Since the Treasury Dept. began releasing quarterly report cards on big banks’ efforts to improve their mortgage modification processes, Bank of America and JPMorgan Chase have consistently received subpar marks, leading the feds to withhold a total of $171 million in incentives. That money is now set to be released to BofA and Chase — but not necessarily because they suck any less at mortgage mods. [More]
Feds To Stop Punishing Chase, Bank of America For Sucking At Mortgage Modifications
By March 2, 2012
HUD Accuses Bank Of America Of Discriminating Against Disabled Homebuyers
By February 27, 2012
Just when you thought people had run out of reasons to hate Bank of America, the U.S. Department of Housing and Urban Development pops in to give you a new one. Earlier today, HUD charged BofA of discriminating against homebuyers with disabilities. [More]
Government Prevents 101-Year-Old Evictee From Moving Back Home
By January 23, 2012
Four months ago, a 101-year-old Detroit woman was evicted from her home because her son could no longer afford payments. The U.S. Department of Housing and Urban Development stepped in and said she go back home, but has now reversed course, deeming the residence unfit to live in. [More]
Landlord Refuses To Rent To Single Mother Because There's No Man "To Shovel The Snow"
By September 9, 2011
A Wisconsin landlord has been sued by the US Department of Housing and Urban Development after refusing to rent a property to a single mother. The landlord, who is a woman, said it was because the renter didn’t have a man “to shovel the snow.” [More]
Unemployed Homeowners Will Have Longer Before Facing Foreclosure
By July 7, 2011
If you’re unemployed and worried about losing your home, here’s some news that might make your day a little brighter. The White House announced earlier today that all FHA-approved mortgage servicers must extend the forbearance period for unemployed homeowners, currently four months, to one year. [More]
HUD calls For Lenders To Send Tennessee Flood Victims A Lifeline
By May 11, 2010
Tennesseans homeowners have enough to worry about with the flooding, but the U.S. Department of Housing and Urban Development has stopped worries that victims would drown in the resulting debt. HUD Secretary Shaun Donovan directed lenders to put a 90-day moratorium on foreclosures in flood-ravaged areas. [More]
FedMod.com: Loan Mod Scammers Advertising On Network TV?
By January 14, 2009
Matt at SteadFastFinances tipped me off to a possible loan-modification scam running ads on network TV.
What Does The Bailout Mean For You?
By October 6, 2008
So, Congress finally passed the bailout bill. You know about the Treasury’s newfound $700 billion, and you’ve heard about the snipped golden parachutes, but what does the 451-page week-old shotgun savior of a bill actually mean for you?
Don't Fall For Mortgage Infomercials Masquerading As "News Networks"
By August 12, 2008
Reader Brian says he saw the above pictured infomercial on CNBC this Sunday, and is wondering how they get away with such a “blatant attempt to take advantage of those same mortgage consumers who where hoodwinked in the first place.”
