Trump offers help Ed McMahon avert foreclosure Aug 17, 2008
McMahon's mortgage lenders filed notice of default in February, when McMahon was about $644,000 in arrears on the mortgage for the Beverly Hills house. It has been on the market for about two years and the asking price in June was $5. (Reuters)
Arizona ranks second in July foreclosure fillings Aug 13, 2008
That can include notice of default, foreclosure auction and REO (lender-owned real estate after a foreclosed property reverts back to the lender). Pre-foreclosure filings are an initial notice and not all affected properties are actually foreclosed. (Phoenix Business Journal, AZ)
Pre-foreclosure filings reach a record in 14 states Aug 12, 2008
ForeclosureS.com bases its analysis on the number of formal notices filed against a property during the foreclosure process, including a notice of default, a foreclosure auction and/or lender-owned real estate after a foreclosed property reverts back to the lender. Pre-foreclosure filings are the first notice and not all such properties end up foreclosed. (Sacramento Business Journal, CA)
Foreclosures.com Aug 12, 2008
Pre-foreclosure filings set record in July - Jacksonville Business Journal. Members: Not Registered. (Jacksonville Business Journal, FL)
Pre-foreclosure filings set record in July Aug 12, 2008
California-based ForeclosureS.com bases its analysis on the number of formal notices filed against a property during the foreclosure process, including a notice of default, a foreclosure auction and/or lender-owned real estate after a foreclosed property reverts back to the lender. Pre-foreclosure filings are the first initial notice and do not all end up foreclosed. (Orlando Business Journal)
City Square on brink of foreclosure (1349) Aug 11, 2008
Four of the City Square town houses, brand-new properties at Second Avenue and Centre City Parkway, will be sold by a court-appointed receiver after the lender, Bank of America, filed a notice of default, the first step in the foreclosure process ... "The last thing we want to do is file a notice of default.". (North County Times)
Vallejo Slaps Nationwide Homebuilder With Default Notice Aug 8, 2008
A nationwide homebuilder was sent a notice of default Wednesday for failing to make a scheduled $3 million payment to the for the purchase of 17. 2 acres of school property. (NBC 11, CA)
Continue reading Aug 6, 2008
In other business, the council also unanimously approved an ordinance which will require abandoned residential property -- due to notice of default, notice of trustees sale, or that which has been the subject of a foreclosure sale -- to be registered with the City of Selma. The ordinance goes into effect on Sept. 4. (Selma Enterprise, CA)
Subordinate Debenture interest default Aug 1, 2008
The Trustee has issued a notice of default to the Company under the trust indenture. As a consequence, the Trustee may, on behalf of the holders of the Debentures (the "Holders"), declare the principal amount and the accrued amount of interest to be due and payable. (PR Newswire)
Aguirre's default Jul 25, 2008
Aguirre received his first notice of default from Countrywide on Jan. 13, 1995, according to documents filed with the San Diego County Assessor/Recorder/Clerk. He was $21,401 in arrears. (San Diego Union-Tribune -- Opinion)
Foreclosures hit record heights, especially in North Valley Jul 23, 2008
On Tuesday, council members learned that 50% of the families that lose their houses to foreclosure never seek help, that 64% of the Fresno households who received a notice of default in February lost their houses in May and that banks take over about 300 properties monthly. Help is coming from a variety of resources, including credit-counseling services and other agencies that have joined forces through the No Homeowner Left Behind program. (Fresno Bee)
Foreclosures At 20-Yr. High Jul 23, 2008
Their primary lender issued a notice of default but ultimately modified the mortgage after Merlyn Amaya, a nanny, went to nonprofit ACORN Housing for help. The couple remains several payments behind with Franklin Credit, which controls the second loan. (San Francisco Chronicle -- Business)
17,000 valley homes seized Jul 23, 2008
The median for California homeowners who were behind on their payments when their lender filed the notice of default was five months. The borrowers were behind a median $11,583 on a median $346,400 mortgage. (Modesto Bee, CA)
Northern California foreclosures up 21% in Q2 Jul 23, 2008
Notice of defaults and trustee sales climbed 21 percent in Northern California during the second quarter compared to the previous quarter, according to a report released Tuesday ... The worst foreclosure numbers in California came from the state capital of Sacramento with 11,470 notice of default and trustee sales in the second quarter of 2008 ... On the flip side, San Francisco was the least affected by the foreclosure crisis with only 601 notice of default and trustee sales in the quarter and... (East Bay Business Times, CA)
A buyer’s primer on real estate terms Jul 20, 2008
A property in foreclosure means a notice of default has been filed in the public records. The owner has stopped making mortgage payments and the lender has given notice that unless payments are brought up to date, it will sell the property to the highest bidder. (Lihue Garden Island, HA)
Law helps struggling homeowners Jul 13, 2008
-- Requires lenders to contact homeowners 30 days before filing a notice of default, the official beginning of the foreclosure process. -- Encourages banks to explore loan-restructuring options before initiating foreclosures. (San Francisco Chronicle)
Housing stable in Ames Jul 6, 2008
The report said the count includes "all three phases of foreclosure: notice of default and 'lis pendens' (the Latin legal term for "pending action," either a lawsuit or other procedure), as well as notices of trustee/foreclosure sales and properties already foreclosed and repurchased by lenders. According to the statistics, Iowa was one of the more stable states during May, with 256 "notices of trustee sales" and 194 lender repossessions, or a total of 450 for the month. Highest foreclosure... (Ames Daily Tribune, IA)
Foreclosure aid bill in hands of governor Jul 3, 2008
The bill, which came in response to California's subprime mortgage crisis, requires mortgage holders to contact homeowners by phone or in person at least 30 days before filing a notice of default and calls for discussions about alternative payment options. The bill also doubles the time preceding eviction from foreclosed rental properties from 30 to 60 days, and gives local governments the authority to fine owners of vacant lots that are not maintained. (San Francisco Chronicle)
D.A.G. sues to stay on job Jul 3, 2008
The housing agency sent D.A.G. a notice of default by e-mail on Oct. 22, according to an Oct. 23 letter from Donald Troendle, executive director of Cincinnati Metropolitan Housing Authority, to Dale White, president of D.A.G., a copy of which was filed with the court by D.A.G.. The letter cited D.A.G.'s failure to obtain an occupancy permit, to apply for a permit to install a fire alarm system, to make arrangements for telephone service, and to satisfy other requirements necessary for it to... (Cincinnati Business Courier, OH)
HOUSING: High-end neighborhoods also suffering Jun 22, 2008
At the end of March, the lender filed a notice of default, the first step in the foreclosure process. San Diego County's housing market enjoyed massive appreciation in the early 2000s, doubling in value in about four years. (North County Times)
Region's home sales rise for fourth consecutive month Jun 17, 2008
The company noted there has been a continued increase in notice of default foreclosure filings, and that foreclosed inventory is expected to increase through the summer. Foreclosed homes account for 58 percent of all existing home transactions, whether pending sales or those that have closed escrow and price-per-square-foot of sold properties continue to drop. (Sacramento Business Journal, CA)
Foreclosures Rise 48% in May as Repossessions Double (Update2) Jun 14, 2008
A homeowner usually receives a notice of default after falling more than 90 days behind on mortgage payments. If the borrower still doesn't pay what's owed, the property is sold to the highest bidder at an auction, typically held at a county courthouse. (Bloomberg)
Valley home default rates decline Jun 12, 2008
Homes typically aren't repossessed by lenders, via foreclosure auctions on the courthouse steps, until about 145 days after the notice of default is filed. Last month, 2,350 houses were foreclosed on in the three counties, including a record-high 817 in Stanislaus. (Modesto Bee, CA)
Foreclosures fell 12% in May Jun 10, 2008
Pre-foreclosure filings, such as a notice of default on a loan, also fell in May ... That can include notice of default, notice of foreclosure auction or notice of lender-owned real estate that occurs after a foreclosed property fails to sell at auction. (Sacramento Business Journal, CA)
Developer LandSource Seeks Bankruptcy Protection Jun 9, 2008
LandSource spokeswoman Tamara Taylor said then the company had received an official notice of default on a $1 billion loan, but the default situation "had not accelerated" further. LandSource is a joint venture between home builder Lennar Corp , LNR Property Corp, which each have a 16 percent stake and MW Housing Partners, which holds a 68 percent stake. (ABC News -- Wire)
Ed McMahon talks about mortgage woes on 'Larry King' Jun 6, 2008
Matt Sayles / Associated PressMcMahon was about $644,000 in arrears on the loan when the notice of default was filed, according to a source ... Matt Sayles / Associated PressMcMahon was about $644,000 in arrears on the loan when the notice of default was filed, according to a source ... McMahon's lender, Calabasas-based Countrywide Financial Corp., filed a notice of default in March on $4. (Los Angeles Times)
Sidekick problems? Jun 6, 2008
ReconTrust reportedly filed a notice of default related to a loan for Ed McMahon's house ... The newspaper reported that ReconTrust, a division of Countrywide Financial, filed a notice of default related to a loan for McMahon's house in Los Angeles County Recorder's Court on Feb. 28. (CNN -- US)
Foreclosures hit record high -- and crisis may get worse still Jun 6, 2008
Fresno County's foreclosure rate was 16th in the nation in April, with one of every 182 households receiving a recorded notice of default, according to RealtyTrac, which monitors such activity. The company said Tuesday that 1,648 notices were recorded in April in Fresno County, up 10% from March and an increase of 150% from the same period a year earlier. (Fresno Bee -- Local)
Ed McMahon Facing Home Foreclosure Jun 6, 2008
Countrywide Home Loans Inc. filed the notice of default on Feb. 28, with the amount owed to "increase until your account becomes current," according to documents obtained by Celebtv. com. (CBS News -- US)
Mortgage Mess On Mulholland... Jun 5, 2008
ReconTrust, a unit of mortgage lender Countrywide Financial, on Feb. 28 filed a notice of default on a $4. 8 million Countrywide loan backed by Mr. McMahon's home. (The Drudge Report)
U.S. veteran host Ed McMahon faces housing crisis Jun 5, 2008
8 million U.S. dollars in mortgage loans with a unit of Countrywide Financial Corp., which filed a notice of default in March. Documents show that McMahon is nearly 644,000 dollars behind in payments on the mortgage loan he got in 2005. (Xinhuanet, China)
Mortgage turmoil snares Ed McMahon Jun 4, 2008
8 million in mortgage loans with a unit of Countrywide Financial Corp., which filed a notice of default in March, according to ForeclosureRadar, a company that sells default data pulled from public records ... McMahon was about $644,000 in arrears on the loan when the notice of default was filed, the paper said. (Los Angeles Times)
Chapter 11 for Drummond ... Fuller student license bill stalled in committee ... Cerro Coso to offer new summer first-aid classes ... New site for Navy museum ... CLOTA auditions begin Thursday at Center Stage theater ... ';var marqueewidth="350px";var marqueeheight="25px";var marqueebgcolor="#FFFFFF";////NO NEED TO EDIT BELOW THIS LINE////////////var pauseit=1;var marqueespeed=1 //slow speed down by 1 for NSvar copyspeed=marqueespeedvar pausespeed=(pauseit==0)? copyspeed: 0var iedom=document.all||document.getElementByIdif (iedom)document.write(''+marqueecontent+'')var actualwidth=''var cross_marquee, ns_marqueefunction populate(){if (iedom){cross_marquee=document.getElementById? document.getElementById("iemarquee") : document.all.iemarqueecross_marquee.style.left=parseInt(marqueewidth)+8+"px"cross_marquee.innerHTML=marqueecontentactualwidth=document.all? temp.offsetWidth : document.getElementById("temp").offsetWidth}else if (document.layers){ns_marquee=document.ns_marquee.document.ns_marquee2ns_marquee.left=parseInt(marqueewidth)+8ns_marquee.document.write(marqueecontent)ns_marquee.document.close()actualwidth=ns_marquee.document.width}lefttime=setInterval("scrollmarquee()",20)}window.onload=populate;function scrollmarquee(){if (iedom){if (parseInt(cross_marquee.style.left)>(actualwidth*(-1)+8))cross_marquee.style.left=parseInt(cross_marquee.style.left)-copyspeed+"px"elsecross_marquee.style.left=parseInt(marqueewidth)+8+"px"}else if (document.layers){if (ns_marquee.left>(actualwidth*(-1)+8))ns_marquee.left-=copyspeedelsens_marquee.left=parseInt(marqueewidth)+8}}if (iedom||document.layers){with (document){document.write('')if (iedom){write('')write('')write('')write('')}else if (document.layers){write('')write('')write('')}document.write('')}}Thursday, May 29, 2008 Chapter 11 for Drummond May 29, 2008
According to RealtyTrac, Drummond's lender Ridgecrest MedL First Mortgage filed a Notice of Default against the Medical Group on Feb. 27. The property entered pre-foreclosure on March 5 with an opening bid of 4,095,000. (Ridgecrest Daily Independent, CA)
Life a 'struggle' for Laree May 22, 2008
Ms Jane, her sister Natarsha Ryan and her husband Glenn Ryan have taken Supreme Court legal action to win a ruling that the Bob Jane Corporation was not legally entitled to issue a notice of default on the T-Mart franchises at Taylors Lakes and Essendon after they ran up debts of $440,000. The three still run the franchises but the corporation is seeking an order that the franchise agreements were breached and it had a right to issue notices of default. (Melbourne Herald Sun)
California Congresswoman walked away from $578K mortgage... May 22, 2008
The vote on the MFDRA07 took place on October 4, 2007 and she received a notice of default on December 13, 2007, which means she was likely behind on her payments when she voted for the MFDRA07 ... If she owed $40,000 more upon Notice of Default (which happened in December 2007) it means she may have paid NO mortgage payments. (The Drudge Report)
Land venture involving huge pension fund seeks to redo loan May 21, 2008
LandSource received a notice of default from the banking syndicate on April 22 after missing a payment when a decline in the assessed value of the 15,000 acres of undeveloped land in Southern California's Santa Clarita Valley triggered an additional charge, Taylor said. "It was a remargining payment that was required because the land was reappraised by the bank group and the land lost value," she said. (Fresno Bee -- Business)
U.S. foreclosure filings surge 65 percent in April May 16, 2008
The April data show nearly half of the properties received an initial notice of default, suggesting many homes were new entrants to the foreclosure process. We're still sitting at roughly the same percentage of loans handled in any way successfully as we were a year ago, and the volume (of foreclosure filings) still keeps going up, said Rick Sharga, RealtyTrac's vice president of marketing. (San Diego Union-Tribune -- Business)
Foreclosures Climb 65% as Loan Workouts Fall Short (Update3) May 15, 2008
The foreclosure process typically begins when a borrower is more than 90 days late on mortgage payments and the lender files a notice of default. If the borrower doesn't pay what's owed, the property goes to auction. (Bloomberg)
‘BEARER OF BAD NEWS’ May 14, 2008
What Mr. Nakamura posts is a Notice of Default, the first step in foreclosure. Next will come a Notice of Trustee Sale. (Scranton Times, PA)
Cupertino Square shopping center in default on $195M loan May 9, 2008
"It's total gamesmanship. Why they would file a notice of default is just punitive and intended to generate the exact response it has had -- your calling me," said James R. Evans, an attorney with. Gramercy also has filed a countersuit to an April 2 complaint filed against it by Cupertino Square, Evans said. (San Jose Business Journal, CA)
Tropicana: Harbinger accumulates bonds; crossholding rumors circulate after loan default notice May 6, 2008
However, the Las Vegas entity was recently served with a notice of default by its loan holders, many of whom are rumored to be owners of the Tropicana Entertainment bonds. If the Las Vegas asset were included in a bankruptcy filing, bonds at the Entertainment level could try to stake a claim on the propertys value, said buyside and sellside source. (FT.com -- Markets)
Disputing its default; A creditor says Gateway Ethanol has defaulted on a $53.4 million loan Apr 23, 2008
Gateway Ethanol is disputing notice of default from the company that loaned them funds to build their plant. Gateway Ethanol has received notice of the defaulted loan from Dougherty Funding for 53. (Pratt Tribune, KS)
Weather the perfect storm Apr 23, 2008
" The process works like this: * Once the borrower is in arrears, the bank's asset management division takes over from customer care. * If the borrower is not in a position to pay, the bank will look to sell the property. * The lender may let the borrower sell the property privately but in some cases it may obtain an Order for Possession from the State Supreme Court. Borrowers have no defence if they are in arrears. * As soon as the borrower receives official notice of default, the loan incurs a... (The Age)
INSIDE THE MARKETS: The problem when homeowners simply walk away Apr 17, 2008
In most of the United States, foreclosures follow a sequence of an initial notice of default, then notice of a scheduled auction and finally a "REO" filing indicating repossession. If borrowers walk away, lenders can skip the auction notice and accelerate repossession. (International Herald Tribune -- Business)
Foreclosures.com ranks Florida 2nd in Q1 bank repossessions Apr 16, 2008
That includes notice of default, notice of foreclosure auction, and/or notice of foreclosed property ownership reverting back to a lender or bank after it fails to sell at an auction. Latest News. (Orlando Business Journal)
Fraudulent mortgage foreclosure scheme in Butte County warn district attorney and county-clerk reporter Apr 12, 2008
The perpetrators are contacting owners of property against which a notice of default has been recorded,the first step in the foreclosure process. The scheme is supposed to work by having the owner grant a fractional interest in the property to a sham business entity. (Gridley Herald, CA)
Answer Desk: What if I can't pay my mortgage? Mar 26, 2008
Even if youve gotten a notice of default, there are steps you can take to avoid foreclosure. One of the most important and difficult decisions is whether you think you can handle the mortgage over the long term with help from the lender. (MSNBC -- Business)
B-N lawyer named PrairieThunder president Mar 19, 2008
The letter was sent after a notice of default was sent to the team Jan. 9. Further, BMI Hockey LLC has failed to cooperate with and respond to the reasonable requests of Central Illinois Arena Management Inc. and the city of Bloomington, Mueller wrote. (The Pantagraph newspaper)
After subprime collapse, be aware of TX foreclosure laws Mar 16, 2008
Unless the lender has contracted to give the borrower written notice of default or the property securing the loan is the borrower's residence, the only notices required by Texas law to enforce the power of sale are set forth in Section 51 ... When a lien is secured by a borrower's residence, written notice of default must be sent by certified mail to the borrower providing for 20 days to cure the default before notice of sale can be given as set forth above ... Unless the lender has agreed to... (San Antonio Business Journal, TX)
In Contra Costa, evictions becoming common Mar 9, 2008
Default: When a homeowner falls about 90 days behind on mortgage payments, the lender sends a notice of default. Notice of trustee sale: Three months (or more) after the notice of default, the lender can announce that it is putting the property up for auction. (San Francisco Chronicle -- Business)
De-leveraging rolls across markets, hitting 'safer' mortgages Mar 9, 2008
an affiliate of private-equity giant Carlyle Group that invests in mortgage-backed securities, said Thursday that it failed to meet margin calls from four counterparties and had received one notice of default. De-leveraging refers generally to a reduction in the amount of money that's borrowed. (Yahoo News -- Real Estate)
How mighty Carlyle fell Mar 8, 2008
Wall Street banks such as Citi (, ) and JPMorgan (, ) - the lender that recently served Thornburg with a notice of default - have been reticent about stepping into the breach, because they have been busy conserving capital after the collapse of demand for leveraged corporate buyout loans and other recent setbacks. Those trends were all too evident Thursday and Friday, with shares of big lenders ranging from Fannie Mae to Washington Mutual (, ) testing new depths amid worries that the value of... (CNNMoney.com)
Thornburg can't meet $610M in margin calls Mar 8, 2008
Earlier in the week, Thornburg said it received a notice of default from JPMorgan Chase & Co. on a $28 million margin call. That call sparked a series of cross-defaults as well. (MSNBC -- Business)
Treasurys Rise on Rising Credit Fears Mar 7, 2008
The fund also said it received a notice of default from one of the banks that helps finance its portfolio of Freddie Mac and Fannie Mae securities. Separately, RBC Capital Markets analyst Jason Arnold wrote in a research note Thursday that Thornburg Mortgage Inc.'s disclosure of default notices could lead to the lender filing for bankruptcy. (ABC News -- Wire)
Mortgage Stocks Rocked Mar 7, 2008
The notice of default, which came from JPMorgan Chase (nyse: - - ), triggered cross-defaults "under all of Thornburg Mortgage's other reverse repurchase agreements and its secured loan agreements," the company said in a filing on Wednesday. Shares of the Santa Fe, N.M.-based company took a free-for-all, losing 49. (Forbes)
Carlyle fund receives default notice after margin calls Mar 7, 2008
A fund linked to the private equity firm Carlyle Group on Thursday became the latest investment firm to run into trouble amid deteriorating credit markets when it failed to meet some margin calls and received a notice of default. Carlyle Capital Corporation, which is based in Guernsey in the Channel Islands and invests mainly in triple-A rated mortgage securities, missed four of seven margin calls worth a total of $37 million. (International Herald Tribune -- Money Report)
Bonds: • Treasuries Up Big As Traders Seek Safety; Mortgage Turmoil Drives Volatile Session Mar 7, 2008
The day's credit gloom included news that a Dutch-listed affiliate of private equity firm Carlyle Group has not been able to meet some margin calls and has received a notice of default. Attention also centered on Thornburg Mortgage, due to worries that the "jumbo" mortgage lender might go bankrupt after its failure to meet a margin call triggered defaults under other lending agreements. (Investors Business Daily)
Thornburg under pressure Mar 4, 2008
Thornburg has already received one notice of default among the margin calls ... In a notice of default, a lender has the right to seize assets pledged as collateral and liquidate them. (San Diego Union-Tribune -- Business)
Jessica Alba: Single Baby Mar 1, 2008
There s a notice of default and a notice of trustees sale on Neverland. Jackson s people have had four months to come up with the money. (Fox News)
Jackson's Mortgage Woes Mar 1, 2008
Others, dated Feb. 7, show the notice of default was withdrawn. Jackson's Neverland property in Los Olivos (Santa Barbara County) is set to be auctioned off March 19 because of missed payments on a $24. (San Francisco Chronicle -- Entertainment)
BMO still trying to restructure trusts Mar 1, 2008
The bank said that is has a cure period of two days to fix the problem after a notice of default is given by the trustee responsible for two trusts known as Sitka and Apex. It was unclear from the bank's statement whether it had received a default notice. (Globe and Mail -- Business)
Bank of Montreal in Talks to Avert Trust Writedown (Update3) Mar 1, 2008
The bank said it has a ``cure period'' of two days after any notice of default given to the trusts. Ralph Marranca, a spokesman for the bank, declined to comment. (Bloomberg)
Huntley defaults to spotlight foreclosures Feb 29, 2008
"Mortgage companies are supposed to let their borrowers know if they will be defaulted. She never received a notice of default. She never received a notice of summons," said Huntley's attorney, Howard Birnbach, who did not find out about her foreclosure until last Thursday. Huntley said she and her husband, Herbert, sought help from the company themselves, but to no avail. (Bayside Times, NY)
Jackson failed to make mortgage payments Feb 29, 2008
Documents dated Feb. 7 show the notice of default was withdrawn. advertisement. (MSNBC -- News)
Records: Jackson late on home payments Feb 29, 2008
Documents dated Feb. 7 show the notice of default was withdrawn. Documents also show Jackson previously faced possible default over missed payments on the home in April and August. (Xinhuanet, China)
