SAN DIEGO, Feb. 3, 2012 /PRNewswire via COMTEX/ — Indicating most homeowners awaiting loan modification approval and contemplating short sale or foreclosure are not aware of all consequences with regard to their decision, San Diego short sale realtor Joy Bender has launched a campaign to educate defaulting homeowners on potential tax repercussions. Bender, who currently [...]
The deadline for states to decide whether to join a proposed nationwide foreclosure settlement with banks was delayed to Feb. 6 from Feb. 3, the Iowa Attorney General’s Office said. States were given more time to evaluate the proposal, which may total $25 billion, after at least one asked for a delay, Geoff Greenwood, a [...]
LOS ANGELES — Foreclosure commonly represents the end of a struggle. A borrower can’t pay a mortgage, loses a home and moves on. But Karen Mena, a 38-year-old county worker, never gave up. Mena fought even after her San Bernardino home, Calif., was no longer hers. And she won the three-bedroom house back – at [...]
Tomorrow is the deadline for state attorneys general to sign on to a joint federal and multi-state $25 billion settlement of the robo-mortgage scandal. The settlement will involve Ally Financial Inc. (formerly GMAC), Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co., and Wells Fargo & Co. The details of the proposed settlement [...]
(Reuters) – The regulator for mortgage finance companies Fannie Mae and Freddie Mac said on Wednesday investors could now sign up to pre-qualify to bid on foreclosed properties held by the government-controlled firms. Those investors meeting the qualifications set by the Federal Housing Finance Agency could purchase homes and then convert them into rental units [...]
Jan. 31 (Bloomberg) — States have until Feb. 3 to decide whether to accept a proposed nationwide settlement of a foreclosure probe with banks including JPMorgan Chase & Co. and Citigroup Inc. that may total as much as $25 billion. State and federal officials have been negotiating an agreement with the largest mortgage servicers that [...]
(Source: HUD) – The U.S. Department of Housing and Urban Development today awarded $20 million in technical assistance funding to 12 organizations that will, in turn, help local communities across this country stabilize neighborhoods hard-hit by foreclosure through HUD’s Neighborhood Stabilization Program (NSP). “This assistance can make all the difference for communities struggling against abandonment [...]
(via the Financial Times, written by By Shahien Nasiripour) Once again, the Obama administration is hoping that with a tweak it will be able to rescue a three-year-old foreclosure-prevention programme long dismissed by even the White House’s staunchest allies. Last week, under pressure from Capitol Hill, the US Treasury Department announced it would triple incentive payments [...]
You can listen to this archived coaching call HERE!
Chase is at it again: In a case that suggests the financial crisis far from marked the end of big bank misconduct, JPMorgan Chase is facing a potential class action lawsuit over claims that it manipulated thousands of mortgage documents in order to gain a financial advantage in bankruptcy cases. WOW – what a surprise this [...]
