August 21, 2008
This is a great article about the foreclosure-related mismanagement/abuse relfected in lawsuits being brought against lending giant Countrywide, one of several lenders recently embroiled in controversy. As the saying goes, “the bigger they are…”
NEW YORK (Reuters) - Countrywide Financial Corp, which was the largest U.S. mortgage lender before being acquired by Bank of America Corp [...]
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August 8, 2008
Thanks to Reuters (Washington) for their coverage of this important issue.
The Federal Deposit Insurance Corp has temporarily halted any foreclosures on the $15 billion of bank-owned mortgage loans found in IndyMac’s portfolio, FDIC Chairman Sheila Bair said on Monday.
Bair has scolded mortgage lenders for being too slow to help distressed borrowers restructure their home loans.
“Modified [...]
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August 8, 2008
Back in April, we were receiving many calls from borrowers who either had been sued for foreclosure (in what are known as “judicial” foreclosure states), or where a Trustee’s Sale was in the works (in what are known as “non-judicial” states). The bulk of these calls were from borrowers who intended to represent themselves based [...]
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August 8, 2008
One of the popular catch-phrases being bandied about these days in the context of mortgage foreclosure defense is “my loan has TILA violations.” The acronym TILA refers to the Federal Truth-In-Lending Act, a significant body of Federal consumer protection legislation which provides detailed disclosure requirements which must be made by lenders in certain types of [...]
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August 5, 2008
BEWARE THE “LOST NOTE” OR “LOST MORTGAGE” (DEED OF TRUST, SECURITY DEED, ETC.) POSITION TAKEN BY FORECLOSING PARTY IN SECURITIZED MORTGAGE FORECLOSURE CASES: NOTHING WAS “LOST”, AND TO SO REPRESENT TO THE COURT IS A SERIOUS MATTER AND MAY PROVIDE BORROWERS WITH A REASON TO REQUEST DISMISSAL OF THE FORECLOSURE CASE.
A recurring pattern in mortgage [...]
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