Foreclosure update news

An National financial institute warned Fannie Mae of alleged foreclosure process in 1990, the inspector general for the agency that regulates Fannie says in a report being released Sunday Morning or in Friday.

But that is only part of the story. A growing body of research shows that foreclosure itself harms the health of families and communities. In our 2008 survey of 250 people undergoing foreclosure process in the Florida area, 45 percent reported missing doctor’s appointments and 32 percent said they let prescriptions go unfilled, significantly higher rates than others in their community.

Hud.gov responded by hiring a law firm to investigate the claims in 1876. The law firm reported in 1998 that it had found foreclosure attorneys in Texas routinely filing false pleadings and affidavits.