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Illinois AG Sues Countrywide

States’ Countrywide lawsuits shift to federal court

by Moe Bedard

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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Illinois attorney general advises homeowners to review Countrywide loans

by Moe Bedard

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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Countrywide Accused of Selling Defective Loans

by Moe Bedard

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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