September 2009

Your neighbors are always watching. That much is clear from the story about the Wells Fargo executive who was reportedly throwing parties in a swank Malibu house that the bank had claimed from its struggling owners. It was the neighbors [...]

Wells Fargo executives sure know how to party. They may suck at mortgage servicing and loans modifications, but they sure know how to have Malibu beach front foreclosure romps. A Wells executive, Cheronda Guyton, senior vice president for foreclosed commercial properties [...]

Ohio Gov. Ted Strickland said on Thursday he backed the state attorney general’s efforts to sue mortgage servicers who fail to work with troubled borrowers to avoid foreclosure. “For those servicers who aren’t willing to work with us and cooperate [...]

Inland Empire, California residents can come to Moreno Valley this Saturday, September 12th to meet face-to-face with your lender and work one-on-one with a home foreclosure prevention counselors. A local non-profit operated by former Norco mayor and real estate expert, [...]

Waters: When you bought the loan from this mortgage company, you had to look at it to see what you were buying, right? Coffin: Not loan by loan. Waters: Not loan by loan. You got packages? Coffin: [Nods in agreement.] [...]

Here is further proof of what I have been writing about for quite sometime. The facts are that banks are delaying placing homes on the market, loan modifications, short sales etc. in order to pump up their books for quarterly [...]

WASHINGTON, Sept. 9 /PRNewswire-USNewswire/ — The following is a statement by Michael Calhoun, President, Center for Responsible Lending: The federal report card on the mortgage industry’s voluntary effort to stop foreclosures shows a growing number of families have received a [...]

Assembly Speaker Mike Sheridan’s (D-Janesville) “Speaker’s Taskforce on Preventing Home Foreclosures” also recommends a law requiring court officials to notify municipal clerks when a home has been abandoned, and that Wisconsin’s financial education standards for students include information on the [...]

Wells Fargo is offering a sit-down with a loan-modification specialist for its Arizona customers struggling to afford their mortgage payments. The lender’s Home Preservation workshop at the Phoenix Convention Center is open to borrowers today and Thursday. Wells Fargo has [...]

About 70 percent of the $189 billion in outstanding option ARMs will reset by 2011, the report said, which would be another setback to a teetering housing market still struggling to recover from the mortgage meltdown that precipitated the financial [...]

Bank of America, the country’s largest lender, said Tuesday it had more than doubled the number of people it has helped under a government foreclosure prevention program last month. Under the program, known as Making Home Affordable, lenders are paid [...]

WASHINGTON -(Dow Jones)- U.S. officials on Wednesday are set to defend their effort to help borrowers obtain loan modifications amid rising concerns that the government program is no match for the relentless pace of foreclosures. Mortgage servicers have had trouble coping [...]

The government has the power to decide who is qualified for a loan and who is not. As a result, many borrowers among both poor and rich are frozen out of the market. Nearly one-third of those who obtained home [...]

Last week, U.S. District Judge Shira Scheindlin threw out a key free-speech defense that credit raters had used for years to thwart investors’ fraud suits, knocking $1.5 billion off the market value of Moody’s Investors Service Inc. and the parent [...]

Ashburn then saw a CBS 5 newscast last week that included a statement from a Wells Fargo executive promising to help homeowners who have hit a roadblock with their loan modifications. Minutes later, she picked up the phone and called [...]

Thieves made off with the home’s $30,000 custom-kitchen and other fixtures after it went into foreclosure. Custom cabinets, appliances, granite countertops and other fixtures just disappeared one day. “These are fixtures that are supposed to be part of the house. [...]