Stephen Gandel, senior writer over at Time Magazine, discussed the recent news from Bank of America of BOA’s plans to donate lots after bulldozing 100 foreclosed Cleveland homes. The lots will be donated to local government authorities. That donation adds to earlier donations of lots where 100 bulldozed Detroit homes once sat along with [...]
Foreclosure News
If the mortgage industry has its way, the passage of a new bill floating around Tallahassee will ensure that Floridians will be displaced from their homes without legal representation or due process. In typical Orwellian style, this bill is entitled the Fair Foreclosure Act – it’s anything but . . . Florida often makes [...]
It is commonly understood that bankruptcy law affords no basis to set aside a prepetition foreclosure sale, even if the sale generated far less than the fair market value of the property, as long as the sale was conducted in a procedurally proper manner under state law. That understanding may be an oversimplification, according to [...]
We have bailed out the mortgage companies that brought us the foreclosure crisis, now the states and a federal government agencies are on the verge of a sellout buyout by the bad guys for fraudulent foreclosures. The Office of Comptroller of the Currency, or OCC, and the attorney generals for all 50 states are participating [...]
A joint report by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency found significant irregularities in the foreclosure activities of ten of the nation’s largest mortgage lenders, and ordered those lenders to “remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies.” According to [...]
Last week a Columbus, Georgia jury awarded more than $21 million to a soldier in a mortgage servicing dispute. Sergeant Brash bought his home in 2007, and always paid his mortgage through an automatic bank draft. Despite the bank drafts, after about 18 months he began receiving notices that his payments were delinquent. He tried [...]
