As Consumerist was the first to report last Friday, the Philadelphia homeowner who made national news by not only winning a judgment against Wells Fargo, but also scheduling a sheriff’s sale of the bank’s property, was meeting face-to-face with the bank he’d embarrassed so thoroughly. Now he’s confirmed that the two parties had reached an agreement. [More]
mortgage insanity
GMAC Buys Your Mortgage, Tosses It In A Drawer
By 1.14.11
How are things in the mortgage industry today, in what is supposed to be the post-robosigner era? According to source on the ground, reader Chris, it’s not so great. Chris writes that when he and his wife refinanced their house, they knew that GMAC would most likely buy their loan from the mortgage originator. What they couldn’t have predicted was that GMAC would wait around for more than a month before they got around to actually acquiring the mortgage, then call Chris and tell him that he was delinquent on the mortgage that he had already paid. [More]
