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My Husband and I Bought a Condo in Los Angeles in 2007 with 100% Financing. (Oh, No!) – Beatrice

Beatrice “Dear Steve, My Husband and I bought a Condo in Los Angeles in March 2007. Terms were 80/20 loans each interest only for first 10 years. We did not put any money down. The value of our Condo has dropped more than 100k (per comparables mainly of short sales in the same building(yes, there … Read more

Countrywide to Pay Big Fine to FTC for Overcharging Homeowners, Fees, and Screwing Borrowers in Bankruptcy

Photo Credit: April Zosia Two Countrywide mortgage servicing companies will pay $108 million to settle Federal Trade Commission charges that they collected excessive fees from cash-strapped borrowers who were struggling to keep their homes. The $108 million represents one of the largest judgments imposed in an FTC case, and the largest mortgage servicing case. It … Read more