August 2010

Two Cocke County women called 6 On Your Side recently about a loan modification company they say isn’t honoring its contract. Modifying a loan can be tricky, and loan modification companies have sprung up everywhere.

Image via Wikipedia The house on the 53rd block of South Wood Street in Chicago’s Back of the Yards doesn’t look like a $355,000 home. There is no front door and most of the windows are boarded up. Public records [...]

Arizona man admits guilt in loan scams; he’ll get 9 years max John J. Wanek pleaded guilty yesterday to eight of the 33 charges he was indicted on in what may be Franklin County’s largest-ever case of mortgage fraud.

Imagine this: To apply for a job, you’re asked to submit your application and resume six separate times because the employer can’t manage to hold onto each previous submission. Or the company somehow claims it never showed up in the [...]

Beth Shores is in for the fight of her life. She is battling cancer and desperately trying to hold on to her sense of humor. “I can’t say that I’m really, totally upset about the lack of hair because it’s [...]

Loan modification scams What are they? Scams that claim they can save your home. With nearly one-quarter of homeowners underwater on their mortgages, the possibilities of foreclosure loom extremely large. No wonder the scammers are out. According to the FTC [...]

Foreclosure mediation can be beneficial for troubled borrowers, provided they go into it with realistic expectations, says Jerron Kelley, a foreclosure defense lawyer in Delray Beach. As of July 1, lenders and borrowers have to go through mediation before the [...]

By Propublica – For Suzanna Wertheim, the problems came like a flash flood. First, she lost her job as a hospice nurse on the same day she learned she had terminal cancer. Then she was scammed by a company that [...]

I need someone to tell us if we have a chance of getting the loan or the rate reduced. I don’t understand why they would not at least help us with the rate. Someone told me to go ahead and [...]

RealtyTrac, a firm that follows foreclosure filings, reports that foreclosure activity was up in July. But that’s still an improvement over last year’s numbers, highlighting the two-faced nature of this report. The July foreclosure report is like a fun house [...]

So where does the conflict of interest lie? Often, the same bank that services a primary mortgage owned by another institution also owns a second mortgage or home equity line of credit on the same property. When that borrower has [...]

Mike Carr’s voice rattled like a machine gun. “Anybodywannabidmorethansixtythree-thousandfivehundreddollars?” Auction bid cards went up. “And: Sold! For $63,500.”

As foreclosure fights rage in the nation’s courts, the battle over Shahida and Ather Ali’s house in Diamond Bar, Calif., looks like a classic mismatch. In one corner, weighing in at $2.5 trillion in assets, sits Deutsche Bank, which is [...]

RE/MAX Partners, headquartered in Fort Lauderdale, is ceasing operations and closing its offices after nearly two decades in business, owner Ray Glynn said in a letter to agents Tuesday.

It’s the real key to the housing recovery. If we know exactly how much shadow inventory of foreclosed properties will come to market, and we know the general demand, then we can get an idea of how much pain there [...]

ewer options, less leverage to get mortgage payments lowered without HAMP program Millions of homeowners have tried to get help paying their mortgages, especially through the federal government’s Making Home Affordable Program. However not all lenders participate.

Claudia and Mark’s Torres dream went down the drain last week. Unbeknownst to them their house was sold while they were trying to get a loan modification, for the fifth time with GMAC. They found out their house had been [...]

“I tried to keep up with the changes to the best of my ability,” Pichadze said. Pichadze, 47, is now part of the growing group of Americans trying – but failing – to stave off foreclosure through the federal Home [...]

THE Obama administration is set to discuss the future of Fannie Mae and Freddie Mac, the mortgage giants that largely escaped reform in the financial overhaul of the Dodd-Frank law, at the Treasury Department on Tuesday. It’s about time: the [...]

WINK News fixes another case of bad bank communication.  Cape Coral homeowners spent a year trying to avoid a foreclosure.  Finally, they closed on a short sale; but their problems didn’t end there.  A few months after the bank got [...]

The Idaho Department of Finance issued a cease and desist order against California-based Relief Law Center based on alleged unlawful mortgage modification solicitations to Idaho homeowners. “These solicitations are among the most deceptive we have seen,” Finance Department Director Gavin [...]