A study by government and academic researchers finds that approximately 800,000 homeowners missed out on mortgage modifications because of big banks’ poor performance. Palm Coast, FL – September 11, 2012 – Over the past several years, we’ve reported extensively on the big banks’ foreclosure failings. As a result of banks’ disorganization and understaffing — particularly […]
Instead of trying to calibrate compensation to how badly each homeowner was harmed, officials instead for a one-size-fits-all solution. Everyone who qualifies for compensation will get the same amount Palm Coast, FL – June 6, 2012 – If you’re a victim of banking abuses during the foreclosure crisis, the government says it’ll make sure you […]
According to the state attorneys general and the administration, a major selling point of the new settlement is that it won’t repeat HAMP’s mistakes. This deal, they say, is different. Palm Coast, FL – February 13, 2012 – Thursday, administration officials stood alongside state attorneys general to announce a $25 billion mortgage settlement. It was […]
Fed banking regulators have launched a foreclosure review process. Certain current or former homeowners who were the victims of abuses or errors by mortgage servicers will be eligible for compensation Palm Coast, FL – November 7, 2011 – As we reported Friday, federal banking regulators have launched a foreclosure review process. Certain current or former […]
Banking regulators this week launched the government’s latest attempt to help troubled homeowners, but early indications are that this program, like earlier efforts, has fundamental flaws. Palm Coast, FL – November 4, 2011 – Banking regulators this week launched the government’s latest attempt to help troubled homeowners — the Independent Foreclosure Review — heralding it […]
The government’s supervision of the mortgage modification program has apparently ranged from nonexistent to weak. Palm Coast, FL – October 4, 2011 – Why has the administration’s flagship foreclosure prevention program been so ineffective in helping struggling homeowners get loan modifications and stay in their homes? One reason: The government’s supervision of the program has […]
If you weren’t listening closely to President Obama’s speech Thursday night, you might have missed his new plan to help millions of homeowners. Palm Coast, FL – September 10, 2011 – If you weren’t listening closely to President Obama’s speech Thursday night, you might have missed his new plan to help millions of homeowners. Here it […]
By vastly expanding its suit against Bank of America to include all major stages of the bank’s mortgage practices, Nevada signals that the banks’ mortgage troubles will likely continue to dog them. Palm Coast, FL – August 31, 2011 – The state of Nevada dramatically expanded its lawsuit against Bank of America today, turning the […]
GMAC, one of the nation’s largest mortgage servicers, faced a quandary last summer. It wanted to foreclose on a New York City homeowner but lacked the crucial paperwork needed to seize the property. Palm Coast, FL – July 27, 2011 – GMAC, one of the nation’s largest mortgage servicers, faced a quandary last summer. It […]
Banks say they’ve made improvements in how they handle struggling homeowners. They’ve promised not to foreclose on homeowners being considered for mortgage modifications. But that’s still happening. Palm Coast, FL – June 24, 2011 – Four years into the foreclosure crisis, banks say they’ve made major improvements in how they handle struggling homeowners. They’ve promised, […]