Non-government holders of delinquent mortgages are offering more payment plans with debt forgiveness as Fannie Mae and Freddie Mac resist, according to the U.S. Office of the Comptroller of the Currency. Principal reductions were granted in 8.5 percent of the 116,153 delinquent mortgages that received permanent modifications in the fourth quarter, according to a report by the unit of the Treasury Department. That’s up from 8.1 percent in the prior three-month period. Debt forgiveness was included in 16 percent of loans held by private investors, 25 percent of loans held in bank portfolios and in none owned by the government-run companies. Read more at Boston Globe How do you feel about this? Let TITLE JUNCTION know!

Since the September 2008 conservatorship, Fannie Mae and Freddie Mac have completed nearly 1.1 million loan modifications, according to the FHFA’s fourth quarter 2011 Foreclosure Prevention and Refinance report. Overall, the GSEs have completed more than 2.1 million foreclosure prevention actions since the same time period. “Data from the Office of the Comptroller of the Currency show that in the two years ending in the third quarter of 2011, modifications on Fannie Mae and Freddie Mac loans accounted for 40 percent of all loan modifications,” said General Counsel for the FHFA Alfred M. Pollard in a written testimony before congressmen Monday. For just the 2011 fourth quarter, about 71,100 loan modifications were completed, compared to about 83,500 in the third quarter. Pollard said a contributing factor to the decline in modifications seen may be that the initial backlog of eligible borrowers in 2009 has been addressed to some extent, and added the GSEs offer substantial incentive pay...

What are your thoughts about the NEW iPad3 coming out so soon after the iPad2? Are you buying one, updating the one you already own, or could just really careless?? Title Junction wants to know!! Also, if you do have one or are looking into purchasing one ~ what will be your main use for it? and what are some of your favorite Apps?

Despite a prolonged downturn in the housing market, real estate is still the best long term investment, according to 84% of respondents in OwnAmerica's recent survey on real estate investing. Comparatively, stocks/mutual funds, bonds and savings accounts were ranked best by only 9.9%, 4% and 2%, respectively. Among the respondents who have invested in real estate, 81.6% say they have made money and 82% expect real estate values to "definitely" appreciate over the next ten years. (53.5% believe property values will definitely increase over the next five years.) "The most significant outcome of this survey is the overwhelming confidence in a long-term recovery. People understand now, more than ever, that building wealth in real estate takes time." says OwnAmerica CEO Gregory Rand. Investors cited Florida (15.4%), California (11%) and Virginia (8.8%) as the states in which they are most interested in investing. Others to make the list include: Colorado, North Carol...

Homeowners in Florida, along with those in California, will get more than half of the $26 billion settlement the nation's attorneys general reached Thursday with the nation's biggest bank over foreclosures abuses, because the state has so many delinquent loans and underwriter properties. Attorney General Pam Bondi and the top legal officers in nearly every other state announced the deal Thursday, a settlement that will bring in $8.4 billion in Florida. That amount was second only to California. The bulk of that is for loan modifications, including principal reduction, with about $170 million available for cash payments to Florida borrowers who lost their home during the most recent economic turmoil. The banks, Bank of America, Wells Fargo, JPMorgan Chase, Citigroug and Ally Financial will reduce balances for almost 1 million households and send checks of about $2,000 to about 750,000 Americans who lost their homes to foreclosure improperly, the attorney general said. The settle...