February 2008

Mortgaging the future – Foreclosure plans highlight key difference between Obama, Clinton

Clinton has a stunningly simple solution, as stated in one of her TV ads: “freeze foreclosures” for 90 days and “freeze rates on adjustable mortgages.” Those are a perfect answer, assuming this is the question: How can the government reward [...]


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Foreclosure study says vacant properties cost Cleveland $35+ million

Vacant properties – abandoned in part by a mountain of foreclosures – so far have cost Cleveland more than $35 million, says a study of eight Ohio cities to be released Tuesday. The tally includes property tax dollars lost, as [...]


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Brokers & Real Estate Agents are Now Scamming Homeowners in Foreclosure

First your wonderful real estate agent sold you a home you cannot afford and then her mortgage broker buddy placed you in a fraudulently, toxic loan that has literally eaten you alive. Now, these same snakes want to help you “cure” your [...]


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Countrywide Borrow …feedback on your article…

Email Contributed by Brandy Hi Moe,   Your article Countrywide Hope Department Blues dated Aug 22nd is so true. I’ve been on the merry-go-round for nearly three months now and we have finally come to a reasonable loan modification, but [...]


Posted in Mortgage News | 13 Comments

Get FREE Help in the Inland Empire, CA. with Your Loan Modification or Foreclosure

The Loan Safe Advocacy Group in association with the Law Offices of Marshall E. Rosesnbach and the media is proud to announce that we are now offering for a limited time FREE help to 10 lucky homeowners that are facing [...]


Posted in Loan Modification News | 9 Comments

Will Project Lifeline be Another Foreclosure Flop?

First we had the FHA Secure loan that was “supposed” to be a life raft for hundreds of thousands of homeowners. Then we had the Hope Now coalition led by US Secretary Paulson and his army of lenders that took [...]


Posted in Loan Modification News | 3 Comments

Non-Profit Mortgage Brokers Have Begun Their “Secret” Attack on the Mortgage Industry

The era of the non-profit mortgage broker has begun and it looks like the non-profit armies are rounding up the troops for battle. I know, I know, for profit loan officers and brokers are saying, “Yeah, right! They can’t do what [...]


Posted in Mortgage News | 23 Comments

Should Lenders be Allowed to Participate in the Mortgage Clean Up Process?

This has been bugging me for quite sometime now and I thought I would dedicate a blog post to voice how sickened I am by the fact that the very companies and people who have single handedly created this housing [...]


Posted in Mortgage News | 63 Comments

Countrywide to Announce New Deal With ACORN

Countrywide Home Loans has cut a new deal with and organization that used to be a formidable foe, the Association of Community Organizations for Reform Now, or ACORN. Apparanetly this new agreement, states that Countrywide will work with struggling h0homeowners and to try to [...]


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Loan servicer Homecomings sued over fees

A group of homeowners is suing Homecomings Financial, a Bloomington-based loan servicer handling nearly 800,000 mortgages, accusing it of charging dubious fees as it processes homeowners’ monthly payments. The lawsuit, filed Thursday in U.S. District Court in Minneapolis, is the [...]


Posted in Scam & Fraud News | 9 Comments

Foreclosure Hall of Shame – Clark County Nevada & Riverside California

Clark County, Nevada and Riverside, California are leading the pack of counties in the country with the most foreclosures per zip code. This foreclosure contest will not put these counties in the hall of fame. But rather the “Foreclosure Hall of [...]


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Blogger Helps Save 19 Homeowners From Foreclosure

  By Moe Bedard – I don’t really like to toot my own horn, but sometimes it is necessary to get the word out there. I am proud to announce my website at www.LoanSafe.org has helped 19 homeowners save their [...]


Posted in Loan Modification News | 38 Comments

The Truth in Lending Act – Let the lawsuits begin!

In the past, no one really sued anyone over their mortgage. Hell, if you had a problem with your loan, you just refinanced right out of the bad loan and into a new one. No harm, no foul. Now, the home loan tides have changed and [...]


Posted in Mortgage News | 62 Comments

Senator Chris Dodd proposes setting up a fund that would buy defaulting subprime mortgages and restructure loans for borrowers

NEW YORK (CNNMoney.com) — A proposal to bail out subprime mortgage borrowers who are at risk of foreclosure was floated at a Senate Banking Committee hearing Thursday. Senator Chris Dodd, the committee chair, said he is working to create a [...]


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Mortgage Bankers’ Defense Remains Unconvincing: Voluntary Foreclosure Prevention Is Not Working

DURHAM, N.C., Jan. 31 /PRNewswire-USNewswire/ — Recently the Center or Responsible Lending (CRL) released an analysis showing that during the third quarter of 2007, mortgage lenders initiated foreclosures seven times more requently than they modified mortgages, and 13 times more frequently [...]


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FDIC: Subprime Modifications ‘Lagging’

WASHINGTON — The pace of loan modifications on adjustable subprime mortgages is lagging, which could prompt regulatory action on the mortgage industry, U.S. Federal Deposit Insurance Corp. Chairman Sheila Bair warned Thursday. “Unfortunately, at this point, the available information seems [...]


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