the payments, are on the rise.
Foreclosures continued to be a dominant theme in the Charlotte real estate market in 2011. Although Irvine, Calif.-based real estate data tracking firm RealtyTrac has recorded fewer foreclosures in November than October, the final data on the number of homes foreclosed in Mecklenburg County in 2011 hasn’t been compiled yet.
November marked the third straight month of declining foreclosure filings for Mecklenburg County and the lowest number of filings since April 2006, according to the North Carolina Administrative Office of the Courts. There were 496 foreclosure filings in November, down 11 percent from the 558 filings in November 2010 and 4 percent lower than the [...]