Bank Of America Accused Of Neglecting Foreclosures In Non-White Neighborhoods

Bank Of America Accused Of Neglecting Foreclosures In Non-White Neighborhoods

In 2012, a National Fair Housing Alliance survey of bank-owned properties in nine metro areas found that those buildings in predominantly white neighborhoods were more likely to be properly maintained by the bank while those homes in non-white parts of town were often being allowed to fall into disrepair, driving property values down for neighbors and causing public health and safety concerns. Since then, the NFHA has filed a federal discrimination complaint against the bank for what it alleges are violations of the Fair Housing Act. [More]

(David Blackwell)

Bank Of America Caught Refusing Mortgages To Women On Maternity Leave

Compared to $40 billion-plus in penalties, settlements, adjustments, and legal fees Bank of America has already racked up because it flat-out stinks at servicing home loans, a $45,000 payment split between two couples is a molecule in a drop of water in the bucket. But this story, in which BofA decided that pregnant homeowners were too big a risk for mortgage refinancing, is a good reminder of consumers’ rights under the law and of BofA’s general incompetence. [More]

HOA Agrees To Pay $65K For Banning Family From Parking Ambulance In The Driveway

HOA Agrees To Pay $65K For Banning Family From Parking Ambulance In The Driveway

When a Las Vegas family bought an ambulance for their son, it wasn’t so he could go tearing around town in it, woo-wooing the siren all over the neighborhood. No, it was purchased so the family could transport their disabled son to appointments. Despite what would seem like a very valid use of the vehicle, their homeowners association banned the family from parking it in the driveway. [More]

(TheTruthAbout)

Wells Fargo Fails At Getting Federal Mortgage Lawsuit Dismissed

The same day that trial began in the Justice Dept.’s lawsuit against Bank of America, the DOJ had another victory in a similar suit filed last year against Wells Fargo, as the bank failed this morning in its attempt to have the suit dismissed. [More]

(9News)

Feds Unhappy With Denver Housing Authority For Evicting Slain Woman’s Family From Her Home

Federal housing officials are coming out against the decision by the Denver Housing Authority to evict the mother of a woman who was murdered, three days after the slaying. The feds says compassion lies within the scope of the law in this case, and hopes Denver will rethink the eviction. [More]

(TheTruthAbout)

Wells Fargo To Pay $38.5 Million In Response To Claims It Neglected Bank-Owned Homes In Minority Neighborhoods

Add another stack of zeros to the running total of mortgage-meltdown-related cash laid out by banks, as Wells Fargo has agreed to pay a total of $38.5 million to advocacy groups and regulators to resolve complaints that the bank neglected foreclosure properties in predominantly non-white areas. [More]

Feds To Stop Punishing Chase, Bank of America For Sucking At Mortgage Modifications

Feds To Stop Punishing Chase, Bank of America For Sucking At Mortgage Modifications

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]

HUD Accuses Bank Of America Of Discriminating Against Disabled Homebuyers

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

Government Prevents 101-Year-Old Evictee From Moving Back Home

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"

Landlord Refuses To Rent To Single Mother Because There's No Man "To Shovel The Snow"

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

Unemployed Homeowners Will Have Longer Before Facing Foreclosure

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

HUD calls For Lenders To Send Tennessee Flood Victims A Lifeline

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?

FedMod.com: Loan Mod Scammers Advertising On Network TV?

Matt at SteadFastFinances tipped me off to a possible loan-modification scam running ads on network TV.

What Does The Bailout Mean For You?

What Does The Bailout Mean For You?

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"

Don't Fall For Mortgage Infomercials Masquerading As "News Networks"

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.”