September 2010

President Obama’s mortgage modification program has reached out to distressed homeowners, but it’s left many of them with nothing but broken promises.

The Office of Chief Trial Counsel of the State Bar of California recently announced the disbarment of four California attorneys as a result of investigations conducted by its Loan Modification Task Force. Since its inception in April 2009, the task [...]

There was a time, not long ago, when having a home of your own signaled stability. It was a stake in a community, a place for individuals to come into their own or for families to grow. It was a [...]

The bottom-feeders are back, but a bill on Gov. Paterson‘s desk could protect distressed Bronx homeowners from fraud. Two years after the subprime mortgage crisis imploded, unscrupulous loan modification consultants are still scamming homeowners like Angeleta Beckford.

A loan auditor who impersonated a Mill Valley lawyer in a foreclosure scam was sentenced to a year in jail Tuesday. Nicolas Moscouplos, 54, of Sacramento was also ordered to pay restitution to the victims, said Deputy District Attorney Leon [...]

The CEO of Freddie Mac, which owns a quarter of the nation’s mortgages, is using his bully pulpit to encourage banks to help out hurting homeowners. In an interview with HousingWire, a mortgage industry site, Charles Haldeman said the mortgage [...]

Luis Fernandez’s foreclosure documents never looked quite right. Critical papers regarding his Orlando home were missing dates, and some signatures appeared to him to be forged. The mortgage had been sold so often – including once in the middle of [...]

WASHINGTON (TheStreet) — President Obama signed a bill on Monday to provide $42 billion in loan incentives and tax cuts for small-businesses, after months of wrangling with Republican lawmakers.

Recently, here in the hallways of BLACK ENTERPRISE, a few of us editors wondered if there’s any advice we should be offering to homeowners who are currently underwater on their mortgages. Over the last two years, we’ve given guidance to [...]

Millions of middle-income home- owners are struggling to pay down bloated, underwater mortgages while wealthier Americans are simply mailing in the keys to the mansion and calling it a day. According to last week’s Pew survey, only 25 percent of [...]

Ocwen Financial Corp. said it lost a $12.7 million jury verdict tied to its former bank subsidiary. Cartel Asset Management brought the case against the West Palm Beach-based mortgage servicing company (NYSE: OCN) and Ocwen Loan Services, the successor to [...]

A government report Friday said the number of seriously delinquent mortgages fell in the second quarter for the first time in more than a year, reflecting a surge in completed foreclosures as well as lower monthly payments as homeowners negotiated [...]

Tara Sciartelli  says she had been up-to-date on her mortgage payments in January 2009 when she paid a company $1,700 to help renegotiate terms with her mortgage companies. The fixed-rate first and second mortgages with combined payments of $986 were [...]