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- AdviceForum: Stop Foreclosure and Tell Us Your Story Posted By: Davedbutch Post Time: 02-22-2012 at 09:40 PM […]
- Is it Nationstar or Wells Fargo?Forum: Wells Fargo Home Mortgage Posted By: snorklininNY Post Time: 02-22-2012 at 06:05 PM […]
- Short Sale AFTER Sheriff SaleForum: Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Posted By: Trapped No More Post Time: 02-22-2012 at 05:51 PM […]
- What is a letter of administration? What is a recorded final distribution deed? Please help! need advice.Forum: Citi Mortgage Posted By: adamb Post Time: 02-22-2012 at 05:33 PM […]
- BoA is trying to foreclose even after an approved loan modficationForum: Bank of America Home Loans Posted By: lopcas Post Time: 02-22-2012 at 05:20 PM […]
- Interesting......NOT!Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: packfan1957 Post Time: 02-22-2012 at 05:02 PM […]
- missouri forecloser lawForum: Foreclosure Laws Posted By: tilexia Post Time: 02-22-2012 at 04:07 PM […]
- Applying for a mod after bankruptcy...?Forum: Bank of America Home Loans Posted By: MomtoCon Post Time: 02-22-2012 at 02:34 PM […]
- House forclosed and went back to lenderForum: Ask the Attorneys? Posted By: msmarydaniel Post Time: 02-22-2012 at 01:56 PM […]
- Specialized Loan Servicing 2nd mortgage offer me a settlementForum: Debt Settlement Posted By: Angel.R Post Time: 02-22-2012 at 01:54 PM […]
March 2011
Who does what and when after the mortgage payments stop
(Source: By Toni Momberger, San Bernardino County Sun, Calif.) – From missing the first payment to losing title, a foreclosure is a long process. The quickest of them takes about 10 months. Proceedings are supposed to be set in motion [...]
BofA launches loan modifications for military
(Source: By Rick Rothacker, The Charlotte Observer, N.C.) – -Bank of America Corp. today announced a mortgage modification program for military customers, including principal forgiveness for some struggling borrowers. The Charlotte bank said the program assists military members who are [...]
Banks question mortgage pact
Source: The Charlotte Observer (Charlotte, N.C.) Publication date: 2011-03-11 By Rick Rothacker, The Charlotte Observer, N.C. March 11–Big banks continue to push back against a possible settlement that could require them to forgive billions in mortgage balances, even as they [...]
Foreclosure programs: What you need to know
WASHINGTON (MarketWatch) — Question: Can you explain the various federal programs available to people like me who are in danger of losing their homes to foreclosure? They seem like just another bunch of letters to me; you know, just some [...]
40 Percent of Short Sales Fall Through
(Source: By Eric Wolff, North County Times, Escondido, Calif.) —Even with motivated sellers and interested buyers, 40 percent of short sales collapse before closing, a Realtors group said Thursday. Once a rarity, sales in which borrowers sell a house for [...]
Without qualifying for exemption, forgiven mortgage debt may be taxed
(Source: Daily Herald) – WASHINGTON — With hundreds of thousands of homeowners having negotiated loan modifications or short sales or been foreclosed upon during the past year, the Internal Revenue Service has issued fresh guidance on how to handle canceled [...]
U.S. auditor blasts PHA, Street for hiring son’s firm
(Source: By Mark Fazlollah and Jennifer Lin, The Philadelphia Inquirer) – The federal government’s top housing auditor today blasted the Philadelphia Housing Authority for paying “outrageous fees to law firms that were unnecessary.” In a statement accompanying a 114-page audit [...]
Housing professionals have mixed view on foreclosure data
(Source: By Ed Waters Jr., The Frederick News-Post, Md.) – Foreclosures were up in Frederick County from January to February, but down from a year earlier. RealtyTrac, which monitors distressed homes nationwide, said Frederick County had 65 foreclosures in February, [...]
Realtors urge streamlined short sale process
(Source: By Courtenay Edelhart, The Bakersfield Californian) – The California Association of Realtors has taken out advertisements in newspapers all over the state calling on the mortgage industry to standardize and streamline the short sale process. A short sale is [...]
Spain says banks need $21 billion in new capital
(Source: Associated Press/AP Online) –MADRID – The Bank of Spain says the country’s banks need euro15.5 billion ($21 billion) in new cash to boost the sector’s solvency, a source of worries that the government might need a costly bailout. Th [...]
Arbitrators: Developer should pay $43.6 million
(Source: The Atlanta Journal and Constitution) –March 11–Arbitrators said a longtime Atlanta developer owes $43.6 million to a federal bank regulator and dozens of Georgia banks as the result of a failed $100 million development near Phoenix that helped sink [...]
Former pay czar: I didn’t have authority to do more
(Source: Herald; Rock Hill, S.C. By Christina Rexrode) – CHARLOTTE Ken Feinberg, who once headed the Obama administration’s mission to rein in the pay of executives at bailed- out firms, said Thursday that he has always thought the government’s role [...]
HSBC Bank USA appoints new senior vice president
(Source: Datamonitor) –HSBC Bank USA, N.A. has announced the appointment of Guillermo Gomez as the new senior vice president and commercial executive within the bank’s commercial banking unit. Based in Miami and reporting to Richard Lavina, Executive vice president and [...]
Suits Claim Loan Scams
(Source: By ROBBIE WHELAN WSJ) – Shortly after her home in East Elmhurst, Queens, went into foreclosure proceedings in September 2009, Haydee Campos received a mail flyer from a company called SOS Consulting, offering her help in getting her mortgage [...]
Foreclosures fall as banks face penalties
(Source: By Stephanie Hoops, Ventura County Star, Calif.) – National, state and local foreclosure filings fell in February from a year ago as federal regulators pushed lenders toward new rules requiring them to write down the value of loans to [...]
SECU Keeps Members in Homes With Loan Modifications
(Source: By Eileen Courter of CU Times) – When Marc Coburn reads reports indicating as many as 21,000 government employees in North Carolina may face layoffs later this year, it hits home. Coburn doesn’t work for the government, but as [...]
Feds help local jobless pay on mortgages
(Source: By Dave Flessner, Chattanooga Times Free Press, Tenn.) – Four years ago, Rebecca Guile thought she had achieved the American dream by buying a modest three-bedroom home in East Ridge. “I thought it was a good investment and, unlike [...]
NJ files complaints against 11 mortgage firms
(Source: Businessweek) – New Jersey’s consumer protection agency has filed violation notices against 11 companies it claims are offering mortgage loan modification services without being licensed. The complaints filed this week seek $55,000 overall in civil penalties from the businesses [...]
Real: Walk away from a mortgage or seek loan modification
(Source: The Republic) – If you have a hard time making your mortgage payment, then you’ve probably thought about applying for a home loan modification from your lender. Homeowners generally want to make good on their home loans, says Dean [...]
C.A.R. Places Open Letter Ad in Top California Newspapers, Calls for Short Sale Reform
(Source: CAR) – In an effort to bring attention to the broken and ineffective short sale process and galvanize industry leaders to help resolve the issue, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today has placed an open letter advertisement in [...]
Rate on 30-year mortgage ticks up to 4.88 pct.
(Source: Associated Press/AP Online) WASHINGTON – Fixed mortgage rates were relatively flat this week, with the 30-year loan just under 5 percent. Freddie Mac says the average rate on a 30-year fixed mortgage ticked up to 4.88 percent from 4.87 [...]
Billionaire brothers face international fraud probe
(Source: Belfast Telegraph) -TWO of Britain’s wealthiest property magnates have vowed to clear their names after being arrested as part of an international fraud investigation into a failed Icelandic bank. Billionaire brothers Robert and Vincent Tchenguiz (right) were questioned after [...]
Lenders Feeling Legal Fallout
(Source: Record, The; Bergen County, N.J.) –Foreclosure activity has dropped to its lowest level in three years, as mortgage servicers continue to work on problems with their legal procedures, RealtyTrac reported Wednesday. “The industry is in the midst of a [...]
Rowan, Hecker’s wife, to be sentenced Tuesday
(Source: By MaryJo Webster, Pioneer Press, St. Paul, Minn.) – Christi Rowan will be sentenced Tuesday morning in federal court in Minneapolis for her role in helping her then-fiance, former Twin Cities auto mogul Denny Hecker, hide assets in his [...]
Baltimore hosts hearing on foreclosures
BALTIMORE (AP) — Kevin Matthews calls himself an example of everything that can go wrong when lenders abuse the system and aren’t held accountable. Matthews, who testified Tuesday before the U.S. House Committee on Oversight and Government Reform, was a [...]
Call 4 Action: Loan Modification Scams
(Source: TMJ4) – Are loan modification scams a thing of the past? Unfortunately, no. What kinds of trouble are people running into with these scams? Although there has been a lot of warnings and crackdowns on some of these scams, [...]
Report: 43% owe more than home worth
(Source: By Duane Marsteller, The Bradenton Herald, Fla.) MANATEE — More than two of every five local homeowners with a mortgage owe more than their homes are worth, according to figures released Tuesday. More than 86,000 homeowners in the Bradenton-Sarasota-North [...]
Failing mortgage-aid programs should go, House Republicans say
(Source: McClatchy Washington Bureau)- A handful of foreclosure prevention measures run by the Obama administration are so ineffectual, inefficient and complicated that, according to Republicans in the House of Representatives, the programs should be killed outright. The House is scheduled [...]
Bankers push back on fee limits
(Source: Star Tribune, Minneapolis) –Large banks, emboldened by recent comments from regulators, are stepping up efforts to delay or amend new limits on debit-card fees that would cost them billions of dollars in lost income. Wells Fargo & Co. Chief [...]
AARP Sues U.S. Over Effects of Reverse Mortgages
(Source: NY Times) – Reverse mortgages, which pay older homeowners a regular sum against the equity in their house, are supposed to shield borrowers from economic upheaval. But the popular loans have become tangled up in the real estate collapse. [...]
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