(Source: The Pittsburgh Tribune-Review By Brian Bowling) – A Murrysville group can now pocket some of Charlie Batch’s personal property, including two Super Bowl rings, to recover the money the Steelers backup quarterback owes the company, according to federal bankruptcy [...]
(Source: Business Insider) – Last October, when everyone was jubilant about the housing “recovery,” Gary Shilling of A. Gary Shilling & Co., predicted that house prices would fall another 20%. In the five months since, house prices have resumed their [...]
(Source: The Atlanta Journal and Constitution) March 23–When customers buy dresses or shoes at Sandpiper, Melissa Murdock’s Vinings boutique, she tries not to think about just how much money goes to the banks and credit unions that issue debit cards [...]
(Source: Associated Press/AP Online) NEW YORK – The euro retreated against the U.S. dollar Tuesday on worries about Europe’s most indebted countries. But the dollar fell against the British pound and the Japanese yen in morning trading in New York.
In response to alleged abuses, state attorneys general have crafted a draft proposal that sets out minimum standards and operating procedures that would govern how homeowners are treated. (Source: LA Times By Kenneth R. Harney) – When you take out [...]
(Source: The Baltimore Sun, Maryland By Eileen Ambrose) – During the heady days of the housing boom, unscrupulous mortgage brokers steered trusting borrowers into overpriced loans to earn bigger commissions.
MCLEAN, Va.(Source: PRNewswire) – Freddie Mac is helping consumers separate foreclosure fact from fiction in a new video series launched today on its YouTube Channel (http://www.youtube.com/FreddieMac). Each 90- to 120-second video dispels one of five common myths that could prevent [...]
(Source: Tulsa World By ROBERT EVATT) – President Barack Obama said last month that he’d like to phase out Fannie Mae and Freddie Mac.
(Source: The Miami Herald By Toluse Olorunnipa) – Thousands of tiny blue balloons will be floating above South Florida mailboxes during this weekend’s statewide mass open house event, the real-estate housing industry’s latest effort to pitch a simple message: Florida [...]
(Source: The Philadelphia Inquirer By Jeff Shields, Jennifer Lin, and Mark Fazlollah) – In a sharply worded letter to the U.S. secretary of Housing and Urban Development, Rep. Robert A. Brady, the city’s Democratic Party chief, defended the Philadelphia Housing [...]
(Source: News Sentinel) -SunTrust Bank Inc., one of the largest banks in the Knoxville market, has announced plans to repay money it received from the Troubled Asset Relief Program, the taxpayer-funded bailout. The Atlanta-based regional bank said it will combine [...]
(Source: Datamonitor) – Pacific Mortgage Group Inc., a Canadian integrated financial services company consisting of a CMHC approved mortgage lender, myNext Mortgage Company Limited and Mortgage Architects Inc., has launched the first compensation model in the Canadian mortgage industry that [...]
(Source: Associated Press/AP Online) FRANKFURT, Germany – A German court ruled Tuesday that Deutsche Bank didn’t sufficiently disclose the risks when selling one of its financial products to an investor. The Federal Court of Justice said that Germany’s biggest bank [...]
(Source: Inland Valley Daily Bulletin By Andrew Edwards) – California’s pending home sales increased during February, and “distressed” homes represented a majority of those deals, the California Association of Realtors reported Monday.
(Source: Mortgage Strategy) – Sharing risk between parents and offspring, tax relief on savings for a deposit, helping first-time sellers and a reworked MIG are just some of the innovations that could kickstart the market.
NORFOLK (Source: The Virginian-Pilot By Tom Shean) – Plans to restructure Fannie Mae and Freddie Mac have sent shivers through the nation’s home-building and home-finance industries.
(Source: Star Tribune, Minneapolis By Jim Buchta) – While home sales across the country continue to fall, the housing market in Minnesota is showing some signs of momentum. Or at least stability.
(Source: Scripps Howard News Service By STEVE BUCCI) – Dear Debt Adviser, I have a charge-off on my credit report. According to my credit report, it will fall off my report in 2012. I need information on what this means. [...]
ALBANY (Source: Times Union By Larry Rulison) – Local restaurateur and former stockbroker Mark Casolo says his bankruptcy attorney never should have been allowed to drop his case.
(Source: The New York Post By MARK DeCAMBRE) – The owners of New York’s National League baseball franchise slammed Irving Picard in a lawsuit yesterday, alleging that the bankruptcy trustee tasked with clawing back money for Bernie Madoff victims fabricated [...]
(Source: NBC 9 News) DENVER – When many of you told 9NEWS you were frustrated with how banks were treating foreclosures in Colorado, we heard you. The process is frustrating. The banks don’t return phone calls or deny your modification [...]
(Source: Associated Press/AP Online) WASHINGTON – The Supreme Court won’t stop the release of Federal Reserve Board documents identifying financial companies that received Fed loans to survive the financial crisis. An association of bankers wanted to stop the release but [...]
(Source: The Philadelphia Inquirer By Alan J. Heavens) – To handle the volume of legal work connected with all those foreclosures, it was decided that signing the documents without reading them made sense. The practice is now known as “robo-signing.”
DALLAS (Source: PRNewswire) – The final three months of 2010 were very litigious for mortgage servicers. Legal actions against servicers help push the Mortgage Litigation Index up 42 percent as foreclosure cases heated up and actions associated with loan modifications [...]
(Source: Detroit Free Press By Greta Guest) – After months of delays, the Michigan Hardest Hit fund is about to get hit hard.
(Source: Arizona Daily Star) – Recent price data show home values at nearly their lowest levels in the post-bubble era, and a coming tide of foreclosures means prices will drop further. Seven million families have lost their homes so far, [...]
(Source: Morning Star By Erin Zureick) – A job loss and costly medical bills for their young son sent the Raynors’ finances into a precarious position. Afraid they would be unable to pay the mortgage on their three-bedroom Wilmington home, [...]
(Source: The Baltimore Sun, Maryland By Eileen Ambrose) – With spring here, your thoughts might turn toward home remodeling. But even before the first nail is pounded, you have plenty of work to do.
MANATEE – (Source: The Bradenton Herald By Duane Marsteller) – The foreclosure lawsuit is typical. The lender says a couple borrowed more than $57,000 in 2003, using the money for a three-bedroom house on 12th Avenue West in Bradenton. But [...]
(Source: Chattanooga Times/Free Press) – Profits among big banks are soaring, their chief executives are in line to reap more millions of dollars annually under higher federal ceilings on dividends, and Sen. Bob Corker has just introduced a misbegotten bill [...]
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