WASHINGTON –Four Florida men were arrested this past week on charges that they defrauded homeowners in Massachusetts and elsewhere in connection with a home loan modification scam,announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division,U.S. Attorney Carmen M. Ortiz for the District of Massachusetts and Christy Romero,[...]
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 | Yesterday,four fair housing organizations released their findings of a year-long undercover investigation of 80 loan modification companies,which reveal an industry rife with corrupt practices. The National Fair Housing Alliance,the Connecticut Fair Housing Center,Housing Opportunities Made Equal of Virginia,Inc.,and the Miami Valley Fair Housing Center issued a report entitled,“Have [...] Dennis Norman The U.S. Department of the Treasury and the Department of Housing and Urban Development today released their “October 2010 Scorecard”on the “Obama Administration’s Efforts to Stabilize the Housing Market”. The scorecard points out the success of “The President’s housing market recovery efforts”but does point out that “data in the scorecard [...] Dennis Norman Earlier this week the Treasury Department released it’s eight “Tranche”report updating the status of the TARP (Troubled Asset Relief Program) which includes the Home Affordable Modification Programthat I have written about on several occasions. The report shows that progress is being made with regard to loan modifications with $27.07 billion,of [...] To alleviate some suffering by homeowners,the Obama Administration introduced the “Making Homes Affordable”plan last March. Unfortunately,the plan has not yet had the intended effect. Article by the Grand Law Firm Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we [...] Dennis Norman Included in the “Making Home Affordable” program from the Obama administration is the “Home Affordable Modification Plan”(HAMP) designed to help 3 to 4 million home owners by modifying their existing loans to help them be more affordable. Last week,Michael S. Barr,the Assistant Secretary for Financial Institutions,testified before a [...] Dennis Norman A surge in litigation tied to real estate appraisals,loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits,according to the second quarter Mortgage Litigation Report from MortgageDaily.com. During the second quarter,125 cases were tracked,jumping from an already active 81 first quarter cases. The second quarter of 2008 [...] Wells Fargo recently announced that,in the first half of 2009,through lower rates,refinances and modifications,it alone has helped nearly one million American homeowners lower their mortgage payments or restructure their mortgages. Included in the loan modifications were: Approximately 750,000 loans refinanced using the Home Affordable Refinance Program (HARP) More than 200,000 modifications [...] Dennis Norman By:Dennis Norman Today Freddie Mac posted a new video on You Tube that shows borrowers that cannot afford their current mortgage payments how to properly approach their lender to see if they qualify for a loan modification under the Making Home Affordable Program,or under one of Freddie Mac’s other workout programs. [...] Dennis Norman By:Dennis Norman Today the Office of the Comptroller of the Currency (OCC) and the Office of the Thrift Supervision (OTS) released their mortgage metrics report for 1st quarter 2009. The report covers the performance of 34 million home loans in the US. The report shows that delinquencies and foreclosures continue to [...] By:Dennis Norman
The Office of the Comptroller of the Currency and the Office of Thrift Supervision issed a report on mortgage performance which showed an increase in delinquencies,foreclosures in process,and other actions leading to home forfeiture but offered a little ray of light with a drop in “newly initiated”foreclosures by [...] | ||||
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