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Real Estate Related

Will Proposed Government Programs Really Help Homeowners?

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by Cora Currier ProPublica The Obama administration has recently unveiled a string of proposals to help struggling homeowners and get the housing market back on its feet2014 part of the administration’s “We Can’t Wait” election year to-do list. Of course, the White House has made big promises before about helping homeowners, only to see them disappoint time and again. Here ... Read More »

    Mortgage Relief and Debt Relief Scammers Lose Yacht, Cadillac, and Rolex in Judgment

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    The Federal Trade Commission has just announced some stiff penalties against participants in it’s action against U.S. Mortgage Funding, Debt Remedy Partners,, David Mahler, John Incandela, Jonathan Incandela, and Jamen Lachs. – Source At the request of the Federal Trade Commission, a U.S. district court put the mortgage relief business permanently off limits to marketers who allegedly charged thousands ... Read More »

      Senators Angry About Freddie Mac Betting Against Homeowners

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      by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had made concentrated investments in complex mortgage securities that benefited from the inability ... Read More »

        Mortgage Settlement With Banks Leaves Consumers Still Looking In the Abandoned Windows

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        by Cora Currier ProPublica The Obama administration is billing today’s $25 billion agreement between most states and five banks that engaged in flawed or deceptive practices as a big win for struggling homeowners. Most of the money in the settlement isn’t a penalty, or a fine levied on the banks. Instead, the biggest slice of the settlement will be money ... Read More »

          Federal Housing Finance Agency Just STICKING it to Homeowners

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          by Cora Currier ProPublica, Last week, ProPublica and NPR raised questions about a risky investment strategy at Freddie Mac that would pay off if homeowners stayed trapped in expensive mortgages. It’s just the latest example of how government-owned Freddie Mac and Fannie Mae have frustrated many by not putting homeowners first. Fannie and Freddie are required to help homeowners while ... Read More »

            Fannie Mae and Freddie Mac Just Won’t Help Homeowners. Here’s Why.

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            by Cora Currier ProPublica Earlier this week, ProPublica and NPR detailed how Freddie Mac placed bets against homeowners that paid off if borrowers were unable to refinance their mortgage loans. The story highlighted the conflicted role of the behemoth and now government-controlled Freddie Mac and Fannie Mae: They are at once supposed to maximize their profits and thus pay back ... Read More »

              US Consulting Corp Mortgage Modification – Kevin

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              a company called US Consulting Corp contacted me about modifying my existing outrageous mortage payment. Said that due to the government sponsored HAMP….program they could reduce my payment from $4500 per month to $2583 ant the interest rate from around 5.8% to 3.57%. Stated they would guarnatee it with a return on upfront fees of $3490 if I am not ... Read More »

                Reader Wants to Know More About Gordon and Associates Loan Modification Services

                A reader wrote to me wanting to know more about a company in California called Gordon and Associates. They said, “I am surprised that you don’t have this company’s info or I couldn’t find it.” Attached to the email the reader sent in a copy of the recent BBB listing for Gordon and Associates. I just ran it again to ... Read More »

                  California Lawyer Disbarred Over Loan Modification Business

                  Another sad story of advanced fee loan modifications tearing down yet another group of people. From the California Bar Journal. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? PAUL JEFFREY LUCAS [#163076], 50, of Aliso Viejo was disbarred July 22, 2011, and he was ordered to make restitution and comply with rule 9.20 of the California ... Read More »

                    Kramer, Stein Mass Joinder / Mass Tort Updates for Those Involved

                    The Receiver in the Mass Joinder legal proceeding in California against lawyers that had marketed Mass Joinder suits against mortgage lenders has released an update. December 1, 2011 The State Bar of California has taken possession of the law practices of Kramer and Kaslow, Mitchell J. Stein, Christopher Van Son, Paul Peterson (Mesa Law Group), and Anthony Kassas (Kassas Law ... Read More »

                      Mortgage Loan Modification Sellers Arrested in California

                      The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and California Attorney General Kamala D. Harris announced the arrests of three top officers of a Stockton, California real estate company who took thousands of dollars in up-front loan modification fees and made false promises to lower the mortgage payments of struggling Central Valley homeowners. Magdalena ... Read More »

                        Reporter Helps to Bring Down Steven J. Baum Foreclosure Mill

                        Steven Baum Party

                        Well it’s over. It appears the law firm of Steven J. Baum, P.C. in New York is laying off 89 employees and closing up shop. I doubt you’d recognize the name of the lawyer or the firm but I bet you’ve recognize some of the pictures that were recently published from the office Halloween party in 2010. This pictures sent ... Read More »

                          Corvus Law Group Sends in New Mailer to Share

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                          Corvus Law Group sent in a copy of the new mailer they will be sending out to consumers. In the past Corvus Law Group was criticized by Idaho for the mailer they were previously using. See this story. I applaud Corvus Law Group for reaching out to this site and send in copies of their new mailer to show they’ve ... Read More »

                            Real Estate Law Center / Adlore Clarambeau Mass Joinder Mailer


                            A reader has sent in a Real Estate Law Center mailer they received in Virginia. The mailer appears to be a solicitation to join a mass joinder or mass tort action against the banks for issues related to their mortgages. In this case the mailer from California attorney Adlore Clarambeau (Bar record.) says it is an action against Countrywide Bank ... Read More »

                              Second Wave of Foreclosures Has Begun. Option ARM Mortgages to Explode.

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                              The number of people falling behind on their mortgages increased over the last quarter for the first time since 2009, according to a new report by the credit bureau TransUnion. And while the news surprised many people, it came as no surprise at all to some mortgage experts, who have known for years that a wave of wildly risky mortgages ... Read More »

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