From cnnmoney.com (seen at CR): NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Among the tactics: Challenging the bank's actions, waiting to file...
From the Carlsbad Patch: Four men pleaded guilty in federal court in San Diego to stealing more than $11 million in a loan modification scam that preyed on desperate homeowners trying to save their homes from foreclosure. Gary Michael Bobel, 59 of Carlsbad, Scott...
A reader sent this in: An article in today's Wall Street Journal sounds like the HARP program should be named CRAP, because Fannie/Freddie are holding the line by not allowing HARP refi's on loans over 6% to appease their bond holders, and the Bond rates increased...
Excerpted from this article in ProPublica: For HAMP’s first two years, the government offered very little public detail about its oversight efforts. It was virtually impossible for the public – or even Congress – to know how well the banks and mortgage servicers were...
This attorney is spreading hysteria here - banks don't have keys to your house. If you don't want to be in this predicament, then don't make your house look like it's vacant! Hat tip to daytrip for sending this: Visit msnbc.com for breaking news, world news, and news...
Hat tip to kwaping for sending this along, from the AP: WASHINGTON – The federal government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon. Government regulators also directed...
From HW: Four Republican attorneys general participating in the investigation into mortgage servicing practices wrote a letter to Iowa AG Tom Miller stating that the proposed settlement is too strict. Florida AG Pam Bondi, Texas AG Greg Abbott, Virginia AG Kenneth...
From Businessweek.com: More than one in five borrowers in the U.S. are underwater; collectively the shortfall is about $751 billion. Nationally, homeowners whose mortgages have been modified without a principal reduction are up to twice as likely to re-default as...
From propublica.org: For the past year, we've been digging into the administration's fumbling efforts. We've crunched a lot of numbers along the way, and now we're sharing what we found – including loads of previously unreported data. Using new Treasury Department...
From HW: The relief distressed homeowners get from mortgage modifications is short-lived, with most of the loans falling into distress within a year after hitting the reset button, Standard & Poor's Ratings Services said in a new report Monday. The New York-based...
