April 2010

Refusing to give up McCray-Hodges filled more than 10 binders with copies of her letters, the responses and newspaper reports about help for borrowers. She wrote to state Assemblyman Bill Monning and state Assemblywoman Anna Caballero. She wrote to Gov. [...]

Why aren’t more loans being successfully modified? Many believe that the problem lies in the second loan market. Banks’ balance sheets are filled with these loans and have yet to realize the losses on them.

April 8 (Bloomberg) — Eamon Javers, financial correspondent at Politico.com, talks with Bloombergs Mark Crumpton and Lori Rothman about the influence of former U.S. Treasury Secretary Robert Rubin on the Obama administration. Rubin, who headed Citigroup Inc.’s executive committee in [...]

Independent financial advisor Joe Krier of Krier Wealth Management discusses the Financial Crisis Commission’s mortgage meltdown investigation and shares observations on causes, accountability, and lessons in this WJXT Channel 4 interview broadcast on April 08, 2010

CAMDEN – Three New York residents pleaded guilty Thursday to their roles in a conspiracy to commit a million-dollar mortgage fraud involving residential properties in Atlantic City,  U.S. Attorney Paul J. Fishman announced. Tula Rampersaud, 31, her husband, Sudesh, 31, [...]

MUSKOGEE, Okla. (AP) — A Tulsa firefighter has pleaded guilty to one count of conspiracy to commit wire fraud and five counts of wire fraud. Federal prosecutors said Thursday Broken Arrow resident Gerald Wayne Snow Jr., his father, Gerald Wayne [...]

It is IRS policy to tax forgiven debt you are personally responsible for as if it is income. Say, for example, your credit card company settled a $10,000 debt for 50 cents on the dollar. You’d have a debt forgiveness [...]

What the hell do some of these starts do with all their money? It appears that we may have a new trend of the rich and famous strategically defaulting on their mortgages. This is one class of people that I [...]

A former Walpole attorney was sentenced yesterday to two years in the Billerica House of Correction for ripping off homeowners and mortgage lenders. Bruce Namenson, 47, pled guilty in Suffolk Superior Court for his role in a complex scheme to [...]

A Raleigh man was arrested Wednesday after authorities said he lied when applying for a home mortgage, Wake County court documents show. Antonious M. Iskander, 26, of 3216 Blue Ridge Road, was charged with two counts of obtaining property under [...]

“Saved by the Bell” actor Dustin Diamond may have to do another XXX flick, because he’s about to lose his home. Wells Fargo Bank just filed legal papers, claiming Screech is more than $290,000 behind on his mortgage. The bank [...]

The complex investigation began in November 2008, when Gloucestershire County Council funded PC Duncan Sleeman, acting on intelligence, led a raid on a property in Central Lydbrook. Although the discovery of a large number of cannabis plants led to the [...]

LAS VEGAS, NV (LoanSafe.org) – The Obama Administration’s Making Home Affordable Program, HOPE NOW Alliance and NeighborWorks® America will be holding a 2 day foreclosure prevention workshop in Las Vegas, Nevada starting today, Thursday April 8th and lasting through Friday April 9th. [...]

Former Federal Reserve Chairman Alan Greenspan on Wednesday defended the central bank’s much-criticized oversight of the subprime mortgage market, arguing that consumer protection was an important priority and that it did not make sense to outlaw all such loans.

NEW YORK — Goldman Sachs, the investment bank that has emerged as a Wall Street leader and the target of public ire in the aftermath of the financial crisis, said Wednesday it did not unfairly bet against clients in the [...]

DELTONA — A Volusia County man has been arrested for allegedly filing phony court papers, claiming ownership of several foreclosed homes. Investigators said Andrew Brown, 29, took down the “for sale” signs at a home on Shadow Ridge Drive, changed [...]

Now they’re on the verge of being thrown out. To the Rudans’ dismay, the house was sold last month at a foreclosure sale. The sale occurred despite what the Rudans say were their loan servicer’s promises not to sell it. [...]

New federal rules could make it easier for financially troubled homeowners to dispose of their properties through short sales, where the home is sold for less than the amount of the mortgage. But questions Tuesday at the weekly meeting of [...]

A federal jury convicted Eric R. Farrington Jr. and seven others Monday of operating a multimillion-dollar mortgage fraud scheme in the Dallas area from 2002 to early 2006. Farrington, a 57-year-old Irving resident who had a late-night TV infomercial on [...]