September 2010

Are the homeowners profiled in the article “Loan modification snags spark suits” seriously expecting average Americans to support their lawsuit? The cover story refers to a couple in Lake Stevens, Wash., suing Bank of America because their $4,000 monthly mortgage [...]

The California Department of Real Estate says it has noticed an alarming escalation of short sale fraud and will step up education and enforcement efforts to combat it.

Today’s Journal takes a look at Howard “Howie” Hubler, the former mortgage trader who was blamed for a big Wall Street loss three years ago. Now, he’s launched a start-up that is making a new bet on housing.

PROVIDENCE, R.I. (WPRI) – Could you deal without your car? If you’re having trouble making payments on your car loan, beware if a company comes calling, offering to modify your car loan — many of these companies are simply not [...]

Foreclosures are once again on the minds of many. After a summer of record lows in home sales and widespread pessimism in the economy, many market-watchers say the next leg down in home prices may come from pressure brought by [...]

RICHMOND, Va. – The fight against loan modification scammers continues in Virginia, and now homeowners have a new weapon. It’s called the Loan Modification Scam Prevention Network, and it’s part of a national effort partnering with state and local governments [...]

A loophole in state and federal laws has made it easy for some attorneys to take advantage of Illinois residents struggling to keep their homes.

Morgan Hill police and the Santa Clara County District Attorney’s  Office are advising residents to be aware of scam artists posing as  foreclosure rescuers. Police believe some homeowners may have fallen victim to a  foreclosure “rescue and lease back” scam [...]

But for the last two years, Mr. Bove has been engaged in a lonely legal battle to retain his ability to say whatever he likes, an ordeal that he says has been anything but fun. BankAtlantic, a Florida bank, sued [...]

Deneen Clarke was appalled to learn that her ex-neighbor was stripping a three-story Victorian in Minneapolis of leaded windows, doors and more. Stripping properties is one more form of fallout in the foreclosure epidemic.

Donna Puckett worked at a veterinarian’s office until a year ago. She lost her job, but her husband continued to tow the line best he could. The Pucketts saw trouble ahead and contacted their mortgage company.

STRUGGLING homeowners have found some refuge in short sales, in which lenders allow borrowers to escape foreclosure by selling a home for less than what is owed on the mortgage. Government programs offering incentives to both parties will push the [...]

Last week, the federal government earmarked $19 million to help stabilize neighborhoods hit hard by foreclosures in Stanislaus, San Joaquin and Merced counties. Rep. Dennis Cardoza, D-Merced, proved instrumental in getting additional funding through the Neighborhood Stabilization Program element of [...]

Federal agents believe the mayor of the Utah County town of Cedar Hills was deeply entwined in what they describe as a criminal ring that carried out various frauds involving mortgages, car loans and investments.

Yesterday, It’s Only Money got a call from a reader seeking help. She had entered a home mortgage modification program with a major bank months ago and were still waiting their trial modification period.

A resurgence in foreclosure prevention scams has prompted one nonprofit to fight back. The Minnesota Home Ownership Center has launched a new public education campaign called “Look Before You Leap.”

Anthony and April Soper’s financial troubles were only starting last October when they applied for a mortgage adjustment through the Obama administration’s Home Affordable Modification Program.

Lenders lose an estimated $310 million annually in undervalued short-sale transactions, according to a study released in August. But homeowners lose millions too, especially when unscrupulous loan brokers, real estate agents and lawyers are involved.

Millions of additional federal dollars are heading to Wisconsin to help stop foreclosure damage to neighborhoods.

HOUSTON – For months, Houston-area homeowners on the verge of foreclosure flocked to a southwest side office building. “I was several months behind,” said Jose Valladares. “I believe three or four months behind.”

I’ve done dozens of stories about loan modification scams. They prey on people who have gotten behind on their mortgages, who are in danger of losing their home… or have already received the dreaded foreclosure notice.  The scam companies are [...]