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- For those who are defending the "lenders" who have been engaging in illegal conveyences and assignments. It is amazing that today in America it is more shameful to be behind on your bills than it is to perpetrate fraud, deception & othe criminal activ on Fight Your Mortgage Servicer With This Knock Out Punch
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- Ocwen foreclosed on our after taking two payments after stringing us along for three years. Calling India is impossible. I do not believe thery are helping Americans.. Who can I turn to? on President Obama’s Foreclosure Prevention Plan Explained
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- AdviceForum: Stop Foreclosure and Tell Us Your Story Posted By: Davedbutch Post Time: 02-22-2012 at 09:40 PM […]
- Is it Nationstar or Wells Fargo?Forum: Wells Fargo Home Mortgage Posted By: snorklininNY Post Time: 02-22-2012 at 06:05 PM […]
- Short Sale AFTER Sheriff SaleForum: Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Posted By: Trapped No More Post Time: 02-22-2012 at 05:51 PM […]
- What is a letter of administration? What is a recorded final distribution deed? Please help! need advice.Forum: Citi Mortgage Posted By: adamb Post Time: 02-22-2012 at 05:33 PM […]
- BoA is trying to foreclose even after an approved loan modficationForum: Bank of America Home Loans Posted By: lopcas Post Time: 02-22-2012 at 05:20 PM […]
- Interesting......NOT!Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: packfan1957 Post Time: 02-22-2012 at 05:02 PM […]
- missouri forecloser lawForum: Foreclosure Laws Posted By: tilexia Post Time: 02-22-2012 at 04:07 PM […]
- Applying for a mod after bankruptcy...?Forum: Bank of America Home Loans Posted By: MomtoCon Post Time: 02-22-2012 at 02:34 PM […]
- House forclosed and went back to lenderForum: Ask the Attorneys? Posted By: msmarydaniel Post Time: 02-22-2012 at 01:56 PM […]
- Specialized Loan Servicing 2nd mortgage offer me a settlementForum: Debt Settlement Posted By: Angel.R Post Time: 02-22-2012 at 01:54 PM […]
August 2011
Bend Soldier Back Home Amid Foreclosure Furor
BEND, Ore. (Source: By Joe Burns, KTVZ.COM) – It was a bittersweet, even ironic “homecoming” day for Bend resident Tim Collette who’s home is in foreclosure. His son, Aaron, arrived back home on leave from a tour of duty in [...]
Don’t be Fooled by These Five Mortgage Scams
(Source: Fox Business By Polyana da Costa) – The sagging economy and sluggish housing market create the perfect environment for mortgage scams, with desperate homeowners as easy prey for scammers.
State Reaches $125M Settlement with Mortgage Company
(Source: Boston Herald By Donna Goodison) – Some 5,500 Massachusetts homeowners will be eligible for loan modification relief as part of a $125 million settlement announced today that resolves allegations of unfair and discriminatory subprime lending practices by the mortgage [...]
Barofsky Says Banks May Face More Mortgage Litigation
Aug. 10 (Bloomberg) — Neil Barofsky, former special inspector general for the Troubled Asset Relief Program and a Bloomberg Television contributing editor, talks about possible lawsuits facing Goldman Sachs Group Inc. and other U.S. banks over sales of mortgage-backed securities.
After $65 Billion, Fannie and Freddie Want More of Your Money
(Source: New York Post Abby W. Schachter) – The government-backed mortgage finance houses Fannie Mae and Freddie Mac have sucked up $65 billion in taxpayer bailout funds. But it’s not enough. Freddie Mac wants $1.5 billion more and Fannie Mae [...]
Wells Fargo Looks to Leave Behind Wachovia Mortgage Suit
(Source: Forbes) – Wells Fargo announced recently that it reached an agreement with investors in its Wachovia-related lawsuit. [1] The investors had filed the lawsuit claiming that Wachovia had misled them into buying securities during 2006-2008. KPMG, responsible for keeping [...]
Poland Moves to Ease Debts in Swiss Francs
(Source: Wall Street Journal BY MARCIN SOBCZYK IN WARSAW AND GORDON FAIRCLOUGH IN PRAGUE) – Poland enacted a law aimed at easing the burdens of citizens with mortgages and other loans denominated in Swiss francs and other foreign currencies—a sign [...]
Speculator Blamed for Mortgage Mess
(Source: Bloomberg By Leonard Goodman) – In July, following a monthlong trial, a federal jury in Chicago convicted my client, Calvin Townsend, of four counts of bank and mortgage fraud. Later this year, he will probably be sentenced to federal [...]
Short Sales Strong Through 2013
(Source: UPI) – Short sales will remain strong for the next several years as foreclosure inventories timelines grow even longer, according to the chief operating officer of Equator, a premier software platform for default servicers.
High Number of Homes in OC are Distress Sales
(Source: NBS Los Angeles By Vikki Vargas and Olga Spilewsky) – One out of every two homes sold in July in Orange County is a distress sale, which means it’s either a foreclosure or a short sale.
Stay Away From Real Estate Sector: Mavani
(Source : CNBC-TV18) – Stay away from the real estate sector, says Vivek Mavani, Vice President & Senior Portfolio Manager, Brics Securities.
The Ten Housing Markets That Will Collapse This Year
(Source: 24/7 Wall Street) – The real estate market is already in the deepest depression in modern U.S. history. If you think it can’t get any worse, think again. In several cities, the real estate market is about to drop [...]
Mortgage-Bond Selloff Threatens Rebound in U.S. Commercial Property Market
(Source: Bloomberg By Hui-yong Yu, Brian Louis and Sarah Mulholland) – The nascent recovery in U.S. commercial real estate may be cut short as Europe’s debt crisis and Standard & Poor’s credit downgrade of Treasuries send borrowing costs to their [...]
Big Banks Shrinking as S.B.A. Lenders
(Source: New York Times By ROBB MANDELBAUM) – The Small Business Administration’s guaranteed business loan program is back. Nudged by stimulus provisions that reduced fees and increased guarantees, American banks made a record amount of S.B.A.-backed loans in 2010 (measured [...]
Moynihan Tells Staff That BofA on Right Path
NEW YORK, Aug 9 (Source: Reuters By Joseph A. Giannone) – With Bank of America Corp (BAC.N) stock in freefall, Chief Executive Brian Moynihan moved to reassure employees the beleaguered bank was on the right path and could weather the [...]
BofA and Citi Urge Calm in Storm
(Source: Wall Street Journal By DAN FITZPATRICK And SUZANNE KAPNE) – Bank of America Corp. and Citigroup Inc. moved to reassure employees about their financial strength, with both banks emphasizing that they are healthier than they were before the 2008 [...]
Bank of America is Back in an Abyss
(Source: New York Times By ANTONY CURRIE and ROBERT COLE) – Bank of America is leading banks back into the mortgage abyss. The nation’s largest financial institution by assets shed over $16 billion of market value on Monday as its [...]
Banks Continue to Struggle With Housing Fallout, Despite Bailout
(Source: the Washington Post By Brady Dennis and Jia Lynn Yan) – The recent swings in the stock market have hit U.S. banks hard, but falling share prices are only one in a long list of troubles for financial institutions.
Biden Looks to Join N.Y. Protest of Bank of America Settlement
(Source: Delaware Online) – Delaware Attorney General Beau Biden said Tuesday his office is objecting to the proposed settlement between Bank of America and Bank of New York Mellon over mortgage-backed securities stemming from the Countryside acquisition.
Raping US Taxpayers to Bailout Banks Continues
(Source: Howe Street by Mike ‘Mish’ Shedlock) – The Congressional unlimited bankroll guarantee of Fannie Mae at the insistence of the Fed has just cost US taxpayers another huge chunk of money.
Need Answers On Banks? Don’t Bother Asking Auditors
(Source: Forbes) – Bank stocks tanked yesterday, led by blue whale Bank of America (BAC) who suffered a 20% harpoon blow to its stock price. Except for a previous drop in bank stocks in March of 2009, according to the [...]
Swiss Settle Tax Dispute With Germany
(Source: Bloomberg By Klaus Wille and Patrick Donahue) – Switzerland and Germany completed an accord to end a dispute over tax evasion by wealthy Germans holding cross-border accounts with Swiss private banks.
ECB Provides $71 Billion in Credit to Banks
FRANKFURT, Germany (Source: The Sacramento Bee) – The European Central Bank has carried through on its promise to loan unlimited cash to steady a banking system still shaken up by the continent’s debt crisis.
Extreme Turmoil Prompts Shift From Top Central Banks
(Source: Reuters By Paul Carrel) – Extreme market turmoil is forcing a marked shift in central bank policy, pushing the lenders of last resort to go places they would rather not.
New State Law Targets Deceptive Loan Mod Practices
(Source: Komo News By Connie Thompson) – Say goodbye to the bureaucratic bank run around when you’re trying to save your home from foreclosure.
State Files Suit Against Bank of America Unit in Foreclosure Mess
Aug. 06 (Source: By Christine Harvey, The Seattle Times) – Washington state has taken on a subsidiary of Bank of America, charging it with illegally foreclosing on thousands of homeowners in the last three years.
Homeowners Receive False Foreclosure Notes
(Source: Albert Lea Tribune) – Homeowners experiencing troubles with mortgage lenders after their monthly mortgage payments are modified are common in Minnesota.
Real Estate Fraud Is “Bigger Than Ever”
(Source: Miami New Times) – Guilty, guilty: Elroy Phillips, who claims to have evidence proving he is innocent, and the dirty cop he claims set him up should be sitting together in a cell (“Almost Innocent,” Eric Barton, August 4). [...]
Watch Out for Those Peddling Reverse Mortgages
(Source: By Donna Gehrke-White Sun Sentinel) – Last week’s guilty plea from three who admitted to participating in a $2.5 million reverse mortgage fraud scheme should remind seniors to be careful over entering into such a financial agreement that can [...]
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