Some Relief For Foreclosure Victims
Recent news stories have mentioned some relief that may be available for homeowners harmed by foreclosure abuses. Some relief for victims of foreclosures $8.5 billion settlement for foreclosure victims
Entries by Scott Lanin
The Foreclosure Backlog
The NY Times has an article about the foreclosure backlog.
Buying A Home After Foreclosure
R.C. and Stacy Davis lost their condominium to foreclosure in 2009, a bad break that seemed destined to keep them from buying another home for many years. Yet on Wednesday — only three years after their foreclosure — the couple signed the papers to buy a four-bedroom house in Livermore. Read the story.
Avoiding Mortgage Relief Scams
The offers seem like answers to the prayers of a struggling homeowner: a promise of legal tactics to forestall foreclosure, reduce mortgage balances and interest rates, or restore credit. But these so-called mass joinder lawsuits being advertised in mailings are fraudulent — sent out by companies purporting to be law firms, according to a consumer […]
Banks Take Longer To Sell Foreclosed Homes
A neighborhood’s chances of recovering quickly from the hung-over U.S. housing market depend not only on how many foreclosed homes it has but also, it seems, on which banks own the properties. Bank of America, for instance, takes almost two months longer on average to sell a foreclosed property than EverBank Financial does, according to […]
Just Another Reason Not To Use So-Called “Consultants” For Loan Modifications
Clifton man is found guilty of using his foreclosure remediation company to defraud vulnerable homeowners A Clifton man who used his consulting business to prey on homeowners facing foreclosure in six states faces up to 95 years in prison after being found guilty of conspiracy to commit mail and wire fraud, U.S. Attorney Preet Bharara […]
ACLU sues Morgan Stanley over risky mortgages
ACLU sues Morgan Stanley over risky mortgages
NY’s Attorney General Sue Chase
The New York attorney general’s office has hit JPMorgan Chase & Co. with a civil lawsuit, alleging that investment bank Bear Stearns — prior to its collapse and subsequent sale to JPMorgan in 2008 — perpetrated massive fraud in deals involving billions in residential mortgage-backed securities. Read more.
To Rent What You Owned
For homeowners who have been buffeted about by the foreclosure process, the suggestion that they willingly hand their deed to the lender and rent the home instead may only add insult to injury. Read more. I wrote a blog post this past March about the Bank of America rental program. I was interviewed by Law […]
Help for the Underemployed
Here is an interesting article in today’s NY Times for homeowners who are looking to cut monthly costs: Help for the Underemployed.