December 19, 2008
In Hartford, Connecticut, The Hartford Courant reports:
What began with a single mother in Hartford fighting her eviction has led to a policy change by Fannie Mae allowing renters to remain in their homes after their landlords are foreclosed on, a switch that could help thousands of renters across the country.
Legal Aid lawyers in Hartford — [...]
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December 17, 2008
In Hartford, Connecticut, The Hartford Courant reports:
What began with a single mother in Hartford fighting her eviction has led to a policy change by Fannie Mae allowing renters to remain in their homes after their landlords are foreclosed on, a switch that could help thousands of renters across the country.
Legal Aid lawyers in Hartford — [...]
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December 17, 2008
by Adam J. Levitin Associate Professor of Law Georgetown University Law Center
The residential mortgage-related assets that the government is proposing to purchase in
the bailout plan are for the most part not mortgages themselves. Rather, the assets are mortgagebacked securities (MBS). An MBS is a security issued by a trust (SPV) that has been [...]
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December 10, 2008
In Canton, Ohio, The Repository reports:
A city man took his foreclosure dispute to the state’s highest court, and according to a ruling issued today, he won. What that means for Giuseppe Gullotta is that he gets to remain in his house without a mortgage. What it means for homeowners around the state remains to be [...]
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December 10, 2008
The Boston Herald reports:
Massachusetts’ highest court has issued a landmark ruling tentatively declaring whole classes of subprime mortgages unfair under Massachusetts law. “Originating loans with terms that in combination would lead predictably to . . . default and foreclosure (is) within established concepts of unfairness,” state Supreme Judicial Court justices unanimously ruled yesterday. The decision [...]
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December 2, 2008
A Circuit Judge in Key West, Florida has denied a Motion for Summary Judgment for foreclosure filed by the Bank of New York (“BONY”) as “Successor Trustee” to Chase Bank, with the Judge ruling that genuine issues of material fact as to the chain of title to the mortgage which were unresolved precluded [...]
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December 2, 2008
In New York City, Bloomberg News reports:
Countrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors.
The hedge fund claims investors will be harmed by Bank of America’s settlement, reached on behalf [...]
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December 1, 2008
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