January 2011

(SOURCE: WASHINGTON POST) – I’ve talked to a credit counseling service and have found out that I have too much debt to use their service, make too much money to obtain a loan modification under the Obama plan and make [...]

BOSTON (Legal Newsline) – The Massachusetts Supreme Court, in a ruling last week, agreed with a lower court judge that U.S. Bank and Wells Fargo did not demonstrate they were the holders of two mortgages when they foreclosed on the [...]

(Source: Washington Post) – In their fight with banks over mortgage losses, investors get on borrowers’ side The fight between big banks and investors who lost a fortune on mortgage-backed securities is shifting from private litigation to the public arena.

(Source: By Alan J. Heavens, The Philadelphia Inquirer) – Home builders are gathered for their annual convention in Orlando, Fla., in what may well be the worst of times for the housing market. Credit remains tight, home values are still [...]

(Source: The Philadelphia Inquirer) – Michael Lenny of Cherry Hill, N.J., has 49 years in the real estate industry, more than 30 of them as an appraiser. Five years ago, he stopped doing appraisals for lenders. The income he made [...]

PMorgan Chase customer finds himself in loan mod hell for following bank’s suggestion ( Source: LA Weekly) – Did you hear the one about the bank that refused to help the financially struggling homeowner unless he was delinquent in his [...]

(Source: Clark Law) – Bingham Farms, Michigan Feeling the crunch with your mortgage and the state of Michigan’s economy? Well, apparently you aren’t the only one. The topic of underwater mortgages has this state in a panic but don’t give [...]

(Source: By Julie R. Johnson, Corning Observer, Calif.) – It was a dismal 2010 for real estate across the country, and many are wondering what is in store for home sales this year. “I don’t believe it has reached the [...]

(Source: By Pete Carey, San Jose Mercury News, Calif.) – Jan. 12–A state plan to help homeowners facing the threat of foreclosure kicked off this week, with the California Housing Finance Agency taking applications on a toll-free phone line. Designed [...]

(Source: Hampton Roads) NORFOLK – Ultramarathon runner Charlie Engle ran his last foot race Sunday for at least 21 months. U.S. District Judge Jerome B. Friedman on Monday sentenced Engle to 21 months in federal prison after a jury in [...]

NEW YORK FBI – PREET BHARARA, the United States Attorney for the Southern District of New York, announced that CHEDDI GOBERDHAN, a real estate attorney, pled guilty yesterday before U.S. District Judge SHIRA A. SCHEINDLIN in Manhattan federal court to [...]

(Source: By Duane Marsteller, The Bradenton Herald, Fla.) MANATEE — A new Connecticut company is crisscrossing Florida this week in hopes of getting stronger mortgage relief for homeowners with corrosive drywall — and make some money in the process. Chinese [...]

LAS VEGAS—Nevada’s foreclosure mediation program largely worked in its first full year, keeping nearly half its participants in their home and avoiding foreclosure in nearly nine in 10 cases, a former state lawmaker said Tuesday.

(Source: Queens Gazette) – A mortgage assistance program for struggling California homeowners has gotten under way, two months after it was supposed to launch. The Keep Your Home California program, funded with almost $2 billion from the federal government, started [...]

(Source: Queens Gazette) BY RICHARD GENTILVISO – Mortgage fraud is a growing crime that is hurting homeowners, businesses and the national economy, according to the Federal Bureau of Investigation (FBI). The feds say the latest scam on the block is [...]

(Source:  Komo News) – A major mortgage servicing company is slapped with a class action lawsuit over its loan modification program. The federal suit, filed on behalf of a Yakima homeowner, accuses Texas-based EMC Mortgage Corporation of deceptive practices, illegal [...]

(Source: By Christine Stapleton, The Palm Beach Post, Fla.) – The highest court in Massachusetts ruled against two of the nation’s largest lenders on Friday in a widely watched case that could have serious implications for banks that foreclose on [...]