Archive for Countrywide Home Loans Lawsuit
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Bank of America has Agreed to the Nation’s Largest Loan Modification Program of Countrywide Predatory Loans
“Countrywide’s greed turned the American dream into a nightmare for thousands of Californians who now face foreclosure,” said state Attorney General Jerry Brown, who led the negotiations for the states with Lisa Madigan, the Illinois attorney general.
Countrywide was sued by a handful state attorneys general, who alleged that the Calabasas, Calif., company engaged in predatory [...]
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WE ARE NOT DEADBEATS!
Contributed by an American homeowner. A woman, mother and wife who is suffering in what was supposed to be her American dream…………………………………….
From the movie: The Terminator
Kyle Reese: Listen. And understand. That terminator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely [...]
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Are You a Countrywide Home Loans & KB Homes Client?
If you have a mortgage with Countrywide Home Loans and are in a KB home tract where Countrywide was the preferred lender, then please contact me right away.
You may have legal rights that were violated and may be eligible for mortgage relief. Please contact me here and I will contact you ASAP with possible [...]
Popularity: 7% [?]
States’ Countrywide lawsuits shift to federal court
SPRINGFIELD, Ill. (Legal Newsline)-Illinois Attorney General Lisa Madigan says its lawsuit against Countrywide Financial Corp. should not be lumped with others filed by California Attorney General Jerry Brown and San Diego City Attorney Mark Aguirre, as the lender requested.
The Illinois attorney general’s office confirmed on Friday that its legal team will join Aguirre and, presumably [...]
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Judge Rejects Countrywide Settlement
A federal bankruptcy judge has rejected a settlement involving the Countrywide Financial Corporation, the mortgage lender, saying he was not convinced that it was fair to nearly 300 borrowers who claimed to have been hurt by the company’s abusive practices.
The settlement called for Countrywide, acquired by Bank of America last month, to pay $325,000 to [...]
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Countrywide pact challenged by Justice Dept
NEW YORK (Reuters) - The U.S. Justice Department has challenged an agreement that Countrywide Financial Corp reached in a bankruptcy court in Pittsburgh, saying it would make it harder to investigate and sue the mortgage lending giant.
Last month, Countrywide agreed to pay $325,000 to the Chapter 13 bankruptcy trustee in Pittsburgh, Ronda Winnecour, to cover [...]
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CA Attorney General Urged to Seek Injunction Halting Foreclosure on Deceptive Countrywide Mortgages
The California Reinvestment Coalition and the Greenlining Institute today sent an urgent letter to California Attorney General Jerry Brown urging him to take immediate action against Countrywide Financial/Bank of America. The community groups are asking Brown to secure a foreclosure moratorium on mortgages that fit the profile of the deceptive loans and practices cited in [...]
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Testimony Urging Passage of Foreclosure Moratorium Where Financial Institution Fraud Occurred
By Robert Gnaizda
No efforts by the banking industry, by the federal regulators or Secretary of the Treasury Paulson will protect the vast majority of those who live from paycheck-to paycheck from foreclosure. Hope Now’s failures are a classic example of the failure of voluntary action without the threat of effective action via either class action [...]
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Where Are Congress’ Ethics Hearings into Countrywide’s VIP Loans?
Sweetheart mortgages given by Countrywide Financial, the nation’s biggest mortgage lender, to elected officials and government bureaucrats seem tailor-made for an ethics inquiry by Congress, especially as the country is seeing a rising tide of voter anger in this presidential election year due to the massive $300 bn bailout of the housing industry at taxpayers’ [...]
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San Diego City Attorney Sues Countrywide for a “Pattern of Unlawful, Fraudulent or Unfair Predatory Real Estate Lending Practices”
SAN DIEGO — City Attorney Mike Aguirre filed a civil complaint Wednesday against Countrywide Financial Corp. in an attempt to stop foreclosures in San Diego.
Aguirre said the suit targets subprime loans where homeowners face balloon payments after two or three years of the loan. City officials say San Diego saw 22,000 notices of foreclosure last [...]
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IndyMac Begins Dismantling Business As It Struggles to Keep Investors’ Faith
First, Countrywide Financial Corp. went down, as the nation’s biggest mortgage lender was acquired in a rescue operation July 1 by Bank of America Corp. Now Countrywide’s offspring, IndyMac Bancorp Inc., is on the ropes.
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Illinois attorney general advises homeowners to review Countrywide loans
I have been advising homeowners to do this for the past year online and I even started a company (Loan Safe Solutions) to assist attorneys and homeowners in reviewing their loan documents for legal violations.
Now, it appears that the Illinois attorney general feels that it is a great idea to have your current mortgage examined for federal, [...]
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Judge Says Countrywide Officers Must Face Suit by Shareholders
Directors and officers of Countrywide Financial, the beleaguered mortgage lender, must answer shareholder accusations of insider trading and an overall failure to monitor lending practices that led to the company’s collapse, a federal judge in California has ruled.
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Mortgage ruling could shock U.S. banking industry
A lawsuit filed by a Wisconsin couple against their mortgage lender could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when their lenders violate a federal lending disclosure law.
The case began like hundreds of others filed since the U.S. housing boom spawned a rise [...]
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Florida attorney general sues lender Countrywide
Lawsuits”o” plenty are being fired at lending and servicing giant, Countrywide Financial and this is in the wake of the controversial Bank of America take over that is finally official today.
Just last week attorney generals in Illinois and California filed predatory lending lawsuits accusing Countrywide of unfair and deceptive business practices. Now, Florida has jumped on the predatory lending lawsuit [...]
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Brown Sues Countrywide For Mortgage Deception
LOS ANGELES–California Attorney General Edmund G. Brown Jr. today sued Countrywide Financial, its chief executive Angelo Mozilo, and president David Sambol, for engaging in deceptive advertising and unfair competition by pushing homeowners into mass-produced, risky loans for the sole purpose of reselling the mortgages on the secondary market.
“Countrywide exploited the American dream of homeownership and [...]
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Countrywide Accused of Selling Defective Loans
One of my long standing points of view on the mortgage and housing crisis is that, these creative loans that were invented, sold and sliced and diced over the last 3-5 years were incredibly unfair and deceptive. Defective credit instruments that were made to fail and are essentially “lemon loans.”
It looks like the Illinois Attorney [...]
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Mozilo says, “Screw skiing. Let’s go surfing in Florida!”
The Countrywide Crock continues. I am beginning to think this that this is all really a big joke and Mozilo is going to come out April 1st and say “April Fools Day!” Jane Wells from CNBC calls these blog posts “funny business.” I call it downright sickening.
Jane Wells of CNBC:
I’ve been hearing from sources [...]
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Attention Countrywide Insiders - ABC is looking for any information on Angleo Mozilo for a TV Special
Aaron Krowne (co-owner of this and our other foreclosure sites, and ML-Implode.com) and I do whatever we can to help the media because we are the pulse on the internet in regards to the mortgage industry. The work we do daily actually assists mainstream media with insider tips and breaking news for their mortgage and [...]
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Countrywide Sued Over ‘Excessive’ Fees on Defaults
It looks like another Countrywide Home Loans lawsuit has surfaced and will be one of thousands that have and will be filed against the subprime slime giant for their notorious predatory lending practices.
Reuters:
LOS ANGELES (Reuters) - Countrywide Financial Corp (CFC.N: Quote, Profile, Research) charged thousands of borrowers facing foreclosure “excessive, unreasonable” fees and expenses, according to [...]
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A Copy Of Senator Schumer’s Letter to the Federal Home Loan Bank of Atlanta
November 26, 2007
Ronald A. Rosenfeld
Chairman
Federal Housing Finance Board
1625 I Street NW
Washington, DC 20006
Dear Chairman Rosenfeld:
I write to express my serious concern over the lending practices of the Federal Home Loan Bank of Atlanta, specifically in regard to the significant volume of advances made to Countrywide Bank. I am concerned that the loans being pledged by [...]
Popularity: 49% [?]
Countrywide Posts $1.2 Billion Dollar 3rd Quarter Loss
It’s not surprising that the Countrywide Financial Corp. reported today a third-quarter loss of $1.2 billion, or $2.85 a share, down significantly from its year-ago profit of $648 million, or $1.03 a share.
This was the first quarterly loss in 25 years and the subprime lending giant attributed the results in the latest quarter to inventory valuation adjustments [...]
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Countrywide Loves Foreclosing on Homes in California
Another disturbing fact from the Countrywide school of subprime horrors. One that I have not seen in the media and hopefully this will get some attention. I just ran the most recent stats on REO properties in the Countrywide portfolio as of 10/24/2007. I was astounded by the fact that Countrywide has a HUGE number of homes [...]
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Countrywide to Outsource Loss Mitigation Efforts to India
In another stellar business move by Countrywide, Mr. Mozilo announced as an effort to cut cost and increase the bottom line, they will be outsourcing loss mitigation efforts to call centers in India.
I found this in a LA Times article and have yet to verify if this is in fact true. If it is, then [...]
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Countrywide is Ripping Off Their Investors and Foreclosing on Good People
There seems to be so much confusion between Wall Street, the SEC, congress, media, non-profits and homeowners lately in regards to loan workouts and loan modifications. It appears that there is absolutely no clear and concise rule or procedures on how these can be done and who qualifies. It’s as if the formula for approving a loan modification is locked [...]
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Safe Loan Modification Service
888-432-6634
M-F 8am-7pm PST
Open Saturdays 9am-3pm
Law Office of Gregory A. Paiva & Associates
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- JacMac … you are not ignorant … you got caught up in the “shell game” that was being promoted by several lenders to mortgage brokers (354)
- Countrywide's Mozilo Hushes Homeowner With an Unaffordable Loan Modification (208)
- Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court - "They Own Nothing!" (185)
- Talk to Litton to Modify Your Loan Today (164)
- Ex- Countrywide Employee Reveals a Secret Ingredient in Mr. Mozillo's Original Toxic Loan Recipe (158)
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sincitykim - FDIC is handling the workouts for Indymac. You might talk to someone there, they've reported helping over ...
darla | 7Oct08 | More -
Me and my family are one of those middle class families who wishes to keep our home but have not ...
jmitchell39 | 7Oct08 | More -
jmitchell39 | 7Oct08 | More
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