Latest Posts
Home > Debt Articles > Mortgage Related (page 12)

Mortgage Related

A Who’s Who in the Foreclosure Scandal.

Ready to Collapse

by Marian Wang, ProPublica The unfolding foreclosure scandal just keeps expanding. Scrutiny first fell on the “robo-signers” who rubber-stamped banks’ foreclosure paperwork, but they’re one of the many players who may have contributed to the mess.To help sort it all out, we’ve drawn up a cast of characters. Let’s start with the basics: Loan Originators/Mortgage Issuers — Banks make mortgage ... Read More »

    Putting the Foreclosure Paperwork Scandal in Perspective

    Ready to Collapse

    by Marian Wang,ProPublica The scandal over flawed paperwork and sloppy practices by mortgage servicers continues to broaden. The issue is complicated, and “robo-signers” — individuals working for servicers and signing off on thousands of foreclosure documents without much verification — are only part of the picture. So we brought some of our questions about the broader foreclosure process to Geoff ... Read More »

      Florida Debt Relief Scammer Appears Pale in Jail Uniform

      Ready to Collapse

      Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

        Some Arizona Residents Win $154 Million in Mortgage Relief

        Ready to Collapse

        Yesterday Arizona announced a big victory for 8,715 residents in eight states and residents will actually help to reduce the total amount they owe on their mortgages. Here is the official release. Attorney General Terry Goddard yesterday announced a multi-state agreement with Wells Fargo Bank (“Wells Fargo”) over allegedly deceptive marketing of payment option adjustable rate mortgage loans (“POAs”) by ... Read More »

          Mortgage Loan Modification Profiles: In Trial Limbo

          Ready to Collapse

          by Karen Weise ProPublica, Download the audio. Listen to Michael and Concetta talk about the loan mod process. Last fall, Wells Fargo told Michael and Concetta Acevedo that after a three-month trial, they could get a permanent mortgage modification that would allow them to keep their Staten Island townhouse. Instead, 10 months later, the Acevedos are still making trial payments ... Read More »

            American Home Mortgage Servicing Sued by Texas. No Help Facing Foreclosure.

            Ready to Collapse

            Texas Attorney General Greg Abbott today charged Coppell-based American Home Mortgage Servicing Inc. (AHMS) with using illegal debt collection tactics and improperly misleading struggling homeowners. According to state investigators, AHMS collections agents used aggressive and unlawful tactics to collect payments from Texas homeowners who had difficulty meeting their payment obligations. The defendant also failed to credit homeowners who properly submitted ... Read More »

              GAO Takes Closer Look at Home Loan Modification Scams

              The Government Accountability Office (GAO) comprised a report, Homeownership Preservation: Federal Efforts to Combat Foreclosure Rescue Schemes Are Under Way, but Improved Planning Elements Could Enhance Progress, based on “information available to federal and state agencies and nonprofit organizations, such as consumer complaints and the number of enforcement actions.” The report revealed two predominant schemes in this day and age ... Read More »

                Loan Modification Profile: Fed Up, Giving Up, and Moving On

                Ready to Collapse

                by Karen Weise ProPublica, Today, 8:53 a.m. Download the audio. Listen to Wallace Farmer talk about the loan mod process. 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 Chase told Farmer that he made too much for a mortgage modification through the ... Read More »

                  Government Mortgage Modification Programs Still Not Working

                  Ready to Collapse

                  by Paul Kiel ProPublica, Today, 11:33 a.m. Each 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 rundown of the numbers, broken down by each bank or mortgage servicer participating in the program. Have you worked for a servicer ... Read More »

                    Mortgage Loan Modification Companies Labeled Opportunists

                    Ready to Collapse

                    Here is an excerpt from a great piece by Lauren Tara LaCapra for TheStreet.com. The piece is titled Opportunists Pounce Amid Mortgage Mess. Call them savvy entrepreneurs or shady wheelers-and-dealers, but small mortgage-workout shops have sprouted up across the country like wildfire, promising to deliver results in a speedy fashion. They often have names that evoke a mix of strength, ... Read More »

                      Mortgage Loan Modification Problems. Delayed then Denied, Often Mistakenly

                      Ready to Collapse

                      Loan Mod Profiles: Delayed then Denied, Often Mistakenly by Karen Weise ProPublica, Today, 10:09 a.m. Download the audio. Listen to David Moe talk about trying to get a loan mod. Retired pastor David Moe describes the process of trying to get a loan modification — only to be denied after more than a year — as nothing short of “The ... Read More »

                        New York Jumps Ahead With Law Making Mortgage Companies Accountable on Loan Mods

                        Ready to Collapse

                        by Paul Kiel ProPublica, 48 minutes ago New York regulators have crafted new laws to give the state authority to punish mortgage servicers — something the Treasury Department, in administering its struggling mortgage modification program, has so far failed to do. The new rules set clear standards for how servicers must handle homeowners seeking a modification. “We will not hesitate ... Read More »

                          Michigan Goes After 19 Foreclosure Rescue Companies

                          Ready to Collapse

                          Michigan Attorney General Mike Cox recently announced the filing of 19 criminal complaints and a total of 69 charges against illegal advanced fee “foreclosure rescue” operations accused of defrauding Michigan families of thousands of dollars. Nine Michigan mortgage companies are accused of illegally charging homeowners facing foreclosure upfront fees for mortgage modification assistance. The defendants claimed they would help homeowners ... Read More »

                            Indiana Goes After Foreclosure Consultants and Loan Modification Companies

                            Ready to Collapse

                            Infomercials, websites, radio advertisements, and word of mouth are being monitored by Attorney General Greg Zoeller’s Homeowner Protection Unit (HPU) are using to track down foreclosure consultant companies that may be operating illegally in Indiana or have failed to strictly comply with Indiana’s new laws meant to protect consumers. Zoeller today filed lawsuits against three for-profit foreclosure consultant companies claiming ... Read More »

                              Walk Away From Your Mortgage Without Bankruptcy and Prepare to Get Sued

                              Ready to Collapse

                              The L.A. Time ran a story citing that Fannie Mae plans to get tough on homeowners who can afford their mortgages but walk away from them in what is now called a “strategic default.” So tough in fact they plan to sue these homeowners that do that. Fannie Mae also states they plan to limit access to new home loans ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.