Posts tagged as:

RESPA

I did lose it all. I have no job, no car, no HOME, and no “AMERICAN DREAM!”

by Moe Bedard

Written by Jenzy. A 56 year old American woman, homeowner, and another mother who has lost her American Dream.
I once owned two businesses, and had a nice car and a roof over my head. I lost it all at age 55 yrs. old due to a very deceitful mortgage company. Things were fine in 2004, 2005, [...]

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The FBI Investigates Indymac for Mortgage Fraud – Next Please!

by Moe Bedard

When it rains it pours and when a bank fails, the FBI is going to find out why.

The facts are that the fraud and financial crimes ran rampant from all sides of the mortgage and real estate equation.
From the loan officers, appraisers, Realtors, notary publics, underwriters, account executives, managers, investors, brokerages, borrowers and the list can go [...]

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Predatory Lending Begets Predatory Lending – Only in America

by Moe Bedard

Can’t afford your home or your loan? Heck, just put in on your charge card and forget about it.

Well, at least until your credit card bill comes due next month and now Guido wants his money. One more month with your head above the toxic water and a temporary plug in your foreclosure boat for a few more [...]

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How we got into this mortgage mess

by Moe Bedard

By Paul Kiesel
Over the last 15 years, there have been five “avoidable events” stemming from Wall Street’s or Congress’ actions (or inaction), that led directly to the mortgage crisis.

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Bring Down the Banks with these Foreclosure Defense Tactics

by Moe Bedard

Get your gloves on and start training for the fight of your life because foreclosure defense is going to be no easy battle. Make no bones about it, you are definitely fighting against one of the toughest and most powerful opponents in the world. The banks
Let’s get one thing straight here ladies and gentleman. The [...]

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Fight Your Mortgage Servicer With This Knock Out Punch

by Moe Bedard

The facts are that the mortgage servicing arena is fraught with what I call “mortgage disservice.” Fee gouging and borrower abuse seem to be the typical MO’s of many servicing companies and with our current mortgage and housing crisis in full , this is a perfect opportunity for servicing companies to rake in massive fees [...]

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The CRC Says, “Loan Modifications are Falling Short.” I Say, “Non-Profits are Not Helping Homeowners Correctly!”

by Moe Bedard

Yes, you heard it right and I am going to stand by these comments and this post 110%.
Non-profits serve a great need in helping homeowners work out their loans. But in their attempts to be of service, they are actually performing a disservice to the homeowner. They are missing the most important ingredient in assisting a [...]

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It Pays to Read The Fine Print

by Moe Bedard

Borrowers who have refinanced their mortgages or taken out a home equity loan may be eligible for a refund if they make a claim within three years of taking out the loan. Statutory damages are limited to $2,000, while actual damages are not capped, but borrowers must apply for monetary relief within one year of [...]

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Fighting mortgage disservice

by Moe Bedard

Late-fee profits
Some say one problem is that mortgage servicers make their money from late fees and other penalties charged to borrowers.
“There’s a built-in incentive for the servicing industry to really rip people off,” contends Richard Gaudreau, a Salem attorney who specializes in consumer bankruptcy law. “If they can throw your payment into a suspense account [...]

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The Truth in Lending Act – Let the lawsuits begin!

by Moe Bedard

In the past, no one really sued anyone over their mortgage. Hell, if you had a problem with your loan, you just refinanced right out of the bad loan and into a new one. No harm, no foul. Now, the home loan tides have changed and the tsunami of mortgage lawsuits have begun.
Federal laws like the Truth in Lending Act(TILA), The Home [...]

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Countrywide Named in Foreclosure Probe

by Moe Bedard

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 [...]

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