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ShameTheBanks Bloggers
BBB: "F" Grades to Chase, Litton, OcwenLitton Loan Servicing received more consumer complaints than any other loan servicer in the three years through June 2010, according to the Better Business Bureau. The 794 complaints against Goldman Sachs' Litton ... Read more Jorge Newbery |
IndyMac Grants Church a ReprieveIndyMac granted a reprieve this morning to Ministerio El Shaddai, a North Phoenix church, by postponing the foreclosure sale scheduled for this afternoon. This will allow IndyMac additional time to review the ... Read more Jorge Newbery |
Letter to POTUSDear Mr. President: Way back when, seems almost a lifetime ago, I remember you saying something about a moratorium on foreclosures and some new program called Making Home Affordable. A program designed t... Read more Lori Kelly |
Government Tactic: Help the Banks by Lying to HomeownersLast April, when I was at Treasury, I told the Deputy Director of the National Economic Council, Diana Farrell, that the reports treasury was putting up on their web site touting the ... Read more Richard Zombeck |
Church Prays IndyMac Blesses American Homeowner PreservationMinisterio El Shaddai, a Christian church in North Phoenix serving over 100 predominantly Hispanic members, is scheduled for foreclosure sale on August 27. Church leaders are hoping a proposed short sale of ... Read more Jorge Newbery |
Massachusetts Passes Cornerstone Homeowner and Tenant ProtecMassachusetts is once again leading the pack in protecting consumers by passing legislation to protect families from getting thrown out of their homes. "An Act to Stabilize Neighborhoods" has ... Read more Richard Zombeck |
Bankers Bet On Failure of US HomeownersThe more American homeowners lose, the greater some bankers profit. Logic dictates that banks would want to mitigate their losses and resolve troubled loans with borrowers. But the reverse is true for ... Read more Jorge Newbery |
Make that Call to support Dr. Warren! Now!Okay now is the time for all of us to take action. There is a push. A push RIGHT NOW, to press our Senators to lobby the White House to appoint Dr. Elizabeth ... Read more Barbara Caldwell |
Corporate NarcissismI’ve had too many opportunities in my life to experience first-hand the selfishness and downright abusive tendencies of individuals whom I am sure have Narcissistic Personality Disorder (NPD). I have read that ... Read more Barbara Caldwell |
Serving Your Country? Bank of America Wants Your House...AtThe more stories we get from homeowners at shamethebanks.org and the more people I talk to about how they' re losing their homes, the more I start to believe that banks ... Read more Richard Zombeck |
Treasury Used Bogus Info In Report To HomeownersThis article is cross posted in HuffPost According to a recent article in HuffPo by Shahien Nasiripour, "Treasury claims that Fannie Mae, which administers its Home Affordable Modification Program, screwed up. ... Read more Richard Zombeck |
Family Averts Foreclosure & Plants a Cherry BlossomIn the midst of a year-long battle to save their home of 18 years from foreclosure, the Baker family of Windham, Ohio made a pact: if they saved their home, they would ... Read more Jorge Newbery |
When Facts Aren't on Your Side Lie, Like Banks DoCross posted in Huffington Post When you're a bank and the facts aren't on your side, it's apparently perfectly acceptable to just lie. No side-stepping, no spin, no double talk. Just flat out ... Read more Richard Zombeck |
Help Propublica Report on the Mod ProcessHere's an email I received (along with a lot of other people) from Paul Kiel at ProPublica. He's putting together some data on the Modification process. It seems to be focused on ... Read more Richard Zombeck |
Wells Fargo: America Needs Your HelpDear Wells Fargo, America needs your help. As a “too big to fail” bank, we accept that you will survive no matter how many borrowers you foreclose on, how much money you lose ... Read more Jorge Newbery |
Tax Liability of Short SalesMany families contemplating solutions to their housing dilemma are concerned with the tax implications of a short sale, whether a traditional short sale or an American Homeowner Preservation short sale where the ... Read more Jorge Newbery |
U.S. Commercial Real Estate Market Moves on Health
Aging population drives growth in healthcare REITS As growing concerns with vacancy in retail office
Freddie Mac – What is your interest in how long pe
I’m a little out of my league regarding disability rights, but I’m scratching my head at why Freddie
The Devil's Advocate
Perhaps you can look at me as just that; the Devil’s Advocate in as much as this, as one who argues
Life after Foreclosure
It’s going on almost two months now since the home was sold at sheriff sale, well, technically it wasn’t
Scott Brown Has Put the People's Seat Up For Sale
Now that Scott Brown has managed to score the same backroom deals he opposed during his campaign run
Seven Steps to Speedy Short Sales
Pathetic Ocwen lags the pack, averaging 29 months to process a short sale. Their competition is only
It's Not Over
You might have heard Fannie Mae is going to start going after homeowners who strategically default on
Finally Some Hope of HAMP Oversight
Last month I wrote a piece on ShametheBanks and in HuffPost about an amendment sponsored by Sens. Al
You are Not Alone
It is impossible to overstate the importance of websites like www.shamethebanks.org for people who are
Fannie Mae: Get Out of The Way!
In centuries past, if a family was to suffer a misfortune, neighbors would assist anyway they could in
Democrats Throw Life Line to Unemployed in the Mid
While the GOP is putting legislation in place to shove homeowners further underwater, Democrats are scrambling
Is finally getting a mod just a crap shoot?
Sitting here on a Saturday morning looking at my signed permanent HAMP mod documents from Chase. Yes
Bank Of America Mocks HAMP, Snubs Congressman and
Bank of America is making a mockery of the Treasury Department’s Home Affordable Modification Program,
Morals Anyone?
So it seems to me every new article that comes out in regards to strategic defaults these days needs
BOA To Help Homeowners
You might have read the article about Bank of America announcing details to partially forgive debts
Nina Easton, Fortune Blogger, Panders to Rich Frie
Last week, Nina Easton, Fortune Magazine's Washington Bureau Chief, described an apparent traumatic event
Proof, Please
Bank of America is once again trying to convince the public that they are actually doing something to
SEC Charging Main Street for accessing their datab
Finding your sliced and diced mortgage in the SEC database is like looking for a needle in a haystack.
Guardian Group Fund Principal Reduction Program Fa
Guardian Group Fund offered an appealing solution for distressed homeowners who owed more than their
The Rape of Main Street
Another night last night of feeling absolutely worthless and scared to death. Today, with a clearer mind
Ah Yes...A New Sale Date!
Meanwhile, back at the ranch... Our broker has resubmitted our loan mod paperwork to IndyMac/OneWest.
Crucial Help for Homeowners Could Never See the Li
Senator Al Franken (D-Minnesota), who in my opinion should be wearing a cape to work every day, introduced
Obsolete Servicer Policy Hampers Family
Struggling to stay in their home of 18-years, a Windham, Ohio family is desperately trying to solve their
Demand Your NPV Values! Criminal Penalties for Ser
The Treasury Department is insisting that servicers receiving HAMP incentive payments sign an affadavit
Real Stories
Brian B. - Grand Junction, ColoradoI am not naive, but somehow I did think that "Making Housing Affordable" was really what this was all about. When a prior representative at Chase told me in December that their job was not to give people "A Good Deal" the light went on and I figured out that at least in the minds of the employees of Chase ... Read more |
Porter & Sandra Johnson - Clovis, CAApril 21, 2009 Judge Aldolfo Corona delayed the case until May 12, 2009 pending my notification of all Defendents listed on the lawsuits. Attorney Ed Treder advise the Judge that he was not familiar with the case after the Judge asked him who owns Mr. and Mrs. Johnson Note. He stated that U.S. Bank owns our ... Read more |
Miriam B. -New York, NYThey told me a new card would arrive withing 5-7 business days. Until then, I'm stuck using my credit card and paying them interest, and this morning, unless I want to wait in the long lines at the bank for a temporary card. My account has been charged $25 for the reissue of a new card that I ... Read more |
Angie Burke - Reading, PAFar too many families are being tossed to the streets and others are being torn apart. I was fully unprepared for the duration and insanity this process can bring. I do so hope that the big bankers and Wall Street executives are held to the fire. Our taxpayer dollars have gone into reviving them, so where is the payback? When ... Read more |
Elsa Spraiter - Neptune Beach, FLAfter 6 months of jumping through the Wells Fargo hoops, I was notified that I qualified for their 3-month moratorium on monthly payments. The representative stated that this was a necessary step in the process. After confirming that I would not be responsible for any extra accumulated interest, I agreed. A Wells Fargo representative proposed that ... Read more |
Anthony Hernandez - Ashland, OregonMeanwhile, Robyn (my ex) got laid off from her teaching position and had to move to California. I moved back into the house in July, and my father donated time and money to help me fix up the house… because by then, the loan mod company told us we qualified for a loan mod and that ... Read more |
Renee H - Magalia, CABank of America shame on you! Since you took over my loan from the failed Taylor Bean & Whitaker my life has been in loan mod hell. Even though you tell us that you are here to help I honestly think that all you have done is stall, lose paper work and as of yesterday I was informed ... Read more |
Dee M - Fort Myers, FLI purchased my house in Fort Myers, FL in March 2004. In December 2005 I lost my job. I was not able to find employment in my career area in the location and needed to relocate to Minneapolis, MN in June 2006. We put the house up for sale and my family soon joined me in August 2006. By January 2007, ... Read more |
Maureen C. Rehoboth, MASO, I send, resend, resend again, fax, refax, etc. the necessary documents for this modification to take place. Tom Holdstein (Chase) guaranteed me I'd be "wrapped into a nice HAMP within the next few months. Don't worry." Next, I receive a forbearance plan from Chase - their own "in-house modification" because "that's the way we do ... Read more |
Kathy McGraw - Lancaster, CAIn December of 2008 I missed my first mortgage payment on my Option ARM loan because it had increased due to the addition of an escrow account to cover the property taxes. True enough, I hadn't paid my property taxes, but that was because my husband had lost his job the previous January and my home business wasn't doing very well. ... Read more |
Brittany Hansen - TennesseeMy birthday was last Friday and when I got home from work there was a letter in the mail from an attorney's office saying that Chase had retained them to begin the Foreclosure process. Happy Birthday to me! Ha! The next day we received Certified letters addressed to both myself and my husband stating that ... Read more |
Roni W. - El Cajon, CAToday I sit here reading your site and crying the tears of all who have gone through this Hell. I am not sure what is happening with our loan. I really am only $1600 short on my payments but it is listed on the website for $7300 which is supposed to be interest and late fees. Our ... Read more |
Melanie Breech - Ocean View, DelawareI have no assistant that will write this letter for me, I get no bonuses at my job and I have to mow my own yard every darn week, What a bummer this is let me tell you I am NO farm girl that’s for sure. I feel as if I am getting nowhere fast, really the ... Read more |
Chris R - MichiganI worried myself sick that evening so I decided the only way to find out what was going on was to call them the next morning. Initially, I believe that perhaps they were dropping of cards in everyone’s door but it was not the case. The individual I spoke with told me that my home had been on a list ... Read more |
Cynthia M.- Austin, TexasRemember the phone call in regard to that little escrow problem I mentioned earlier? The call in which I found I had been dropped from HAMP. Not included in the modification is an escrow shortfall I owe to Wells Fargo, due to a screw up on their end. In the modification paperwork I was required to sign, it states:"Upon completion ... Read more |
Shawn and Jeff Mosch - Bloomington, MinnesotaI know that the whole deal sounded weird from the get go, but we said if the check clears then what the heck, who cares how this guy wants to pay for it. And that is why I made sure I said that I needed to know when the check would be cleared and we would be ... Read more |
Katerina S. - Los Angeles, CA
I sent another e-mail to Mr. Lowman and never got any response. Chase actions in our case is a complete
Catherine and Brian D. - Paso Robles, CA
The most recent episode in this nightmare occurred in December, 2009, when I called to make our regular
Carla G. - Miami, FL
When I read the published Fannie Mae guidelines, I see that all the reasons BAC has given me to not provide
Sheryl McCool - Mandeville, LA
I have cried for five days straight and do not know where to go from here. I have caught up all my
Stephanie S - Woodstown, NJ
Great that I have found another website to vent my ongoing frustration with WELLS FARGO BANK.Today marks
Cindy Parkinson-Faya - Stevensville MD
My position was when it states that they will not proceed when the loan is in REVIEW and Bank of
Steve F, Redding, CA
After this fiasco of 6 months of submitting information over and over again, I started researching mortgages,
Barbara S - St Petersburg, Florida
After reading all the horror stories on forums about "trial mods" and then being denied a permanent
Diane P, Chandler, AZ
Today I received a "Forebearance Agreement" demanding that I pay them "past due " payments or they will
Suzanne P. - Florida
I've been trying to get a home modification for 6 months. I've had to send them the same papers 3 times.
Glenn and Ann H - Akron, Ohio
Chase has called our cell phone 8 times since April 12, 2010. The Chase calls are NOT from our Executive
Lisa L. - Bonifay, Florida
I have yet to see the details, I dont trust them as far as I can throw them. There has been certified
John M. Miles Hamptonville NC
I get a call from BoA and guess what.... They need all of the info once again. They inform me that they
Elizabeth Howarth - Newbury Park, CA
Welcome to the water stained living room ceiling,the exposed pipes out back from a plumbers hammer.the
Laura Crown - Pointn, IN
This is about the the fiftieth time I have typed and told this story. I have had a Chase credit card
Lauraine Y. - Brockton Ma
In March of 2009 I lost a second job that I had which made it inpossible for me to keep up with the
Diane H. - Reading, PA
I started having problems making my mortgage payments to Wells Fargo back in Feb, 2009 due to having
Cathy P. - Jacksonville, TX
Not only is my home listed for saleon 5/4/10-yea, that's tomorrow- I also lost my job of 25 years this
Tammy Cothran, Navarre, FL
We have suffered enough personally, physically, financially, and mentally. But I will keep fighting
Diane Casella - Florida
There really are no words to describe the anguish I feel when I think of the pain this has caused my
Bill & Dottie Kile - Waleska, GA
There are hundreds of stories on the internet describing Green Tree’s ruthless collection tactics.
Catherine Drake - CA
I will never forget the incredible feeling the day we got the keys with the bottom line message I gave
Sharon S.- Harding, PA
So upon that note, we signed the agreement. We did what is going to be feasible to us NOW, not in 2034.
John Dupuis - Dickinson, TX
After hurricane Ike, Wells Fargo delayed the start and completion of and created additional stress to
Bryan Downie - Moreno Valley, CA
Bank of America sent me an overnight packet of documents to fill out and return for the Making Home Affordable
Jackie - NJ
My story started back in April 2009, when my boyfriend and I lived together for a number of years, he
Dave H - San Diego, CA - Letter to Wells Fargo
Today, January 12, I received notice from Wells Fargo that our request for modification was denied -all
Eloisa - Corona, California
I was relieved not to have been evicted and thought my problem was over. Not even a week after this
William E. S. - WI
We have two little boys at home, and this is destroying our family. If it wasn't for them, my wife
Tabitha - Lexington, ky
In June 2009, after 8 months of unemployment, I tried to get a making home affordable loan. My lender
J.A. - Martinsburg, WV
I followed up with GMAC weekly, only to be advised they never received any of my offers or documentation
Matt Seufert - San Diego CA
Well, I'm sure that I'm not the only one who's mentioned this but it requires repeating. After 2 attempts
John M. - LA
I am the first person in my family to own a home, ever. Buying a home, even in the heyday of easy
Sarah Guillotte,Orlando, Florida
We tried so hard to make this sale happen with absolutely no help from our lender. At one point, December
Aimee - Ypsilanti, Michigan
Four and a half years ago I bought my house with an ARM that would begin to adjust after 5 years.
Brenda Reed, Oakland, California
Chase is foreclosing on the widow of an American war hero I am a Vietnam War widow dealing with Chase/WAMU.
Dee Moulds - Fort Myers, FL
In August 2007, we were served foreclosure papers. We were scheduled to go to court in February 2008.
Hal W - WA
In October 2009, I filed a mountain of requested financial paperwork with my mortgage lender, Bank of
Lee Prusik Wilmette, Il
This is the last straw. We don't even want the house-- too much pain and suffering-- but I refuse to
Michael L. - PA
I applied for HAMP and after 9 months of trial payments, I was denied as the "investors" would lose
Jenny McCusker Randleman NC
Familys with children with my employer are now paying $480.00 a month in healthcare. Seems there is no
Rob Harrington - Niceville FL
My name is Rob Harrington. I will swear by oath and attest that my 3 years of (almost) daily research and
C.Stewart - League City, TX
Of course we were scared and we signed it. Holly said it didn't matter, that there is nothing they would
Barbara Caldwell - Northern CA
“Hey Mom, why don’t we buy a house?” Those were the words spoken by my then 24 year old son as
Kathleen Burt - Ft Lauderdale, FL
Then we discovered that none of what we'd learned at the Embassy Suites was true, at least not for us.
Cara H., Decatur, GA
In 2005, when I was 24, I bought a 1,300 sq ft home in Southeast Atlanta for $170,000 – a reasonable
Leman, Morgan Hill, CA
They said "no, we want you to pay off the entire credit card balance now and if we see any money coming
Lori K - Texas
In March, when I realized we could not afford my monthly mortgage payment, I proactively contacted BOA
Lester D. - Compton, CA
We heard nothing from CitiMortgage until two days before Christmas 2009, when they UPS us a pcket that
Brigitte Edmonds - Aurora, CO
Well I guess I can say that at least I was able to live the American Dream for awhile. This was my first
Sandra Meekins - Florida
First mistake we ever made was going 15 years on our mortgage when we refied. I started calling in April
Nick I - Mesa, AZ
The uncertainty can kill you. I'd say that's an exaggeration, but judging by what I see around me,
Susan E- Old Bridge, N.J.
I began the mortgage modification process a year ago with CitiMortgage. At first, the third party they
Troy and Becky A - Rincon GA
We are very frustrated, hard working Americans that thought we may have some hope with Obamas Home Modification.
Peter - MA
they claim my taxes have gone up. i have check with the town read my tax bill and as far as i can see
Michelle C Magnolia, Delaware
I tried to pay the $4500 owed so we could resume payments. We have 3 small children I do not want to
Judy Lopez - Phoenix,AZ
I guess I should just be late in payments, let it go into foreclosure and maybe they would help me?
Abigail Anderson, Las Vegas, NV
I bought my condo in 2007 before the market plummeted. I also have an ARM and the plan was to refinance
Wendy D. - Visalia, California
Eleven years and 6 pets later, here I am, peeking around my curtain as a lady from the bank takes pictures
Martha W. - Avalon NJ
Keisha Hackney phoned looking for payment. She told me I was denied due to “the equity” and that
Latest News
Housing on the BrinkThere was a glimmer of hope in housing data this week. Pending sales — signed contracts between buyers and sellers — rose in July, by 5.2 percent, beating expectations of ... Read more |
 Banks Playing 'Foreclosure Roulette' With Delinquent HomeownersBea Garwood has been bracing for foreclosure since May, but she says she's been told three times to expect a sheriff's sale in the next month and it still hasn't ... Read more |
 Profiled Homeowner Gets a Mortgage ModificationWells Fargo finally gave a loan modification to a long frustrated homeowner—after we profiled her last week. Suzanna Wertheim of California, the first in our series of profiled homeowners [1], spent over ... Read more |
 For Gov’t Mortgage Mod Program, New Numbers Show Old ProblemsEach month, the Treasury Department releases new information about how homeowners in its mortgage modification program are faring. And each month, the numbers get bleaker. Take a look at our graphical ... Read more |
Loan Mod Profiles: Fed Up, Giving Up
On a recent Friday morning, Wallace Farmer packed up and moved out of his Baltimore row house. After over a year of confusion and delays, JPMorgan
Loan Mod Profiles: In Trial Limbo
Last fall, Wells Fargo told Michael and Concetta Acevedo that after a three-month trial, they could get a permanent mortgage modification that would
They Go or Obama Goes
By Robert Scheer Barack Obama and the Democrats he led to a stunning victory two years ago are going down hard in the face of an economic crisis that
Banks’ Self-Dealing Super-Charged Financial Crisis
Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history. Faced
Number Of Underwater Mortgages Falls, Thanks To Foreclosures
LOS ANGELES -- Foreclosures are helping to thin the ranks of U.S. homes with mortgages that exceed what the properties are worth, new data shows. Real
Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach - Mand
This is getting interesting. A judge in U.S. District Court, Southern District of California, has issued an order that may just answer a few prayers
Banks Increasingly Forced To Buy Back Bad Mortgages
That is the predicament now confronting the mortgage industry, where it has become clear that many billions of dollars in home loans were sold, guaranteed
Class action suit filed in New York against "foreclosure mill" attorneys and banks
New York-based attorney Susan Chana Lask has filed a federal class action complaint on behalf of tens of thousands of New York State homeowners who lost
Obama Housing Program Slowing To A Crawl While Homeowners Suffer
More than 18 months after President Barack Obama announced a $75 billion program to help three to four million homeowners avoid foreclosure, the administration's
Obama Administration Defends Lackluster Foreclosure Programs
Policymakers will likely keep mortgage rates low for the next several years because it's the best and cheapest way to heal the housing market, a senior
Ellen Brown Homeowners' Rebellion: Could 62 Million Homes Be Foreclosure-Proof?
Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry.
Seven Reasons Not to Buy a Home
This article is going to be a contradiction. After the fall that housing has suffered, I think that that, as an asset class, housing will probably be a
Treasury Department Holds All-Star Conference To Discuss Ailing Lenders
The call from business for less government has a notable exception: the mortgage market. The Obama administration invited banking executives Tuesday to
Banking Execs: Government Needs To Keeping Propping Up The Housing Market
The Obama administration invited banking executives Tuesday to offer advice on changing the government's role in the mortgage market. Their response:
'Vultures' Save Troubled Homeowners
Anna and Charlie Reynolds of St. George, Utah, were worried about losing their home to foreclosure last year. Then they got a lucky break—from an unlikely
Bank of America CEO defends loan modification
TAMPA - It's been a rough two years for Bank of America. It acquired Merrill Lynch, only to discover it had lost $15 billion in a single quarter. It
Rentals harder to find, afford
The region’s rental market has tightened in recent months, with apartment vacancies falling and rents rising for the first time since the beginning
Manhattan Luxury Condos Try FHA Backing in `Game Changer'
Whitney Gollinger, marketing chief for a Manhattan condo building with an outdoor movie theater and panoramic city views, is highlighting a different amenity
In This Play, One Role Is Enough
He is worth getting to know, not only because of his deep concern about the foreclosure epidemic, but also because he has made a compelling recommendation
'Robin Hood-Like' Scheme Disguised Customers' Debt
It's not every day that a man can perpetrate bank fraud and look like a hero. But that's exactly what's happened to Jeffrey Gonsiewski, a banker who pled
July Foreclosure Rate: Homes Lost Up 6 Percent From Last Year
The number of U.S. homes lost to foreclosure surged in July, another sign lenders are moving quicker to take back properties from homeowners behind in
Merrill’s Risk Disclosure Dodges Are Unearthed
It was named after a faint constellation in the southern sky: Pyxis, the Mariner’s Compass. But it helped to steer the mighty Merrill Lynch toward
July Foreclosure Rate: Homes Lost Up 6 Percent From Last Year
The number of U.S. homes lost to foreclosure surged in July, another sign lenders are moving quicker to take back properties from homeowners behind in
Home Equity Loans: Borrowers Refuse To Pay Billions
During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now
Jingle Mail for Me But Not For Thee - Hyatt Defaults
I’m sure we’re going to see all kinds of politicians on the teevee and the op-ed pages soon attacking their “character”: If you’re in Princeton,
Fannie Mae: Home Prices To Decline Into Next Year
Home prices will decline into next year, Fannie Mae said Thursday, reversing earlier projections that the housing market would stabilize this year. Former
Consultant: Federal Aid Program Failing Homeowners
A Fannie Mae consultant says she was fired after revealing that the troubled financial institution was hindering — not helping — homeowners in trouble.
Higher Government Mortgage Fees Approved By Senate
WASHINGTON — Higher monthly fees are coming for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source
EXCLUSIVE: Fannie and Freddie's Foreclosure Barons
LATE ONE NIGHT IN February 2009, Ariane Ice sat poring over records on the website of Florida's Palm Beach County. She'd been at it for weeks, forsaking
EXTEND AND PRETEND: The Obama Administration's Failed Foreclosure Program
President Barack Obama's signature plan to combat the housing crisis has fallen short of its goals -- rather than significantly and permanently reducing
Superman Saves Family From Foreclosure
It sounds like the stuff of superhero stories: a family on the brink of foreclosure saved their home when they found a rare copy of Superman's debut
The crisis of middle-class America
Technically speaking, Mark Freeman should count himself among the luckiest people on the planet. The 52-year-old lives with his family on a tree-lined
The New Credit-Card Tricks
Whomever President Barack Obama taps to head the new Bureau of Consumer Financial Protection could find it difficult to keep ahead of the credit-card
Henry Paulson: Fannie, Freddie Should Become Like 'Public Utilities'
The financial reform bill enacted last week is a significant step toward a much-needed modernization of our regulatory structure. It will provide tools
Troubles ahead for world economy
KERRY O'BRIEN, PRESENTER: The election campaign is being conducted in a budget framework based on the Australian economy returning to strong growth.
In Financial Regulation Bill, Increased Transparency for Loan Mod Program
Buried in the massive financial regulation overhaul [1] that President Barack Obama signed today, two provisions force the Treasury Department to increase
Loan Mod Backlogs Continue Despite Servicers’ Pledges to Improve
Two months ago, representatives of banks and other mortgage servicers participating in the administration's mortgage modification program [1] visited the
Mortgage fraud accusers promise hundreds more cases
Officials at an organization representing homeowners battling their mortgage lenders say hundreds more people in the tri-county area will join additional
HAMP Report Revised After Analysts Question New Metric
The Obama administration has revised its latest monthly report on its signature foreclosure-prevention plan, deleting a heavily-criticized performance
Wall Street Refused To Stop Shady Practices In Order To Keep Profits Flowing
“WHAT did they know, and when did they know it?” Those are questions investigators invariably ask when trying to determine who’s responsible for
Foreclosed without notice: How a court order could be violating homeowners’ due process
Chicagoan Rich Gregory figured it was only a matter of time before he'd hear from his bank after falling behind on his second mortgage. But when he was
When Denying Loan Mods, Loan Servicers Often Wrongly Blame Investors
Arthur and Alberta Bailey are about to lose their home near New Orleans, and their mortgage company says one thing stands in the way of relief: The
MERS “Common Thread” to hundreds of Mortgage Fraud lawsuits planned in MI
Officials at an organization representing homeowners battling their mortgage lenders say hundreds more people in the tri-county area will join additional
Wall St. Refused To Stop Shady Practices In Order To Keep Profits Flowing
“WHAT did they know, and when did they know it?” Those are questions investigators invariably ask when trying to determine who’s responsible for
AIG Failure Would Have Meant Big Losses For Goldman Sachs, Documents Show
Since the United States government stepped in to rescue the American International Group in the fall of 2008, Goldman Sachs has maintained that it would
The new consumer agency: What's in it for you
There is little debate that the financial reform bill President Barack Obama signed on Wednesday includes the most ambitious consumer-friendly initiative
Is Bank of America Hiding an Insolvency Problem From The Public?
The cool thing about owning a company like MFI-Miami is that I get to chat on and off the record with a lot of media types with the inside scoop on what
Sputtering Obama Foreclosure Program May Threaten Recovery
The number of new homeowners entering the Obama administration's signature foreclosure-prevention effort dropped 35 percent to a one-year low in June,
Why Won’t Lenders Renegotiate Delinquent Home Loans?
Remember the Obama Administration’s “Making Home Affordable Plan”? The one that promised to help millions of financially strapped Americans who
Holding Bankers’ Feet to the Fire
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington
Banks Seek to Keep Profits as New Oversight Rules Loom
The ink is not even dry on the new rules for Wall Street, and already, the bankers are a step ahead of everyone else. In ways large and small, the broad
When checking fees replace overdraft fees
The NYT has a look at the new sources of revenue that banks are turning to now that the financial reform bill has killed off (or will kill off) many of
Well, Would You Look At That… Homeowners Scared the Heck Out of Fannie Mae
A few weeks ago, Fannie Mae issued an outright threat to homeowners in this country, creating a new rule that would punish anyone who stops paying their
Obama Admin Praises Elizabeth Warren But States 'There Are Other Candidates As Well' To Lead CFPB
Top Obama administration officials rushed to praise leading consumer advocate and bailout watchdog Elizabeth Warren on Friday as being "exceptionally
Tim Geithner Opposes Nominating Elizabeth Warren To Lead Consumer Protection Agency
Treasury Secretary Timothy Geithner has expressed opposition to the possible nomination of Elizabeth Warren to head the Consumer Financial Protection
'Stealth Bankers Bomb As Anti-Reform Crusaders'
July 15 (Bloomberg) -- If you thought herding cats was tough, try herding bankers. Last week Bloomberg News reported that the American Bankers Association
Strategic Defaulters as the New Welfare Queens
A well placed Washington contact wrote: I was in a discussion with the staff at one of the Federal agencies involved in housing to ask them about the
1 MILLION Americans Expected To Lose Homes In 2010
LOS ANGELES — Rosalyn Dalebout rents out space in her home to three tenants, has cut off her phone service and canceled her earthquake and life insurance
Elizabeth Warren To Head Consumer Protection Bureau?
Once President Obama signs Wall Street reform into law, the battle will move off the front pages, but it'll be far from over. Who the president picks
60-Year-Old Couple Lose Their Jobs And Home
In 2008, David LaRochelle and his wife, Debbie, owned two houses: a single-family home in Southern Florida and a double-wide mobile home in Plains, Georgia,
Bank Accused Of Lying About Lost Paperwork
In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration's
We're in a Recession Because the Rich Are Raking in an Absurd Portion of the Wealth
Wall Street's banditry was the proximate cause of the Great Recession, not its underlying cause. Even if the Street is better controlled in the future
Biggest Defaulters on Mortgages Are the Rich
The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper
Powerful Private Equity Firm Sued Over 'Reckless' Mortgage Fund
The world's second-biggest private-equity firm was sued this week over its "reckless and grossly negligent" management of a failed mortgage bond affiliate
