City’s Bank Owned Foreclosures Prevention

The city of Richmond in California has taken a proactive stance in its fight to contain the number of bank owned foreclosures in the area. City officials have decided to purchase, rehabilitate and sell these foreclosed homes to prevent them from becoming blights in the...

Loan Rule to Benefit Banks and Reduce Bank Owned Foreclosures

Banks are invoking a 4-year-old accounting rule that standardizes how they book bad loans. The rule will help boost banks’ revenues and reduce Bank Owned Foreclosures."A 4-year-old accounting regulation that standardizes how banks acquired loans is expected to help the...