Thursday, March 31, 2011

Lawsuit Reveals How a Middleman Is Blocking Mortgage Modifications for Homeowners

From our consultations with homeowners we can confirm that these problems are all too common.

Read about it at ProPublica HERE

Wednesday, March 16, 2011

A Test Where the Banks Had the Questions and the Answers

Article at ProPublica on the upcoming 2011 stress tests the banks will be going through.  Read it HERE

Tuesday, March 8, 2011

Mortgage Industry To Face Massive Changes Under Regulators' Plan; Homeowners, Investors Better Protected

Great article by Shahien Nasiripour.  Want to know why getting a loan mod is so difficult? This tidbit from the article is the answer:

Instead of an industry geared towards maximizing the value of a mortgage -- like modifying a home loan so investors lose $0.20 on the dollar rather than the $0.50 they'd lose if it was repossessed -- servicers are instead forcing through foreclosures, racking up fees through prolonged foreclosure proceedings, and effectively disregarding the rights of investors and borrowers in pursuit of their own profit.

Read the whole article  HERE

Friday, March 4, 2011

When Cities struggle, workers punished but bondholders spared

Article by William Alden, its upon Huff Post.
This is the real issue - protect the bond holders, and push austerity on the workers.

Read about it HERE