Mortgage Servicer Abuses

09 Apr Mortgage Servicer’s Biggest Jackpot Is Home Insurance

jackpotHow would you like to pay for my spring vacation to Maui? Or make my house payment this month? What? you howl. What do I get out of paying your bills? Good question. Please repeat that question when your mortgage lender gets you to pay for insurance on your home that protects only the lender. I'm talking about force-placed insurance. The insurance that your mortgage lender arranges when you let insurance on your property lapse or when you fail to name the lender as an additional insured on the policy. Your mortgage requires that you keep the property insured. When you let the insurance lapse, what happens? The lender charges you an inflated price for the required insurance that does not protect you or your property at all.

False economy

I saw this scenario this week in a pending Chapter 13 case for a lady trying to catch up on her mortgage.
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09 Mar Justice Delayed is Justice Denied: The Case Against Big Banks

  I've seen lots of funny men; Some will rob you with a six-gunAnd some with a fountain pen.~ Woody Guthrie (Pretty Boy Floyd)Last month, Elizabeth Warren asked a pointed question of senior treasury department officials regarding why no enforcement action had ever been taken against...

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28 Nov Tiny Percentage Getting Help Through Modification Program

Folks, the question was "Who Are The 100,000 Homeowners Receiving BOA Mortgage Modifications"? The question at the end of the blog was "where are they?". It turns out that perhaps the mainstream media is beginning to catch on to what consumer attorneys already knew: Perhaps they don't exist. Only a tiny percentage of mortgage modifications attempts turn into reality according to Tami Luhby, a senior writer, in a November 28, 2009,articleentitled "Obama Mortgage Rescue: Only A Few Get Lasting Help."
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