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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 […]
July 2011
Short Sales, Long Waits: Buyers and Sellers Find Process Frustrating
DETROIT (Source: By Greta Guest, Detroit Free Press) – Short sales are among the most arduous real estate transactions, often taking six months or more to close — if they get done at all.
Rents Hit a Record High In Hub Area
(Source: Boston Globe By Jenifer B. McKim) – Boston-area rents are hitting new heights – with the median price recently reaching $1,665 a month – as the vacancy rate falls to the lowest level in almost a decade, new data [...]
Banks Seeing Profits, Dodd-Frank Under Fire, AmEx and Facebook Partnership
(Source: Forbes) – Default rates fell again in June and credit card companies are getting a boost to their bottom line. Bank of America, Chase and Discover showed significant improvement in defaults. Cardholders are also using their credit cards more. [...]
The Challenge of Overcoming Shrinkage
(Source: The Motley Fool) – There’s a new trend in U.S. banking: shrinkage.
Consumers vs. the Banks
(Source: New York Times) – The Consumer Financial Protection Bureau officially opened its doors last week a year after it was established under the financial reform law. Score one for consumers. But the fight to create a bureau strong enough [...]
Consumer Watchdog Hobbled From Start
(Source: STL Today) – If you’ve ever thought someone was playing fast and loose with the rules on your credit cards, credit score or mortgage, but you had no idea where to go with your complaint, you now have a [...]
Banks Pay Back TARP Funds By. . .Borrowing from Treasury
(Source: FOX News) – Most of the big banks have repaid the government funds they received under the Capital Purchase Program (CPP), the pillar of TARP under which Treasury bought preferred shares in the nation’s banks. Enough so that, combined [...]
European Shares Slip as Banks Fall
LONDON, July 25 (Source:Reuters By Joanne Frearson) – European shares fell on Monday, led by banks hit by concerns over a possible default in the United States and by a downgrade of Greece’s sovereign debt by ratings agency Moody’s.
Asian Stocks Fall as U.S. Lawmakers Fail to Agree Deal on Debt
July 25 (Source: San Francisco Chronicle) — Asian stocks fell, led by banks and exporters, as the failure by U.S. lawmakers to reach an agreement to raise the federal debt limit increased the prospect of a default that may threaten [...]
State Homeowners Gain New Rights When Facing Foreclosure
(Source: KPIU By Bellamy Pailthorp) – Starting tomorrow, struggling homeowners in Washington have new rights.
Q&A: Deed In Lieu Of Foreclosure Saves Time As a Last Resort
(Source: South Florida Sun-Sentinel) – QUESTION: Can you please explain what a deed in lieu of foreclosure is and how it works?ANSWER: In a deed in lieu of foreclosure, you surrender your home to the lender to avoid the hassle [...]
Bad Mortgages Still Haunt Bank of America
(Source: BusinessWeek By Hugh Son) – Under Chief Executive Officer Brian T. Moynihan, Bank of America (BAC) is spending billions of dollars to deal with the aftermath of the housing bust, reaching settlements with mortgage bond investors and insurers and [...]
Banks’ Mortgage Servicing Falls Short, Connecticut Says
(Source: David McLaughlin, Bloomberg News) – Connecticut Attorney General George Jepsen is seeking meetings with four U.S. lenders to discuss their foreclosure practices, saying they are failing to devote sufficient resources to servicing mortgages.
Mortgage Investors May Be Owed Three Times More in BofA Deal
(Source: By David McLaughlin and Jody Shenn) – Investors in Countrywide Financial Corp. mortgage bonds may be owed three times or more of what they’re being offered in an $8.5 billion settlement with Bank of America Corp. (BAC), a group [...]
Ex-San Diegan Guilty of Real Estate Fraud Again
(Source: San Diego Reader By Don Bauder) – Former North County real estate swinger Philip Rand Lochmiller was found guilty in federal court in Denver today (July 21) of 31 counts of conspiracy, fraud, and money laundering.
Real Estate Agent Faces Drug Trafficking Charge
(Source: Daily Commercial MILLARD K. IVES) – One of Lake County’s most successful real estate agents has been jailed under a half-million-dollar bond for trafficking in methamphetamine, the Lake County Sheriff’s Office said.
Swiss Adviser Charged In Tax Fraud Tied To UBS
(Source: Reuters By Jonathan Stempel and Basil Katz) – A Swiss financial adviser has been charged with helping more than 60 U.S. taxpayers hide more than $184 million in Swiss bank accounts and move assets from UBS AG to other [...]
Councilwoman Selling Home In Short Sale
(Source: Sign on San Diego By Jen Lebron Kuhney) – Councilwoman Marti Emerald is selling her Tierrasanta home for less than what she owes on it in a short sale.
Preventing Foreclosures By Making “Short Sales” Easier
FRESNO, California (Source: KFSN Linda Mumma) — California realtors are calling on lenders to do more to prevent families from going into foreclosure. This after a recent survey found more than half of Central Valley realtors characterized closing short sale [...]
Realtors Wary After Man Is Charged With Kidnapping and Robbery
(Source: Jackson Sun Ned B. Hunter) – The attempted kidnapping and near sexual assault of a female Jackson real estate agent on Wednesday has reminded those in the industry about the dangers of their profession.
California Will Borrow $5 Billion From Banks to Bypass U.S. Debt Drama
(Source: LA Times Blogs) – California will seek $5 billion in short-term loans from banks and other financial institutions next week, hoping to avoid the risk of being locked out of the markets if Congress fails to raise the federal [...]
GAO Audit Report Shows Federal Reserve Issued $16 Trillion During Recession, Sen. Sanders Urges Reform
(Source: American Indapendent By Mikhail Zinshteyn) – Two days after the Government Accountability Office’s one-time audit examining Federal Reserve activities during the economic downturn was published, Sen. Bernie Sanders (I-Vt.) called its lending decisions, “socialism for the rich and rugged.”
Lenders Still Failing to Help Firms, Bank Says
(Source: The Independent By David Prosser) – Britain’s banks are still lending less money to businesses, the Bank of England warned yesterday, publishing figures which showed that two years’ of declines continued over the second quarter of 2011.
Here’s What Banks Are Doing In Preparation For The Doomsday Scenario
(Source: Business Insider Courtney Comstock) – Alec Phillips, a political economist at Goldman Sachs, warned clients on a conference call on Tuesday that financial sector banks might have higher capital requirements if Treasuries are downgraded.
AIG Eyes Banks to Lead ILFC Offering
(Source: BY RANDALL SMITH AND SERENANG) – American International Group Inc. has tentatively identified the Wall Street banks that will lead an initial public offering of its large airplane-leasing unit, International Lease Finance Corp., according to people familiar with the [...]
Banks Get Scant Help Preparing For Default
(Source: Wall Street Journal BY VICTORIA MCGRANE) – U.S. bank officials say they’re getting little guidance from the Treasury Department, the Federal Reserve or other regulators as they map out how to deal with a possible downgrade in U.S. Treasury [...]
Europe’s Biggest Banks Face $30B Greek Writedown
(Source: Bloomberg By Gavin Finch and Liam Vaughan) – Europe’s biggest banks stand to lose 20.6 billion euros ($29.7 billion) on their Greek government bonds after lenders in the region pledged to contribute to a new rescue package for Greece.
Mediation Efforts Fail To Stem Foreclosure Tide
PRINCE GEORGE’S COUNTY, Md. (Source: MSNBC By Kat Aaron and Mary Kane) — On a hot summer evening, two second-year law students are trudging through the leafy neighborhoods of suburban Prince George’s County, knocking on doors. Toting stacks of fliers, [...]
Free Legal Clinic On Loan Modification Fraud In The Central Valley
LOS ANGELES (Source: Asian Journals) – The Asian Pacific American Legal Center (APALC), a member of Asian American Center for Advancing Justice, and Fresno Center for New Americans, will provide a free legal clinic on pre- and post-foreclosure rights and [...]
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