August 2009

It looks like the Federal Loan Modification Center/ Fed Mod may be back in business under a new name in Irvine, California. I received the tips via comments left on this blog and other forums on the internet. http://loanworkout.org/2009/04/federal-loan-modification-center-aka-fed-mod-ftc-lawsuit/#comment-16002 Devastated [...]

* 93 pct say real estate values are lower than last year * 82 percent say values will continue to deteriorate NEW YORK, Aug 5 (Reuters) – An overwhelming majority of U.S. commercial real estate executives believe their industry is [...]

NEWARK, NJ FBI Press Release—It’s the type of  story that is becoming increasingly more common: FBI Special Agent In Charge Weysan Dun announced today the arrests of GARTH CELESTINE, age 44, of 535 Dean Street, Apartment 515, Brooklyn, New York; [...]

Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure is passing through — and enriching — companies accused of preying on the people they’re supposed to help, an Associated Press investigation has found. Foreclosure affects [...]

Getting rid of Ken Lewis was one of the best PR moves that Bank of America has done lately and it looks like they may make another great move by replacing Lewis with Barbara Desoer, current President of the Mortgage Division at [...]

WASHINGTON (Dow Jones)–Only 9% of eligible borrowers have received trial modifications under the Obama administration’s ambitious effort to help struggling homeowners, according to data released by the U.S. Treasury Department on Tuesday. Participating mortgage servicers, which receive hefty government payments [...]

More than 2,000 commercial properties in Maricopa County have received 90-day foreclosure notices since Jan. 1, representing $6.3 billion in real-estate loans on which the borrowers have failed to make payments. That number is staggering when placed in contrast with [...]

But industry critics have little patience for that kind of reasoning. In a blistering statement, the Center for Responsible Lending, a consumer advocacy group, dubbed the Administration’s list of mortgage companies a “Wall of Shame.” The group, like other housing [...]

AB – WASHINGTON — The Federal Deposit Insurance Corp. reiterated Monday that banks should look closely at potential losses on second mortgages and other kinds of home equity loans that could come under increased pressure as the foreclosure crisis continues. [...]

Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co., four of the largest U.S. mortgage servicers, are likely to show the poorest levels of homeowner assistance among the 31 companies participating in President Barack [...]

I just blogged the story about 21st Century Legal Services operating illegally in several states. Now I want to show you how these creeps get business and swindle homeowners. Not only is this company using notaries, but they are affiliated with [...]

Journal Sentinel – Officials with the state attorney general’s office said they are considering taking action against 21st Century after receiving complaints from Wisconsin residents. But nothing has happened yet, and 21st Century is likely still doing business in the [...]

Press Release – HUD SECRETARY DONOVAN ANNOUNCES NEW FHA-MAKING HOME AFFORDABLE LOAN MODIFICATION GUIDELINES New FHA guidelines projected to help thousands avoid foreclosure per year WASHINGTON – U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced the [...]

FBI – You arrive at the home on the agreed-upon date, but there’s just one small problem—the house is not actually for rent and its owners know nothing about your agreement. Craigslist used to be a cool place to find free [...]