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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
Unlicensed Loan Modification Services and Advance Fees
(Source: DFI) – The Department of Financial Institutions has conducted an investigation of the source of these materials, and ascertained that they are neither from the consumer’s lender or any branch of the government, but from companies affiliated with a [...]
3 Big Banks Lose Mortgage Modification Incentives
(Source: By Alejandro Lazo, Los Angeles Times) – The Obama administration has punished three of the nation’s largest banks, judging them unworthy of receiving financial incentives through its signature foreclosure relief program until they improve their practices.
Mortgage Broker Under Fire Again
(Source: Source: ONE News) – A mortgage broker on the Kapiti Coast is coming under fire again, with more infuriated clients claiming they lost their homes because of her actions.
Mortgage Mess Victim: Sarah Palin?
(Source: NECN: Peter Howe, Salem, Mass.) – In the three years since the U.S. real-estate bubble burst, something we’ve learned is what a mess investment banks and mega-banks made as they took millions of shoddily documented mortgages and sliced and [...]
Goldman Closes the Door on Subprime
(Source: Business Week By Karen Weise and Christine Harper) – When Goldman Sachs (GS) bought Litton Loan Servicing, a firm that collects mortgage payments from homeowners, in 2007 for an unannounced price, it seemed like a simple way to get [...]
NY Fed Hits Shaky Mortgage Market In Maiden Lane Sale
NEW YORK -(Source: nasdaq)- In the face of a deteriorating market, the Federal Reserve Bank of New York on Thursday sold just half of the risky mortgage-backed bonds it offered from its temporary portfolio created to absorb securities from American [...]
Fugitive Real Estate Agent Arrested on Fraud Charges
TAMPA (Source: Herald Tribune By Michael Braga) – Rich Bobka, allegedly a key member of one of Florida’s largest mortgage fraud rings, was arrested in Manatee County and transported Thursday to Tampa, where he made his initial appearance before a [...]
Real-Estate Scam That’s Devastating Prices
WASHINGTON (Source: MarketWatch By Lew Sichelman) — Question: My neighbor in Palm Springs, Calif., who claims to have millions or more in the bank, let his home with a $1 million mortgage go into foreclosure. A real-estate friend of his [...]
The China Real Estate Boom May Be Finished: Now What?
(Source: Business Insider) – Wall Street Journal ran this story that residential property prices in 9 major cities are already falling. According to Dragonomics, home prices in mine major cities tracked by Dragonomics recoded a 4.9% yoy drop in April. [...]
Property Bubble in China Deflating
(Sorce: Wall Street Journal By Sushil Cheema) – Property Bubble in China Deflating: After years of housing prices gone wild, China’s property bubble is starting to deflate. Residential prices are falling, raising the prospect that the Chinese economy may slow [...]
Bill to Protect Home Buyers From Fly-By-Night Developers Soon
(Source: The Economic Times) – NEW DELHI: The much-awaited Real Estate Regulation Bill, 2011, which seeks to protect home-buyers from fly-by-night developers, is under process of consultation by various ministries.
FDIC Calls for Stricter Security Efforts After Citigroup Hacking
(Source: By Rachel Roubein, USA TODAY) – Federal regulators are pushing banks to keep customer financial information more secure after about 200,000 Citigroup credit card accounts were hacked last month.
Spain Arrests 3 “Hacktivists” for Attacks on Sony, Banks
(Source: Global Post) – Spanish police have arrested three hackers from the vigilante group Anonymous for online attacks on Sony PlayStation and the governments of Egypt, Libya and Iran among others.
Filipino Homeowners Get Principal Reduction Relief
UNION CITY, California (Source: by Henni Espinosa, ABS-CBN North America Bureau) – Amy and Peter Asi, who lost both their jobs in 2009, almost gave up on their home. For two years, they had asked their lender, Wachovia, to modify [...]
Banks Offer Homeowners a Chance
(By RICK ROTHACKER McClatchy Newspapers) – After medical problems and a lost job, Edwin Garcia has struggled to stay current on his mortgage in recent years.
5 Years With No Mortgage Payment
NEW YORK (Source: CNNMoney By Les Christie) — Charles and Jill Segal have not made a mortgage payment in nearly five years — but they continue to live in their five-bedroom West Palm Beach, Fla. home.
Homeowners Who Will Consider Strategic Default Doubles In One Year
(Source: Business Insider) – A report from Fannie Mae found 27% of homeowners would consider walking away. The previous year only 15% would think of defaulting on a mortgage they could still afford.
U.S. Targets Poor-Performing Mortgage Servicers
(Source: Reuters) – The U.S. Treasury has started withholding payments to three of the biggest mortgage servicers because of their poor performance in modifying loans under a federal program to assist homeowners behind in their payments.
Irvine Real Estate Broker Admits $4.3 Million Ponzi Scam
IRVINE (Source: By BRIAN MARTINEZ THE ORANGE COUNTY REGISTER) – Beware of false profits.
Theft Charges Against Loan Modifier Dismissed
NEWPORT BEACH (Source: By ALEJANDRA MOLINA THE ORANGE COUNTY REGISTER) – Multiple counts of grand theft against a Costa Mesa loan modifier have been dismissed, according to court records.
Ex-Broker Gets 16 Years In Loan Fraud Case Read
JACKSON, Miss. -(Source: WAPT) – Former Ridgeland mortgage broker Mark Calhoun has been sentenced to 16 years and eight months in prison for mortgage fraud in a scheme that involved more than $10 million in fraudulent loans.
Guyanese Attorney Jailed for Mortgage Fraud
NEW YORK, United States, Thursday June 9, 2011 (Source: Caribbean360) – Guyana-born lawyer Cheddi Goberdhan has been jailed for five years in the United States for his role in a US$23 million mortgage fraud scheme involving more than 44 properties [...]
Home Equity and Short Sales
(Source: Seeking Alpha by: Tim Iacono) – I’m a little late getting to this WSJ story about the Corelogic report on negative home equity and what often follows it – a short sale. But, it seemed worthwhile to bring it [...]
Obama Administration To Withhold Mortgage Incentive Payments To Banks
WASHINGTON -(Source: nasdaq By Alan Zibel)- The Obama administration is taking the first steps to punish mortgage companies for poor performance in its loan assistance program, withholding incentive payments for three of the nation’s largest banks.
Government Sues Morgan Stanley Over Pension Losses
(Source: Reuters) – The government’s pension guarantee agency has sued Morgan Stanley for $25 million over its selection of money-losing mortgage bonds as investments for the New York hospital system.
‘Unpaid Student Loan’ Raid Claim Refuted as Feds Target California Couple in Fraud Probe
(Source: FoxNews) – A California man who initially claimed to a local television station that he was roughed up by “SWAT team” members who allegedly battered down his front door to execute a search warrant related to his estranged wife’s [...]
Bank Said No? Hedge Funds Fill a Void in Lending
(Source: New York Times By AZAM AHMED) – Hedge fund managers have been called plenty of names.
Big Banks May Soon Shed Jobs
NEW YORK (Source: By Michael J. MooreBloomberg News ) — Financial firms, shunned by investors to a degree seen only once in the last 20 years, are becoming a smaller part of the economy as they deal with a past [...]
Governments Heap More Pressure on Offshore Banks
LONDON/WASHINGTON, June 9 (Source: Reuters By Chris Vellacott and Kevin Drawbaugh) – Tax authorities have been stepping up pressure on the offshore banking industry, with the United States promising a summer crackdown and Britain pursuing thousands of people with money [...]
IMF Acting Director: China’s Currency Remains Undervalued
(Source: The Washington Post By Howard Schneider) – China’s currency remains undervalued and continued government control of its financial system remains one of the central risks to the country’s economy, International Monetary Fund acting managing director John Lipsky said at [...]
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