Gatlinburg Real Estate Blog

HEAVY LOAD: A record number of defaults has put added pressure on an already overloaded processing system. By George White, RE/MAX Times Online Managing Editor Developments over the past three weeks – most notably the issue of "robo-signers" and concerns about legal standing – have pushed the processing of foreclosures into the spotlight, even prompting a debate on the need for a national moratorium and/or investigation. As of now, Bank of America has suspended its foreclosure actions in all 50 states, while Ally Financial (GMAC Mortgage), and JPMorgan Chase have halted theirs in the 23 states in which courts are involved in the process. Wells Fargo is not planning to change its approach. Calls for federal investigations and/or freezes have come from several attorneys general and a variety of legislators. The Senate Banking Committee will hold a hearing Nov. 16 to examine allegations of improper or fraudulent mortgage servicing and foreclosure processing. For its part, the Ob...

HEAVY LOAD: A record number of defaults has put added pressure on an already overloaded processing system. By George White, RE/MAX Times Online Managing Editor Developments over the past three weeks – most notably the issue of "robo-signers" and concerns about legal standing – have pushed the processing of foreclosures into the spotlight, even prompting a debate on the need for a national moratorium and/or investigation. As of now, Bank of America has suspended its foreclosure actions in all 50 states, while Ally Financial (GMAC Mortgage), and JPMorgan Chase have halted theirs in the 23 states in which courts are involved in the process. Wells Fargo is not planning to change its approach. Calls for federal investigations and/or freezes have come from several attorneys general and a variety of legislators. The Senate Banking Committee will hold a hearing Nov. 16 to examine allegations of improper or fraudulent mortgage servicing and foreclosure processing. For...