December 2009

We need help desperately!! We have 6 children and we love the neighbors and school we have! we have had this loan for 1 year, and for about 1 year we have been treated like idiots by B of A! [...]

That’s when Howard County consumer protection officials stepped in, filing suit against Stewart D. Sachs, president of Bay Capital Corp., which sent the letters; and Heavyweight Title Co. They also obtained a temporary restraining order to prevent the eviction of [...]

There’s been some debate in academic circles lately about why more financially distraught homeowners don’t just pack up their belongings and walk away. The short list of reasons: moral shame, fear of credit repercussions, and social and governmental pressure, according [...]

Under intense pressure to help more people stay in their homes, mortgage lenders canceled far more scheduled foreclosures in November than in the previous month, according to a report Tuesday. A total of 10,469 scheduled foreclosures were canceled in November [...]

Arkansas Securities Commissioner A. Heath Abshure issues a press release pertaining to the entry of an order directing First Universal Lending, LLC to immediately cease and desist from all mortgage loan activity in Arkansas until properly licensed. Source: Arkansas Securities [...]

Many homeowners are receiving bogus letters from a company claiming they can reduce their property taxes after paying a small fee. When in reality, this is most likely not legitimate service and what many county officials are calling theft by [...]

“While economists and Realtors try to read favorable signs into national home sales data, frustrated Florida community association owners foresee 2010 actions ranging from potential community bankruptcies at one extreme, to deferred maintenance, amenity cuts and a lowering of association [...]

Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations‘ drugs and crime tsar has told the Observer. Antonio Maria Costa, head of the UN Office on Drugs and [...]

Lenders say borrowers aren’t submitting the paperwork required to complete the program, but homeowners cite companies losing paperwork or claiming they never got it. “We’ve had to resend documents and resend them and resend them,” Tyson said.

The Nevada Foreclosure Mediation Program has some new members. 75 new mediators were sworn-in Friday by the Nevada Supreme Court, bringing the total number to 170.

Kathy Schwed spends her days teaching special education. She spends her nights caring for her 11-year-old triplets, two of whom have autism. There isn’t much free time in between. What time she has, though, has been spent trying to convince [...]

Last month, the Sheriff’s Office served a notice of foreclosure. “This is heartbreak stuff,” said London, his voice breaking. “They make you feel like you’re scum.” The Londons are the newest face of borrowers at risk of losing their homes.

Levittown resident David Ramnauth Thursday surrendered to federal authorities at the FBI office in Manhattan in connection with an alleged $23- million mortgage scam run out of his Queens mortgage broker firm, GuyAmerican Funding Corp., the U.S. attorney’s office in [...]

“It’s just a better life. It really is,” says Ms. Richey. Before defaulting on her mortgage, she owed about $230,000 more than the home was worth. People’s increasing willingness to abandon their own piece of America illustrates a paradoxical change [...]

Yes, another classified ad for what I feel MUST be an illegal loan modification chop shop. This time it is in Santa Barbara, California. WANTED – Experienced Loan Modification Deal Closers (Santa Barbara) Posted December 10th, 2009 by Accounting Fina…City: [...]

Trial modification, take 2Richton Park resident Rose Chisholm received a trial modification this summer from Chase that reduced the payments of her mortgage, which had been an option ARM, to $1,534 and set a fixed interest rate. After staying current, [...]

More than 700,000 homeowners are in three-month “temporary” trial loan modification plans, but mortgage servicers have managed to convert only 31,382 to permanent  modifications, according to the Treasury Department’s November report released today.    Given that the industry voluntarily modified, [...]

The bailout effort has been mixed at best, according to the report, with everything from ongoing bank failures to mounting job losses and foreclosures. And in particular, a much touted effort by the Obama Administration to