News about properties and real estate
The Obama administration’s program to help struggling borrowers keep their homes is being hurt by the same miscommunication, botched documents and other snafus that caused the original foreclosure crisis. After J.P. Morgan Chase & Co. agreed in January to her trial loan modification under the Home Affordable Modification Program, Stephanie Lulko made six $767-a-month mortgage …
Continue reading “Latest Foreclosure Crisis Is the Modifications”
The expanding investigation into Florida’s foreclosure crisis has turned up a new problem that may involve a number of cases: Individuals hired by law firms to notify struggling homeowners when their foreclosure cases are to be heard in court may have filed faulty or false documents. Foreclosure defense attorneys and consumer advocates say they have …
A man involved in a mortgage scheme first uncovered in a Tampa Tribune investigation four years ago has agreed to plead guilty to federal charges of conspiracy to commit wire, mail and bank fraud. Chad Evans’ Clearwater companies, Shorefront Ventures LLC and Tye Funding LLC, were used to lure "straw buyers" to participate in fraudulent …
Continue reading “Man will plead guilty in multi-million dollar mortgage scheme”
Title insurer tightens reins on lenders The country’s largest title insurer said that banks and other lenders must vouch for the accuracy of their mortgage documents before the firm will write insurance for a foreclosure sale. Fidelity National Financial announced the policy change — the strongest move yet by a title insurer to protect itself …
Mortgage Damage Spreads The unfolding foreclosure-processing debacle is causing bank stocks to slide and putting millions of delinquent borrowers in limbo. But how disruptive the crisis ultimately becomes—for homeowners, the housing market and the broader economy—depends on how quickly a number of technical problems and legal challenges are resolved in the months ahead. In essence, …
From a Maine House, a National Foreclosure Freeze The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. In the driveway is a busted pickup truck. No one who lives there is going anywhere anytime soon. Nicolle …
Continue reading “From a Maine House, a National Foreclosure Freeze”