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Foreclosures

Banks to pay out $3.6B for wrongful foreclosures

From top, Wells Fargo, Citigroup, Bank of America, JPMorgan Chase and other banks reached a settlement with federal agencies to begin to distribute $3.6B in cash to those who were illegally foreclosed on. AP Images

WASHINGTON — The nation’s largest banks will begin sending payments this week to millions of Americans who may have been wrongfully foreclosed on during the housing crisis. A total of $3.6 billion in cash will be distributed to 4.2 million ...

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Towns seek help dealing with home vacancies

An unkempt vacant home or building with uncut grass and other unsightly issues can be a source of frustration with neighbors who make a point of keeping up their properties. And it’s a source of frustration for government officials, who ...

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Thousands of NYers share $1.8B in mortgage relief

ALBANY — Thousands of New York homeowners have gotten an estimated $1.8 billion in loan relief from five U.S. banks as part of the national mortgage settlement over foreclosure abuses. So far, 21,535 New York homeowners have received assistance, including ...

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5 big banks have cut mortgage debt by $19B

WASHINGTON — Five of the biggest U.S. banks have cut struggling homeowners’ mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. More than 550,000 borrowers received some form ...

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Local foreclosure market good bet for ‘13

As with all things real estate, the best deal comes down to location, location, location. And so it is with foreclosure purchases. Rochester is ranked second among the 20 best places to buy foreclosures this year, a prediction based on ...

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City seeks state help for home rehab program

The home at 39 Lark St. in Rochester was purchased for $14,000 at a tax foreclosure auction last July. The single-family home was in bad shape, requiring asbestos and lead paint abatement, as well as general repair work necessary for ...

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Bank buys Hampton Inn at foreclosure auction

The bank holding the mortgage on the Hampton Inn Rochester-North will probably market and sell the hotel, according to the attorney who represents U.S. Bank NA, which bought the hotel Thursday at a foreclosure auction. John K. McAndrew, a partner ...

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State to receive $1.9M in robo-signing settlement

A multi-state settlement with Lender Processing Services Inc. and its subsidiaries, LPS Default Solutions and DocX, was announced Thursday by Attorney General Eric T. Schneiderman to resolve claims of unlawful foreclosure practices, including robo-signing. The $121 million settlement, reached by ...

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Space Coast tops list of best foreclosure deals

ORLANDO, Fla. — Florida’s Space Coast is No. 1 in the nation for the best foreclosure deals. A study released Thursday by the firm RealtyTrac says the area around the Kennedy Space Center was best in the nation for getting ...

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Greece Hampton Inn being foreclosed

Hampton Inn Rochester-North in the town of Greece is slated to be sold next week in a $10 million foreclosure proceeding. The inn, which includes nearly 3 acres at 500 Center Place Drive, will be sold as a single parcel ...

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Bank forum on avoiding foreclosure

Representatives from Bank of America will be in Rochester for two days this week to meet with customers facing financial difficulties with their home loans. Bank of America customers seeking information or assistance with applying for a mortgage modification program ...

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