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- Strategic Default and Credit Cards in CaliforniaForum: Stop Foreclosure and Tell Us Your Story Posted By: WalnutCreek Homeowner Post Time: 01-27-2012 at 10:15 AM […]
- Chase HAMP Trial Mod Communication QuestionForum: Chase Mortgage - Tell Us Your Chase Story Posted By: Sunnyfish Post Time: 01-27-2012 at 09:38 AM […]
- Can you get a loan mod if you have 200,000 in equity ?Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: Saritas Post Time: 01-27-2012 at 08:50 AM […]
- BOA Has put my loan into foreclosure - ConnecticutForum: Stop Foreclosure and Tell Us Your Story Posted By: Housebroken13 Post Time: 01-27-2012 at 08:41 AM […]
- Questions about settling 2ndForum: Debt Settlement Posted By: johnmrob Post Time: 01-27-2012 at 01:09 AM […]
- Walking in NorCal, have a few ?'sForum: Wells Fargo Home Mortgage Posted By: thisishard Post Time: 01-26-2012 at 09:32 PM […]
- getting on the wheelForum: Wells Fargo Home Mortgage Posted By: msdjsd Post Time: 01-26-2012 at 08:31 PM […]
- GreenTree 1st and 2nd do I have a chance to settle 2ndForum: Stop Foreclosure and Tell Us Your Story Posted By: busterbully Post Time: 01-26-2012 at 08:20 PM […]
- Can they change my 2nd mortgage into a Personal Loan and garnish my wages for it?Forum: Stop Foreclosure and Tell Us Your Story Posted By: I'm So Tired Portland Ore Post Time: 01-26-2012 at 06:11 PM […]
- Short sale success!!! My perceived keys to success!!!Forum: Short Sale Outpost Posted By: jdubbs Post Time: 01-26-2012 at 03:55 PM […]
January 2011
Portland brokers saw mortgage meltdown loom; federal report hints it could happen again
(Source: By Jeff Manning, The Oregonian, Portland, Ore.) – In February 2004, future Federal Reserve Chairman Ben Bernanke penned a paper titled “The Great Moderation,” a celebration of a sunny new era of economic stability. Deregulation and “increased depth and [...]
Credit card companies must now disclose info behind rate decisions
(Source: By Tim Grant, Pittsburgh Post-Gazette) – Some borrowers are more creditworthy than others — which has been the standard explanation as to why lenders offer the lowest rates to customers with the best history of repaying loans while riskier [...]
Housing bust’s ripple effect
(Source: By Robert Digitale, The Press Democrat, Santa Rosa, Calif.) – Only five years ago, when the housing market was a powerful engine driving economic growth, eager buyers snapped up more than $4 billion worth of homes and condominiums in [...]
Will That Be Cash, Credit or Cellphone?
(Source: News Sentinel) – Not long ago, paying for something by phone meant calling a retailer or catalog merchant to place an order with a credit card. Today, your smartphone is a shopping mall and wallet in one. But for [...]
Homeless funding continues
Image via Wikipedia (Source: By Yolanda Putman, Chattanooga Times Free Press, Tenn.) – After living in Chattanooga-area homeless shelters for nearly six months, Jeff Hardy was able to get an apartment and enroll in school thanks to a program that [...]
Rates on new-car loans at historic low
(Source: By Dan Gearino, The Columbus Dispatch, Ohio) –First, a math lesson: It is impossible to get an auto loan for less than 0 percent interest. If it were possible, though, it would happen about now, when interest rates are [...]
Probe not blaming U.S. lending law for financial crisis
Image by Getty Images via @daylife (Source: The Charlotte Observer (Charlotte, N.C.) –The Financial Crisis Inquiry Commission cast a wide net of blame for the financial meltdown but moved to exonerate at least one target: a federal law requiring banks [...]
Fannie, Freddie, rejected $21B in loans
Image by Getty Images via @daylife (Source: United Press International) – Mortgage brokers in Washington forced U.S. banks to repurchase $20.9 billion in substandard loans during the financial crisis, a government report said. From 2007 through August 2010, the Federal [...]
MERV THE SWERV ; Balls raps bank boss King for being loyal as Cameron wrecks economy
Image via Wikipedia Source: Daily Record; Glasgow (UK) –THE governor of the Bank of England is secretly opposed to the Con-Dems‘ economic plans, shadow chancellor Ed Balls claimed yesterday. He said Mervyn King “in his heart of hearts” believed the [...]
How banks are enjoying homestead exemption
(Source: JacksonVille.com) – Banks, mortgage companies and investors that seize Florida homes in foreclosures also get millions in tax breaks because state law allows them to enjoy the homestead exemption intended for owner-occupied homes. Last year in Duval County alone, [...]
Former Apprentice star escapes jail after mortgage frauds
(Source: The Introducer Today) – Former ‘Apprentice’ contestant and mortgage broker Christopher Farrell has escaped jail after pleading guilty to four charges of mortgage fraud. Farrell, 29, received a nine-month prison sentence, suspended for two years, for doctoring applications in [...]
Economy causes many to seek help
(Source: By April Evans, Commercial-News, Danville, Ill.) – DANVILLE — The testy economy has played havoc in the lives and budgets for many in the area and some have sought help during their rough financial times. Kathy Leary, a certified [...]
Foreclosure losses picked up by taxpayers, investors
(Source: AZ Central) – In a historic wave of foreclosures, countless thousands of Americans have given up their homes, unable – or unwilling – to pay the mortgage. Plunging values left their homes worth far less than the amount of [...]
Even churches are going bankrupt these days
Image via Wikipedia (Source: By Jeff Kunerth, The Orlando Sentinel, Fla.) – In a Sunday sermon, pastor Larry Perkins stood in his church’s family-life center and preached to the children in his congregation: Believe in yourself and your future. Never [...]
Roofing execs accused of theft
(Source: By Liz Fabian, The Macon Telegraph, Ga.) – Authorities are expected to round up three Atlanta-area roofing executives this weekend to face theft charges in Bibb County. The Bibb County Sheriff’s Office secured arrest warrants Thursday night for the [...]
How troubles affect tenants, downtown
(Source: By Monica Chen, The Herald-Sun, Durham, N.C.) DURHAM — The prognosis is not good for the owners of West Village to keep their properties, real estate experts said this week, but their legal troubles may not directly affect their [...]
Loan modification program amplifies frustrations
(Source: Herald Tribune) – “They are totally and intentionally dysfunctional,” said Melody Shimmell, a Sarasota banker trying to help her son get a loan modification from Bank of America. “The reason they get away with this is they are dealing [...]
In case the numbers are making you numb
(Source: By Toni Momberger, San Bernardino County Sun, Calif.) – Everyone seems to be watching the market right now — some to buy, some to sell, some who already bought or sold, and some just to keep tabs on how [...]
Countrywide CEO: Housing caused ‘gold rush’ mentality
Image by Getty Images via @daylife (Source: The Charlotte Observer (Charlotte, N.C.) –Former Bank of America chief executive Ken Lewis played hardball when the Treasury secretary called. Former Countrywide CEO Angelo Mozilo lamented the “gold rush” mentality that influenced people [...]
Bernanke needs to focus on troubled housing market
(Source: Irish Times By CHARLIE FELL) – SERIOUS MONEY : BEN BERNANKE, the chairman of the Federal Reserve, recently engaged in a bout of self-delusion, as he patted himself and his colleagues on the back for the success of their [...]
Finding Blame
(Source: USA TODAY By Adam Shell, Paul Davidson and John Waggoner) – A congressionally appointed panel reported Thursday that the financial crisis that set off the Great Recession was avoidable, casting a wide net of blame over regulators and financial [...]
E-mails Suggest Bear Stearns Cheated Clients Out of Billions
Image via Wikipedia Bear traders telling their superiors they were selling investors like Ambac a “sack of shit” (Source: The Atlantic) – Former Bear Stearns mortgage executives who now run mortgage divisions of Goldman Sachs, Bank of America, and Ally [...]
Bay State bankruptcies soared last year
(Source: By Boston Herald) – Unemployment and a sluggish economy caused personal bankruptcies in the Bay State to soar by nearly 9 percent in 2010, according to a new report from The Warren Group, publisher of Banker & Tradesman. There [...]
A Frightening Satellite Tour Of America’s Foreclosure Wastelands
(Source: Business Insider) – 72 percent of major metro areas saw an increase in foreclosure volume. Although some of the worst hit areas in Nevada, California and Florida improved from 2009, the foreclosure rate in these areas remains shockingly high. [...]
Nevada grant will give struggling homeowners free legal advice
(Source: KTNV) Las Vegas, NV– Help for struggling homeowners is on the way. The Nevada Supreme Court awarded the state nearly $300,000 for additional assistance, helping to provide free legal advice through the foreclosure mediation program. This aid comes at [...]
Credit Card Regulation Needed to Protect Consumers
(Source: Record, The; Bergen County, N.J.) – Want to know why there was a need for the CARD Act that Congress passed in 2009 to regulate the credit card industry? Consider Monday’s ruling by the U.S. Supreme Court. In a [...]
Panel: Negligence, risk-taking fueled economy’s collapse
Image by Getty Images via @daylife (Source: McClatchy Washington Bureau) WASHINGTON _ Wall Street’s plunge into the U.S. housing market reached such a level of madness that three giant banks kept buying billions of dollars in risky mortgage securities when [...]
HSBC launches two new fixed rate mortgages
(Source: Datamonitor) – HSBC has launched new deals which include a five-year fixed rate at 4.29% with GBP99 fee and a seven-year fixed rate at 4.69% with GBP999 fee. The loans, part of HSBC’s sale which ends on February 6, [...]
Bad Loans at Chinese Commercial Banks Fall in 2010
Source: Info-Prod Research (Middle East) –According to FDI: China’s banking watchdog said Wednesday Chinese domestic commercial banks’ balance of non-performing loans (NPL) decreased 14 percent through 2010 to stand at 429.3 billion yuan (65.17 billion U.S. dollars) at year-end. At [...]
Bill Gross sees dangers in the debt-limit debate
Image by celero via Flickr (Source: Associated Press/AP Online) –The world’s largest bond investor says the fight over raising the country’s borrowing limit threatens to throw the debt market into a tailspin. “It’s the wrong way to do it,” says [...]
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