The Financial Crisis was Caused by all the Homeowners Who Borrowed Irresponsibly

“The reality is responsible homeowners are not losing their homes; some may lose their houses because of a job loss, and some may chose to walk away, but very few truly responsible homeowners were endangered. The foreclosure crisis was caused by the irresponsible.” ~ Responsible homeowners did not lose their homes in foreclosure Many of … Read more

War Veteran Gets Free Legal Help to Fight Foreclosure

War Veteran Gets Free Legal Help to Fight Foreclosure The NBC 6 Responds team gets a lot of calls from people who need legal help but can’t afford an attorney so we went in search of agencies that provide legal assistance for free. There are a number of non-profit organizations that offer free legal assistance in … Read more

Recovery! Simon, WP Glimcher Each Lose Malls to Foreclosure; Kimco Mall Facing Similar Fate

Simon, WP Glimcher Each Lose Malls to Foreclosure; Kimco Mall Facing Similar Fate While the overall retail property sector appears to be strengthening, a handful of loans for lower-quality shopping centers and malls financed at the height of the previous CRE cycle are coming due now and proving to be a thorn in the side … Read more

New Foreclosure Buyback Program Seeks to Help Families Keep Their Homes

New Foreclosure Buyback Program Seeks to Help Families Keep Their Homes QUEENS — Dozens of families across the city, who were in danger of being foreclosed on may be able to keep their homes thanks to a new program — the first of its kind in the country — in which the city will buy back distressed … Read more

Wells Fargo to Start Robo-Advisery in 2017

Wells Fargo to Start Robo-Advisery in 2017 Robo-advisers typically offer investment advice online with little or no human contact| Wells plans to launch its service in first half of 2017, its chief operating officer said Wednesday ‘When you think about who would use robo-advising more often, you think about the millennials,’ he said Wells Fargo, … Read more

Freddie Mac must face revived lawsuit over subprime exposure

Freddie Mac must face revived lawsuit over subprime exposure (Reuters) – A federal appeals court on Wednesday revived Ohio’s lawsuit accusing Freddie Mac of defrauding the state’s $87.3 billion public pension fund by hiding its exposure to subprime and other risky mortgages prior to the 2007-09 financial crisis. The 6th U.S. Circuit Court of Appeals … Read more

Property Inspections by Servicers: Fraud or Contract? Homebuyers & Citi Argue

Fraud or Contract? Homebuyers & Citi Argue OAKLAND, Calif. (CN) – Lawyers for a group of homeowners clashed with Citibank attorneys at a Tuesday hearing on whether the mortgage loan servicer committed fraud by charging delinquent borrowers unnecessary fees for property inspections. In an order denying the homeowners class certification last year, U.S. District Judge … Read more

N.J. continues to lead in foreclosures as country rebounds

N.J. continues to lead in foreclosures as country rebounds New Jersey continues to lead the country in foreclosures despite a national trend showing many states recovering to pre-recession numbers. Nationwide, properties starting the foreclosure process during the first half of 2016 were down 17 percent from the same time last year, the lowest figures recorded since 2006, according to … Read more