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- earn money with affiliateForum: UNITE & FIGHT - Share Your Ideas on How Homeowners Can Fight Back Against Fraud Posted By: jayalee Post Time: 05-22-2012 at 11:09 PM […]
- HAMP with GreenTree, short sale or foreclose?Forum: Short Sale Outpost Posted By: oceanside Post Time: 05-22-2012 at 07:50 PM […]
- CITI Deed in Lieu, No short sale. Done?Forum: Citi Mortgage Posted By: mashad Post Time: 05-22-2012 at 07:18 PM […]
- Twenty Percent of Households Remain UnderwaterForum: Real Estate & Property Investing Posted By: Evan Bedard Post Time: 05-22-2012 at 06:11 PM […]
- Letter of SubordinationForum: Loan Modification Posted By: Jerem Post Time: 05-22-2012 at 05:23 PM […]
- Consumer Financial Protection Bureau--THIS is too good not to Share!!!Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: Upside Post Time: 05-22-2012 at 05:14 PM […]
- 1 of 2 BofA loans transferred to Green Tree - Refi options?Forum: Refinance Posted By: anthonyL Post Time: 05-22-2012 at 05:10 PM […]
- Payday loan help!Forum: Debt Management Posted By: MRDAVIDALEXANDER Post Time: 05-22-2012 at 04:45 PM […]
- WF ready to settle 2nd what should be in letter?Forum: Debt Settlement Posted By: WorkSearch Post Time: 05-22-2012 at 04:25 PM […]
- Own home, owe taxes, no job-Help!Forum: Foreclosure Prevention Services Posted By: Virginia Sister Post Time: 05-22-2012 at 03:46 PM […]
September 2008
Uncle Sam Realty and Loans Inc.
Sadly, recent events in Washington suggest that this optimism of some kind of meaningful rescue plan for Main Street may have been misplaced and that politicians, never the most economically intelligent of mankind, may be working towards constructing the Great [...]
Citigroup will absorb Wachovia’s loans
Wachovia announced this summer it would stop offering pick and pay loans, but that wasn’t soon enough for thousands of homeowners like Marie, who are already in those loans. Citigroup did not return our calls on Monday seeking comment about [...]
Bailout: Little help for homeowners
NEW YORK (CNNMoney.com) — The $700 billion bailout legislation now under consideration by Congress calls for the Treasury Secretary to implement a plan to stem foreclosures by working with servicers to modify loans. But many housing experts question whether the [...]
Even with bailout, mortgage delinquencies will likely worsen
The “proposal is positive for the housing market to the degree that it shores up the banks’ ability to lend and prevents banks from closing their doors, that is key to finding stability for the housing market,” says Susan Wachter, [...]
The “loan modifications,” Coakley said, would have kept homeowners in their homes under affordable, “sustainable” terms.
Little more than a week ago, Massachusetts Attorney General Martha Coakley was in Washington, D.C., testifying before the U.S. House Financial Services Committee about the state’s prosecution of auction-rate securities fraud. However, more interesting was written testimony Coakley submitted to [...]
Wachovia Option-ARM Mortgage Losses May Force Merger
Sept. 29 (Bloomberg) — Wachovia Corp., under increasing pressure after shares of the sixth-biggest U.S. bank by assets plunged 47 percent last week, may be forced to seek a buyer or merger partner as losses from mortgage defaults mount. Three [...]
Bailout includes no bankruptcy aid for homeowners
The Wall Street rescue deal does not include a provision allowing judges to revise loans on primary residences. LA TIMES WASHINGTON — As congressional negotiators labored over the giant financial bailout plan last week, business leaders saw little to applaud [...]
Bailout: What’s in it for homeowners
Sunday’s revised plan calls for the Treasury to work with loan servicers to stem the tide of foreclosures, but how that will happen remains unclear. NEW YORK (CNNMoney.com) — The revised $700 billion bailout legislation unveiled Sunday calls for the [...]
Emergency Economic Stabilization Act of 2008 Gives Little Hope for Homeowners
I personally have read over the preliminary details of the 106 page Wall Street Bailout Bill, called the Emergency Economic Stabilization Act of 2008 and I am disappointed to say the least. This was the most significant federal intervention in [...]
The Mortgage Servicing Sector Has Failed & Is In Complete Chaos
The facts remain that without provisions mandating loan workouts and loan modifications, increased regulation on mortgage servicers, servicer accountability and without complete 100% control of these mortgages, themselves, this bailout plan WILL NOT work. Well, at least for the people on [...]
Lost Home Not a Lost Voice, Official Says
Maryland Attorney General Douglas F. Gansler instructed local and state election officials to make certain that voters who have lost homes to foreclosure know that they have not lost their right to vote. Gansler (D) sent a letter this week [...]
Provision to Alter Loans Is Sought
A push by Democrats to include in the proposed Wall Street bailout new legislation that would allow U.S. judges to modify mortgages for people in bankruptcy potentially could save hundreds of thousands of homeowners from future foreclosure, judges and other [...]
Will Congress Give the Courts Power to Modify Mortgages?
Congress voted that primary residences would not be allowed to be modified when they rewrote the bankruptcy laws in 1978. I wonder who swayed that decision (banks maybe)? Bankruptcy judges already have the ability to modify the terms of other [...]
Senator Clinton Speaks on Loan Modifications and Help for Homeowners
Please Watch the CNN Money Video: Clinton – “The Time to be Decisive”
What about my mortgage?
NEW YORK (CNNMoney.com) — The Bush administration wants to help beleaguered financial institutions – and prevent the financial crisis from getting worse – by spending $700 billion to buy up troubled mortgage securities. But many struggling homeowners are asking: “Where’s [...]
Will the Bailout Help Homeowners on Main Street?
If US Treasury Secretary Paulson and President Bush have it their way, the world’s largest bail out will give the US Treasury what is essentially a blank check to do with it as they please. Meanwhile, the tax payers and the homeowners footing the [...]
Lenders Offering Homeowners Little Aid, Congress Told
The House Financial Services Committee is holding hearings this week into mortgage lenders’ efforts to help struggling homeowners avoid default. The testimony from one state official was less than encouraging. “Based upon our experiences in Massachusetts, lenders, holders and servicers have [...]
Welcome to Washington Street – They Get Trillions While You Get Kicked Out of Your Home!
It looks like American tax payers on Main Street America may be on the hook for trillions of dollars as we try and figure out how to get gas in the car to find a second job and not lose [...]
New Study Shows Wells Fargo Offers Very Little Help to Struggling Homeowners
I had the privilege of receiving a new study done on Wells Fargo via email by Valparaiso University law professor and member of the Federal Reserve Board’s consumer advisory council, Alan M. White this past week. The study concentrated on a pool [...]
Statement of Sheila C. Bair Chairman FDIC on A Review of Foreclosure Mitigation Efforts
Applying workout procedures for troubled loans in a failed bank scenario is something the FDIC has been doing since the 1980s. Our experience has been that turning troubled loans into performing loans enhances overall value. In recent years, we have [...]
Who’s My Mortgage Lender this Week?
Imagine you go to a Ford dealership, test drive a car, and then sign a contract to buy it. But as soon as the deal is done, they tell you you’re actually getting a Chevy, and the dealership across the [...]
U.S. Holds the Whip Hand in Modifying Mortgages
For much of the last year, Washington officials have been pressing the mortgage industry to modify home loans and avoid foreclosures. Now, the extraordinary government intervention in Fannie Mae, Freddie Mac and a growing number of banks puts federal agencies [...]
IRS Tax Laws on Short Sales
Disclaimer: I am not an accountant or an attorney. It is important to consult with a professional tax attorney or accountant when considering the implications of the law regarding your individual situation. In order to avoid home foreclosures, which can [...]
Bank Armageddon: The FDIC is Strapped for Cash
The Federal Deposit Insurance Corp (FDIC) looks to be strapped for cash. Just like the banks and the American people for which their cash, they protect. It looks like they’re following in the footsteps of Bear Stearns, Freddie and Fannie [...]
A Deed in Lieu of Foreclosure as a Cure for Your Mortgage Woes
For home borrowers (”mortgagors”) facing foreclosure, a deed in lieu of foreclosure provides an alternative solution to the standard default process. In particular, the deed grants the lender, the “mortgagee”, full rights to the property title to satisfy the conditions [...]
Democrats Call for a Fannie & Freddie Foreclosure Freeze
When I hear the word, freeze, in regards to the mortgage and housing crisis, I immediately think of Arnold Schwarzenegger in Batman and Robin as Mr. Freeze with his super duper freeze gun. Freezing everything in sight! Yes, sometimes I fantasize [...]
JD Powers Mortgage Servicing Survey is a Complete Joke
Don’t these guys just rate cars and appliances? That’s what I thought until I saw the new survey titled simply, “Satisfaction with Mortgage Servicing Declines for a Second Consecutive Year.” Looking down the list of small time and big time [...]
Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges of Unlawful Mortgage Servicing and Debt Collection Practices
Attention American Homeowners: Do you think your servicer may be charging you fees illegally, abusing the debt collection laws or just plain scamming you? Guess what? They most likely are and if you do not do anything about it. You [...]
I did lose it all. I have no job, no car, no HOME, and no “AMERICAN DREAM!”
Written by Jenzy. A 56 year old American woman, homeowner, and another mother who has lost her American Dream. I once owned two businesses, and had a nice car and a roof over my head. I lost it all at age [...]
Where’s the Wachovia Loan Modifications?
Where’s the loan modifications Wachovia? That’s what many homeowners are telling me daily and also your employees who seem readily available to tell us that Wachovia is not offering loan modifications at this time and to literally take a hike. The San [...]
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