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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 […]
June 2011
US Mortgage Modifications Down 10.5% From Year Ago
WASHINGTON -(Source: NASDAQ By Alan Zibel)- The number of troubled U.S. homeowners receiving help with their mortgages fell by more than 10% from a year earlier in the first quarter as fewer borrowers qualified for help.
‘Mortgage Approved!’ 5 Factors That Make it Happen
NEW YORK (Source: By CANDICE CHOI Associated Press) – There’s rarely been a better time to buy a home. If only you could get approved for a mortgage.
Chart of the Day: Smaller Banks Write Better Mortgages
(Source: the Atlantic) – There’s another reason why it might be a good idea to break up the banks: the smaller the bank, the better it is at writing mortgages. At least, that’s what the data shows. This point was [...]
Small Banks Squeezed on Mortgages, Lawmakers Say
WASHINGTON (Source: MarketWatch) — Equal access to the secondary mortgage market is necessary to curb further bank concentration of the industry, Senate lawmakers from both parties said on Tuesday.
Bad Mortgages Weigh on Banks
(Source: The Wall Street Journal BY NICK TIMIRAOS) – U.S. banks hold a much higher rate of defaulted mortgages on their books than do mortgage giants Fannie Mae and Freddie Mac, according to a report issued Wednesday by the Office [...]
Man Convicted in Mortgage Fraud to Be Sentenced
ALEXANDRIA, Va. (Source: The Sacramento Bee) – A man convicted of orchestrating a $3 billion fraud as chairman of one of America’s largest private mortgage companies will be sentenced to prison.
Yair Levy Banned From NY Real Estate
(Source: Crains New York By Amanda Fung) – The state Attorney General Eric Schneiderman office announced Wednesday that beleaguered developer Yair Levy has been permanently banned from doing business in New York.
Q&A: How to Survive a Short Sale
(Source: By JIM BUCHTA Star Tribune (Minneapolis) – Chris Willette became a short-sale expert the hard way: He did his own. Almost three years ago, the Edina (Minn.) Realty sales agent found himself in the unenviable position of having to [...]
Chinese Homebuyers Throw a Life Raft to the U.S. Housing Market
(Source: By Jason Simpkins, Managing Editor, Money Morning) – From New York to Honolulu, Chinese homebuyers are swooping in to help salvage the U.S. housing market.
Inside a High-End Real Estate Deal Gone Bad
(Source: By E. SCOTT RECKARD Los Angeles Times) – Scattered across 540 acres of San Diego County hills and ravines, the 235 opulent homes of the Bridges at Rancho Santa Fe flank a private golf course and country club with [...]
Real Estate: Properties on Lake Tahoe not Immune to Poor Economy
INCLINE VILLAGE (Source: RGJ Juan Lopez) – Cristina Van Dyck has been aRealtor in Incline Village since the late 1980s.
BofA, Others Paying Billions for Toxic Mortgages
(Source: New York Post By MARK DeCAMBRE) – Now, this is a home clearance sale.
Matts Says BofA Settlement `Better News’ for Other Banks
June 29 (Source: Bloomberg) — Mary Jane Matts, director of large-cap value strategies at Fifth Third Asset Management, talks about Bank of America Corp.’s agreement to pay $8.5 billion to resolve claims made by bondholders including BlackRock Inc. over soured [...]
In U.S. Monetary Policy, a Boon to Banks
(Source: By JESSE EISINGER, ProPublica) – The most pronounced development in banking today is that executives have become bolder as their business has gotten worse.
Banks Convince Fed to Raise Swipe Fee Limit
(Source: The Washington Post By Ylan Q. Mui) – The Federal Reserve raised its limit Wednesday on how much merchants must pay to banks each time a debit card is swiped, an eleventh-hour reprieve for the financial industry after a [...]
SEC Sets Disclosure Rules for Credit-Swaps Market
WASHINGTON (Source: By Ronald D. Orol, MarketWatch) — Securities regulators on Wednesday acted to issue new rules on how major financial institutions run their derivatives businesses, responding to concerns that some banks sold investors securities that were fraught with conflicts [...]
German Banks, Government Strike Deal on Greek Debt
FRANKFURT (Source: The Wall Street Journal By ULRIKE DAUER) — Germany’s financial sector Thursday reached a draft agreement with the German government on how private bond investors will participate in plans to extend a new aid package to Greece.
New Lloyds CEO Cuts 15,000 Jobs in Revival Plan
(Source: Reuters By Sudip Kar-Gupta and Steve Slater) – Lloyds will axe 15,000 jobs and halve its international presence, a plan its new boss hopes will save 1.5 billion pounds a year by 2014 and return the part-nationalised bank back [...]
Homeowners deserve more than halfhearted mortgage relief
(Source: Los Angeles Times by Michael Hiltzik) The Home Affordable Modification Program has fallen far short of its goal of helping as many as 4 million borrowers. Rather than end HAMP, the government should change its focus to reducing the [...]
Homeowners at risk of foreclosure can get help
(Source: Sioux Falls Argus Leader by Sarah Reinecke) South Dakota homeowners at risk of foreclosure might qualify for help through a federal loan program. The state will receive more than $2 million to assist homeowners through the Emergency Homeowner’s Loan [...]
Homeowners fight illegal foreclosure
(Source: Park Record – Andrew Kirk) If your Summit County home is foreclosed upon by a company that does not hold your loan and has no legal right to operate in Utah, there may be nothing you can do about [...]
Big Banks Bow Out of Reverse Mortgage Market
(Source: U.S. News & World Report by Meg Handley) Seniors will have fewer avenues to secure steady retirement income, now that the two largest lenders in the reverse-mortgage business have decided to discontinue offering the product. Wells Fargo, the nation’s [...]
Banks’ Appetite for Jumbos May Soften Blow of New Loan Limits
(Source: Bloomberg by Prashant Gopal and Jody Shenn) Jon and Jenny Clyman are eager to buy a new home near better schools in New York’s Westchester County before Oct. 1, when new limits on government-backed mortgages could force them into [...]
Commercial Lenders Take Step Into Riskier Deals
(Source: New York Times by Julie Satow) The market for commercial real estate loans is coming back, but already some industry professionals are warning that risky practices that were common in the recent boom are returning. An increasing number of [...]
Richard Kalina sentenced for commercial real estate fraud
(Source: KSDK) St. Louis – A St. Louis man was sentenced Tuesday to 27 months in prison on fraud charges and ordered to pay $877,000 in restitution. Between October 2008 and February 2009, 46-year-old Richard Kalina refinanced his debt on [...]
Pioneering real estate agent killed in motorcycle crash
(Source: WLBT-TV by Roslyn Anderson) A motorcycle accident near the reservoir Monday claimed the life of a prominent real estate agent. Ann Jensen moved from New York to Jackson in 1969 and soon began changing the local landscape for women. [...]
The Lawyer Behind the Bank of America Settlement
(Source: New York Times by Peter Lattman) DealBook doesn’t have a lawyer of the day award. But if it did the nod would go to Kathy D. Patrick, a litigator at a small Houston firm who stared down Bank of [...]
Bank of America Mortgage Settlement: Big Banks Could Be Forced to Repay $45 Billion
(Source: Time – Blog by Stephen Gandel) Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed [...]
Panel Revives Banks’ Suit Against MBIA Over 2009 Breakup
(Source: New York Law Journal by Brendan Pierson) A $5 billion fraud suit against bond insurer MBIA over its 2009 breakup is not preempted by New York’s Insurance Law, the Court of Appeals ruled yesterday. In allowing the case to [...]
What Some Banks Don’t Want You to Know
(Source: New York Times (blog) by Jay Goltz) Several weeks ago, the top small-business bankers at Wells Fargo agreed to take questions from You’re the Boss readers. For reasons that escape me, I’ve found that bankers are often reluctant to [...]
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