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Foreclosure Mavericks: B’klyn Judge Slams Brakes On Another Foreclosure As “Standing-Lacking” Lender Fails To Prove Ownership Of Note, Right To Sue

February 24, 2009

In Brooklyn, New York, the New York Post reports:

Aquila Rose got a $475,000 mortgage from Fremont Investment & Loan for her Flatbush home in January 2007 and made exactly one payment before defaulting. When Fremont started a foreclosure action on [...]

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Foreclosure Offense: Wachovia Hit With Class Action Over Option ARMs; Suit Calls Mortgage A ‘Neutron Bomb That Will Kill All The People But Leave The Houses Standing’

February 23, 2009

In a Federal District Court somewhere in Illinois, The Madison County Record reports:

A class action lawsuit has been filed against three financial corporations, including banking giant Wachovia, alleging Illinois homebuyers were forced into negative amortization after the banks deceived them [...]

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Foreclosure Defense: Fannie, Freddie Foreclosure Suspensions Extended Through March 6

February 16, 2009

The Associated Press reports:

Government-controlled mortgage finance companies Fannie Mae and Freddie Mac said Friday they have immediately suspended all foreclosure sales involving occupied single-family and 2-4 unit properties through March 6, to give troubled borrowers [...]

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