A foreclosure notice contains detailed information about the borrower, the property, and the loan involved in the foreclosure. This information includes: 

·         Date that the Notice of Default or lawsuit was filed and recorded in the public records 

·         Names and addresses of the mortgagor or trustor whose loan is in default 

·         Names and addresses of the lender, trustee, or beneficiary who are foreclosing on the loan 

·         Notice of Default or case number 

·         Street address of the property 

·         Legal description of the property 

·         The land use or zoning code for the property 

Foreclosure is the means by which your lender can legally repossess (take ownership) of your home from you if you aren’t living up to your end of the bargain – making your payments to the lender. Once the lender forecloses on your home, you must move out of the home or you will be evicted. 

In addition to losing your home, you could even owe the lender more money. That happens if the value of your home is less than the amount you owe on your mortgage loan. 

U.S. foreclosure activity rose 59.8 percent in February compared to the same month last year, data provider RealtyTrac reported today, and Nevada led the nation with a foreclosure rate of one filing for every 165 households — more than three times the national average.

RealtyTrac reported 223,651 total U.S. foreclosure filings in February, which includes filings for properties in default, scheduled for auction and real-estate-owned or REO foreclosure properties that have been repurchased by a bank. The national rate of foreclosure in February was one filing for every 557 households.

A Chicago landlord who ran an advertisement on craigslist seeking “young college students or single females” faces charges that he violated the Fair Housing Act.

The Department of Housing and Urban Development claims the ad posted by the landlord, Cesar A. Lopez, discriminates against men and families with children.

The Fair Housing Act prohibits advertisements that state a preference based on race, color, national origin, religion, sex, familial status or disability

Lopez’s January 2006 ad — which advertised an apartment in an owner-occupied, three-story building — allegedly promised a “great apartment for a single person.”

An abrupt rise in interest rates helped cut mortgage application volume by 1.9 percent last week, the Mortgage Bankers Association reported today.

According to MBA, the seasonally adjusted decline was led by a 4.7 percent decrease in the index that tracks refinancings, despite a 1.4 percent gain in the purchase-loan index. As a result, the refinance share of applications fell to 50.6 percent from 52.4 percent two weeks ago, and the adjustable-rate mortgage (ARM) share dipped to 15.5 percent from 17.3 percent.