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By Les Christie @CNNMoney “The clock is ticking on a tax break that saves struggling homeowners from paying thousands of dollars to the IRS. If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended by Congress by the end of the year, homeowners will have to start paying income taxes on the portion ofRead more

By Jeff Kearns | Bloomberg.com   “Federal Reserve Governor Elizabeth Duke said pending bank regulations may “seriously” impair mortgage lending by community banks, which play a “significant” role in the market for home loans. Duke, a former community bank executive, said she and other Fed governors, including Chairman Ben S. Bernanke, are concerned about the potential harm from several rules mandatedRead more

Florida’s attorney general and top legislators reached a deal Friday over how to spend $300 million in foreclosure settlement cash, ending a months-long stalemate. BY TOLUSE OLORUNNIPA HERALD/TIMES TALLAHASSEE BUREAU “Florida Attorney General Pam Bondi announced Friday she has reached a deal with the state lawmakers over how to use $300 million in foreclosure settlementRead more

By Drew Harwell, Times Staff Writer | “Although the $25 billion national mortgage settlement’s goal is to keep people in their homes, big banks are doing much better at ushering Florida homeowners out, as a new report shows short sales dwarfing other forms of relief as lenders’ atonement of choice. Under the settlement, five of theRead more

By Drew Harwell, Times Staff Writer “In a landmark robo-signing case, a former executive of a Jacksonville mortgage-processing giant faces up to five years in prison after pleading guilty to orchestrating years of fraudulent foreclosure documents, according to a plea deal filed Tuesday in Jacksonville federal court. Lorraine Brown, who headed a Georgia processing firm, DocX,Read more

Reuters | “Applications for U.S. home mortgages fell last week as Superstorm Sandy battered the East Coast and disrupted normal business activity for millions of people, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity fell 5 percent in the week ended Nov. 2. TheRead more

By The Miami Herald “Florida is ranked No. 1 in the nation for the number of homes in foreclosure and the number of people on the verge of losing their homes. But the Sunshine State is last in the nation when it comes to using the billions of dollars in available housing aid from a nationalRead more

By Les Christie @CNNMoney | “(CNNMoney) — The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved. The settlement, agreed to by the nation’s five largest mortgage lenders, is expected to speed up the foreclosure process by providing stricter guidelines for the banksRead more