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state grabs $7.7m of foreclosure settlement

the mortgage foreclosure fiasco has turned out to be a bonanza of sorts for mississippi state government. mississippi’s general fund will receive a $7.7 cash infusion from the national legal settlement state attorney general jim hood and 48 other attorneys general negotiated with giant mortgage servicers bank of america , citi, chase, gmac and wells fargo.

short sales of u.s. homes on track to exceed foreclosure deals

short sales of u.s. homes rose to a three-year high in the first quarter as banks agreed to let more borrowers unload property at a loss, putting the transactions on pace to surpass deals for foreclosures, realtytrac inc. said.

sales of foreclosure homes jumps

trend indicates a greater likelihood that home prices will continue to soften, as foreclosures and short sales typically sell at sharp discounts

bay state foreclosure inventory declines in april

a total of 2 percent of all homes with a mortgage in massachusetts were in the foreclosure inventory as of april, better than the nation's 3.4 percent average, according to a new report from california data firm corelogic.

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