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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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. [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Homeowners Warning: Beware of new scams using this as a tool to fight lenders by scammers and out of work mortgage brokers everywhere!!! This post is from early 2008 and the times have changed folks. Yes, it can work and [...]
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 [...]
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 [...]
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. [...]
“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 [...]
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 [...]
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 — [...]
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 [...]
PMI Mortgage Insurance Co., the U.S. subsidiary of The PMI Group, Inc. (NYSE: PMI), today announced that it has issued new guidelines for modification of insured loans that will help more distressed borrowers save their homes. The new guidelines define [...]
NEW YORK, NY (05/11/2008; 1102)(readMedia)– Superintendent of Banks, Richard H. Neiman, today delivered a report to update Governor David A. Paterson on the progress made by the Governor’s Task Force to Halt Abusive Lending Transactions (HALT). The HALT Task Force [...]
House Democrats bring to the floor today a plan to stanch the home foreclosure crisis with measures that include government-backed mortgage refinancing and money for states to buy derelict homes, but Republicans say the $2.7 billion bill is nothing more [...]
Treasury officials met with about 10 leading mortgage firms yesterday to figure out why they have not helped more distressed homeowners, pressing the lenders to do better. At the closed-door session, Treasury staff members reviewed legal and financial issues identified [...]
PHILADELPHIA – A bankruptcy judge has rejected Countrywide Financial Corp.‘s proposal to settle accusations that it fabricated evidence used in a bid to foreclose on a home. Judge Thomas Agresti of the U.S. Bankruptcy Court in Pittsburgh on Tuesday dismissed [...]
New York Senator and Chairman of the Senate Judiciary Subcommittee on Administrative Oversight and the Courts, Charles Schumer has decried ‘Death by A Thousand Fees’; suggests better deterrence, stiffer penalties, and more disclosure to end ‘Vulture Mentality’ of mortgage lenders [...]
The servicing business has been going through some changes lately in the form or mergers and acquisitions. Obscene profits can be made in the servicing arena. Especially in today’s market of delinquencies and defaults. All this spells is extra fees [...]
Washington, DC – The U.S. House of Representatives acted today to help communities hit hardest by the housing foreclosure crisis, passing legislation introduced by Congresswoman Maxine Waters (CA-35), the Chairwoman of the Housing and Community Opportunity Subcommittee. By a [...]
Washington, DC – The U.S. House of Representatives today passed the most comprehensive response yet to the American mortgage crisis. The American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) responds directly to the current crisis facing middle class Americans [...]
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