Posted by Michele Newsom on Wednesday, March 16, 2011,
http://www.foreclosuredatabank.com/foreclosures-blog/article/2668/foreclosed-home-and-condominiums-for-sale-procedure-still-in-question
The way lenders process foreclosed homes and condominiums for sale
in the U.S. remains under discussion as attorneys general from various
states reportedly failed to agree on what provis... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
By David McLaughlin October 28, 2010, 8:02 PM EDT(Updates with Bank of America comment in sixth paragraph, modification figures in seventh paragraph.)
Oct. 28 (Bloomberg) -- Bank of America Corp., the
largest U.S. bank by assets, was sued by a Florida borrower who accused
the bank of violating the federal government’s home-loan modification
program to boost its earnings. http://www.businessweek.com/news/2010-10-28/bank-of-america-sued-over-loan-modification-practices.html Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
July 07, 2010 5:01 PM
They're supposed to be helping homeowners, but seem to be hitting roadblocks.
Government programs, introduced by federal lawmakers, to offer loan modifications during the housing crisis.
How it works? The government pays money to the banks, and the banks then lower homeowners' mortgage pay... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
This is another lawyer's site but has some great info and statistics on what has happened and how to go about doing things. Research is key, doing your own is best and this lawyer may not be the one for you. I will have a page on where to go for help with a list of lawyers as well... By now, you may have made your own attempts at loan modification. You
now know what we have known: Despite all the government and media hype,
the voluntary loan modifications are not the silver bullet to the
fore... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Wrongful Bank ForeclosureLoan
modification nightmare stories are coming in droves from consumers
across the country who are complaining about the treatment that they are
allegedly receiving from CitiMortgage. Every day, homeowners are
telling our attorneys about their experiences with CitiMortgage and the
processing, or lack of processing in most cases, of their loan
modification applications.
http://www.so... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Link: http://www.nwlmc.com Bill Black - CMP
Sunday, November 1, 2009 “I have perfect credit and I am not
late on my mortgage but I really need to get a lower payment so if I was
offered a federal home loan modification how will this affect my credit
score?” This is currently one of the most asked questions states
Kathleen Jamal, Operations Manager at the NW Loan Modification Center
in Vancouver, Washi... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
The mortgage crisis has sent millions of homeowners in search of ways to
modify their mortgage obligations. Unfortunately, it has also provided a
breeding ground for companies bilking distressed homeowners for
thousands of dollars in fees for services often available for free.
Worse yet, many scam artists simply disappear after collecting their
upfront fees from homeowners desperate to prevent foreclosure. http://commonlaw.findlaw.com/2009/01/mortgage-loan-modification-scams-on-the-rise.html Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
FTC, State Enforcers Sue Scammers, Warn Others; Announce Education Campaign Designed to Reach Borrowers Directly
The Federal Trade Commission today announced a crackdown on
fraud and deception by mortgage modification and home foreclosure
rescue companies. The FTC is seeking to halt the proliferation of these
mortgage relief scams – which target distressed and vulnerable
consumers who are delinquent or facing foreclosure – through increased
law enforcement, consumer outre... Continue reading ...
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