March 2010

Unbeknownst to the 71-yearold homeowner, he had somehow missed a mortgage payment a couple of years ago. The accumulating interest and penalties from the late payment threatened to put Mr. McConnell two months behind on his mortgage — and possibly [...]

Walking away sounds so attractive — I know. But throwing the keys in the ditch or the mail will have some troubling implications on your credit score, as well as possible legal ramifications. Also, how will you feel after giving [...]

Mark Zandi, chief economist for Moody’s Economy.com, said he expects the problem to get worse this year and next. “As people struggle to make ends meet, they will say this just doesn’t make sense” about continuing to make payments, he [...]

However, foreclosure stories defy classification and stereotype. They include families experiencing job loss or medical expenses, or even people who have fallen behind a few payments and who are awaiting evaluation for modifications but for whom the bank has pushed [...]

PHOENIX (AP) — Authorities say a real estate agent has been convicted of fraud for stripping fixtures from his foreclosed home in Anthem. Maricopa County prosecutors say it’s the first conviction in a “home stripping” case so far.

They got rid of their cell phones, Internet and cable services. They depleted their savings and 401(k) plans. Their van was repossessed. A powerboat that was written off by a bank still sits in their yard. Her husband is working [...]

An Ocala man who posed as a mortgage broker and submitted falsified loan documents to a now-fallen national mortgage home lender has been ordered to serve an eight-year prison sentence. Hector L. Rivera, 53, was arrested in December 2008 on [...]

“A good candidate for a loan modification is someone who has found that the payments [of a loan] have become overwhelming…due to a loss of a job or a reduction in income that they have become unable to make that [...]

A Buffalo family who spent nearly a year fighting for a loan modification through the government’s “Making Homes Affordable” program, just learned they can afford to stay in their home. Jewel Zwack contacted 5 EYEWITNESS NEWS because she and her [...]

“It used to be that we could ‘underwrite’ a loan and use common sense to navigate individual circumstances and actually make a decision that a loan was a good credit risk.  Then DU and LP came along and gave us [...]

NEW YORK, March 4 (Reuters) – Four top executives of Thornburg Mortgage (THMRQ.PK) improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new [...]

Mack-Westrom believes KALW’s coverage contributed to the positive outcome. He says a couple days after our story aired, he got a call from a Chase representative saying she had seen his name in association with the bank. MACK-WESTROM: And she [...]

A former Bakersfield real estate agent and her father face 15 felony counts each of money laundering, conspiracy and grand theft in connection with an alleged multi-million dollar mortgage fraud scheme, newly filed court charges show. Guadalupe Ramirez, 31, and [...]

Three metro Atlantans have been indicted for allegedly running a reverse mortgage fraud ring. Jonathan Alfred Kimpson, 27, of Lithonia and Gia Harris, 26, of Atlanta were indicted by a federal grand jury on charges of conspiracy to commit

Trying to pave its re-entry from bankruptcy, Lauth Investment Properties has proposed loan modifications with lenders on a third of its real estate holdings. One problem: Lauth’s main equity partner rejects the deals, calling them “smoke and mirrors” that benefit [...]

San Diegans who have lost their homes through foreclosure or short-sales thought they had emerged from the dark times and could start rebuilding their lives. Then the state tax man came calling.

Tracy Jackson wasn’t sure when she arrived at a foreclosure-prevention workshop Saturday morning whether she would be able to hold on to the West Baltimore rowhouse she’s owned for past five years. Two hours later, she was breathing a sigh [...]

The Neighborhood Assistance Corporation of America’s 5-day loan modification event at the Palm Beach County Civic Center attracted 24,331 households and was able to give same-day solutions to 7,547. The marathon, which ran 24-hours-a-day beginning Feb. 25, was the 13th [...]

CINCINNATI — A backlog of unprocessed deeds has frustrated buyers of foreclosed homes, and realtors stormed the Hamilton County commission meeting Wednesday to demand answers. Jackie Sheridan hopes to buy a 4,000-square-foot home in Terrace Park, but it has stood [...]

A bad economy has served up hard times for Alice Rivera. She lost her job three months ago. She lost her home this week. “They’re just, ‘we’re taking your house away and that’s it,’” said Rivera.   Rivera tried to [...]

Department of Banking and Finance’s Order to Cease and Desist Issued to Nathan Livingston d/b/a Loan Help Solutions d/b/a www.loanhelpsolutions.net d/b/a Mortgage Help Solutions Becomes Final Atlanta, Georgia – On February 26, 2010, an Order to Cease and Desist issued [...]

A 41-year-old Brooklyn Center mortgage broker was sentenced on Tuesday to two years in prison for defrauding clients of more than $800,000. Terry L. Lemke, owner of All Metro Title, was sentenced in federal court in St. Paul after pleading [...]

Lawyers from the Lake County Bar Association will be offering free help to people who are on the brink of foreclosure on Saturday, March 6, in Grayslake. The lawyers, who are specially trained and volunteering their assistance, will be at [...]