Posts tagged as:

foreclosure

Cuyahoga County sheriff to bar appraisers from buying foreclosures

by Moe Bedard

CLEVELAND (AP) – The sheriff in Cleveland plans to bar the 36 appraisers working for his office from buying homes that have gone through public foreclosure.

The move by Cuyahoga County Sheriff Bob Reid is meant to avoid any conflict of interest in setting the value of foreclosed homes. The sheriff’s office has overseen nearly 33,000 [...]

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A beautiful white San Diego elephant had fallen into foreclosure.

by Moe Bedard

It doesn’t appear to be the first major project that’s run into trouble for Mendiola. He and another architect, Jess Gonzales, led a development team that built a lavish manor called “Essencia” on La Jolla’s Hillside Drive, listing it in 2006 for $21.5 million.

San Diego Magazine gushed over the six-bedroom, seven-bath, spec house — meaning [...]

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Ohio man losing home and job shoots co-workers then commits suicide

by Moe Bedard

COLUMBUS, Ohio — The man who shot two co-workers inside an Ohio State campus building before committing suicide on Tuesday morning learned last week that he was getting fired.

Nathaniel Brown was already struggling to keep his home from going into foreclosure, 10TV’s Maureen Kocot reported.

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Foreclosed Arizona homeowners get some time to move

by Moe Bedard

PHOENIX (AP) – Some Arizonans whose homes have gone to auction under foreclosure have been told to move the same day their house is sold.
Under Arizona law, owners have five days to vacate the property.

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Florida court ruling show banks may be fined for foreclosure delays

by Moe Bedard

Can Florida banks be held financially accountable for purposely delaying condo bank foreclosure sales? A new South Florida circuit court ruling says yes.
Amid a growing clamor for Florida banks to bear more of the financial burden caused by widespread condo foreclosures, the Miami-Dade Circuit Court case settled last week shows an example of associations turning more

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Hawaii welcomes forelclosure mediation

by Moe Bedard

“My mortgage payment is so high I have tried since last year talking to them lower it and they won’t,” Snook said.
If the bank takes her to court for foreclosure, a test program operating only in the Big Island’s 3rd Circuit Court may help. Judges there are now giving foreclosed owner-occupants notice that they have [...]

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Free foreclosure help in Seattle & Tacoma, Wa. this weekend

by Moe Bedard

Has your income been reduced? Are you falling behind on your mortgage payments? Are your mortgage payments increasing? Do you feel like you were misled when you got your loan and now you can’t afford the payments? Don’t know where to start?
On Saturday, there will be free, foreclosure-prevention workshops in Seattle and Tacoma.

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Four Year Battle to Stop Foreclosure Pays Off

by Moe Bedard

CORTEZ – Frank and Judi Viola’s determination paid off after a four-year struggle to save their home from repossession.
“We didn’t want to leave this house. We love it,” Mr. Viola, 54, said as he and his wife sat at the dining room table of their ranch-style home in Jefferson Twp. “You just have to stick [...]

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Colorado Loan Modification Scams Running Rampant

by Moe Bedard

DENVER – 70-year-old Connie Somerhalder thought she was going to stay in the home she has owned for 25 years. Instead, she just found out she got scammed out of $2500.00 and her home is in foreclosure.
“I’ve been here almost 25 years, then somebody comes along and takes it all away, it hurts,” Connie said.

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Foreclosure Nightmare Mentally Affecting Countless Americans

by Moe Bedard

MERCED — Three weeks ago, a retired telephone company worker named Ethelda Lopez watched as her dream retirement home was auctioned on the lawn outside the county courthouse in downtown Merced.
“When I heard my address, it was so disheartening,” she said. For six months, she had made hundreds of calls to her mortgage company, federal [...]

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Foreclosure Moratorium Extended for Additional 90 Days

by Paul Maciel

Banking company Marshall & Ilsley Corp. said Tuesday it was extending its moratorium on foreclosures by another 90 days.
The moratorium now ends March 31, 2010. The initial moratorium was announced Dec. 18, 2008.
The moratorium applies to owner-occupied residential loans for customers who work to reach a repayment agreement. Loans in all the bank’s markets are [...]

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More Foreclosures Being Cancelled

by Moe Bedard

Foreclosure sales have been canceled at an increasing rate as loan modifications take hold, according to ForeclosureRadar, a Stockton-area data company that monitors California’s distressed housing market.

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Job loss now reflected in foreclosure numbers

by Moe Bedard

One lawyer calls it “Chapter 2″ of the housing crisis: Increasingly, home foreclosures are the result of job loss, not subprime borrowers’ getting slammed by resetting variable-rate mortgages or payments they’d have had trouble making even in a healthy economy.
And, experts said, solutions such as refinancing, stretching out loan terms and reducing interest rates are [...]

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Can the Federal Government really provide HOPE FOR HOMEOWNERS?

by Nathan Fransen Esq.

By Nathan Fransen Esq.
Early on in the foreclosure fiasco we are now knee deep in, the Federal government announced a program that was billed as a proactive measure that would provide needed relief to some 400,000 homeowners. The program basically propped up the Federal Housing Authority by insuring loans that otherwise were not insured or [...]

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Good Housing Bill, But No Bankruptcy Help for You!

by Moe Bedard

Homeowners get more housing help from Washington, but no mortgage bankruptcy assistance. No bankrupcty help for you, to the back of the line!
The U.S. House of Representatives on Tuesday approved the final revisions to yet another housing bill that will offer more incentives for lenders to promote more refinance and loan workout options for more struggling homeowners. [...]

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Can all homeowners get free foreclosure help?

by Moe Bedard

There has been a great deal of negative press regarding paid foreclosure assistance and in particular, loan modifications.
The media has taken the loan modification ball and they are sounding the TV trumpets, mis-informing consumers by the millions, “DON’T PAY FOR LOAN MODIFICATION ASSISTANCE!” “If anyone asks for money to help you avoid foreclosure , run!” 
Personally, I [...]

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Cramdown Safe Harbor Protection for Servicers Under Attack

by Moe Bedard

By Moe Bedard
It seems that Main Street isn’t the only important party angered by safe harbor clauses in the pending cramdown bill, mortgage investors are agitated as well. While Main Street looks at safe harbor clauses as an appeasement to banks to allow cramdowns under extreme circumstances, mortgage investors are also asking themselves…”Hey, wait a [...]

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An Unbalanced Equation

by Moe Bedard

By Moe Bedard
Major banks except Citi have formally cut off all negotiations with the Senate in an effort to limit even further the scope of the cramdown bill. Senators from both sides of the isle have given up hope on further developments as well. Bloomberg’s report on the cramdown bill today seems like the last [...]

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A Political Slight of Hand

by Moe Bedard

By Moe Bedard
While the cramdown bill dies, providing evidence of our representative’s willingness to sell us out, some may say that our representatives have already passed legislation to help Main Street like the foreclosure bill and the Hope for Homeowners plan. Whereas it may seem like these two programs are designed to help us, upon [...]

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Homeowners Says, ” Insiders in the government are on the take for favors to the mega-banks!”

by Moe Bedard

This is an actual comment left on my blog yesterday.
I am having a fascinating experience suing the major banks for:
1) racketeering in the creation and servicing of my mortgage;
2) decreasing my property value
3) diminishing my income
I took on my own industry in the 1960’s for the practice of REDLINING, and have done it again for [...]

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