Question: Dear Steve, Did deed in lieu before I realized class action was happening. I deed a did in lieu. I could not afford an attorney, and I was not getting anywhere with the lender on my own. I found out class action was filed against my lender. They foreclosed on many people, and none …
This is up roughly 41% from June last year when foreclosure activity remained at an exceptionally low level due to the pandemic-related moratorium on foreclosures. The Biden administration’s final extension of the moratorium ends on July 31, 2021. (Note: The deadline to request mortgage payment forbearance has also been extended to September 30, 2021.) It …
The Consumer Financial Protection Bureau (CFPB) has announced new rules to assist homeowners to attempt to avoid foreclosure now that the protections against forclosing have phased out. CFPB Acting Director Dave Uejio. “An unchecked wave of foreclosures would drain billions of dollars in wealth from the Black and Hispanic communities hardest hit by the pandemic …
Dear Steve, I’m a 30-year-old married man, 2 children. My wife lost her six-figure-a-year job in real estate. Since then, we have lost two homes to foreclosure, 1 vehicle repossessed, and 15 major credit cards maxed out and not paid for 2 yrs+. Everything is in the collection. We have about $1.2 million in unpaid …
Question: Dear Steve, Back in 2007 we had some investment properties, some we did short sales and one of them went into foreclosure; this one in the state of KS. The foreclosure took place in late 2008 or 2009. We received a letter from an attorney stating that his client may choose to take legal …
Yesterday the Consumer Financial Protection Bureau (CFPB) took action against Residential Credit Solutions, Inc. for blocking consumers’ attempts to save their homes from foreclosure. The mortgage servicer failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they …
Foreclosure activity in the U.S. declined 9.39% from February 2014 to February 2015, with one in every 1,295 housing units in some stage of foreclosure last month. That’s the lowest the national foreclosure rate has been since July 2006, according to RealtyTrac’s monthly report on the foreclosure market. The analysis looks at how many homes …
The Consumer Financial Protection Bureau (CFPB) has issued a comprehensive guide to help troubled mortgage borrowers. The 104 page guide gives step-by-step directions on what you should expect from your mortgage company if you are struggling. You can read the guide here. The guide also clearly lays out the responsibilities of borrowers as well and …
Paul Kiel ProPublica Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part of a multi-state class …
“Dear Steve, I was the owner of a store (15years)and sub contracted a cab as a second job in 2012 i was in a car accident in dec.I broke both legs in the accident and I am still in the rehab facility, Allstate has yet to send any wage loss or chore reimbursement.my house of …