Foreclosures in Minnesota fell 17 percent last year to the lowest level since 2007, according to a report released Tuesday. While foreclosure rates dropped in many areas, there are counties that saw no improvement -- or where repossessions actually increased.
Attorney General Wayne Stenehjem tells The Associated Press that North Dakota will get a direct payment of about $3 million. He says his plan is to develop a program with private industry to increase housing in oil country, particularly for newly hired law officers and emergency responders.
Minnesota Attorney General Lori Swanson and Commerce Commissioner Mike Rothman announced Minnesota's settlement today. Five major U.S. banks agreed to pay about $26 billion to reimburse American homeowners.
Conceding his earlier housing programs have fallen short, President Barack Obama on Wednesday proposed a vast expansion of government assistance to homeowners, aiming to make lower lending rates a possibility for millions of borrowers who have not been able to get out from under burdensome mortgages.
Ben Feller and Jim Kuhnhenn
, February 01, 2012
The Standard & Poor's/Case-Shiller index released today showed prices dropped in October from September in 19 of the 20 cities tracked. Prices in a majority of cities declined for the second straight month, reflecting the typically fall slowdown after the peak buying season. Prior to that, prices had risen for five consecutive months in at least half of the cities tracked.
The settlement with the U.S. Justice Department was filed Tuesday with the Central District court of California and is subject to court approval. The DOJ says it's the largest settlement in history over residential fair lending practices.
Nedra Pickler and Pallavi Gogoi
, December 21, 2011
A St. Cloud real estate agent and a Maple Grove real estate appraiser have pleaded guilty to being involved in a $1.8 million mortgage fraud scheme that involved 28 properties. Ryan Daryl Krutzig, 31, of Maple Grove pleaded guilty Thursday while Jesse Scott Hoffman, 32, of St. Cloud pleaded guilty Sept. 15.
A recent ruling from the Bankruptcy Appellate Panel of the 8th Circuit Court of Appeals said that people who file for Chapter 13 protection can discharge their second or any junior mortgage (it's called lien stripping) and still keep their house if the value of the house is less than the first, or primary mortgage.
For the lucky few with good jobs and stable finances, it's a rare opportunity to save potentially thousands of dollars each year. For most people, it's a tease and a reminder of how weak their own financial situation is.
In one of the largest theft cases in the history of Minnesota's Washington County, a Twin Cities metro county, a former Forest Lake woman has been sentenced to more than five years in prison after pocketing about $1.2 million from dozens of property transactions.
North Dakota banking officials are cautioning owners of flood-damaged homes about the consequences of giving up and walking away. Several Minot banks said Friday they aren’t seeing customers who want to abandon their homes and their mortgages.
The percentage of their homes that Americans own is near its lowest point since World War II, the Federal Reserve said Thursday. The average homeowner now has 38 percent equity, down from 61 percent a decade ago.
Christopher S. Rugaber and Derek Kravitz
, June 09, 2011
If you haven't refinanced your home with the low mortgage interest rates, do it now.
That's the advice from Scott A. Anderson, senior economist at Wells Fargo, who gave a good news-bad news talk in Duluth Friday on the state of the economy.
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