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- Sherrie Lyons-Bray on Parsa Law Group – Targeted by California Attorney General
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- Jim Demetz on Does NACA lie to homeowners and the media? YES!
- HOMEOWNERS RIGHTS ON FORECLOSURES on Homeowner rights while in foreclosure
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- A year later after my Strategic Default - some eye-opening surprises..Forum: Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Posted By: Hanover Post Time: 05-16-2012 at 11:01 AM […]
- B of A Survey? Anyone else get one?Forum: Bank of America Home Loans Posted By: skoobywrx Post Time: 05-16-2012 at 10:01 AM […]
- Bank of America is a joke!!!!Forum: Bank of America Home Loans Posted By: mayela Post Time: 05-16-2012 at 09:59 AM […]
- On Chase Repayment Plan - Filed Chapter 7 - help please!Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: chased in seattle Post Time: 05-16-2012 at 07:28 AM […]
- Will A Line of Credit Foreclose??Forum: US Bank Home Mortgage Posted By: tazzaro Post Time: 05-16-2012 at 12:35 AM […]
- Need advice and directionForum: Wells Fargo Home Mortgage Posted By: menmn Post Time: 05-15-2012 at 09:49 PM […]
- Are we just out of 8 months worth of payments.. they suddenly stopped accepting payments.Forum: Bank of America Home Loans Posted By: FrustratedInSoCali Post Time: 05-15-2012 at 09:35 PM […]
- Done with Citi - Loan Mod process a jokeForum: Citi Mortgage Posted By: done with citi Post Time: 05-15-2012 at 09:01 PM […]
- need advice regarding my fannie mae mod please!Forum: Loan Modification Posted By: trixi Post Time: 05-15-2012 at 08:44 PM […]
- foreclosure refForum: US Bank Home Mortgage Posted By: squiz Post Time: 05-15-2012 at 08:10 PM […]
October 2008
Hope for Homeowners List of Lenders
HUD has released their Hope for Homeowners (H4H) approved lender list that you can access below. HUD, “When contacting any of the HOPE for Homeowners lenders on the list, borrowers “are strongly encouraged to contact your servicing lender and any subordinate lien [...]
Hope for Homeowners: Will it Help You?
The Hope for Homeowers (H4H) program has been launched and as I have mentioned before here on LoanWorkout, I am very apprehensive as to what this will do for struggling homeowners on Main Street. The reason I am looking at [...]
Calif.’s Boxer urges more help from mortgage firms
WASHINGTON – Sen. Barbara Boxer on Friday pressed for action from 21 banks and lenders that an advocacy group has accused of insufficient support for at-risk homeowners in California. Boxer, D-Calif., sent letters to executives at the mortgage servicers urging [...]
Home-Loan Help Lags, As More Borrowing Goes Bad
More must be done, say loan modification specialists IBD spoke with. Overloaded With Loans “Really, we have a national catastrophe,” said Moe Bedard, president of Loan Safe Solutions, a mortgage-auditing firm in Corona, Calif. Hard-hit by foreclosures, California is seeing [...]
Bair, “Permanently modify it, get people in a mortgage they can afford.”
FoxBusiness – Let me begin with the FDIC Chair Sheila Bair who is featured on the cover of today’s Wall Street Journal criticizing the federal government’s plan for failing to address homeowners at risk of foreclosure. Her comments could not [...]
NJ Gov. Corzine Wants Foreclosure Mediation
TRENTON (AP) ― Gov. Jon S. Corzine laid out a sweeping financial rescue plan for New Jersey on Thursday that includes immediate assistance for homeowners facing foreclosure, tax breaks for businesses, and plans to create jobs by jump-starting highway and [...]
Homeowners Ask: Hey, Washington, a Little Help?
TIME Magazine – All told, some 6.5 million families will lose their homes to foreclosure in the next few years, according to the projections of financial firm Credit Suisse. Even so, the troubled U.S. homeowner is not among the priorities [...]
FDIC’s Sheila Bair Criticizes the Federal Government for Failing to Protect Homeowners
As I have reported here on LoanWorkout.org many times before, the FDIC’s Chairwoman, Sheila Bair, seems to be the only ”caring soul” in Washington that seems to have a true “grasp” of the mortgage and housing realities (nightmares) here on Main Street. Over the [...]
Does Your Lender Have the Right to Foreclose on You?
By Moe Bedard (Filed Under Stop Foreclosures Effectively) This is the question of the day floating throughout the legal blog sphere and I wanted to elaborate on this subject that we have covered extensively here “first” on LoanWorkout.org in the [...]
FDIC Gives Indymac Pay Option ARM Borrowers Till Next Friday to Seek Mortgage Relief
Paul Kielsel, an attorney and fellow blogger in Los Angeles, Ca. is reporting that the the FDIC is giving Indymac borrowers who have negative ammortization mortgages AKA Pay Option ARM’s till Friday October 24th to seek a loan modification or [...]
FDIC Simplifies Coverage Rules for Mortgage Servicing Accounts
The FDIC Board of Directors today adopted an interim final rule, effective immediately, to simplify the deposit insurance rules for accounts held at FDIC-insured institutions by mortgage servicers. Under the FDIC’s current rules, accounts maintained by a mortgage servicer comprised [...]
Real Estate Short Sales the Right Way with Loan Safe
By Moe Bedard If you find yourself in a difficult real estate situation where your home and loan is upside-down, don’t fret, a short sale might just be the answer to help cure your mortgage woes. In today’s market, it [...]
Local foreclosure SOS being heard
After she was laid off two years ago, Rosemarie Cino tried talking to her mortgage lender when she fell $8,000 behind on her mortgage despite her jobs walking dogs, cleaning swimming pools and driving for Federal Express. “They didn’t even [...]
Cook County Sheriff Takes Stand Against Predatory Renting
In an op-ed piece in the Chicago Sun-Times explaining his decision, Sheriff Tom Dart said that “too many times,” his deputies have arrived at foreclosed properties to find tenants who have indeed paid their rent. But the property owner hadn’t [...]
The Year of Foreclosure Prevention Flops
Looking back over the last year, I can’t help but notice the ridiculous amount of clever names used by our government and other consumer advocates in relation to homeowner foreclosure assistance and relief. The latest Hope for Homeowners program has [...]
Mortgage servicers sucking loans dry?
Mortgage industry milking homeowners before foreclosure, critics say “I have had people in the [servicing] industry tell me that their best customer is the one who is always 30 days late,” said Howard Glaser, a former official at the U.S. [...]
11 State AG’s Calling for Nation’s Largest Loan Modification Program
In a move to follow in the footsteps of the recent Bank of America $8.4 billion predatory lending settlement, the State Foreclosure Prevention Working Group is adding pressure and much needed media attention on the mortgage servicing crisis. In a [...]
HUD to Fine Uncooperative Mortgage Servicers
HUD will assess civil money penalties against uncooperative mortgage servicers for failure to engage in loss mitigation with struggling homeowners. The letter does not specify the damages a servicer would incur. However, this is a step in the right direction and [...]
Longest Foreclosure Battle in US History Continues for Ohio Man
Supreme Court Denies Petition for Writ Of Certiorari of Couple Seeking Return of their Home taken under the Color of Law as the Trial Court lacked jurisdiction to Render Judgment as a Matter of Law. Cleveland, OH, October 6, 2008- [...]
California’s Luxury Home Foreclosure Crisis Deepening
Forbes magazine just came out with an article titled, “America’s Luxury Foreclosure Capitals” and California had a disturbing 24 of the top 25 troubled luxury foreclosure spots and nine of them were in Orange County (The OC) with the City of [...]
Bank of America Brand Seriously Infected by Countrywide Loans
“Today, I’m announcing the biggest loan modification in American history,” California Attorney General Jerry Brown said at a press conference Monday morning. “Bank of America settled because their new entity, Countrywide, was guilty of massive irregularities.” Thanks to the California [...]
Bank of America has Agreed to the Nation’s Largest Loan Modification Program of Countrywide Predatory Loans
“Countrywide’s greed turned the American dream into a nightmare for thousands of Californians who now face foreclosure,” said state Attorney General Jerry Brown, who led the negotiations for the states with Lisa Madigan, the Illinois attorney general. Countrywide was sued [...]
The Incentives of Mortgage Servicers: Myths and Realities
Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to [...]
Bank of America Announces Nationwide Homeownership Retention Program for Countrywide Customers
Nearly 400,000 Countrywide Borrowers Could Benefit After Program Launches December 1 Nearly 400,000 Countrywide Borrowers Could Benefit After Program Launches December 1 CALABASAS, Calif., Oct. 6 /PRNewswire/ — Bank of America today announced the creation of a proactive home retention [...]
Struggling borrowers face brick wall on loan workouts
Reductions in principal, on mortgages that now dwarf the home’s value, are nearly unheard of, even among the most willing firms. Just 2 percent of modifications — or less than 1 percent of all loan “workouts” — resulted in a [...]
US mortgage modifications level off, but may rise
Slower-than-expected growth in loan modifications may be tied to complex ownership of the loans that are collateral for bonds owned by investors with competing interests, analysts said. Many bond contracts stipulate no more than 5 percent of a pool can [...]
Killer Mortgages
The social impacts that this mortgage and foreclosure crisis are having on people, families and our communities are nothing short of devastating. What was once a rare occurrence has now become daily normal life in many neighborhoods across the country. [...]
Attorney: Bailout Bill Fails Foreclosed Homeowners
When Baron decided to become a homeowner a few years ago he thought he was doing the right thing. He says he went to the wrong person to make his dream of homeownership come true. “What they told us is [...]
Ohio woman, 90, attempts suicide after foreclosure
A 90-year-old Ohio woman, facing eviction from the home she has lived in for 38 years, shot and wounded herself this week, becoming a grim symbol of the U.S. home mortgage crisis. Addie Polk was found lying on the floor [...]
Modifying some of those loans
AS THE Bush administration and Congress try to untangle the fallout from the defeat of the Wall Street bailout, foreclosures continue to climb, financial companies fail, and the middle class economic squeeze worsens by the day. One significant action doesn’t [...]
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