Archive for foreclosure
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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 [...]
Popularity: 25% [?]
HALT Task Force Publishes Progress Report on Subprime Mortgage Crisis
NEW YORK, NY (05/11/2008; 1102)(readMedia)– Superintendent of Banks, Richard H. Neiman, today delivered a report to update Governor David A. Paterson on the progress made by the Governor’s Task Force to Halt Abusive Lending Transactions (HALT). The HALT Task Force is an interagency task force established in March 2007 to address the mortgage crisis and [...]
Popularity: 1% [?]
Foreclosure crisis hits hard in black communities
The mortgage-foreclosure crisis cuts across all races and incomes, but it has an even more profound impact on the black community, where homeownership is lower and home equity serves as the main source of wealth in black families.
Subprime lending has been a mechanism for African-Americans to become homeowners. This was one way for African-Americans to [...]
Popularity: 1% [?]
Countrywide Sells Home for $1
CNBC
Psst, looking for a cheap place to live? Just how cheap can you buy a home for in some of America’s biggest cities?
Check out Countrywide’s [CFC 5.798 0.018 (+0.31%) ] cnbc_quoteComponent_init_getData(”CFC”,”WSODQ_COMPONENT_CFC_ID0EUE15839609″,”WSODQ”,”true”,”ID0EUE15839609″,”off”,”false”); website of homes they have for sale: http://www.countrywide.com/purchase/f_reo.asp
On that site, you can find homes as low as:
–$1 [...]
Popularity: 1% [?]
Renters can’t escape housing foreclosure crisis
On a chilly night after work last November, Christopher and Jenell Chow relaxed, watching the evening news while their children scampered around their rented two-story stucco home. Someone knocked at the door.
An officer was standing on the doorstep, eviction papers in hand. That’s when the Chows learned that the North Las Vegas home they’d rented [...]
Popularity: 1% [?]
The Fed’s Krozner Wants Loan Modifications Streamlined
Federal Reserve Board Governor Randall Kroszner said on Monday, ” With the continuing high rates of foreclosure and the high costs associated with foreclosures, it is in the interest of lenders, investors, and borrowers to develop prudent loan modification programs to help borrowers on a larger scale and at sustainable levels.
Efforts to streamline or standardize [...]
Popularity: 1% [?]
FHA to Handle Foreclosure Crisis
It looks like the brunt of the foreclosure problems in our country will rest on the shoulder of the Federal Housing Administration - FHA.
All the key players in the housing and mortgage crisis plus the democratic presidential candidates have all agreed that there will be no new agency created to deal with the national foreclosure crisis.
House financial [...]
Popularity: 1% [?]
A Big Week on the Foreclosure Front With Congress
Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to homeowners facing foreclosure.
Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee, has proposed the creation of a federal corporation, funded with as much as $20 billion, to buy distressed mortgages and help struggling homeowners refinance into affordable loans.
The federal Office [...]
Popularity: 1% [?]
Mortgaging the future - Foreclosure plans highlight key difference between Obama, Clinton
Clinton has a stunningly simple solution, as stated in one of her TV ads: “freeze foreclosures” for 90 days and “freeze rates on adjustable mortgages.” Those are a perfect answer, assuming this is the question: How can the government reward irresponsibility, discourage mortgage lending and increasing the cost of financing a home?
After all, it’s easy [...]
Popularity: 1% [?]
Get FREE Help in the Inland Empire, CA. with Your Loan Modification or Foreclosure
The Loan Safe Advocacy Group in association with the Law Offices of Marshall E. Rosesnbach and the media is proud to announce that we are now offering for a limited time FREE help to 10 lucky homeowners that are facing mortgage issues or foreclosure in the Inland Empire of California.
The only catch is that in [...]
Popularity: 1% [?]
Foreclosure Hall of Shame - Clark County Nevada & Riverside California
Clark County, Nevada and Riverside, California are leading the pack of counties in the country with the most foreclosures per zip code. This foreclosure contest will not put these counties in the hall of fame. But rather the “Foreclosure Hall of Shame.”
CNNMoney had just came out with the “Foreclosures: 100 worst hit zip codes” and I [...]
Popularity: 1% [?]
Foreclosure Prevention and Neighborhood Preservation - Secretary for Domestic Finance Robert K. Steel Testimony
January 31, 2008 US Treasury Press Room
HP-792Washington -Chairman Dodd, Ranking Member Shelby, Members of the Committee, good morning, I very much appreciate the opportunity to appear before you today to present the Treasury Department’s perspective on “Foreclosure Prevention and Neighborhood Preservation.” These are important and challenging issues; addressing them will require collaborative work on all [...]
Popularity: 1% [?]
Lenders sued for rushing through foreclosure process
Minneapolis Legal Aid attorney Amber Hawkins said in nearly half the cases the entity identified as the agent in the foreclosure was a Virginia-based company called MERS, Mortgage Electronic Registration System, Incorporated.
MERS, Hawkins said, did not hold the mortgages on the foreclosed homes.
MERS was created by the country’s largest mortgage lenders including Chase, Citigroup, Countrywide, [...]
Popularity: 30% [?]
Hillary Calls For Quick Action To Stop The Foreclosure Of The American Dream
Outlines Visions For Tackling America’s Immediate And Long-Term Economic Challenges
Just days before the State of the Union Address, Hillary Clinton urged the current administration to take immediate action to jumpstart the ailing economy. She outlined the solutions that can be taken now to fix the mortgage crisis and get more money in the pockets of [...]
Popularity: 26% [?]
Emotionally foreclosure is a terrible experience for people
By JacMac - Single Mother & Homeowner From New York
Emotionally foreclosure is a terrible experience for people. There will be divorces, people will lose jobs, et cetera purely because of the emotional stress they’ll be under. Depression is a serious possibility for most. Depression is a clinical disorder. People cannot function when they’re depressed. Loss [...]
Popularity: 1% [?]
In 99 percent of the residential foreclosure cases, plaintiffs are asking the court to accept a promissory note copy as the original because it is presumed lost
If car dealers can keep track of titles, banks can track promissory notes, Joseph Lents says.
Somebody has been trying to foreclose on Joseph Lents’ Boca Raton home for five years. So far, they have been unsuccessful because he has legally fought them every step of the way.
The original lender, or the assignee, seems unable to [...]
Popularity: 4% [?]
Richard Davet - Can someone please help me locate Mr. Davet in Ohio?
I had wrote a story a few days back about a homeowner in Ohio that fought his foreclosure for 11 years. His name is Mr. Richard Davet. The story was titled Ohio Homeowner Fights Foreclosure and Lives Payment Free for 11 Years.
Basic info on Mr. Davet;
After spending much of the year living at the homes [...]
Popularity: 26% [?]
Judge: Mediate foreclosures
The Cincinnati Enquirer reported
BATAVIA – A judge plans to launch a mediation program to reduce the number of foreclosures on houses in Clermont County.
Even residents who own their homes outright or don’t have trouble making mortgage payments have a stake in resolving the escalating problem, said Judge Robert P. Ringland of Common Pleas Court.
Because of [...]
Popularity: 1% [?]
Foreclosure Warfare - “It is troubling that the plaintiff has filed this case before it had any interest in it”
By Moe Bedard & Aaron Krowne
“It is troubling that the plaintiff has filed this case before it had any interest in it,” Hamilton County Common Pleas Judge Steven E. Martin said in a letter to Wells Fargo’s lawyer.
The judge said the foreclosure lawsuit was filed before Wells Fargo owned the mortgage - thus, the suit [...]
Popularity: 1% [?]
Maryland Court Of Appeals is asked to decide a case that experts say could have a widespread impact on how some foreclosures in the state are handled.
The Maryland Court Of Appeals is has been asked to decide on a case that experts say could have a widespread impact on how some foreclosures in that state are handled.
A Howard County man, Atta Poku, claims his house was stolen from him.
I couldn’t believe my eyes when I read this article and why this homeowner thought [...]
Popularity: 1% [?]
Countrywide Named in Foreclosure Probe
Welcome to the new unfortunate fleecing of the homeowner that is infiltrating our court systems and robbing unsuspecting borrowers that are oblivious to these “questionable” fees as they face foreclosure and are caught in a system that seems to be failing to protect consumers.
They call it questionable fees, I like to call it predatory servicing.
CNN reported yesterday that;
Countrywide [...]
Popularity: 45% [?]
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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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Did they change the terms of your loan to an arm? This is too risky
catan785 | 13Aug08 | More -
catan785 | 13Aug08 | More -
How about also arresting this Countrywide employee, Cheaters Among Us, Sue Barry, http://reno.broowaha.com/article.php?id=3415.Sue Barry has been a loan officer and ...
Edward | 13Aug08 | More
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