A BILL To Terminate the Home Affordable Modification Program of the Department of the Treasury
A BILL To Terminate the Home Affordable Modification Program of the Department of the Treasury ~ 4closureFraud.org Tweet
Dexia Holdings v Countrywide: The Scope of the Fraud on the People, on the US Congress, and on the International Community May Begin to Unfold
Dexia Holding v Countrywide and the Sub-prime Crisis – the Scope of the Fraud May Begin to Unfold By Joseph Zernik Los Angeles, January 27 – upon review of the complaint in Dexia Holdings Inc et al v Countrywide Financial Corp et al,[[i]] it appears that the scope of the fraud on the People, on … Read more
NY Times | A Reservist in a New War, Against Foreclosure
Erik Holladay for The New York Times Sgt. James B. Hurley on a bridge near the property he lost to foreclosure while serving with the National Guard in Iraq. While Sgt. James B. Hurley was away at war, he lost a heartbreaking battle at home. In violation of a law intended to protect active … Read more
Daily Finance | Did Bear Stearns Know Its Mortgage Securities Were a House of Cards?
Did Bear Stearns Know Its Mortgage Securities Were a House of Cards? This week, a lawsuit filed against Bank of America detailed the worst mortgage practices at Countrywide — which BofA acquired in 2008. The suit charged that Countrywide had, as a policy, disregarded borrowers’ ability to repay their loans because fraudulently securitizing the mortgages … Read more
Left Behind | Troubled Foreclosed Properties and Servicer Accountability in Chicago
Executive Summary The following report illustrates the relationship between foreclosures and vacant properties in the City of Chicago. It combines data from the City of Chicago on vacant and potentially vacant buildings with data on foreclosure filings, completed foreclosure auctions, and property transfers to better understand the number of vacant properties that have at some … Read more
Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks
Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks by Paul Kiel and Olga Pierce ProPublica, Jan. 27, 2011 With millions of homeowners still struggling to stay in their homes, the Obama administration2019s $75 billion foreclosure prevention program has been weakened, perhaps fatally, by lax oversight and a posture of cooperation2014rather than … Read more
A Frightening Satellite Tour Of America’s Foreclosure Wastelands
RealtyTrac is out with the total foreclosure numbers for 2010. On the whole things are getting worse. 72 percent of major metro areas saw an increase in foreclosure volume. Although some of the worst hit areas in Nevada, California and Florida improved from 2009, the foreclosure rate in these areas remains shockingly high. If not for … Read more
