October 2009

The investigations Green told her about are part of what the AG’s office calls “Operation Loan Lies,” a nationwide crackdown on loan modification and foreclosure relief companies that local and state officials call “scams.” The office has obtained a preliminary [...]

Nehemiah, the Sacramento, Calif.-based inventor of seller-funded down payment assistance, and its closest competitor, AmeriDream of Gaithersburg, Md., together facilitated 40 percent of all such loans backed by the FHA. Over eight years, they arranged 392,000 mortgages worth $54 billion, [...]

“The hole that has been blown in the labor market is absolutely enormous,” said Heidi Shierholz, an economist with the Economic Policy Institute. That hole continues to widen. On Thursday, the Labor Department said initial claims for unemployment insurance rose [...]

“You have to ask yourself: Are you just renting the home from the bank?” said Michael Joe, a foreclosure expert at the Legal Aid Center of Southern Nevada. “Would it be cheaper to walk away and rent across the street?” [...]

As the state’s foreclosure crisis continues, loan modification and foreclosure defense have been become hot specialties for some attorneys. The state attorney general has received a record 756 complaints through August of this year about loan modifications involving attorneys. That [...]

The number of government programs that have come out of Washington DC over the last three years and have done absolutely nothing to truly help homeowners has been a ongoing joke here on my blog and over in my forum [...]

Fact is there are no prescribed time periods for either scenario. Because of this arbitrary manner in which homes become official statistics, there’s a chunk of homes that miss the radar screen of economists. This “hidden inventory,” as it is [...]

SACRAMENTO, California—A federal judge has denied bail for a 28-year-old Sacramento man who was returned to California after an international manhunt. Garret Griffith Gililland III remains behind bars after pleading not guilty to 24 charges alleging he participated in a [...]