Archive for May 2008
You are browsing the archives of 2008 May.
Boiler Room 2.0 - Investors Press Lenders on Bad Loans
Two bad loans go around the outside, around the outside, around the outside……………………
Two fraudulent loans go around the outside, around the outside, around the outside. Now, dosie doe your investor.
Looks like investors have finally got hip to the fact that they bought a bunch of fools gold on Wall Street.
Imagine that? These gigantic investment brokerages [...]
Popularity: 6% [?]
Real Estate Agents Gone Wild - Homeowners Beware!
No, this isn’t a late night infomercial with the “Worlds Sexiest Realtors” showing off their assets. This is a sick and not so new phenomenon I call “Real estate agents gone wild.”
Take this article I picked up today in my Google Alerts:
Elias Escobedo, 41, lost his house earlier this month when it was foreclosed on, but not because he [...]
Popularity: 8% [?]
Under Secretary for Domestic Finance Robert K. Steel Remarks Before the President’s Advisory Council on Financial Literacy Subcommittee on the Underserved
Washington- Thank you and good morning. Let me first congratulate you on a timely and important meeting. I especially want to thank the President’s Advisory Council on Financial Literacy and the Subcommittee on the Underserved for organizing this meeting.
In particular I want to thank the subcommittee chair, John Hope Bryant, as well as Council members [...]
Popularity: 6% [?]
Foreclosure Nation: Squatters or Pioneers?
Mamyrah Prosper steps gingerly over ankle-high grass strewn with plastic bags and empty soda bottles in the yard of a vacant redbrick house in Miami’s Liberty City. She peers through a gap in a boarded-up window. “It looks in good shape,” she says. “I mean, the walls aren’t falling down. This is definitely one of [...]
Popularity: 6% [?]
Will I go to jail because of my bills? Will I lose my kids because I am homeless?
Submitted by an American Homeowner:
The most crushing thing to me has been the judgement. Every single situation has a story behind it and they are NOT all bad.
Who is the “real” enemy here? Those who were spoon fed the American Dream and wanted a *home*? Who had poor education and were guilty of trusting their [...]
Popularity: 6% [?]
Lenders are delaying deals that could save everyone - including the lenders themselves - a lot of time and money.
NEW YORK (CNNMoney.com) — Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone - including the lenders themselves - a lot of time and money.
Lenders are taking much longer than necessary to approve short sales, according to Duane LeGate, of House Buyers Network, a short sale specialist.
In [...]
Popularity: 6% [?]
New York Fed Announces Formation of the Lawyers’ Foreclosure Intervention Network
The Federal Reserve Bank of New York today announced the formation of the Lawyers’ Foreclosure Intervention Network (LFIN), a pro bono pilot program cosponsored by the City Bar Justice Center, the legal services arm of the New York City Bar. Led by director Lynn Armentrout, LFIN has as its mission marshaling the resources of New [...]
Popularity: 6% [?]
Fannie Mae boosts mortgage counseling program
NEW YORK (Reuters) - Fannie Mae, the largest provider of funding for U.S. residential loans, is boosting its program that pays counseling fees for delinquent borrowers as it works to curb foreclosures and its own losses.
Fannie Mae (FNM.N: Quote, Profile, Research) is extending a temporary program to reimburse mortgage servicers for counseling costs through the [...]
Popularity: 6% [?]
Obama criticizes John McCain saying that he is “out of touch with the struggles of working people.”
The candidates have been scurrying to obtain support from the American consumer. AKA, The American worker, blue collar folks or Homeowner Joe.
In their attempts to connect, are they just showing how disconnected they really are?
The guy suffering in the street is someone that all presidential candidates are out of touch with. How can any of the candidates [...]
Popularity: 6% [?]
GUESS THIS MEANS THAT WE HAVE TO BE READY TO LOSE OUR HOME BEFORE WE CAN GET ANY HELP.
Submitted by Reader:
5/22/2008
To whom it may concern:
The letter sent below was responded too by ACCOUNT MANAGER IN THE WORK OUT DEPARTMENT NAMED SARAH, WHO ADVISED ME THAT THERE IS NOTHING THAT CAN BE DONE UNTIL I AM DELINQUENT ON OUR PAYMENTS. THE GUIDE LINES THEY ARE GIVEN BY THERE LENDERS ONLY COVER PEOPLE WHO OUR [...]
Popularity: 6% [?]
Countrywide Buys Homeowner’s Silence Over Angelo Mozilo’s “Disgusting” Email
Welcome to the new way of putting muzzles on homeowners that can shed some light on Countrywide’s widely known practice of customer abuse. Fix their loan in record time, give them a deal they could have never have thought of in their wildest dreams and make them sign a confidentiality agreement.
Such as the case of [...]
Popularity: 6% [?]
Fight Your Mortgage Servicer With This Knock Out Punch
The facts are that the mortgage servicing arena is fraught with what I call “mortgage disservice.” Fee gouging and borrower abuse seem to be the typical MO’s of many servicing companies and with our current mortgage and housing crisis in full , this is a perfect opportunity for servicing companies to rake in massive fees [...]
Popularity: 6% [?]
A Real Countrywide Email From the Office of Angelo Mozilo - Email Below Calls Homeowner Disgusting
It isn’t every day that you get to see behind the scenes of the housing and mortgage crisis. Mainstream media usually tells the same homeowner story of pain and suffering and then the “made up” stories from the lenders and servicers who are masters of deception and lip service.
Here is an email that was forwarded [...]
Popularity: 8% [?]
Your Loan Documents May be the Secret Key to Obtaining a Loan Modification
I have studied and written about the subject of loan modifications probably more than anyone in the world. My studies and writing have opened my eyes to how the loss mitigation process works and what a homeowner needs to do to get a loan modification with their lender or servicer.
What started out has just a blog to help [...]
Popularity: 7% [?]
BofA CEO sees more consolidation in bank industry
The head of the nation’s largest consumer bank says the ongoing U.S. economic downturn will accelerate consolidation in the banking industry.
Bank of America Corp. (nyse: BAC - news - people ) chief executive Ken Lewis spoke Thursday to business students at New York University. He said the nation’s financial service companies are likely to come [...]
Popularity: 30% [?]
The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs
Thomas Jefferson was the third President of the United States (1801–1809), the principal author of the Declaration of Independence :
BANK (NATIONAL) (THREAT TO LIBERTY)
If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will [...]
Popularity: 3% [?]
Remarks by Secretary Henry M. Paulson, Jr. on the U.S. Economy, Housing and Capital Markets
May 16, 2008
HP-981Before the Washington Post 200 Lunch
Washington - Thank you, Len. Over the last forty years, Washington has transformed into a diverse corporate center. Congratulations to the Post for recognizing this through their annual list of 200. And I am pleased to join you and represent the “old” Washington, the less than ten [...]
Popularity: 6% [?]
Barney Frank, “If loans were only originated by banks, thrifts and credit unions, we would not have the subprime crisis.”
“We see this in the subprime crisis. If in fact residential mortgage loans were made only by banks or thrifts or credit unions, then we would not have a sub prime crisis. And we would not have the economic problem we now have.”
And with the mess in the real estate markets, sub prime mortgage crisis, [...]
Popularity: 2% [?]
I feel for you, and I know how difficult dealing with COUTNRYWIDE can be
Submitted by a homeowner, Carrie from Florida:
Hi R. Whelan,
I feel for you, and I know how difficult dealing with COUTNRYWIDE can be. I found this awesome forum:
www.loansafe.org more specifically:
www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/ this forum is dedicated to help homeowners and the specific part of the site only to CountryWide homeowners. This site has been a blessing for me and my [...]
Popularity: 3% [?]
Foreclosure flood: 1,000 auctions per day in California
California’s foreclosure crisis passed another ominous milestone in April, when more than 1,000 foreclosed homes were auctioned off every weekday at courthouses across the state, the auction tracking firm ForeclosureRadar reported today.The April total of foreclosure sales at auction — 22,838 for the state — represents a jump of 44% over March totals and the [...]
Popularity: 2% [?]
Are You Being Over Taxed? Proposition 8 Protects Homeowners
Homeowners need all the help they can get and taxes are no exception.
I reside in the Inland Empire in Riverside County California where values have dropped 50% in some areas. Homes that sold for over $1 million, now are being sold on the foreclosure chopping block for 1/2 that price and this is just in [...]
Popularity: 2% [?]
Safe Loan Modification Service
888-432-6634
M-F 8am-7pm PST
Open Saturdays 9am-3pm
Law Office of Gregory A. Paiva & Associates
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- JacMac … you are not ignorant … you got caught up in the “shell game” that was being promoted by several lenders to mortgage brokers (354)
- Countrywide's Mozilo Hushes Homeowner With an Unaffordable Loan Modification (208)
- Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court - "They Own Nothing!" (185)
- Talk to Litton to Modify Your Loan Today (164)
- Ex- Countrywide Employee Reveals a Secret Ingredient in Mr. Mozillo's Original Toxic Loan Recipe (158)
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I can relate with this couple. I contacted WaMu in a proactive effort to get assistance during a hardship ...
disillusionedVeteran | 3Sep08 | More -
Did they change the terms of your loan to an arm? This is too risky
catan785 | 13Aug08 | More -
catan785 | 13Aug08 | More
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