Wall Street Journal: The Maddening World of Mortgage Modifications- May 18 2010
Most people who want loan modifications aren't going to get them.
---------
The Niche Report: Pigs, Puppets & People in Peril - May 7, 2009
The Curious Campaign Against Loan Modification Firms.
Statistics show that it is the loan mod firms being attacked by the government and Lenders, despite the fact that they are the ones in the private sector getting results for homeowners.
------------------
Newsday.com: AP Impact - Government Mortgage Partners Sued for Abuses - August 5, 2009
Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure are passing through — and enriching — companies accused of preying on the people they're supposed to help, an Associated Press investigation has found.
The companies, known as mortgage servicers, are middlemen who collect monthly payments from homeowners and funnel the...
------------------
St. Petersburg Times: Florida, U.S. on Track for Record Year of Foreclosures July 16, 2010
Even as foreclosure filings have slowed, the nation's still on track for a record 1 million homeowners to lose their homes this year as banks clear a backlog of problem properties.
----------------
Boston Globe: Lenders Avoid Redoing Loans, Fed Concludes
- Study Cites Lack of Profit in Aiding the Distressed - July 7, 2009
Mortgage lenders don't try to rework most home loans held by borrowers facing foreclosure
------------------
SEC Charges Goldman With Fraud - WSJ.com - April 17, 2010
The SEC charged Goldman Sachs with defrauding investors
--------------
Wall Street Journal -Subprime Resurfaces as Housing-Market Woe- July 9, 2009
While nationwide figures are scarce, a review of thousands of foreclosures in the Atlanta area shows that trusts managing pools of securitized mortgages sold six times as many properties as banks during the six months ended March 31. And homes dumped by subprime bondholders sold for thousands of dollars less on average than bank-owned properties, the data show.
--------------
Real Change News: Bank of America Stalls on Mortgage Help Homeowners Say- April 21, 2010
307 complaints filed with Attorney General. On April 15, RealtyTrac, a company that reports home foreclosure statistics, said that bank repossessions of U.S. homes increased 35 percent between the first quarter of 2010 and 2009 – the biggest quarterly jump, the company said, since it started issuing foreclosure reports in January 2005.
-------------------
The West Virginia Record: Fayatteville Couple sues Citi for Predatory Lending Practices- May 26, 2010
A Fayetteville couple is suing CitiFinancial and CitiMortgage after they claim they engaged in the predatory lending practice of "flipping."
------------
New Evidence on the Foreclosure Crisis, July 3, 2009
What is really behind the mushrooming rate of mortgage foreclosures since 2007? The evidence from a huge national database containing millions of individual loans strongly suggests that the single most important factor is whether the homeowner has negative equity in a house -- that is, the balance of the mortgage is greater than the value of the house. This means that most government policies being discussed to remedy woes in the housing market are misdirected.
---------------
USA Today - Homes can be lost by mistake when banks miscommunicate - May 5th, 2010
Many homeowners say they lost their homes because of a communication breakdown within the banks that led to premature or mistaken foreclosures.
-------------
Housing Watch: Chase Sued by Hamp Rejects-May 6th 2010
Homeowners seeking help reducing their mortgage payments are fed up with banks, and they're not taking it anymore. Borrowers allege that some lenders have been giving temporary "trial" modifications under the Home Affordable Mortgage Program (HAMP), only to later refuse permanent modifications -- leaving the borrowers worse off than they started, and often in foreclosure.
A federal lawsuit in New York City is the latest legal pushback from homeowners, who are saying enough is enough. |