Idaho has the nation’s 7th-highest rate of filings; Nevada’s rate is highest.

From The Idaho Statesman

Idaho foreclosures stabilize in May as banks hold back
BY ALAN ZIBEL – THE ASSOCIATED PRESS

Published: 06/10/10

The foreclosure crisis appears to be leveling off.

The number of people facing foreclosure is nearly flat from a year ago, according to the latest report from RealtyTrac Inc. A third fewer people are receiving legal warnings that they could lose their homes. And foreclosures are receding in some of the hardest-hit cities. Continue reading…

Mortgage Applications Drop, Rates Stay Low

Daily Real Estate News  |  June 9, 2010

Applications for mortgages to purchase homes declined 5.7 percent last week compared to the previous week on an adjusted basis that takes into account Memorial Day, according to the Mortgage Bankers Association weekly survey.

On an unadjusted basis, the purchase index decreased 16.3 percent compared with the previous week and was down 30.4 percent from Memorial Day week last year. This is the fifth straight week mortgage applications have declined. Continue reading…

Mortgage Fraud Rises: Who’s at Risk?

Source: Mortgage Bankers Association (06/09/2010)

Daily Real Estate News  |  June 9, 2010

A report analyzing national mortgage fraud risk in the first quarter of 2010 says it has increased by 4 percent compared to the fourth quarter of 2009 and is up 11 percent from the first quarter a year ago.

Other findings from risk analytics company Interthinx included:
Arizona surpassed California as the state with the highest fraud risk. Nevada, California, Florida and Michigan rounded out the top five. Continue reading…

BofA Rolls Out Plan to Forgive Principal

Source: Interthinx (06/08/2010)

Daily Real Estate News  |  June 3, 2010  |

Bank of America announced Wednesday that it was rolling out a relief program for roughly 45,000 of its most troubled borrowers that would reduce mortgage principal by as much as 30 percent.

To be eligible, homeowners must have missed at least two monthly payments and owe 20 percent or more than their home is worth. Homes must have been originally financed by Countrywide Financial Corp. under specific lending programs. Continue reading…