foreclosure

Foreclosure Mediation
9:13 pm
Tue August 28, 2012

St. Louis County Council approves foreclosure mediation plan

(via Flickr/taberandrew)

Lenders in St. Louis County will soon be required to offer mediation to homeowners on the edge of foreclosure.

Councilwoman Hazel Erby, who introduced the new plan, told council members something had to be done to help slow the rate of foreclosures in the county.

“On behalf of the many families who contacted me over the last year and shared their difficult stories about losing their homes,” Erby Said. “I hope they know that this ordinance is in their honor.”

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Foreclosure Mediation
10:17 pm
Tue August 21, 2012

St. Louis County Council puts foreclosure mediation on hold, for now

Foreclosures in St. Louis hit a record high in 2010. (flickr/taberandrew)

For the second week in a row, residents lined up to tell councilmembers that mandatory mediation would help save homeowners facing foreclosure.

But Councilwoman Hazel Erby, who sponsored the bill, moved to table its final passage at least until next week.

“We’re looking over some things,” Erby said.  “We just received some letters, so, we’re taking those into consideration.”

When asked, Erby didn’t specify what additional information needed to be considered.

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Foreclosure Mediation
9:28 pm
Tue August 14, 2012

St. Louis County Council moves forward with foreclosure mediation bill

Foreclosures in St. Louis hit a record high in 2010. (flickr/taberandrew)

The St. Louis County Council moved forward tonight with a bill that would require lenders to offer mediation for homeowners on the edge of foreclosure.

During a public meeting on the plan, many community members told the council that mediation may have saved them from foreclosure.

For Councilwoman Kathleen Kelly Burkett, it was personal.   She was on the edge of tears when she told the story of foreclosing on her mother’s house.  

Councilwoman Hazel Erby, who originally introduced the bill, said they have to take action now.  

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The Two-Way
12:02 pm
Fri August 10, 2012

Consumer Bureau Moves To Make Mortgages Clearer, Foreclosures Fewer

A "bank owned" sign in front of a home in Miami last October.
Joe Raedle Getty Images

Originally published on Fri August 10, 2012 9:45 am

Saying it wants "to protect homeowners from surprises and costly mistakes by their mortgage servicers," the Consumer Financial Protection Bureau today proposed new rules it believes would make the home loan process simpler and give struggling homeowners more of a chance to avoid foreclosures.

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Morning round-up
9:26 am
Wed August 1, 2012

Morning headlines: Wednesday, August 1, 2012

(via Flickr/Indofunk Satish)

St. Louis alderman killed in car crash

Members of the St. Louis Board of Alderman are mourning the loss of a colleague this morning. The Missouri Highway Patrol has confirmed that 54-year-old Gregory Carter, Alderman of the 27th ward has died in an early morning crash on eastbound 370 in St. Charles County.

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St. Louis County Council
1:37 am
Wed July 18, 2012

St. Louis County Council to consider foreclosure mediation, has success with refinancing bonds

(via Flickr/taberandrew)

A bill introduced at the St. Louis County Council meeting last night would require lenders give homeowners a chance to go into mediation before foreclosure.

On the surface the bill is straightforward, but the details of the process could take months to iron out. 

Nevertheless, Councilwoman Hazel Erby said as the foreclosure crisis lingers she felt compelled to ask for the bill’s introduction.

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Mortgage Settlement
8:21 pm
Thu February 9, 2012

Missouri nets $196 million in mortgage settlement

Attorney General Chris Koster has directed $40 million of Missouri's mortgage settlement to the state budget.
(Joseph Leahy/St. Louis Public Radio)

Troubled Missouri home owners can expect a degree of relief from a national mortgage settlement that has been reached with five of the nation’s largest mortgage lenders.

The Show-Me State is being awarded more than $196 million of a $25 billion settlement with banks -- including Bank of America and JP Morgan Chase -- over allegations of lending abuses and improper foreclosure procedures.

Missouri Attorney General Chris Koster says the settlement does not close the door on possible criminal charges against mortgage lenders.

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Illinois Foreclosures
2:19 pm
Thu July 14, 2011

Illinois home foreclosures up 4 percent in June, down 25 percent from last year

(via Flickr/taberandrew)

Illinois home foreclosure activity rose 4 percent in June compared to the previous month, but was down 25 percent from one year earlier.

A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 6,541 homes receiving initial foreclosure filings last month.

Another 1,944 properties were scheduled for auction sale and 2,529 properties were repossessed by banks.

Looking at the first six months of the year, Illinois foreclosure activity fell 29 percent compared to the same period last year.

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Morning round-up
9:13 am
Thu January 13, 2011

Morning headlines: Foreclosures in St. Louis hit record high, Mo. House preparing to work on new congressional map, smaller harvest for Mo. farmers

  • Foreclosure activity in the St. Louis area hit an all-time high in 2010. The St. Louis Post-Dispatch reports that according to figures released by the data firm RealtyTrac, one in every 57 houses in the 17-county St. Louis region received at least one foreclosure filing during the year. The filings are up nearly 12 percent from last year and slightly above the previous records in 2008. The Post-Dispatch reports that these figures come despite billions of federal dollars poured into mortgage modification programs in the past two years, and despite the relatively stable housing market in St. Louis.
  • Missouri House members are preparing to start work on a new congressional map that will have only eight districts, down from the current nine. U.S. House districts are redrawn every 10 years to reflect changes in population based on the census. The U.S. Census Bureau announced last month that Missouri will lose one seat in the U.S House. The eight districts are the fewest for Missouri since the census of 1850. The state Legislature is responsible for drawing the new congressional districts and will approve them just like any other legislation. A special House committee on redistricting scheduled an organizational meeting Thursday morning, with no plans to take public testimony.
  • Missouri farmers took in a smaller harvest last year of some of the state's leading crops, Missouri Agricultural Statistics reports that corn production totaled 369 million bushels in 2010, down 17 percent from the previous year. Soybean production totaled 210 million bushels, down 9 percent from the 2009 crop. Hay production fell 7 percent compared with the previous year. And grain sorghum production reached its lowest level since 1955. But harvests did rise last year for cotton and rice farmers. Rice production, in fact, broke the previous state record set in 2005.

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