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“We tell them, ‘Don’t fall for that scam; don’t give them your keys,’ “ Brien said he tells homeowners and their tenants, referring to banks and other lenders trying to get them out and rush through foreclosures. “You don’t have to leave until you’re evicted by a judge.”

Brien, a retired accountant who turns 83 on May 19, has been clipping foreclosure notices and then knocking on doors to educate homeowners and tenants about their rights for nearly a year as part of a program run by the Merrimack Valley Project, an Essex Street non-profit that advocates for homeowners, tenants, immigrants and workers in the region.

http://www.eagletribune.com/local/x326076066/City-Council-requires-media...

The Third District Court of Appeal recently issued an opinion that is a game changer for third-party purchasers of condominium units at foreclosure sales.  The Third District’s opinion in Aventura Management, LLC v. Spiaggia Ocean Condominium Association, Inc., Case No. 3D11-2545 (Fla. 3d DCA 2013), absolves third-party purchasers of responsibility for a prior owner’s past-due maintenance, assessments, and late fees in circumstances where a condominium association has previously foreclosed on a lien.

Condominium associations have suffered through the economic downturn due to lost revenue from unit owners who have defaulted on their obligations to pay regular maintenance and special assessments.  In order to try to recoup some of these losses, many associations have taken advantage of the provisions of Florida law that create a lien in favor of condominium associations for unpaid maintenance and assessments.  

http://www.jdsupra.com/post/documentViewer.aspx?fid=dab71db5-6fd2-441b-9...

Colorado Attorney General John Suthers is investigating the Denver-based Vaden Law Firm for possibly “engaging in deceptive conduct,” by possibly committing fraud against distressed homeowners by overcharging for foreclosure services it provides.

Suthers filed a 12-page motion in Denver District Court in late April, seeking to force Vaden to comply with a subpoena it issued last December for more information on its investigation.

Many mortgage servicers are reimbursed when the foreclosed homes mortgages were backed by Fannie Mae and Freddie Mac, so in many cases costs charged by Vaden are “borne by taxpayers through government-backed mortgages,” according to the motion.

http://insiderealestatenews.com/2013/05/suthers-investigating-law-firm-o...

The California Homeowner Bill of Rights is slowing the movement of distressed properties in the West Coast state, Lender Processing Services said in a report.

HBOR is one of the more aggressive state-based pieces of legislation drafted in response to the national foreclosure crisis and the dramatic uptick in foreclosures that swept through California after the real estate market bust.

HBOR created a private right of action and numerous foreclosure rules for mortgage servicers foreclosing in the state. 

http://www.housingwire.com/news/2013/05/06/lps-homeowner-bill-rights-slo...

Sen. Warren and Rep. Cummings write that in “concealing important information about these violations,” the Fed and the OCC limit “our ability to fulfill our responsibility to conduct oversight in actions of mortgage servicing companies and to develop legislation to protect our constituents from further abuse.” The decision of the Fed and Office of the Comptroller of the Currency (OCC) to withhold such information from Members of Congress is alarming in light of the “systematic and widespread” abuses these companies were engaged in, including illegal foreclosures, charging excessive fees, and filing fraudulent affidavits in court. As the letter requests, the agencies should turn the documents over to Congress.

POGO also believes they should be released to the public.

http://www.pogo.org/blog/2013/05/20130503-are-illegal-foreclosures-trade-secrets.html

Bank of America Corp. and JPMorgan Chase & Co. say they have satisfied their obligations to help troubled borrowers under last year's landmark mortgage settlement with state and federal officials.

A few years ago, anybody buying a home to resell for a quick profit lost money instead, since home prices declined for six years straight, beginning in 2006. So if flippers are back, that's at least one sign that buyers think prices will keep going up.

Some trends in the housing market justify such optimism: Sales, like prices, are up after bottoming out in 2010. Foreclosures and mortgage delinquencies are dropping sharply. And housing affordability remains terrific, thanks largely to near-record-low interest rates engineered by the Federal Reserve.

But it's still a troubled housing market in many ways, as several panelists explained during a discussion I moderated for the recent Milken Institute Global Conference in Beverly Hills, Calif. Here are 5 signs the housing market is still far from healthy:

http://www.usnews.com/news/blogs/rick-newman/2013/05/03/5-reasons-the-ho...

Banks are getting tens of millions of taxpayer dollars through a key foreclosure prevention program to pay down borrower debt, but are also using the money to pay off their own attorney's fees and other costs associated with taking back people's homes.

In Florida, the more than $1 billion Hardest Hit program has been operating for two years, awarding struggling borrowers 12 months of mortgage payments and between $18,000 and $24,000 to bring a mortgage current.

But some homeowners exiting the program are finding themselves still in debt and on the same path to foreclosure after their lender subtracted legal costs from the Hardest Hit stipend.

http://www.mypalmbeachpost.com/news/business/taxpayers-foot-the-bill-for...

The Colorado Bankers Association (predictably) came out with guns ablaze (while they’re still legal in Colorado, anyways) against a measure introduced this week that aims to ensure a homeowner can confirm a foreclosing entity has the right to do so.

Slamming HB-1249 by Rep. Beth McCann, D-Denver, the CBA said it “could chill the housing market” and ultimately jeopardize jobs.

“The bill includes a number of troubling aspects that could severely restrict credit availability in Colorado, driving up the cost for current and future homebuyers,” the association said in a statement.

http://blogs.denverpost.com/thebalancesheet/2013/03/05/bill-giving-homeo...