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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
Time to Invest in Real Estate Again; Here’s How
(Source: Seeking Alpha) – A lot has changed in the last two months.
Big Banks Still Drive Manhattan Rents
(Source: Reuters By Ilaina Jonas) – Large banks are still the high-octane fuel that drives New York’s commercial real estate rents, property experts said on Monday at the Reuters Global Real Estate and Infrastructure Summit in New York.
Banks Will Be Sued If Foreclosure Talks Collapse, Two States Say
June 21 (Source: Bloomberg) — Two state attorneys general who are among those leading negotiations with the five largest U.S. mortgage servicers over their foreclosure practices said the banks would be sued if a settlement isn’t reached.
Madigan and Other Attorneys General Meet with Banks on Foreclosure Practices
(Source: WJBC By: Nick Gale) – Illinois Attorney General Lisa Madigan is one of several attorneys general from across the nation in Chicago this week, in negotiations with the top five U.S. mortgage servicers over foreclosure practices. The San Francisco [...]
Busted Credit Unions Blame Banks for $2.7 Billion Securities Fiasco
KANSAS CITY, Kan. (Source: CN By Joe Harris) – The nation’s largest corporate credit union was forced into involuntary liquidation after being stuck with more than $2.7 billion in residential mortgage-backed securities, the National Credit Union Administration Board claims. RBS [...]
Buffalo, Falls Can Use This New Tool to Cut Down on Sky-High Vacancy Rates
(Source: Buffalo News) – Legislation that could help ease the crisis in vacant housing in Buffalo and Niagara Falls has just passed both houses. Gov. Andrew M. Cuomo shouldn’t waste any time taking pen to paper and signing it.
Ireland PM Concerned Greek Crisis Harming Irish Market Aim
DUBLIN -(Source: NASDAQ) – Irish Prime Minister Enda Kenny said Wednesday he’s anxious any agreements at this week’s meeting of fellow European Union leaders will push Ireland further into crisis.
German Govt To Meet Banks, Insurers On Greece Aid
FRANKFURT (Source: Wall Street Journal By Eyk Henning and Joern Rehren) – Germany’s finance ministry will host a meeting Wednesday afternoon with several German bank and insurance representatives to discuss private participation in helping Greece to avoid defaulting on its [...]
House Republicans Draft Letter on Warren Mortgage-Talks Role
(Source: Bloomberg By Phil Mattingly) – U.S. House Republicans will press for new details on Elizabeth Warren’s role in talks to settle federal and state claims that mortgage servicers improperly processed foreclosures.
Long-Promised Loan Aid for Jobless is Launched
(Source: Boston Globe By Jenifer B. McKim) – A federal program that will provide interest-free loans to unemployed homeowners so they can make mortgage payments was launched yesterday after months of delays, with $61 million earmarked for Massachusetts.
City Attorney Seeking Homeowners Involved in Loan Modification Scam
SAN DIEGO (Source: 760kfmb) – The City Attorney’s Office announced Monday it is looking for homeowners who might have been charged upfront for unfulfilled loan modification services by Nations Mortgage Solutions, whose owner was recently prosecuted.
Former CEO of Mortgage Company Taylor Bean & Whitaker to be Sentenced for Role in $3B Fraud
ALEXANDRIA, Va. (Source: Washington Post) — Prosecutors are seeking a six-year prison sentence for the CEO of what had been one of the nation’s largest private mortgage lenders.
Women Get 10 Years for Mortgage Fraud Scheme
(Source: NBC Chicago By Rosie Powers) – Two women were sentenced Monday to 10 years in the Illinois Department of Corrections for involvement in a suburban mortgage fraud scheme.
NY Judges Order BofA to Face Two Mortgage Lawsuits
(Source: Reuters By Jonathan Stempel) – Two Manhattan federal judges have ordered Bank of America Corp (BAC.N) to face lawsuits accusing the largest U.S. bank of misleading investors about mortgage-backed securities.
Short Sale Tips for Homeowners
(Source: Arizona Central by Melissa Blasius) – Thousands of Arizona homeowners will try to short sell their homes this year. A short sale is when a lender accepts less than the mortgaged value of a home during a sale, in [...]
Foreclosures Are Not Going To Go Away Anytime Soon
(Source: By Rose Meily, for Silicon Valley Community Newspapers) – When it comes to foreclosures and short sales, there is not much good news on the horizon, a foreclosure data expert said last week. Michelle Lenahan, director of customer service [...]
A Real Estate Investment That Hasn’t Tanked
(Source: Smart Money By ANNAMARIA ANDRIOTIS) – These days, skeptical investors have every right to put “a winning real estate investment” right up there with “a bridge in Brooklyn.” But a surprising corner of the market real estate investment trusts [...]
Where Rich Chinese Are Buying Real Estate
(Source: Forbes) – Vancouver, London and the big cities down under are second homes of choice for China’s super rich, according to real estate services firm Colliers International.
Real-Estate Brokers Expand Beyond Web Listings to Blogs, Social Media
(Source: By LAUREN BEALE Los Angeles Times) – As a blogger, Michael Gardner relies on a familiar celeb-tracker formula, lacing beauty shots with exclamation-pointed prose about the “super sexy” and “crazy famous.”
Iranian Company Duped U.S. Banks: New York Indictment
NEW YORK (Source: Noeleen Walder Reuters) – U.S. prosecutors took aim at Iran’s main state shipping line on Monday, indicting several companies and individuals for helping the blacklisted firm’s weapons proliferation activities by allegedly falsifying bank records.
Feds Sue Bankers Over Fall in Bonds
(Source: Wall Street Journal BY Liz Rappaport AND Ruth Simon) – Federal regulators accused J.P. Morgan Chase & Co. and Royal Bank of Scotland Group PLC of duping five large credit unions into buying more than $3 billion in mortgage [...]
No Change to Interchange Fee Law Means Big Shakeup for Consumers
(Source: Fox Business By Odysseas Papadimitriou) – Despite the best efforts of large banks, the restriction on debit card interchange fees, originally set forth by the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, remains on [...]
PNC Challenges Regions, SunTrust With RBC Deal to Expand in U.S. Southeast
(Source: Bloomberg By Laura Marcinek) – PNC Financial Services Group Inc. (PNC)’s $3.62 billion deal to buy Royal Bank of Canada (RY)’s U.S. retail unit thrusts the bank across the U.S. southeast, challenging local lenders hurt by the real-estate bust.
Basel III Requirements Possibly Shaped PNC’s Acquisition-Finance Strategy
(Source: Housing Wire by KERRI PANCHUK) – Basel III capital requirements may have prompted mortgage lender PNC Financial Services Group to agree to finance its acquisition of RBC Bank through the issuance of $1 billion in preferred stock and $1 [...]
China To Allow Foreign Banks To Sell Mutual Funds In China
BEIJING (Source: The Wall Street Journal)–China’s securities regulator has relaxed restrictions and allowed more firms, including locally incorporated foreign banks, to sell mutual funds in China from October 1, China …
Wells Fargo Hosts Workshop for Customers Facing Mortgage Payment Challenges
Jun 20, 2011 (Source: Wells Fargo) – In response to the continued challenging economy, Wells Fargo will be hosting a local Home Preservation Workshop to help Southern California Wells Fargo or Wachovia customers who may be facing financial hardships. Borrowers [...]
Global Debt Registry Aims to Succeed Where MERS Failed
(Source: The Financial Services Daily Monitor By Jim Kim) – Whether you fundamentally believe that MERS has a legitimate role to the play in the mortgage sale process–and there are many vociferous critics right now–it would be hard to envision [...]
Home Equity Loan Losses Pile up for Bank of America
(Source: By Rick Rothacker Charlotte Observer) – Of all the mortgage woes at Bank of America, one of the less-publicized ones could turn into one of the most expensive: home-equity loans.
Should Lenders Speed up Foreclosures?
SAN ANTONIO (Source: By Jeff Collins The Orange County Register) — Efforts to keep defaulting homeowners from losing their homes have largely failed, leaving few options apart from letting foreclosures take their course, attendees at a national real estate writers [...]
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