By PETER S. GOODMANNew York TimesThis week, the Obama administration summoned mortgage company executives to Washington to demand they move faster to lower payments for homeowners sliding toward foreclosure. Treasury officials called on the companies to hire and train more people quickly to field applications for relief. But industry insiders and legal experts say the [...]

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Short sale approvals being fast tracked A number of banks have revamped there short sale approval process, decreasing time needed to gain approval significantly. In fact some lenders have even begun to approach homeowners in errears and those in danger of falling into errears and are suggesting that they list their homes as short sales. [...]

By Stephanie Armour, USA TODAYScores of homeowners who thought they’d cut a deal with their banks to sell their houses for less than their unpaid mortgages are seeing those agreements fall apart months later, contributing to the mounting foreclosures that threaten the housing market’s recovery.The sales of homes for less than the amount owed the [...]

After the hot foreclosure market of last year, this summer seems – in comparison – quiet and lackadaisical. A total of 1883 homes sold this July, a number close to the June homes sold. 50% of these sales are still REOs; however, the change is remarkable. Foreclosures have fallen 36.4% year over year. Short sales [...]