Courtesy of Freddie Mac:
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Mortgage Company v. Mortgage Company: You Lose
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American Home Mortgage has filed bankruptcy and is fighting with Freddie Mac and Ginnie Mae over who gets the last jewel in AHM’s business. The asset? Maybe your loan file. And until the fight is over, your home might be at risk. Freddie Mac and Ginnie Mae, the huge government sponsored mortgage buyers, are fighting [...]
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What is Congress Doing To Protect Homeowners From The Mortgage Mess?
by Andy Miofsky, Illinois Bankruptcy Attorney
A hearing is scheduled for 3 p.m. on Tuesday September 25, 2007 by the U.S. House of Representatives Committee on the Judiciary Subcommittee on Comercial and Administrative Law to consider testimony on the topic, Hearing on Straightening Out the Mortgage Mess: How Can We Protect Home Ownership and Provide Relief to Consumers in Financial Distress? [...]
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How Do I Know If I Have Been Caught Up in Mortgage Fraud?
by Jonathan Ginsberg, Atlanta Bankruptcy Attorney
If you have followed the news recently, you may have read articles about mortgage fraud. Several “sub-prime” lenders are going out of business – in part due to mortgage fraud. More troubling, I have met with several potential bankruptcy clients recently who have gotten themselves caught up in some of these mortgage fraud transactions. In [...]
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Mortgage Fraud, Housing Bubble, and You
by Dana Wilkinson, Attorney at Law
This article in the Washington Post notes the connection between the rampant mortgage fraud, lax lending practices, and the housing bubble. Many experts have concluded that the nation’s real estate boom of recent years was fueled in part by weakened lending standards that sparked excessive demand and drove up prices. Now, some are worried that [...]
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Fannie and Freddie Can’t Afford To Bail Out Subprime
by Wendell Sherk, Missouri Bankruptcy Attorney
The government is hoping Fannie Mae and Freddie Mac will come to the rescue of subprime lenders and borrowers by buying up more of those loans and working with consumers to save their homes. But both companies are showing rapid declines in their assets — neither look like they are in a position to bail [...]
