March 2009

Attorney General Martha Coakley Obtains Temporary Restraining Order Against Company for Deceptively Advertising Foreclosure Relief Services and Soliciting Illegal Advance Fees BOSTON – Attorney General Martha Coakley’s Office has obtained a temporary restraining order against Express Modifications, Inc., d/b/a “Loan [...]

The subject of cramdown legislation is widely attended to by consumers and corporate executives alike. Consumers are paying careful attention as the bill, if passed, could give desperate homeowners another exit strategy from serious hardships caused by the worsening economy. [...]

AKRON, Ohio — Addie Polk’s solitude was shattered six months ago, when she shot herself in the chest as she was about to be evicted from her foreclosed home in Akron. “She was a very private person,” said Mary Dennis, [...]

SOUTH BEND, Ind. — Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox. Ms. James had [...]

~ Situation likened to a “state of emergency” ~ TALLAHASSEE, FL – Attorney General Bill McCollum today announced that he has sent a letter to several state agencies and associations, including the Florida Department of Law Enforcement, the Office of [...]

Wells Fargo CEO Stumpf worries that economy could cancel out his efforts to revive Wachovia and deal with toxic loans. He should be worried and the investors that own these loans  should be more than worried. They should be in court [...]

The state attorney general’s office is suing four Miami companies for allegedly charging customers upfront fees for loan-modification services in violation of Florida law. Named in the suit filed Wednesday in Miami-Dade Circuit Court are: Mortgage Crisis Solutions Association, Property [...]

* CMBS default rate could hit 3.5 percent by year-end * Bank default rate could reach 4.8 percent in 2011 * Commercial real estate prices may fall 35-45 pct from 07 peak  By Ilaina Jonas  NEW YORK, March 26 (Reuters) [...]

SAN DIEGO – Authorities asked for the public’s help Wednesday in locating additional victims of a San Diego foreclosure fraud scam in which victims were falsely told that “land patents” would protect their properties from foreclosure. District Attorney Bonnie Dumanis [...]

I really don’t think the government gets what is happening on Main Street and on the internet right now. The American people on Main Street are not getting the help they deserve and the criminals on Wall Street seem to [...]

Congresswoman Doris Matsui Advocates for Increased Consumer Protection Against Loan Modification Scams Presses Federal Trade Commission for Full Disclosure to Consumers of Financial Terms on New and Existing Loans WASHINGTON, D.C. – Rep. Doris Matsui (CA-05) addressed the Commerce, Trade, [...]