Michael Jackson's Neverland Escapes Foreclosure
- By:
- MortgageLoan.com | May 13, 2008
Pop legend Michael Jackson has averted foreclosure on his Neverland Ranch, following late intervention from real estate investment firm, Colony Capital.
The California property, which had been held by Fortress Investment Group, was bailed out by a sale to Colony Capital, believed to be in the region of $23.5 million.
Jackson's ranch was due to be auctioned off on May 14, after the entertainer defaulted on loan payments.
Representatives of the parties involved have so far refused to comment. Jackson has been plagued by financial hardship since his acquittal from molestation charges in 2005 and is currently in the studio working on a comeback album.
Housing Rescue Slows as Foreclosures Increase
- By:
- MortgageLoan.com | July 04, 2008
With lenders on the back foot following mounting criticism over their sluggish attempts to quell the rising tide of foreclosures, new figures from Hope Now, show its members helped roughly 170,000 homeowners avoid foreclosure in May. The figure however is a 7 percent drop from April's figure of 183,000.
Mortgage Application Volumes Rise
- By:
- MortgageLoan.com | July 03, 2008
Weekly mortgage applications in the U.S rebounded in the week ended June 27, figures from the Mortgage Bankers' Association (MBA) revealed on Wednesday. The figure is a 3.6 percent week-over-week increase in applications.
Jazz Legend Avoids Foreclosure
- By:
- MortgageLoan.com | July 02, 2008
Renowned jazz vocalist, Ernestine Anderson has been able to stave off the threat of foreclosure - for now.
Florida sues Countrywide
- By:
- MortgageLoan.com | July 01, 2008
Florida has joined the increasing number of states to take action against Countrywide, with Florida Attorney General, Bill McCollum filing the lawsuit against the mortgage lender for predatory lending practices.
Five Indicted in Alleged Mortgage Fraud
- By:
- MortgageLoan.com | June 30, 2008
A federal grand jury has indicted five people on federal charges of conspiracy to commit bank fraud and other crimes tied to an alleged mortgage fraud scheme.
Countrywide Sued By States Over Lending Practices
- By:
- MortgageLoan.com | June 27, 2008
Countrywide Financial, the mortgage lender that lost $2.5 billion amid rising defaults and foreclosures as well as being widely blamed for worsening the U.S housing crisis through discriminatory lending has been sued by California and Illinois.
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