Monday, March 14, 2011

Housing News Digest, March 14

Springs nearly nation's worst in unemployment change over past year
Colorado Springs ranked second-worst in the nation for its rising unemployment rate last year, according to a report from the Brookings Institution ranking the nation’s 100 largest metropolitan areas on a variety of economic indicators in the fourth quarter of 2010.

Colorado foreclosures fall 18%
Colorado foreclosures in February fell by 18 percent from a year earlier, but the state still remains on a Top 10 list it wants no part of – it was No. 9 for its foreclosure rate last month, according to the most recent RealtyTrac report.

Bank of America Unit Tried to Hide Foreclosure Information, Hackers Say
A hacker organization known as Anonymous released a series of e-mails on Monday provided by a former Bank of America employee who claims they show how a division of the bank sought to hide information on foreclosures.

AARP Sues HUD on Behalf of Borrowers Over Reverse Mortgage Program Changes
AARP’s Foundation for Litigation recently filed a lawsuit on behalf of three surviving spouses of reverse mortgage borrowers against the Department of Housing and Urban Development (HUD) for alleged illegal reverse mortgage foreclosure actions. The suit follows recent complaints from HECM borrowers relating to issues associated with non-borrowing spouses.