Back in November, the Consumer Financial Protection Bureau filed a lawsuit against one of the nation’s largest providers of seller-financed homes after it failed to comply with a subpoena to turn over documents related to home foreclosures. This week, a judge upheld the Bureau’s authority to request the documents from Harbour Portfolio Advisors. [More]
housing crisis
Wells Fargo Breached 2010 Mortgage Settlement, Must Work To Provide Homeowner Assistance
By 4.17.15
Some homeowners who were wrongly denied mortgage assistance from Wells Fargo will soon receive the help they needed years ago after a federal judge ruled this week that the bank’s denial of modifications were in breach of a 2010 settlement involving adjustable-payment mortgages. [More]
Millions Of Older Americans Are At Risk For Losing Their Homes
By 7.19.12
Older Americans are struggling to keep their homes across the country, according to a new AARP report, with 1.5 million older homeowners who have already lost their homes and millions more at risk. The housing crisis is having a tough impact on them, and they’re the part of the population who are already among the worst positioned to deal with these problems. [More]
Maine Supreme Court Reverses HSBC Foreclosure On "Untrustworthy" Paperwork
By 5.25.11
Maine’s Supreme Judicial Court has overturned a foreclosure brought by HSBC against a local homeowner, citing affidavits submitted by the bank as “inherently untrustworthy.” In vacating an earlier decision, the court declared that HSBC’s records “are not of the quality that would be admissible at trial.” [More]
80% Of Today's Delinquent Homeowners Will Lose Their Homes
By 2.22.10
If you know 5 people behind on their mortgage payments, 4 of them are going to end up losing their homes, according to a new study released by John Burns Real Estate Consulting. [More]
Report: Loan Modifications To Date Haven't Been That Effective
By 4.4.09
Fewer than half of loan modifications made at the end of last year actually reduced borrowers’ payments by more than 10 percent… [while] nearly one in four loan modifications in the fourth quarter actually resulted in increased monthly payments.
Top 3 Foreclosure Scams To Avoid
By 11.25.08
With so many people facing foreclosure these days, it’s a good idea to educate yourself about the types of scams that take advantage of folks who are having trouble paying their bills. Even if you are doing ok, perhaps you can help someone else by recognizing a scam.
