The year has been marked by a few blockbuster settlements and more revealing investigations – as well as by some noticeable inaction in the reckoning. Palm Coast, FL – December 28, 2010 – It’s been over three years since credit markets started shaking with the early tremors of the subprime crisis, and two years since […]
The suits allege that Bank of America knowingly misled homeowners in the loan modification process. Palm Coast, FL – December 20, 2010 – On Friday, Arizona and Nevada both filed suit against Bank of America, saying it deceived homeowners trying to avoid foreclosures. The suits allege that Bank of America knowingly misled homeowners in the […]
The regulator for the biggest investors of them all – the government-controlled Fannie Mae and Freddie Mac – won’t let the two cut mortgage balances for upside down homeowners. Palm Coast, FL – December 19, 2010 – The Obama administration has been pushing for banks and investors to cut mortgage balances for homeowners who owe […]
In the small number of cases that have finished the conferences, homeowners have frequently avoided foreclosure and received loan modifications. Palm Coast, FL – November 22, 2010 – With foreclosures at close to record highs, local and state governments around the country have tried to intervene to both make sure banks aren’t taking shortcuts and […]
The closing agent, title agent and broker’s affiliate have all been charged or convinced of mortgage-related fraud yet the victim, her four kids and three grandkids face eviction next Monday. Palm Coast, FL – November 22, 2010 – Imogene Hall, a 49-year-old Jamaican immigrant living in Miami, is exactly the kind of poster child you […]
In prepared Congressional testimony yesterday, Bank of America’s top mortgage official, Barbara Desoer, said it’s Wall Street investors, not the bank, that are making it hard to help homeowners. Palm Coast, FL – November 17, 2010 – In prepared Congressional testimony coming today, Bank of America’s top mortgage official, Barbara Desoer, says it’s Wall Street […]
In September, for example, banks modified almost 28,000 loans, but nearly 10,000 homeowners fell out of the program because they defaulted on their modified payments. Palm Coast, FL – October 28, 2010 – The U.S. government’s effort to help struggling homeowners is approaching a standstill, and the number of homeowners in ongoing mortgage modifications could […]