The Best, Most Revealing Reporting on the Foreclosure Crisis

The Best, Most Revealing Reporting on the Foreclosure Crisis

by Blair Hickman ProPublica

Answers to homeowners’ questions about the Independent Foreclosure Review.The administration’s website for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program.A list of HUD-approved housing counseling agencies nationwide.Tips for homeowners from the Federal Trade Commission.These rules lay out how mortgage servicers are supposed to conduct the program.A finance and economics blog that provides news and metrics on the state of the housing market.

The housing crisis in the U.S. has now been going on nearly five years, with still regular revelations about misdeeds by banks and others. Here’s our round up of standout reporting on the crisis.

Lucrative fees may deter efforts to alter loans, New York Times, July 2009

Banks and other mortgage servicers have made big bucks on the fees associated with delinquent loans, due to rules one Federal Reserve Bank of Boston paper called a “perverse incentive to foreclose rather than modify.” This piece surveys the homeowners caught in purgatory 2013 and why the servicers seemed to want to keep them there.

Fannie and Freddie’s foreclosure barons, Mother Jones, August 2010

One of the first stories to shed light on a “foreclosure mill.” A Florida law firm tore through cases as quickly as possible, while frequently signing off on dodgy documents. The firm has since been shut down.

Grave errors as undead rework loans, Wall Street Journal, July 2010

Homeowner Sarah Larson, a 33-year-old acupuncturist, tried to get a break on her $1,055-a-month mortgage from Bank of America. The bank requested three important documents: bank statements, a utility bill and her death certificate. She replied: “I am not sending a death certificate because I am not deceased. I am currently still living.”

Mortgage mess: shredding the dream, Businessweek, October 2010 How banks’ carelessness and underinvestment in backend infrastructure contributed to paperwork errors and lost promissory notes that many argue worsened the housing crisis.

Ties to insurers could land mortgage servicers in more trouble, American Banker, November 2010

Here’s another way that mortgage servicers have profited off of struggling homeowners: by forcing them to pay for expensive and unnecessary insurance policies.

The next housing shock, 60 Minutes, April 2011

This piece investigates the prevalence of “robo-signing,” focusing on one company where a number of employees signed one woman’s name to thousands of documents because her name was short. None of the major banks agreed to talk to 60 Minutes.

Obama’s efforts to aid homeowners, boost housing market fall far short of goals, Washington Post, October 2011

This in-depth, inside look shows the internal debate behind the Obama administration’s stumbling efforts to deal with the worst housing crisis since the Great Depression.

Raging against the foreclosure machine, iWatch News, The Center for Public Integrity, January 2012

From the beginning of the foreclosure mess, struggling homeowners often defaulted due to accounting and paperwork errors by the mortgage servicing industry. Servicers claimed they’d addressed the systemic problem. But his piece shows, the “veterans of the foreclosure wars” tell a very different story.

A mortgage tornado warning, unheeded, New York Times, February 2012

Years before the crisis, a wealthy Florida businessman, who had lost his home in a questionable foreclosure, unearthed and compiled a “dossier of improprieties” on Fannie Mae. In retrospect, it looks like a blueprint for today’s crisis 2013 and raises several questions about how deep, and how far back, our mortgage problems go.

We at ProPublica have also long been digging into the administration’s stumbling efforts and how Wall Street machinations ultimately super-charged the crisis.

If you have other great foreclosure reporting, email us at MuckReads@ProPublica.org or tweet it with the hashtag #muckreads.

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4closureFraud.org

Comments
One Response to “The Best, Most Revealing Reporting on the Foreclosure Crisis”
  1. MARGETTA LANGLOIS PRO.SE says:

    g.r.p. loans l.l.c. Never was a LIC. ‘ENTITY” NOR LEGAL entity in fla.TO FORECLOSE ON ME 7/14/09

    but “CORRUPT” JUDGES AIDED & ABETTED ‘FRAUD,” “FORGERIES” & W/ “NO” OWNERSHIP IN

    FLA. HAS “NO”JURISDICTION OVER MY HOME. BUT I LOST MY HOME 7/14/09 I AM STILL FIGHTING MY CASE

    “NO” ATTY.’S WON’T TOUCH THESE CASES

    PASCO COUNTY SHERIFF’S DEPT SAID “NO” FRAUD,

    (50 STATES IT’S “FRAUD” )BUT (“NONE” IN PASCO COUNTY, FLA. AIN’T THAT SOME “SHIT”….!!!!

    THE CORRUPTION STINKS AS MUCH AS AN OVERFLOWING SEPTIC TANK…

    IT’S DISGUSTING BUT THE JUDGES ARE THE ONES BREAKING THE LAWS !!!!

    “DIRTY” BASTARD “JUDGES. NEED “J-A-I-L” WHERE IS THE JUSTICE???? NOT IN PASCO COUNTY

    CIRCUIT COURT FLA.

    YOU GIVE THE JUDGES EVID, FROM TALLAHASSE, FLA. W/ “GOLD” SEAL “NO” SUCH ENTITY IN FLA.

    FLA. COURTS HAVE “NO JURISDICTION….CASE SHOULD BE THROWN OUT

    I GOT ^ APPEALS MY APPEALS ARE 2D11-6547 TO 2D11-6552

    “NO ” APPELLEES “NO” ONE’S ANSWERED BACK…

    WHAT JUDGE DOES NEXT TRY TO CLOSE THE CAASE OUT WHILE AAPPEALS RE OPEN W/ “NO”

    JURISDICTION….THEN “DIRTY” JUDGE

    PLACES A “STOP” FILING PAPERS ORDER AGINST YOU TO ALLOW A

    NO.# 5 “FRAUD” CO. TO COME ALONG & “CLOSE” CASE….

    IN LAKELAND APPEALS COURT FLA. HAS “NO” JURISDICTION, I A WAITING FOR MY RULINGS

    ON ALL “6″ APPEALS ;

    ME VS. CURRENTLY UNKNOWN APPELLEES AIN’T THAT SOME SHIT….

    NOW 2 MORE ATTY.’S HAVE DROPPED OFF (2) CASES NOW A TOTAL OF 8+ ATTY.’S I OUT

    SUCEEDED, “5″ FRAUD CO .’S ALLOWED BY 2 ‘CROOKED’ JUDGES….

    TUESDAY 2/21/12 @ 4 P.M. I WILL SHOW UP W/ MY COURT REPORTERS AS USUAL CATCH THESE

    BASTARDS ON RECORD FOR ANOTHER “FRAUD” :HEARING NO.# 13 HEARING W/ “NO.” # 5 FRAUD CO.

    NOT A “LEGAL” SUCESSOR TO NO.# 1 CO.DUE TO NO.# 1 CO. NEVER EXISTED IN FLA.

    I’VE BEEN CHASING A “PURPLE” ELEPHANT.3 1/2 YRS.

    I AM ELIGIBLE TO A “FREE” ATTY. BUT NONE AVILABLE FOR ME HOW CONVIENANT…

    “NO” ATTY.’S FOR MY SERIOUS CASES….THE ATTY. I HIRED TOOK $ 1100. & NEVER SIGNED ON MY

    CASES BUT IT’S NOT “FRAUD”.ACCCORDING TO FLA BAR
    ………….
    NO, WE KNOW IT’S GRAND LARCENY & GRAND THEFT YOU TAKE MONEY FOR REPRESENTATION &

    THEY DON’T SIGN ON YOUR CASE &/OR CASES RETURN THE MONIES, & PAPERS (NEITHER) I GOT

    I KNOW JUDGE TOLD HIM “BACK-OFF” MY CASES…

    NULL & VOID THE JUDGEMENT, SALE/ AUCTION, & FORECLOSURE..

    CO.’S ARE GONE & THEY DON’T OWN THE NOTE WHAT CAN THEY DO. ? THEN WE GET “FREE” CRIMINAL

    ATTY.’S & THE “TRUTH” COMES OUT.JUDGE’S ARE BREAKIN THE LAWS…..

    GIVE US OUR OWN “MONEY” PRINTING MACHINES & WE’LL ALL BE HAAPPY….

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