Tag Archives: Foreclosure
Ghosts of botched foreclosures
While state attorneys general and lawyers for five of America’s largest banks basked in the spotlight of their $25 billion federal-state legal settlement over botched mortgage modifications and bungled foreclosures, a troubling report on recent forecl… Continue reading
A mortgage deal & schizoid policy
If you are eager to learn the details on the national mortgage settlement that regulators recently announced, your wait may be over in a few days.
I spoke to Laurence Platt, a lawyer at K&L Gates, who is part of the legal team representing one of f… Continue reading
Sating the hunger for short sales
Expect to see a new wave of short sales in 2012 — if all goes as planned.
The powers that be are on a mission to make short sales more attractive to lenders and borrowers. Fannie Mae and Freddie Mac — which guarantee or own more than half of the outs… Continue reading
Is your mortgage naked?
Lenders can’t foreclose on your home if your mortgage is naked. That’s what the court told Fannie Mae when it sided with a Massachusetts homeowner who was close to being evicted from her home.
Yes, we can foreclose on naked mortgages, Fannie and loan s… Continue reading
The cup-half-full mortgage deal
The $25 billion federal-state legal settlement with five of the nation’s largest banks over improper foreclosure, messed-up mortgage modifications, robosigning shenanigans and other abuses drew mixed responses from industry groups, economists and consu… Continue reading
Mortgage deal questions answered
Since the $25 billion mortgage settlement with five of the nation’s largest banks was announced, borrowers across the nation wonder if or when they will benefit from it.
“This historic settlement will provide immediate relief to homeowners, forcing ban… Continue reading
Slow going on BofA short sales
Bank of America’s cash-for-short-sales pilot program to help Florida homeowners stave off foreclosure has been something of a good news/bad news scenario since its debut last October.
Under the program, Bank of America offered $5,000 to $20,000 to home… Continue reading
Chokeholds on a housing recovery
The housing crisis and resulting drop in home prices has cost $7 trillion in household wealth, according to a statement this month by the Federal Reserve. Despite recent upticks in sales, it’s only projected to get worse unless the increasing supply of… Continue reading
Robosigning deal may help
Federal and state regulators are close to reaching a settlement with some of the nation’s largest lenders over their shady foreclosure practices.
What’s in it for borrowers? About one million borrowers could receive mortgage relief in the form of loan … Continue reading
‘Force-placed’ into foreclosure
Did some of America’s largest banks profit by purchasing high-priced fallback insurance policies on homes facing foreclosure?
That’s what New York’s state financial regulators want to know in an ongoing probe of the loan servicing operations at several… Continue reading