LOS ANGELES Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties to the housing market by early next year, potentially weighing further on home values. June provided the latest evidence of this trend, as the number of U.S. homes entering the foreclosure process for … Continue reading More homes faced foreclosure risk in June

WASHINGTON More than 1.5 million older Americans have lost their homes, and millions more are at risk as the national housing crisis takes its toll on those who are among the least able to weather the storm, an AARP report says. “The Great Recession has been brutal for many older Americans,” said Debra Whitman, AARP’s … Continue reading Foreclosure crisis hits older Americans hard

SAN FRANCISCO (CN) Wells Fargo Bank and J.P. Morgan Chase charge homebuyers who go into default inflated fees and interest rates, customers say in a federal RICO class action. Lead plaintiff Latara Bias claims the defendants, including Chase Home Finance, service almost 20 million mortgage loans, approximately 25 percent of the home loans made in … Continue reading Bias v. Wells Fargo, JPMorgan Chase, et al | Homebuyers Sue in RICO Class Action

Much has been written over the last week about what President Obama calls a landmark foreclosure fraud settlement between 49 Attorneys General and the five largest banks. With the lone exception of the National Association of Consumer Advocates, champions for Middle Class consumers have roundly criticized the agreement as a sweetheart deal for the banks. … Continue reading Foreclosure Fraud by Robo-Signing Lawyers Our Leaders Wish Youd Just Forget About It

BUFFALO, N.Y. A New York law firm that was harshly criticized after pictures surfaced from a company Halloween party where people dressed as homeless has agreed to pay $4 million in a settlement with the state over some of the tens of thousands of foreclosures it filed, attorneys said Thursday. The agreement settles allegations that … Continue reading Firm known for foreclosures and costume party settles

WASHINGTON A federal court has frozen assets at five California companies that are being investigated for trying to scam U.S. homeowners facing foreclosure. The Federal Trade Commission says it has opened an investigation into companies, which charged its customers up to $10,000 for legal advice and forensic audits. Sameer Lakhany and his five Santa Ana, … Continue reading Federal court freezes assets of 5 mortgage firms

Loss of Job or Income due to Economy The loss of income can be a big blow to any family. There are bills to pay, children to send to school and numerous other things that all need money to run. Credit cards are not a solution, but we are. Talk to us and see how … Continue reading We Can HELP if One of the Following Applies:

The number of Nevada homes entering foreclosure in October fell 75%, even as the rate surged elsewhere in the nation, largely because of a state law that gets tough on companies doing the foreclosing. Reporting from Los Angeles and Henderson, Nev. For years, the housing news in Nevada has been unrelentingly bleak: Nearly 3 in … Continue reading New Nevada law spurs big drop in homes entering foreclosure

NEW YORK (AP) Bank of America agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit. The settlement was disclosed in court papers filed late Monday in U.S. District Court in Manhattan and requires the approval of a judge. The class-action lawsuit … Continue reading Bank of America settles mortgage suit for $315 million

Lorraine and Jude Austin, who had battled against foreclosure for two years, were “approved” for $48,113 in federal mortgage assistance, read the letter from the Department of Housing and Urban Development. It cautioned there was no “guarantee” that funding would come through and that final verification was needed. Almost three months later, the Austins still … Continue reading HUD mortgage aid program stumbled from the start