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- Sherrie Lyons-Bray on Parsa Law Group – Targeted by California Attorney General
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- Jim Demetz on Does NACA lie to homeowners and the media? YES!
- HOMEOWNERS RIGHTS ON FORECLOSURES on Homeowner rights while in foreclosure
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- LR Wilbanks on Woman sues CitiMortgage for illegal debt collection
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- A year later after my Strategic Default - some eye-opening surprises..Forum: Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Posted By: Hanover Post Time: 05-16-2012 at 11:01 AM […]
- B of A Survey? Anyone else get one?Forum: Bank of America Home Loans Posted By: skoobywrx Post Time: 05-16-2012 at 10:01 AM […]
- Bank of America is a joke!!!!Forum: Bank of America Home Loans Posted By: mayela Post Time: 05-16-2012 at 09:59 AM […]
- On Chase Repayment Plan - Filed Chapter 7 - help please!Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: chased in seattle Post Time: 05-16-2012 at 07:28 AM […]
- Will A Line of Credit Foreclose??Forum: US Bank Home Mortgage Posted By: tazzaro Post Time: 05-16-2012 at 12:35 AM […]
- Need advice and directionForum: Wells Fargo Home Mortgage Posted By: menmn Post Time: 05-15-2012 at 09:49 PM […]
- Are we just out of 8 months worth of payments.. they suddenly stopped accepting payments.Forum: Bank of America Home Loans Posted By: FrustratedInSoCali Post Time: 05-15-2012 at 09:35 PM […]
- Done with Citi - Loan Mod process a jokeForum: Citi Mortgage Posted By: done with citi Post Time: 05-15-2012 at 09:01 PM […]
- need advice regarding my fannie mae mod please!Forum: Loan Modification Posted By: trixi Post Time: 05-15-2012 at 08:44 PM […]
- foreclosure refForum: US Bank Home Mortgage Posted By: squiz Post Time: 05-15-2012 at 08:10 PM […]
August 2011
How to Get a Better Deal at Your Bank
(Source: NASDAQ) – Pesky bank fees aren’t just creeping up — they’re attacking from all sides. Banks impose 49 different fees, on average, according to the Pew Charitable Trusts. Getting paper statements in the mail will cost you $1 to [...]
US Bank Closures Reach 63 In 2011 As Regulators Close Two Banks
(Source: RTTNews) – The Federal Deposit Insurance Corp. or FDIC announced Friday the closure of two U.S. banks, taking the count of U.S. bank closures in 2011 to 63, after the 157 bank closures in 2010.
Asian Markets Reel After U.S. Downgrade
HONG KONG (Source: The Wall Street Journal BY ALEX FRANGOS) — Stock markets across Asia reeled Monday in reaction to the downgrade of U.S. government debt, fears of a global economic slowdown and the ongoing euro crisis.
Fannie Mae Loss Widens; Seeks $2.8 Billion From U.S.
(Source: The associated Press) – Government-controlled mortgage company Fannie Mae said Friday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults amid the ongoing difficulties in the housing and mortgage markets.
Five Lawyers Charged In $58M Mortgage Fraud Scheme
(Source: Wall Street Journal By Chad Bray) – Federal prosecutors in New York on Thursday charged fourteen people in an alleged $58 million mortgage fraud, including five lawyers, one of whom previously had been disbarred. The scheme, which ran from [...]
AARP Files Another Reverse Mortgage Suit
(Source: New York Times By RON LIEBER) – In recent months, AARP Foundation Litigation has prodded the United States Department of Housing and Urban Development to reverse a rule change that had made it harder for some surviving spouses of [...]
Wells Fargo Suit Says Bank Failing to Obey Federal Reverse Mortgage Rules
(Source: Bloomerg By Margaret Cronin Fisk) – Wells Fargo & Co. (WFC) was accused in a group lawsuit of ignoring federal rules on reverse mortgages and forcing homes into foreclosure instead of giving heirs a chance to buy them.
Home Ownership Hits Lowest Level Since 1965
NEW YORK (Source: CNNMoney By Les Christie) – As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a [...]
Investing in Real Estate on the Rise
(Source: Washington Post By Cezary Podkul) – Wayne Cummins’s stock portfolio took a huge hit during the financial crisis, so he has been hanging on to more cash than usual instead of investing it. But with the balance slowly building [...]
Proposed Bill Seeks to Eliminate Real Estate ‘Scavenger Sales’ in Michigan
GENESEE COUNTY, Michigan (Source: MLive By Kristin Longley) — Every year, hundreds of tax foreclosed houses are sold for a pittance at auction, sometimes for as low as $100 — often beginning a cycle of neglect, foreclosure and blight.
College Kids Turning to Loan Sharks for Tuitions
(Source: Joongang daily) – Chang Yu-ri, a second-year college student studying at a high-ranking private university outside Seoul, is frequently squeezed for cash these days.
Repay Student Loans by Selling a Kidney, Says British Academic
(Source: Bio Edge by Jared Yee) – Kidney donors should be paid £28,000 for their organs, says an academic who claims the move could help students pay off their university debts. In a comment published online at BMJ.com, Dr Sue [...]
New Fee to Bank Cash
(Source: Wall Street Journal By LIZ RAPPAPORT) – Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash.
Bank of America Pursues Protection From Lawsuits
(Source: The Washington Post By Cezary Podkul) – Bank of America is pursuing a settlement with state and federal officials that would shield the company from lawsuits over its mortgage practices in exchange for reducing the amount that struggling homeowners [...]
Wells Fargo Cuts U.S. Banks Sector to Marketweight
(Source: Reuters) – Wells Fargo cut its rating on the U.S. bank sector to “marketweight” on weaker-than-expected economic growth and persistently low interest rates.
China Tells Banks to Fund Building of Low-Cost Housing
Aug 5 (Source: Reuters) – Chinese banks should lend to healthy local governments that are building state-subsidised homes, the banking regulator said, making clear it does not want its credit clampdown to starve all local governments of funding.
Iceland Defaulted Banks May Drop Repayment Target After Ruling
Aug. 5 (Source: Business Bloomberg By Omar R. Valdimarsson) — Iceland’s failed banks may drop efforts to reach an orderly settlement and instead file for bankruptcy protection after a court ruled that creditors with rejected claims can seek repayment, Glitnir [...]
Hefty Charges Weigh on RBS
LONDON (Source: The Wall Street Journal BY MARGOT PATRICK AND SARA SCHAEFER MUÑOZ) — Royal Bank of Scotland Group PLC on Friday reported a large first-half net loss, driven by hefty charges for selling fraudulent payment-protection insurance and a markdown [...]
New Jersey Division of Consumer Affairs Pursues Fraudulent Loan Modification Providers While Seeking Help for the Victims
NEWARK, NJ – August 3, 2011 – (Source: Associa) — Continuing the State’s on-going efforts to thwart fraudulent “mortgage loan modification” enterprises, Attorney General Paula T. Dow and the State Division of Consumer Affairs filed administrative actions against seven businesses [...]
Palm Beach, Delray Loan Officers Plead Guilty in $2.5M Mortgage Scheme
(Source: By Toni-Ann Miller Palm Beach Post Staff Writer) – Three of the four loan officers charged in a $2.5 million reverse mortgage and loan modification scheme have plead guilty, a news release from the U.S. Department of Justice said [...]
13 Charged in $60 Million Mortgage Fraud Scheme
(sOURCE: fOX nEWS By Jana Winter) – The FBI has arrested 10 people charged with participating in a $60 million mortgage fraud ring early Thursday morning in the New York area, FoxNews.com has learned.
Lawyer, Businessman Pleads Guilty to Bank Fraud
(Source: Bloomberg Busisnessweek By NOMAAN MERCHANT) – An Arkansas lawyer and businessman admitted Wednesday to staging a Ponzi scheme that netted more than $47 million, a scam one prosecutor called the largest case of fraud in state history.
Real Estate Agent Granted Leave Before Court Appearance
(Source: SMH Glenn Jackson, Greg Prichard) – FOLLOWING a meeting with his employer yesterday, real estate agent Greg Tait, the the latest person to be charged in relation to the NRL betting scandal, was given leave and his profile removed [...]
Shares of Mortgage Insurer PMI Tumble
NEW YORK (Source: MarketWatch By Erik Holm) — Shares of mortgage insurer PMI Group Inc. PMI -52.90% fell by nearly half on Thursday after the company warned it could be forced to stop selling new coverage.
Local Homeowners Find Mortgage Hope
(Source: Mail Tribune By Greg Stiles) – Darrell Potter had one burning question when he and his wife met with a team of mortgage adjustment professionals Wednesday.
Pennsylvania’s Successful Mortgage-Aid Program falls to Budget Axe
(Source: By MATT MCKILLOP Stateline.org) – Five years into a historic downturn in the U.S. housing market, federal and state policy makers have not yet succeeded in turning the tide. The Obama administration’s flagship Home Affordable Modification Program has assisted [...]
U.S. Mortgage Rates Fall to 8-Month Low
(Source: Bloomberg By Ashwin Seshagiri) – U.S. mortgage rates for 30-year loans plunged to the lowest level in more than eight months as the nation’s economic recovery showed signs of faltering.
‘For Sale By Owner’ Founder Sells His Home… Using a Real Estate Broker
(Source: DailyMail Online By David Gardner) – The founder of a website helping people to sell their own homes has found a buyer for his own apartment – with the help of a traditional real estate broker.
Real Estate Bug Continues To Bite Celebrities—Victim? Miley Cyrus
(Source: Business Insider) – Many celebrities are known for purchasing multiple properties across the country from multi-acre estates to condominiums. At any given time it can even become difficult to keep up with the number of properties that each celebrity [...]
Russian Billionaires Buy in U.S. as Mansions Lure Wealth
(Source: Bloomberg By John Gittelsohn and Oshrat Carmiel) – Roustam Tariko, billionaire owner of Russian Standard Bank and Russian Standard Vodka, completed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate on [...]
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