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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 […]
February 2011
Mortgage relief fees limited
(Source: Tulsa World By PHIL MULKINS) – Dear Action Line: Is it still possible for these mortgage foreclosure relief outfits to charge for services before they are rendered? – D.M., Tulsa No. The “advance fee ban,” under the Federal Trade [...]
The curse of negative home equity
(Source: By Toluse Olorunnipa, The Miami Herald) – Wesley Ulloa bought her first condo for $230,000 in 2007, and watched helplessly as it lost two-thirds of its value during South Florida’s historic housing market tailspin. The 24-year-old real estate agent [...]
6 of the biggest mortgage lenders say N.J. high court overstepped its boundaries
NEWARK (Source: NJ.com) — State Supreme Court Chief Justice Stuart Rabner made a splash in December when he ordered six of the nation’s biggest mortgage lenders into court to show why their foreclosure operations shouldn’t be suspended over reports of [...]
Homeowners burdened by bureaucracy when trying to get out
(Source: By Bert Caldwell, The Spokesman-Review, Spokane, Wash.) – Jason and Lanae Lindh and their seven children live in a rented home outside Reno, Nev., where they moved in December. They still own a hillside rancher in the Ponderosa area [...]
China to Improve Regulation of Total Social Financing: Central Bank
Source: Info-Prod Research (Middle East) –According to FDI: China is looking to establish an effective regulatory system for total social financing, an official with the country’s central bank said Thursday. The new bank lending volume does not completely reflect the [...]
US drops criminal probe of former Countrywide chief Angelo Mozilo
Mozilo’s actions in the mortgage meltdown — which led to $67.5-million settlement against him — did not amount to criminal wrongdoing, federal prosecutors have determined. (By E. Scott Reckard, Los Angeles Times) – Federal prosecutors have shelved a criminal investigation [...]
Standards for loans may rise
(Source: By Rebecca U. Cho, San Bernardino County Sun, Calif.) – A wind-down of government-controlled Fannie Mae and Freddie Mac, as proposed by the Obama administration this month, would make home buying more difficult and add pressure to the still [...]
Foreclosure mediators: Banks pushed us to fail
(Source: Palm Beach Post) – Florida’s Supreme Court sought a foreclosure lifeline in forcing banks and borrowers to mediation. It was hoped a judicial referee could help unclog court dockets and free struggling borrowers. But in documents obtained by The [...]
Commercial real estate values plunge for first time in 20 years, new reappraisal says
(Source: By Rich Laden, The Gazette, Colorado Springs, Colo.) – For the first time in two decades, commercial real estate values have plunged in Colorado Springs — and they’ll probably continue to drop, said El Paso County Assessor Mark Lowderman. [...]
Buying and selling real estate: the devilish details
(Source: News Sentinel) – When examining the negotiable items in a real estate purchase contract, some consideration should be given to the role of third- party services and who is responsible for these charges. The complex process of buying a [...]
Bond Scandal Tally Keeps Rising
(Source: Arkansas Business) –BETWEEN 2002 AND LAST SEPTEMBER, Little Rock attorney Kevin Lewis borrowed more than $26 million from various Arkansas banks, most of it by pledging rural improvement district bonds that turned out to be phony. Since Dec. 1, [...]
Real estate bust, bank failure ruin buyer’s dream
(Source: Morning Star) –It was to be his retirement home, a place where Gary Jack could roll his chair down to the water and cast out a line. If he caught a fish, great. If not, oh well. Look at [...]
Re-Modification of Mortgages and Mortgage Servicers’ Co-Loss Mitigation Programs
(By Michael Nazarinia of REST Report Matters) – Are you trying to get a previously modified loan re-modified after accepting an otherwise poor offer that was unaffordable but you felt as if you had no other choice? Do you have [...]
In wake of suit, Chase lowers interest to 4%
(Source: Army Times) – JPMorgan Chase will reduce interest rates to 4 percent for service members whose loans qualify under the Servicemembers’ Civil Relief Act, going even further than the 6 percent cap called for under that law, officials announced. [...]
TARP Watchdog Says Foreclosure Plan Is Failing
(Source: NPR) – Foreclosures in the U.S. matched their highest level on record at the end of 2010, according to the Mortgage Bankers Association. And that’s frustrating to one of the nation’s top financial watchdogs. Neil Barofsky, the special inspector [...]
More foreclosure help for homeowners
(Source: By Roddie Burris, The State, Columbia, S.C.) – More homeowners at risk of foreclosure will qualify for help under an expanded assistance program. State housing officials Thursday announced adjustments to the six-week-old foreclosure prevention program during a statewide affordable [...]
Loan Mod Program Left Homeowner’s Fate in Hands of Dysfunctional Industry
(Source: By Paul Kiel of Probublica) – Last February, with 6 million homeowners in danger of losing their homes, the mortgage industry was assembled at a luxury hotel in San Diego applauding themselves—literally. “As a group, we owe ourselves a [...]
Feds search Trooien’s office in fraud probe
(Source: By Jennifer Bjorhus, Star Tribune, Minneapolis) – Federal agents Thursday searched the St. Paul office of embattled developer Jerry Trooien looking for evidence of a fraud scheme. FBI special agent and spokesman Steve Warfield in Minneapolis confirmed the search, [...]
Southern California couple under arrest for squatting in upscale home
UPLAND – A couple living in a five-bedroom home on North Euclid Avenue were arrested Tuesday after investigators suspected an illegal case of squatting on the upscale property. Richard and Pamela Scott were arrested by Upland police on suspicion of [...]
JPMorgan grants CEO Dimon big stock bonus
(Source: Associated Press/AP Online) – NEW YORK – JPMorgan Chase & Co. has granted Chairman and CEO Jamie Dimon stock and options worth $17 million, just a month after one of Wall Street’s largest banks posted a big jump in [...]
Why Isn’t Wall Street in Jail?
Financial crooks brought down the world’s economy — but the feds are doing more to protect them than to prosecute them Illustration by Victor Juhasz (Source: Rolling Stone) – Over drinks at a bar on a dreary, snowy night in [...]
CoreLogic Blasts NAR for Overstating Home Sales
(Source: UPI) – The “most popular measure” of existing home sales, the National Association of Realtors’ Existing Home Sales, has increasingly overstated home sales for ten years as measured by five other sources, and reached a level in 2010 that [...]
Fed moving forward with Dodd-Frank Act
(Source: United Press International) –U.S. Federal Reserve Chairman Ben Bernanke said Thursday the central bank is taking steps to put the Dodd-Frank Act into action. In testimony prepared for the Senate Committee on Banking, Housing and Urban Affairs, Bernanke said [...]
Ivory Coast banks on brink of collapse
(Source: Irish Times) –Ivory Coast‘s incumbent Laurent Gbagbo decreed yesterday that major banks suspending business in Ivory Coast are to be nationalised, the latest turn in a bitter struggle for political control of the West African state. The banking system [...]
Big Banks Face Fines on Role of Servicers
(Source: Wall Street Journal) – A review of mortgage-servicing practices by U.S. regulators found serious problems with internal controls and staffing levels at the companies, which are likely to result in formal enforcement action against more than a dozen major [...]
Average rate on 30-year mortgage dips to 5 percent
(Source: Associated Press/AP Online By JANNA HERRON) NEW YORK – Fixed mortgage rates inched down this week, following a dip in Treasury yields. The average rate on a 30-year fixed mortgage slipped to 5 percent from 5.05 percent last week, [...]
Buyers, sellers struggle to reconcile perception of home values
(Source: The Philadelphia Inquirer) – Whether any given house for sale is properly priced for the market depends on which side of the trench you are standing. Sam Millinghausen of Ambler, Pa., a lawyer who has been looking to buy [...]
Philadelphia Man Moves to Foreclose on Wells Fargo Over Mortgage
(Source: ABC News) – When a Philadelphia man became fed up with his bank for failing to respond to his mortgage questions, he took them to court and won. In a twist that will warm the hearts of millions with [...]
Homeowners near former bombing range settle suit for $1.2 million
(Source: By Eloisa Ruano Gonzalez, The Orlando Sentinel, Fla. ) – The first class-action lawsuit against a home builder in the area of a former World War II-era bombing range in southeast Orlando has been settled for $1.2 million. Homeowners [...]
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