Bank of America Threatens Foreclosure on 1100 Properties for “Nonpayment” of Current Taxes
Bank of America’s tax letter misses its mark Bank said payments for 1,100 homes were late — before due date A letter sent to hundreds of Bank of America’s mortgage borrowers in Clark County contained news no one wants to hear: Your home could be foreclosed for nonpayment of property taxes. The letter from a … Read more
Chip Parker Responds to Judge J. Thomas McGrady RE Rocket Dockets
“Retired senior judges have little accountability because they do not face re-election like the rest of the judiciary. This is one of the reasons that Florida’s Constitution limits the use of retired judges to “temporary assignments,” but since foreclosure division will remain in place indefinitely, the use of these judges is arguably unconstitutional.” ~ Guest … Read more
Florida – Lenders, Servicers Scramble to Shift Foreclosure Cases to New Firms
Lenders, Servicers Scramble to Shift Foreclosure Cases to New Firms The head of one coverage attorney service has been swamped with requests but says there’s a shortage of qualified attorneys As the one-time largest plaintiffs foreclosure law firm in Florida, the Law Offices of David J. Stern at its peak handled 20 percent of all … Read more
NY Times – Mortgage-Servicing Methods, Exposed in a Court Case
Opening the Bag of Mortgage Tricks By GRETCHEN MORGENSON Published: December 18, 2010 ALL the revelations this year about dubious practices in the mortgage servicing arena — think robo-signers and forged signatures — have rightly raised borrowers’ fears that companies handling their loans may not be operating on the up and up. But borrowers aren’t … Read more
Denied – Lawmakers Reject Legal Aid Money for Troubled Borrowers
Lawmakers Reject Legal Aid Money for Troubled Borrowers U.S. House Republicans on Friday blocked a last-minute effort to allow foreclosure-prevention funds to be directed to legal aid groups, arguing it was an inappropriate use of financial rescue money. Lawmakers failed to pass a bill sponsored by Rep. Marcy Kaptur (D., Ohio) that would allow those … Read more
Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners
Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners by Karen Weise ProPublica The Obama administration has been pushing for banks and investors to cut mortgage balances for homeowners who owe more than their home is worth. But the regulator for the biggest investors of them all — the government-controlled Fannie Mae and Freddie … Read more
FBI FAIL – Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI’s Seeming Blind Eye
Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI’s Seeming Blind Eye Some excerpts from the report… To combat mortgage and foreclosure fraud, we first need to understand the nature of the fraud. There are the small-potato schemes — the loan modification-aid scams, or the scams of fraudsters busting into foreclosed properties and renting them … Read more
Happy Holidays! One Florida County Cancels All Foreclosure Sales?
This comes in from Matt Weidner… HOLY MOSES- WE’VE HIT THE PROMISED LAND!? ONE COUNTY HALTS ALL FORECLOSURES?! I cannot verify the accuracy of this, and given the magnitude of the issue presented, I’m not going to stick my head out to much, but this Order appears to cancel ALL FORECLOSURE SALES IN AT LEAST … Read more
