Mortgage Market Index for the week ended March 4 was 206, marginally higher than 203 in last week’s report. The index from Mortech Inc. and MortgageDaily.com was 245 during the same week last year. Behind the weekly improvement was a 4 percent increase in purchase activity, while refinance transactions slipped 1 percent.

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Indianapolis, IN, United States (AHN) – Indiana Secretary of State Charlie White will not resign following his indictment late Thursday on felony charges of voter fraud, theft for receiving a salary as a town council member despite living somewhere else, and lying under oath to get a mortgage loan.

“I believe the evidence will prove that I did not intentionally break any laws,” White told the Indianapolis Star after being booked and released from the Hamilton County Jail.

“I will continue to do the job I was elected to do,” added the Republican, who took office in January. “I am humbled by the outpouring of support. The important work on behalf of Hoosiers will not be derailed by this process.”

Gov. Mitch Daniels had urged White, who is not required to resign unless he is convicted of a felony, to step down “at least until a verdict is reached.”

Saying he reached a decision after a unanimous recommendation from officials, the governor added, “It would be neither credible nor appropriate for the state’s top elections official to continue to perform his duties while contesting criminal charges, some of them under the very laws the Secretary of State implements.”

Indiana Republican Party Chairman Eric Holcomb, the governor’s former deputy chief of staff, also told 6News that White should “take a leave of absence from his official duties until the legal process reaches a conclusion.”

Two special prosecutors, Republican John Dowd and Democrat Daniel Sigler, are handling the case.

White faces three counts of voter fraud and two counts of perjury for registering to vote using his ex-wife’s address while living in a different precinct, and voting in the state’s May 2010 primary election using the wrong registration address.

He is charged with fraud on a financial institution for lying under oath on a home loan application.

White also faces one count of theft for continuing to accept a salary as a member of the Fishers town council despite having moved from the district.

He signed sales documents stating his primary residence is a newly purchased condominium outside the district he represented, referred to as the Overview Drive residence in reports, in February 2010. He resigned from the town council on Sept. 21, when controversy erupted about the issue during his campaign for secretary of state.

White corrected his voter registration address the following day.

The Indiana Democratic Party at the time called for an investigation into discrepancies in White’s voter registration. They later filed a complaint against the state recount commission for dismissing a legal challenge to White’s certification as secretary of state.

Democrats say White has a history of intentional fraud. They cite White’s statement to a polling clerk and signature in a voter registration book during a November 2009 special election. He later had to correct his voter registration address.

White transferred ownership of his Broad Leaf home to his former wife in 2007 and transferred to a new home, called the Pintail Drive Residence in court documents, the same year.

After his 2009 declaration to the polling clerk, he updated his registration address to the Broad Leaf address but closed the sales of his Overview Drive home four days later.

White’s campaign last year said “a set of personal and family-related circumstances created th[e] scenario,” and that White was “entitled under law to vote one last time at his old polling location.”

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At banks and thrifts, commercial mortgage delinquency of at least 90 days fell 22 basis points in the fourth quarter, the Mortgage Bankers Association reported. But late paymens on commercial mortgage-backed securities jumped 37 BPS from the third quarter. Freddie Mac’s multifamily rate retreated in the fourth quarter and fell further in January.

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Catherine L. Kissick worked at Colonial Bank until it failed in 2009. She was in charge of the bank’s warehouse lending division. The Department of Justice announced that Kissick pled guilty to conspiring with former Taylor Bean and Whitaker executives to commit bank, wire and securities fraud.

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In current times, many families have found themselves facing one of the potentially most damaging financial events possible – foreclosure. Home foreclosures have been gaining publicity recently, as they are a sign of the dire financial situation around the world. Countless home loans were issued during the “housing bubble” of years past, often times to people who could not comfortably afford the expense incured by a monthly mortgage payment. As the economic situation has progressed to the point of recession, many people are asking the question – How will a home foreclosure effect my personal credit?

The answer to this question is dependent on several specific factors. In most cases, the true severity of the effect of home foreclosure depends on a person’s overall credit report. It is undeniable that a foreclosure will have a negative effect on a borrower’s credit report, which may or may not prevent them from getting any future financing. If a borrower already has several late payments recorded on their credit report, a foreclosure will most likely cause their credit to drop significantly, probably into the “sub-prime” (below 600) credit zone. This, in combination with the foreclosure being recorded on a person’s credit report for the next seven years, will probably prevent an individual from being able to borrow money from any reputable institution for quite some time.

However, it is possible to survive a home foreclosure with only moderate damage to your credit report. If you have a fairly clean credit history, and no late payments, a foreclosure will not has as devestating of an impact on your credit as it would if you had less-than-perfect credit history. The reason for this, is that when potential lenders view your credit report in the future, the negative impact of the foreclosure is off-set by the positive credit history established through good financial behavior. Making loan payments on-time, paying off credit card debt, and avoiding having debt with collection agencies are all great ways to ensure that your credit is as reputable as possible.

With all of this being said, it is still strongly advised to avoid a home foreclosure at all costs. Most mortgage companies will be willing to work with you to help you make your monthly payments, since they will lose significant income if your home is foreclosed upon. If you find yourself in a situation where you may be facing foreclosure, it is best to do a bit of research, and weigh all of your available options.

Making the payments on a monthly mortgage is a significant financial burden, especially when dealing with a mortgage that has an interest rate which increases over time. As a result, many families are currently on the brink of foreclosure, as the mortgages issued during the “housing bubble” are adjusting to reflect the state of the economy. This means that more and more people are searching for ways to obtain aid in paying their monthly mortgage, which (due to high demand) is becoming increasingly difficult.

There are many programs available that are advertized to “help lower your monthly mortgage payment” or “decrease your mortgage amount”. However, it is important to remember that some of these claims could come from companies that are only looking to obtain more money from you. With the high-demand for mortgage aid, many “mortgage payment scams” are appearing, which may lead unsuspecting homeowners even closer to foreclosure. In order to avoid falling into a potential financial trap, it is strongly advised to first research the company from which you are seeking mortgage help from. This can be done by searching for company reviews online, or by asking for references from other people who have used the company for financial aid.

Most states now have specific financial programs designed to help homeowners who are struggling to pay their mortgage. These programs are usually organized through government funding, and will help with a good portion of mortgage payments. In addition to this, it is also possible to obtain mortgage help through certain loan modification procedures. These procedures may help you to defer your loan for a period of time, recieve a lowered interest rate, have certain fees waived, restructure the terms of your loan, and other options.

It is also possible to get help with your mortgage payment through the bank that you borrowed the mortgage money from. Since the increase in home foreclosures, many banks have announced special programs that are designed to help the majority of their borrowers pay their mortgage. These programs are growing in popularity, since many banks are seeing the wisdom in preventing potential foreclosures. For example, JP Morgan Chase announced a plan worth $70 billion dollars, which will effectively help approximately 400,000 homeowners with their mortgage payments. Many other banks have similar porgrams, some of which are focused solely on refinancing or restructuring their borrower’s loans.

NYC OTB Federal Credit Union was shut down by the National Credit Union Administration. The Illinois Department of Financial and Professional Regulation — Division of Banking stepped in to seize control of Valley Community Bank. The failed institution was immediately handed over to the Federal Deposit Insurance Corp. as receiver.

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Miami, FL, United States (AHN Sports) – Former Bears star defensive back Dave Duerson, who was found dead at his Miami home last Thursday night, was reportedly having financial difficulties at the time of his death.

According to court documents, Duerson, 50, who died of a self-inflicted gunshot wound to the chest, had filed for personal bankruptcy in September, ESPN.com reported.

The filing was made in a U.S. bankruptcy court in the Southern District of Florida.

The two-time Super Bowl champion Duerson, in a court filing, listed $34.6 million in assets and $14.7 million in liabilities. However, nearly all of the assets were part of his food company, Duerson Foods, which he started after selling his stakes in Fair Oaks Farms (formerly Brooks Sausage Company) in 2002.

He invested millions in the food company but had legal issues with the freezer supplier that delayed the plant’s opening in 2003.

In 2004, Duerson won the legal battle but had never collected. His food company was forced into receivership in 2006 and most of its assets were auctioned off

According to the Chicago Tribune, Duerson’s ex-wife, Alice Duerson, with whom he had three sons and a daughter, indicated in a December court filing that Duerson owed her $70,000.

Apart from his wife, Duerson’s other reported creditors included Northern Trust and the state of Wisconsin, among others.

Northern Trust claims it has a $213,790 mortgage on Duerson’s Sunny Isles Beach property and a second lien for $233,392, while the state of Wisconsin tax has claim of $47,315, ESPN.com reported.

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SunTrust Banks Inc. found problems in 4,000 active foreclosure cases, the bank said in a regulatory filing. The problems were discovered during an internal review of its practices. But SunTrust noted that if only found “technical issues” in fewer than 15 percent of active cases.

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When facing foreclosure, it may seem hopeless for your financial situation to be salvaged. While the prospect of losing your home is certainly discouraging, it’s extremely important not to give up on getting your finances in order. Having a home foreclosure on your credit history is extremely damaging, and often will prevent you from getting any future financing. Stopping a foreclosure at the right moment can help save your home, and prevent you from possibly serious financial consequenses.

In order to stop a foreclosure in time, there are several important steps that you may take. The first step is to open the communication lines between you and your mortgage company. Most mortgage companies will be open to negotiations to help you make your monthly mortgage payments, since they are also partially responsible for your debt. A foreclosure is expensive to a lending institution as well, as they will also lose money when you lose your home. Speaking to your mortgage company is very important when trying to stop a foreclosure at the right moment.

In some cases, you may qualify for government aid in helping prevent foreclosure on your house. With the recent increase in home foreclosures, many large banking coorporations are now offering federally funded financial aid. These programs are extremely generous, though may require you to meet certain guidelines when applying. This is to prevent the programs from being exploited, so it is important to research the specific aid program of your bank to see if you may qualify.

As long as you are able to prevent a foreclosure before the deadline set by the mortgage company, you will be able to keep your home. If you are not able to make your mortgage payment, it is strongly advised that you research methods to refinance, restructure, defer or negotiate your mortgage. In addition to your mortgage company, there are many commercial or non-profit organizations that offer specific aid to help people struggling with making their mortgage payments. However, some of these companies may have hidden fees or charges associated with their services, so it is recommended that you research the company that you wish to use. If you thoroughly research all of your available options, you will have a much better chance of stopping a foreclosure at the right moment, before it becomes a permanent part of your financial history.