PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Bank Settlement Brings a Spike in Foreclosure Activity

In California and around the country, foreclosure rates are on the rise again after last year's dramatic decline.

2012-08-03
August 03, 2012 (Press-News.org) Bank Settlement Brings a Spike in Foreclosure Activity

Foreclosure rates plummeted in 2011 due to widespread allegations that the nation's biggest mortgage lenders had committed improprieties in the foreclosure process by failing to verify the documentation in thousands of foreclosures across the country. Prompted by the so-called "robo-signing" scandal, several major mortgage lenders suspended their foreclosure activities during the investigation and ensuing settlement negotiations with state and federal government officials.

In February 2012, five major mortgage lenders settled with the government for $25 billion, with the funds intended to provide relief to struggling homeowners and those who had been improperly foreclosed upon. The settlement was formally approved in April, clearing the way for banks to resume processing foreclosures and begin working through the massive backlog of delinquent mortgages that had built up during the moratorium.

With lenders working hard to make up for lost time, foreclosure rates have rebounded in recent months to levels even higher than those seen prior to the robo-signing controversy. In May 2012, the first month after the settlement agreement was approved, foreclosure rates increased by 16 percent over the previous year's figures, breaking a 27-month run of annual declines, Reuters reported.

Preventing Foreclosure in California

For California homeowners who are behind on their mortgage payments, there are several options that may be available to help save their homes from foreclosure, including:
-Mortgage modification: Involves renegotiating the terms of your mortgage to reduce your monthly payments, often by extending the term of the repayment period or adjusting the interest rate
-Refinancing: Replaces your existing mortgage with a brand new loan that has different terms
-Forbearance: Allows you to temporarily reduce your monthly payment amount or suspend payment altogether for a specific period of time to deal with short-term financial difficulties
-Principal reduction: Provides assistance to homeowners who are experiencing financial hardship and are "underwater" on their mortgages, meaning that the amount currently owed on the mortgage is more than the value of the home

Bankruptcy is another option for people facing the potential loss of their homes due to unmanageable debts. Although it is not right for everyone, Chapter 13 bankruptcy can be a powerful tool to help stop foreclosure and eliminate debts, allowing borrowers to get back on track with their mortgage payments and keep their homes. For more information about stopping foreclosure with bankruptcy, and to learn whether bankruptcy might be the right solution for you, discuss your situation with a knowledgeable bankruptcy and foreclosure assistance attorney.

Article provided by Thomas F. Miles, Attorney and Counselor at Law
Visit us at http://www.eastcountysandiegobankruptcylawyer.com


ELSE PRESS RELEASES FROM THIS DATE:

Divorce Can Impact Finances

2012-08-03
Divorce Can Impact Finances Most people are aware of how divorce can affect a person emotionally and socially. Few people consider the changes that divorce can bring to a person's financial situation, however. People considering divorceshould be aware of the ways that divorce may impact them financially. Two Households When married people split, they create two households where there was previously only one. As such, they necessarily double their living expenses such as rent or mortgage payments, utilities, groceries, homeowner's or renter's insurance, health insurance ...

Staying Together for the Children May Do More Harm Than Good

2012-08-03
Staying Together for the Children May Do More Harm Than Good Conventional wisdom promotes parents staying in an unhappy marriage "for the sake of the children." Many believe that children are better off with both parents in the home, even if the parents' marriage has failed. However, some experts suggest divorcemay be more beneficial for children than having parents who are together and unhappily married. Happy Parents Are Good Role Models Parents who are happy generally raise children who are happy. The parenting skills of those who are trapped in failed ...

More Divorced Women Are Paying Child Support, Alimony

2012-08-03
More Divorced Women Are Paying Child Support, Alimony Divorce attorneys are seeing a growing number of women pay alimony and child support to former male spouses in California and across the country. The trend represents thousands of women paying their former husbands in a reversal of traditional divorce roles. According a survey of the American Academy of Matrimonial Lawyers, half of divorce attorneys have seen an increase in the number of divorced women paying child support and alimony, which is also known as spousal support. Why Are More Women Paying? The ...

"Grey Divorces" on the Rise

2012-08-03
"Grey Divorces" on the Rise Divorce professionals are witnessing a steady rise in the number of divorces involving couples over age 50 -- so-called "grey divorces." Researchers are pointing to a number of reasons for this trend. Baby boomers in most grey divorces have more self-oriented expectations about marriage. Many are deciding to focus on personal goals and interests after they've finished raising their kids. With life expectancy increasing, many marriages are now ending in divorceas couples seek fulfillment in retirement as singles. Statistics Whatever ...

Take Action to Avoid Foreclosure

2012-08-03
Take Action to Avoid Foreclosure Since the U.S housing bubble burst in 2005, a wave of home foreclosures has crashed over the nation. The number of people who lost their homes to foreclosure in the years since then has reached unprecedented levels. While the economy shows signs of improvement, many homeowners in Kentucky and across the U.S. are struggling to make mortgage payments and are worried that they might lose their homes. Many feel like they have no options, but there are steps people can take to prevent foreclosure. Getting Rid of the HouseIf a homeowner ...

e-DBA nominated for three UK Oracle User Group Awards (UKOUG)

2012-08-03
e-DBA, an Oracle Platinum Partner specialising in the provision of Oracle Software, Hardware and 24/7 managed services, has been nominated for three awards by the UK Oracle User Group. These nominations, which recognise the company's success in the past year, are for Oracle Managed Service Partner of the Year, Oracle Database Partner of the Year, and Oracle General Business Partner of the Year. UKOUG provides Oracle users with the opportunity to influence the design, efficiency and technology that is vital to the Oracle community. The membership organisation was developed ...

Meet Dr. Aaron Wood, The Newest McKinney Dentist

2012-08-03
Dr. Aaron Wood is the newest dentist to join the practice at McKinney Dentist, joining Dr. Berlin, Dr. Markham, and Dr. Lynch in providing top quality care for residents of McKinney, TX and the surrounding areas. About Dr. Wood Dr. Wood was born in Houston but spent most of his growing up years in Utah. He earned a bachelor's degree in Chinese from Brigham Young University before moving to San Antonio to attend dental school at the University of Texas Health Science Center. His passions for dentistry and helping people make him one of the best dentists patients could ...

Producer Myles William Announces The Release of The Jay Watts Mixtape "King"

Producer Myles William Announces The Release of The Jay Watts Mixtape "King"
2012-08-03
On July 20, seemingly against all odds, Jay Watts mixtape "King", a Myles William production, was released. The mixtape is currently available on DATPIFF.com. http://www.datpiff.com/Jay-Watts-Jay-Wattsking-mixtape.375301.html. Fueled by the findings of a cancerous mass on his kidney Jay Watts contacted New York City producer, Myles William, and set up a session to record his entire mixtape. Myles said, "I was upset to hear about what was going on with Jay Watts. Its not right when you hear about a 19 year old with a serious health issue like this, but ...

The Lozano Law Firm, PLLC Has Expanded Operations to Help With the Deferred Action Process

2012-08-03
The Lozano Law Firm, a San Antonio and San Angelo TX immigration law firm, has expanded operations by expanding offices and hiring additional staff to help with the new Deferred Action process. "Unfortunately there is incorrect information being disseminated to the public regarding the new policy and Deferred Action process. It is important to receive correct information from an expert before taking action," said Attorney Alfredo Lozano, the owner of The Lozano Law Firm, PLLC. As of June 15, 2012 the U.S. Government has stopped deporting certain undocumented ...

Gentell Releases New Product Packaging

2012-08-03
Gentell, Inc. (www.gentell.com), a leading manufacturer of wound and skin care products has released its first products in a new generation of packaging. "After testing many designs with nurses and retailers," says Gentell founder and Executive Vice President, David Navazio, "we learned that our customers want clear identification and product benefits so that they can easily select the correct product under stressful conditions." Since its founding in 1994, Gentell has been a leader in Hydrogel, which speeds wound healing by maintaining a moist environment. ...

LAST 30 PRESS RELEASES:

NHS urged to offer single pill to all over-50s to prevent heart attacks and strokes

Australian researchers call for greater diversity in genomics

The pot is already boiling for 2% of the world’s amphibians: new study

A new way to predict cancer's spread? Scientists look at 'stickiness' of tumor cells

Prehistoric bone tool ‘factory’ hints at early development of abstract reasoning in human ancestors

Study: Vaping does not help US tobacco smokers quit

Insect populations are declining — and that is not a good thing

Scientists discover genes to grow bigger tomatoes and eggplants

Effects of combining coronary calcium score with treatment on plaque progression in familial coronary artery disease

Cancer screening 3 years after the onset of the COVID-19 pandemic

Trajectories of sleep duration, sleep onset timing, and continuous glucose monitoring in adults

Sports gambling and drinking behaviors over time

For better quantum sensing, go with the flow

Toxic environmental pollutants linked to faster aging and health risks in US adults

Jerome Morris voted AERA President-Elect; key members elected to AERA Council

Study reveals how agave plants survive extreme droughts

Aligning Science Across Parkinson’s (ASAP) launches a second funding opportunity to accelerate novel tool development to advance Parkinson's disease research

New study: Eating mangos daily shown to improve insulin sensitivity and blood glucose control

Highly radioactive nuclear waste – how to keep it from oblivion

Generations ‘sync’ up in rural ‘glades’ to boost technology use for health

Unveiling the mechanism of maintenance of replication and transcription in mitochondria

Pioneering research into brain cancer is awarded the world’s largest brain research prize, The Brain Prize

Concrete evidence: Japanese buildings absorb 14% of cement production's carbon footprint

New study examines how physics students perceive recognition

For some, childhood adversity can promote resilience to anxiety disorders

A sustainable iron catalyst for water oxidation in renewable energy

Cloud–radiation feedbacks found to be key to the diverse tropical pacific warming projections

Body image perceptions take shape from early childhood, psychologists reveal

Can long-term use of anti-inflammatory medications prevent dementia?

Review supports introducing small amounts of food allergens during early childhood

[Press-News.org] Bank Settlement Brings a Spike in Foreclosure Activity
In California and around the country, foreclosure rates are on the rise again after last year's dramatic decline.