Archive for truth in lending act

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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 [...]

Popularity: 6% [?]

Predatory Lending Begets Predatory Lending - Only in America

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 [...]

Popularity: 4% [?]

5 Ways Wall Street & Washington Set Us Up for the Crash

Nomi Prins, what are the five ways that Washington and Wall Street has brought us to this crisis?
NOMI PRINS: Well, it’s a historical matter, and basically there’s been a lot of legislation that has weakened the regulation of the housing industry and the lending industry and the trading that takes place with it that Wall [...]

Popularity: 4% [?]

Loan Modification Myths and Facts

There are a lot of myths surrounding lenders and servicers as to what they will and will not do during the loan modification process. 
The confusion and inaccurate data that is propagating the internet and the news is based on ill-informed bloggers or journalists who really have no idea what is going on in the loss mitigation arena. This [...]

Popularity: 21% [?]

How we got into this mortgage mess

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.
Popularity: 3% [?]

Popularity: 3% [?]

Paulson on US Housing Market Before the FDIC on Mortgage Lending

July 8, 2008
hp-1070
Remarks by Secretary Henry M. Paulson, Jr. on U.S. Housing Market before FDIC’s Forum on Mortgage Lending to Low and Moderate Income Households

Washington, DC–Good afternoon. Thank you Chairman Bair for convening this forum, and thanks to all of you for your interest in encouraging responsible lending to low and moderate income households.
Popularity: 3% [...]

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Bring Down the Banks with these Foreclosure Defense Tactics

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!
Popularity: 18% [?]

Popularity: 18% [?]

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, [...]

Popularity: 11% [?]

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 [...]

Popularity: 3% [?]

In 1968, Congress passed Proxmire’s Truth in Lending Act, a major piece of legislation that for the first time required lenders to make the interest rate and total cost of a loan absolutely clear.

By Moe Bedard
Will the Truth in Lending Act be the law that saves the American consumer from foreclosure and financial death? Will attorneys finally get a clue and learn this area of ”mortgage law” and start the massive wave of class action lawsuits that have yet to make noise in our Federal Court system?
The facts are [...]

Popularity: 6% [?]

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

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 [...]

Popularity: 7% [?]

It Pays to Read The Fine Print

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 [...]

Popularity: 1% [?]

The Truth in Lending Act - Let the lawsuits begin!

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 [...]

Popularity: 1% [?]

Safe Loan Modification Service

888-432-6634

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Open Saturdays 9am-3pm

Law Office of Gregory A. Paiva & Associates

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    • I can relate with this couple. I contacted WaMu in a proactive effort to get assistance during a hardship ...
      disillusionedVeteran | 3Sep08 | More
    • Did they change the terms of your loan to an arm? This is too risky
      catan785 | 13Aug08 | More
    • I am in limbo myself. Countrywide offered me a modification however the interest rate would adjust in five years. ...
      catan785 | 13Aug08 | More