Buying and selling real estate in the communities of Long Island
BloggersValerie Kellogg Kristin Lavin Taveira Maura McDermott Lisa Doll Bruno
New York's top prosecutor has sued Wells Fargo and reached an accord with Bank of America over allegations that the two banks violated terms of a $25 billion settlement over mortgage abuses.
The most critical problems involve delays in processing homeowners' requests for help, state Attorney General Eric T. Schneiderman said at a news conference Wednesday.
"If you are a homeowner...Read more »
CitiMortgage representatives will meet with homeowners this weekend in Hauppauge to discuss mortgage modifications, refinancing and other potential help for those in distress.
The one-on-one consultations will take place on Saturday from 8 a.m. to 4 p.m. at the Upsky Long Island Hotel at 110 Motor Pkwy.
Homeowners should bring their mortgage account number; pay stubs for the last 60...Read more »
U.S. home prices are up about 10 percent right now from the same time last year, multiple national reports have shown, yet local reports have indicated that Long Island's appreciation is just half of that -- or even less.
The closely watched Case-Shiller Home Price Index most recently reported a 9.3 percent nationwide increase, while a similar measure from market analytic firm CoreLogic, released...Read more »
Do you know enough about mortgages to make a home purchase? According to Zillow, there's a good chance you don't.
The online real estate firm gave an eight-question quiz on mortgage basics to a nationally representative sample of prospective and current homeowners, and 32.5 percent of respondents couldn't answer them all correctly.
Well, a full 34 percent of those...Read more »
For years since the crash, Long Island's mortgage delinquency rate has stood far above the national average. But it declined rapidly during the first three months of the year, at a pace that's more than 5 percentage points faster than the nation as a whole. It's an especially impressive feat when you consider the U.S. rate dropped more precipitously than ever before.
Just 5.87 percent of mortgage...Read more »
The number of Long Island homeowners whose mortgage debt surpassed their homes' value surged last year.
Nearly 1 in 10 Long Islanders with mortgages -- 9.9 percent, or 53,639 households -- owed more than their homes were worth at the end of 2012. That share was up 3.1 percentage points from the same time in 2011, when 36,594 households were "upside down" on their mortgages, according...Read more »
Nearly 700 distressed homeowners on Long Island have received legal help and housing counseling funded by last year’s $25 billion settlement with mortgage lenders, the state’s top law enforcement officer said Wednesday.
Plus, more than 150 Long Islanders who suffered Sandy storm damage have benefitted from assistance such as help dealing with insurance companies and the Federal Emergency Management...Read more »
Five of New York’s largest mortgage lenders are offering help this week with the release of superstorm Sandy insurance settlements.
Representatives from JPMorgan Chase, Wells Fargo, Bank of America, CitiMortgage and Ocwen Loan Servicing are available at the state Department of Financial Services’ Disaster Assistance Centers through Saturday. In addition, representatives from Assurant will...Read more »