Real Stories From Real People Tell Us Yours
ShameTheBanks Bloggers
BBB: "F" Grades to Chase, Litton, OcwenLitton Loan Servicing received more consumer complaints than any other loan servicer in the three years through June 2010, according to the Better Business Bureau. The 794 complaints against Goldman Sachs' Litton ... Read more Jorge Newbery |
IndyMac Grants Church a ReprieveIndyMac granted a reprieve this morning to Ministerio El Shaddai, a North Phoenix church, by postponing the foreclosure sale scheduled for this afternoon. This will allow IndyMac additional time to review the ... Read more Jorge Newbery |
Letter to POTUSDear Mr. President: Way back when, seems almost a lifetime ago, I remember you saying something about a moratorium on foreclosures and some new program called Making Home Affordable. A program designed t... Read more Lori Kelly |
Government Tactic: Help the Banks by Lying to HomeownersLast April, when I was at Treasury, I told the Deputy Director of the National Economic Council, Diana Farrell, that the reports treasury was putting up on their web site touting the ... Read more Richard Zombeck |
Church Prays IndyMac Blesses American Homeowner PreservationMinisterio El Shaddai, a Christian church in North Phoenix serving over 100 predominantly Hispanic members, is scheduled for foreclosure sale on August 27. Church leaders are hoping a proposed short sale of ... Read more Jorge Newbery |
Massachusetts Passes Cornerstone Homeowner and Tenant ProtecMassachusetts is once again leading the pack in protecting consumers by passing legislation to protect families from getting thrown out of their homes. "An Act to Stabilize Neighborhoods" has ... Read more Richard Zombeck |
Bankers Bet On Failure of US HomeownersThe more American homeowners lose, the greater some bankers profit. Logic dictates that banks would want to mitigate their losses and resolve troubled loans with borrowers. But the reverse is true for ... Read more Jorge Newbery |
Make that Call to support Dr. Warren! Now!Okay now is the time for all of us to take action. There is a push. A push RIGHT NOW, to press our Senators to lobby the White House to appoint Dr. Elizabeth ... Read more Barbara Caldwell |
Corporate NarcissismI’ve had too many opportunities in my life to experience first-hand the selfishness and downright abusive tendencies of individuals whom I am sure have Narcissistic Personality Disorder (NPD). I have read that ... Read more Barbara Caldwell |
Serving Your Country? Bank of America Wants Your House...AtThe more stories we get from homeowners at shamethebanks.org and the more people I talk to about how they' re losing their homes, the more I start to believe that banks ... Read more Richard Zombeck |
Treasury Used Bogus Info In Report To HomeownersThis article is cross posted in HuffPost According to a recent article in HuffPo by Shahien Nasiripour, "Treasury claims that Fannie Mae, which administers its Home Affordable Modification Program, screwed up. ... Read more Richard Zombeck |
Family Averts Foreclosure & Plants a Cherry BlossomIn the midst of a year-long battle to save their home of 18 years from foreclosure, the Baker family of Windham, Ohio made a pact: if they saved their home, they would ... Read more Jorge Newbery |
When Facts Aren't on Your Side Lie, Like Banks DoCross posted in Huffington Post When you're a bank and the facts aren't on your side, it's apparently perfectly acceptable to just lie. No side-stepping, no spin, no double talk. Just flat out ... Read more Richard Zombeck |
Help Propublica Report on the Mod ProcessHere's an email I received (along with a lot of other people) from Paul Kiel at ProPublica. He's putting together some data on the Modification process. It seems to be focused on ... Read more Richard Zombeck |
Wells Fargo: America Needs Your HelpDear Wells Fargo, America needs your help. As a “too big to fail” bank, we accept that you will survive no matter how many borrowers you foreclose on, how much money you lose ... Read more Jorge Newbery |
Tax Liability of Short SalesMany families contemplating solutions to their housing dilemma are concerned with the tax implications of a short sale, whether a traditional short sale or an American Homeowner Preservation short sale where the ... Read more Jorge Newbery |
U.S. Commercial Real Estate Market Moves on Health
Aging population drives growth in healthcare REITS As growing concerns with vacancy in retail office
Freddie Mac – What is your interest in how long pe
I’m a little out of my league regarding disability rights, but I’m scratching my head at why Freddie
The Devil's Advocate
Perhaps you can look at me as just that; the Devil’s Advocate in as much as this, as one who argues
Life after Foreclosure
It’s going on almost two months now since the home was sold at sheriff sale, well, technically it wasn’t
Scott Brown Has Put the People's Seat Up For Sale
Now that Scott Brown has managed to score the same backroom deals he opposed during his campaign run
Seven Steps to Speedy Short Sales
Pathetic Ocwen lags the pack, averaging 29 months to process a short sale. Their competition is only
It's Not Over
You might have heard Fannie Mae is going to start going after homeowners who strategically default on
Finally Some Hope of HAMP Oversight
Last month I wrote a piece on ShametheBanks and in HuffPost about an amendment sponsored by Sens. Al
You are Not Alone
It is impossible to overstate the importance of websites like www.shamethebanks.org for people who are
Fannie Mae: Get Out of The Way!
In centuries past, if a family was to suffer a misfortune, neighbors would assist anyway they could in
Democrats Throw Life Line to Unemployed in the Mid
While the GOP is putting legislation in place to shove homeowners further underwater, Democrats are scrambling
Is finally getting a mod just a crap shoot?
Sitting here on a Saturday morning looking at my signed permanent HAMP mod documents from Chase. Yes
Bank Of America Mocks HAMP, Snubs Congressman and
Bank of America is making a mockery of the Treasury Department’s Home Affordable Modification Program,
Morals Anyone?
So it seems to me every new article that comes out in regards to strategic defaults these days needs
BOA To Help Homeowners
You might have read the article about Bank of America announcing details to partially forgive debts
Nina Easton, Fortune Blogger, Panders to Rich Frie
Last week, Nina Easton, Fortune Magazine's Washington Bureau Chief, described an apparent traumatic event
Proof, Please
Bank of America is once again trying to convince the public that they are actually doing something to
SEC Charging Main Street for accessing their datab
Finding your sliced and diced mortgage in the SEC database is like looking for a needle in a haystack.
Guardian Group Fund Principal Reduction Program Fa
Guardian Group Fund offered an appealing solution for distressed homeowners who owed more than their
The Rape of Main Street
Another night last night of feeling absolutely worthless and scared to death. Today, with a clearer mind
Ah Yes...A New Sale Date!
Meanwhile, back at the ranch... Our broker has resubmitted our loan mod paperwork to IndyMac/OneWest.
Crucial Help for Homeowners Could Never See the Li
Senator Al Franken (D-Minnesota), who in my opinion should be wearing a cape to work every day, introduced
Obsolete Servicer Policy Hampers Family
Struggling to stay in their home of 18-years, a Windham, Ohio family is desperately trying to solve their
Demand Your NPV Values! Criminal Penalties for Ser
The Treasury Department is insisting that servicers receiving HAMP incentive payments sign an affadavit
Real Stories
Marv E. North Las Vegas, NVPoliticians have been irresponsible in that they blame each other for the cause of the housing bubble and they are pulling strings with no clue on real solutions. Amazingly to me, the reason for the housing bubble and the solution to prevent more catastrophes in the future is easy to understand and solve, ‘er unless you are a politician. To ... Read more |
Dawn Karolides, Danvers, MAAs promised, the broker had me at another closing within 28 days. This time I had two mortgages to avoid paying mortgage insurance and to keep the monthly amount under my $1800 mark. The problem was that both mortgages were interest only, adjustable rates. I was over a barrel with a little house full of needy ... Read more |
Gene P - MOChase has wrongly tried to forclose on my home twice, which I did get stopped, now however they have come up with a way I can not fight. In 5 years we have had to employ three different lawyers(we are again in litigation at the present), had to pay a remod. company and move out of our home, that we still ... Read more |
Virginia W - Morgan Hill, CAAfter calling for the past two weeks to find someone at the bank who knows what "failed gross eligibility" means and spending hours on the phone I am now being told they are going to review my package again since everyone I have talked to cannot see why we were denied. Back at square one 8 months later all the ... Read more |
Maureen C. Rehoboth, MASO, I send, resend, resend again, fax, refax, etc. the necessary documents for this modification to take place. Tom Holdstein (Chase) guaranteed me I'd be "wrapped into a nice HAMP within the next few months. Don't worry." Next, I receive a forbearance plan from Chase - their own "in-house modification" because "that's the way we do ... Read more |
Daniel B. - Phoenix, ArizonaThere was never any question about owing the Bank of America the debt that we had incurred. Unfortunately, the mortgage payment on the primary mortgage was well within the 31% of my income. At no time was the Bank of America even willing to consider my other financial obligations or willing to restructure my loans. Neither ... Read more |
Steve M - LA.We have been terrorized in the worst of ways by this company and I have lived here since I was 6 in 1972 and m wife since 1988 and they will have to kill me and my wife to make us leave.This place is my life period.I draw a disability check every month and my wife works so hard to ... Read more |
Jamie D.I feel like I have been deceived and feel that Chase used the Trial payment to get as much as they can out of me. There are thousands of homeowners in my same situation. I just want to stay in my house and pay a payment that is 31% of my income. I have a monthly adjustable, negative amortization loan ... Read more |
J.A. - Martinsburg, WVI followed up with GMAC weekly, only to be advised they never received any of my offers or documentation from me or my listing Realtor. Amazing since I received written correspondence from GMAC stating they were reviewing the offers. GMAC sent me letters weekly announcing they were going to change the locks and weatherproof the vacant home. Weekly I contacted GMAC via phone and ... Read more |
Kathleen B. - NevadaI have been dealing with Litton Loan Servicing for over a year now. Back in January of 2009 We began to have trouble paying our mortgage due to medical bills and a loss of income. I talked to the servicer of our loan, Litton Loan Servicing and told them of our problems and made payment arrangements ... Read more |
April N. - Palm Bay, FloridaI am really discouraged at this point. What do I do? The house is very small, and with our growing family know it's not big enough. 4 people in a 2 bedroom, 1 bath house. Its not worth the $110K. I am truly scared to loose our home for fear ... Read more |
C.Stewart - League City, TXOf course we were scared and we signed it. Holly said it didn't matter, that there is nothing they would do. I asked her about all the charges and interest added to our loan. I told her that I understood the extra escrow charges but all the other ones I did not. She still said that they would not do ... Read more |
Alina ViraniIn August, my husband suffered a heart atack. I knew that I would have trouble paying the new mortgage payment so once again, I called the servicer. I explained the situation. I was told that I needed to pay 2 months mortgage payments and they would see if they could do a modification or a forebearance. ... Read more |
Christopher M- Kandiyohi, MNI must apologize straight off if I ramble, I am very angry at the moment and it may affect my writing. I have been working with Wells Fargo for over a year now. When my life savings and credit line had been depleted I stopped paying my mortgage while continuing to look for full time work. The winter of 2008/2009 I ... Read more |
Kelly L. Hansen - Jackson County, FLWells Fargo decided to pay my property taxes TWICE, and then they prepaid my homeowners insurance. I'd always paid month to month. After spending the last four years talking to hurting homeowners there is one thing I know for sure, Wells Fargo has created several sure fire ways to put homeowners in default so they can blame the homeowner when ... Read more |
Gordon Brooks, New Durham, NHOur house was taken in a non-judicial foreclosure after the servicer turned down a short sale offer that was only 5% below the loan balance. I later found out that there were multiple assignments of the same mortgage, between the same parties, though through two different servicers and prepared by two different notarious paperwork ... Read more |
Joseph S. - Hermon, Maine
I'm a single dad - career military man - a steady member of our community... I don't live a flashy extravegant
Michael L. - PA
I applied for HAMP and after 9 months of trial payments, I was denied as the "investors" would lose
Pamela Penick Rio Rancho, New Mexico
No, Chase will not accept any payments. You can imagine my frustration level by this point. They send
Eric L. - Rockledge, FL
I called our mortgage company and tried to see if my wife and I can qualify for a simple principal
Shawn and Jeff Mosch - Bloomington, Minnesota
I know that the whole deal sounded weird from the get go, but we said if the check clears then what
Sandra Meekins - Florida
First mistake we ever made was going 15 years on our mortgage when we refied. I started calling in April
Judy Lopez - Phoenix,AZ
I guess I should just be late in payments, let it go into foreclosure and maybe they would help me?
Jody S. - Twin Cities, MN
My husband and I have decided that we are not playing their game anymore and we are not making any more
Scott S. - Port Saint Lucie, FL
My PMI is also involved and they finally after 8 months of me complaining through emails to them started
Cynthia Treynor, Marengo,IL
I don't know how to begin this crazy tale of the american dream turned nightmare. my husband and i were
Rob Harrington - Niceville FL
My name is Rob Harrington. I will swear by oath and attest that my 3 years of (almost) daily research and
Elizabeth L. Fokes - Smyrna, GA
I wound up delivering pizza for 65 hours a week, due to having lost my job in law. I was barely making
Dave H - San Diego, CA - Letter to Wells Fargo
Today, January 12, I received notice from Wells Fargo that our request for modification was denied -all
Jenny McCusker Randleman NC
Familys with children with my employer are now paying $480.00 a month in healthcare. Seems there is no
Mike Dillon - Manchester, NH
No one can live in a situation like this, for this long without breaking down. Because of being in legal
Elsa Spraiter - Neptune Beach, FL
After 6 months of jumping through the Wells Fargo hoops, I was notified that I qualified for their
John Dupuis - Dickinson, TX
After hurricane Ike, Wells Fargo delayed the start and completion of and created additional stress to
Marcy E. - Waite Park, MN
We then made trial payments from january 1, 2010 thru June 2010 and finally on the June 22 we recieved
Elsa Spraiter - neptune beach, florida
My house is situated one block from the ocean's edge in Jacksonville, Florida. Does anyone else think
Steve F, Redding, CA
After this fiasco of 6 months of submitting information over and over again, I started researching mortgages,
Lester D. - Compton, CA
We heard nothing from CitiMortgage until two days before Christmas 2009, when they UPS us a pcket that
Christine Toth Pennsville , NJ
I call everyday and still no answers. I have had 5 different cases opened in the Chase Executive office.
Brian B. - Grand Junction, Colorado
I am not naive, but somehow I did think that "Making Housing Affordable" was really what this was all
Charles D Orlando, Fl.
The botom line is this. At the hearing August 2009 the Judge asked me if I was telling the Court that
Jackie - NJ
My story started back in April 2009, when my boyfriend and I lived together for a number of years, he
Martha W. - Avalon NJ
Keisha Hackney phoned looking for payment. She told me I was denied due to “the equity” and that
Kathy L. in Bend, Oregon
It is because of this experience of having been stripped of every financial resource I had and built,
Angie Burke - Reading, PA
Far too many families are being tossed to the streets and others are being torn apart. I was fully
Matt Seufert - San Diego CA
Well, I'm sure that I'm not the only one who's mentioned this but it requires repeating. After 2 attempts
Diane Casella - Florida
There really are no words to describe the anguish I feel when I think of the pain this has caused my
Cathy P. - Jacksonville, TX
Not only is my home listed for saleon 5/4/10-yea, that's tomorrow- I also lost my job of 25 years this
Suzanne P. - Florida
I've been trying to get a home modification for 6 months. I've had to send them the same papers 3 times.
Cynthia M.- Austin, Texas
Remember the phone call in regard to that little escrow problem I mentioned earlier? The call in which
Yoshio R, Corona, Ca
Today (7/19/10) I contacted Julie again and asked her what was going on with my account? Julie is
Desi S.- Poughkeepsie, NY
We purchased our house in 2000. I quit my job due to an illness in the family, my own illness and
Elizabeth Howarth - Newbury Park, CA
Welcome to the water stained living room ceiling,the exposed pipes out back from a plumbers hammer.the
Dee M - Fort Myers, FL
I purchased my house in Fort Myers, FL in March 2004. In December 2005 I lost my job. I was not able
Carla G. - Miami, FL
When I read the published Fannie Mae guidelines, I see that all the reasons BAC has given me to not provide
Brittany Hansen - Tennessee
My birthday was last Friday and when I got home from work there was a letter in the mail from an attorney's
Michelle C Magnolia, Delaware
I tried to pay the $4500 owed so we could resume payments. We have 3 small children I do not want to
Tammy Cothran, Navarre, FL
We have suffered enough personally, physically, financially, and mentally. But I will keep fighting
Cindy Parkinson-Faya - Stevensville MD
My position was when it states that they will not proceed when the loan is in REVIEW and Bank of
Mark Quigley, Port Saint Lucie, FL
NACA is monitoring our lack of progress and we are begining to wonder where this whole ordeal is going
Susan B. - Haward, CA
Chase, which lowered my available credit from 11,000 to 4500 in 2009, took my interest rate from 0 all
John M. - LA
I am the first person in my family to own a home, ever. Buying a home, even in the heyday of easy
Bryan Downie - Moreno Valley, CA
Bank of America sent me an overnight packet of documents to fill out and return for the Making Home Affordable
Jeff P. Los Angeles, CA
They denied me a permanent mod citing "insufficient income" based on info from my "credit report."
Peter - MA
they claim my taxes have gone up. i have check with the town read my tax bill and as far as i can see
Synthia LaFontaine, Naples, FL
I am enslaved by this situation. How long are educated people expected to work like slaves to guarantee
Troy and Becky A - Rincon GA
We are very frustrated, hard working Americans that thought we may have some hope with Obamas Home Modification.
Eloisa - Corona, California
I was relieved not to have been evicted and thought my problem was over. Not even a week after this
David Dowdy Kingsport Tennessee
The bailout was my money. Seems to me they are heaping more debt on people that can't afford it.
Lee Prusik Wilmette, Il
This is the last straw. We don't even want the house-- too much pain and suffering-- but I refuse to
Kathy McGraw - Lancaster, CA
In December of 2008 I missed my first mortgage payment on my Option ARM loan because it had increased
Stephanie S - Woodstown, NJ
Great that I have found another website to vent my ongoing frustration with WELLS FARGO BANK.Today marks
Teresa - OH
In 2006 my company move to another state giving me a permanent lay off letter and lost all benefits including
Dee Moulds - Fort Myers, FL
In August 2007, we were served foreclosure papers. We were scheduled to go to court in February 2008.
Melissa Nelsen - South Range, WI
I am not asking them to reduce the principle. I am asking only for a reduction in interest rate and
Nick I - Mesa, AZ
The uncertainty can kill you. I'd say that's an exaggeration, but judging by what I see around me,
Lisa K - Sonoma, CA
Long story short, I call Chase today and they say that they take the bank deposit amounts and come up
Latest News
Housing on the BrinkThere was a glimmer of hope in housing data this week. Pending sales — signed contracts between buyers and sellers — rose in July, by 5.2 percent, beating expectations of ... Read more |
 Banks Playing 'Foreclosure Roulette' With Delinquent HomeownersBea Garwood has been bracing for foreclosure since May, but she says she's been told three times to expect a sheriff's sale in the next month and it still hasn't ... Read more |
 Profiled Homeowner Gets a Mortgage ModificationWells Fargo finally gave a loan modification to a long frustrated homeowner—after we profiled her last week. Suzanna Wertheim of California, the first in our series of profiled homeowners [1], spent over ... Read more |
 For Gov’t Mortgage Mod Program, New Numbers Show Old ProblemsEach month, the Treasury Department releases new information about how homeowners in its mortgage modification program are faring. And each month, the numbers get bleaker. Take a look at our graphical ... Read more |
Loan Mod Profiles: Fed Up, Giving Up
On a recent Friday morning, Wallace Farmer packed up and moved out of his Baltimore row house. After over a year of confusion and delays, JPMorgan
Loan Mod Profiles: In Trial Limbo
Last fall, Wells Fargo told Michael and Concetta Acevedo that after a three-month trial, they could get a permanent mortgage modification that would
They Go or Obama Goes
By Robert Scheer Barack Obama and the Democrats he led to a stunning victory two years ago are going down hard in the face of an economic crisis that
Banks’ Self-Dealing Super-Charged Financial Crisis
Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history. Faced
Number Of Underwater Mortgages Falls, Thanks To Foreclosures
LOS ANGELES -- Foreclosures are helping to thin the ranks of U.S. homes with mortgages that exceed what the properties are worth, new data shows. Real
Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach - Mand
This is getting interesting. A judge in U.S. District Court, Southern District of California, has issued an order that may just answer a few prayers
Banks Increasingly Forced To Buy Back Bad Mortgages
That is the predicament now confronting the mortgage industry, where it has become clear that many billions of dollars in home loans were sold, guaranteed
Class action suit filed in New York against "foreclosure mill" attorneys and banks
New York-based attorney Susan Chana Lask has filed a federal class action complaint on behalf of tens of thousands of New York State homeowners who lost
Obama Housing Program Slowing To A Crawl While Homeowners Suffer
More than 18 months after President Barack Obama announced a $75 billion program to help three to four million homeowners avoid foreclosure, the administration's
Obama Administration Defends Lackluster Foreclosure Programs
Policymakers will likely keep mortgage rates low for the next several years because it's the best and cheapest way to heal the housing market, a senior
Ellen Brown Homeowners' Rebellion: Could 62 Million Homes Be Foreclosure-Proof?
Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry.
Seven Reasons Not to Buy a Home
This article is going to be a contradiction. After the fall that housing has suffered, I think that that, as an asset class, housing will probably be a
Treasury Department Holds All-Star Conference To Discuss Ailing Lenders
The call from business for less government has a notable exception: the mortgage market. The Obama administration invited banking executives Tuesday to
Banking Execs: Government Needs To Keeping Propping Up The Housing Market
The Obama administration invited banking executives Tuesday to offer advice on changing the government's role in the mortgage market. Their response:
'Vultures' Save Troubled Homeowners
Anna and Charlie Reynolds of St. George, Utah, were worried about losing their home to foreclosure last year. Then they got a lucky break—from an unlikely
Bank of America CEO defends loan modification
TAMPA - It's been a rough two years for Bank of America. It acquired Merrill Lynch, only to discover it had lost $15 billion in a single quarter. It
Rentals harder to find, afford
The region’s rental market has tightened in recent months, with apartment vacancies falling and rents rising for the first time since the beginning
Manhattan Luxury Condos Try FHA Backing in `Game Changer'
Whitney Gollinger, marketing chief for a Manhattan condo building with an outdoor movie theater and panoramic city views, is highlighting a different amenity
In This Play, One Role Is Enough
He is worth getting to know, not only because of his deep concern about the foreclosure epidemic, but also because he has made a compelling recommendation
'Robin Hood-Like' Scheme Disguised Customers' Debt
It's not every day that a man can perpetrate bank fraud and look like a hero. But that's exactly what's happened to Jeffrey Gonsiewski, a banker who pled
July Foreclosure Rate: Homes Lost Up 6 Percent From Last Year
The number of U.S. homes lost to foreclosure surged in July, another sign lenders are moving quicker to take back properties from homeowners behind in
Merrill’s Risk Disclosure Dodges Are Unearthed
It was named after a faint constellation in the southern sky: Pyxis, the Mariner’s Compass. But it helped to steer the mighty Merrill Lynch toward
July Foreclosure Rate: Homes Lost Up 6 Percent From Last Year
The number of U.S. homes lost to foreclosure surged in July, another sign lenders are moving quicker to take back properties from homeowners behind in
Home Equity Loans: Borrowers Refuse To Pay Billions
During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now
Jingle Mail for Me But Not For Thee - Hyatt Defaults
I’m sure we’re going to see all kinds of politicians on the teevee and the op-ed pages soon attacking their “character”: If you’re in Princeton,
Fannie Mae: Home Prices To Decline Into Next Year
Home prices will decline into next year, Fannie Mae said Thursday, reversing earlier projections that the housing market would stabilize this year. Former
Consultant: Federal Aid Program Failing Homeowners
A Fannie Mae consultant says she was fired after revealing that the troubled financial institution was hindering — not helping — homeowners in trouble.
Higher Government Mortgage Fees Approved By Senate
WASHINGTON — Higher monthly fees are coming for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source
EXCLUSIVE: Fannie and Freddie's Foreclosure Barons
LATE ONE NIGHT IN February 2009, Ariane Ice sat poring over records on the website of Florida's Palm Beach County. She'd been at it for weeks, forsaking
EXTEND AND PRETEND: The Obama Administration's Failed Foreclosure Program
President Barack Obama's signature plan to combat the housing crisis has fallen short of its goals -- rather than significantly and permanently reducing
Superman Saves Family From Foreclosure
It sounds like the stuff of superhero stories: a family on the brink of foreclosure saved their home when they found a rare copy of Superman's debut
The crisis of middle-class America
Technically speaking, Mark Freeman should count himself among the luckiest people on the planet. The 52-year-old lives with his family on a tree-lined
The New Credit-Card Tricks
Whomever President Barack Obama taps to head the new Bureau of Consumer Financial Protection could find it difficult to keep ahead of the credit-card
Henry Paulson: Fannie, Freddie Should Become Like 'Public Utilities'
The financial reform bill enacted last week is a significant step toward a much-needed modernization of our regulatory structure. It will provide tools
Troubles ahead for world economy
KERRY O'BRIEN, PRESENTER: The election campaign is being conducted in a budget framework based on the Australian economy returning to strong growth.
In Financial Regulation Bill, Increased Transparency for Loan Mod Program
Buried in the massive financial regulation overhaul [1] that President Barack Obama signed today, two provisions force the Treasury Department to increase
Loan Mod Backlogs Continue Despite Servicers’ Pledges to Improve
Two months ago, representatives of banks and other mortgage servicers participating in the administration's mortgage modification program [1] visited the
Mortgage fraud accusers promise hundreds more cases
Officials at an organization representing homeowners battling their mortgage lenders say hundreds more people in the tri-county area will join additional
HAMP Report Revised After Analysts Question New Metric
The Obama administration has revised its latest monthly report on its signature foreclosure-prevention plan, deleting a heavily-criticized performance
Wall Street Refused To Stop Shady Practices In Order To Keep Profits Flowing
“WHAT did they know, and when did they know it?” Those are questions investigators invariably ask when trying to determine who’s responsible for
Foreclosed without notice: How a court order could be violating homeowners’ due process
Chicagoan Rich Gregory figured it was only a matter of time before he'd hear from his bank after falling behind on his second mortgage. But when he was
When Denying Loan Mods, Loan Servicers Often Wrongly Blame Investors
Arthur and Alberta Bailey are about to lose their home near New Orleans, and their mortgage company says one thing stands in the way of relief: The
MERS “Common Thread” to hundreds of Mortgage Fraud lawsuits planned in MI
Officials at an organization representing homeowners battling their mortgage lenders say hundreds more people in the tri-county area will join additional
Wall St. Refused To Stop Shady Practices In Order To Keep Profits Flowing
“WHAT did they know, and when did they know it?” Those are questions investigators invariably ask when trying to determine who’s responsible for
AIG Failure Would Have Meant Big Losses For Goldman Sachs, Documents Show
Since the United States government stepped in to rescue the American International Group in the fall of 2008, Goldman Sachs has maintained that it would
The new consumer agency: What's in it for you
There is little debate that the financial reform bill President Barack Obama signed on Wednesday includes the most ambitious consumer-friendly initiative
Is Bank of America Hiding an Insolvency Problem From The Public?
The cool thing about owning a company like MFI-Miami is that I get to chat on and off the record with a lot of media types with the inside scoop on what
Sputtering Obama Foreclosure Program May Threaten Recovery
The number of new homeowners entering the Obama administration's signature foreclosure-prevention effort dropped 35 percent to a one-year low in June,
Why Won’t Lenders Renegotiate Delinquent Home Loans?
Remember the Obama Administration’s “Making Home Affordable Plan”? The one that promised to help millions of financially strapped Americans who
Holding Bankers’ Feet to the Fire
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington
Banks Seek to Keep Profits as New Oversight Rules Loom
The ink is not even dry on the new rules for Wall Street, and already, the bankers are a step ahead of everyone else. In ways large and small, the broad
When checking fees replace overdraft fees
The NYT has a look at the new sources of revenue that banks are turning to now that the financial reform bill has killed off (or will kill off) many of
Well, Would You Look At That… Homeowners Scared the Heck Out of Fannie Mae
A few weeks ago, Fannie Mae issued an outright threat to homeowners in this country, creating a new rule that would punish anyone who stops paying their
Obama Admin Praises Elizabeth Warren But States 'There Are Other Candidates As Well' To Lead CFPB
Top Obama administration officials rushed to praise leading consumer advocate and bailout watchdog Elizabeth Warren on Friday as being "exceptionally
Tim Geithner Opposes Nominating Elizabeth Warren To Lead Consumer Protection Agency
Treasury Secretary Timothy Geithner has expressed opposition to the possible nomination of Elizabeth Warren to head the Consumer Financial Protection
'Stealth Bankers Bomb As Anti-Reform Crusaders'
July 15 (Bloomberg) -- If you thought herding cats was tough, try herding bankers. Last week Bloomberg News reported that the American Bankers Association
Strategic Defaulters as the New Welfare Queens
A well placed Washington contact wrote: I was in a discussion with the staff at one of the Federal agencies involved in housing to ask them about the
1 MILLION Americans Expected To Lose Homes In 2010
LOS ANGELES — Rosalyn Dalebout rents out space in her home to three tenants, has cut off her phone service and canceled her earthquake and life insurance
Elizabeth Warren To Head Consumer Protection Bureau?
Once President Obama signs Wall Street reform into law, the battle will move off the front pages, but it'll be far from over. Who the president picks
60-Year-Old Couple Lose Their Jobs And Home
In 2008, David LaRochelle and his wife, Debbie, owned two houses: a single-family home in Southern Florida and a double-wide mobile home in Plains, Georgia,
Bank Accused Of Lying About Lost Paperwork
In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration's
We're in a Recession Because the Rich Are Raking in an Absurd Portion of the Wealth
Wall Street's banditry was the proximate cause of the Great Recession, not its underlying cause. Even if the Street is better controlled in the future
Biggest Defaulters on Mortgages Are the Rich
The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper
Powerful Private Equity Firm Sued Over 'Reckless' Mortgage Fund
The world's second-biggest private-equity firm was sued this week over its "reckless and grossly negligent" management of a failed mortgage bond affiliate
