Over 40 states have already signed on to the sellout deal the corrupt politicians negotiated, so they could run for office beating their chests bragging about their tremendous accomplishment, with their mortgage company liege lords, who should have already started their prison terms, to get them off the hook for the greatest financial crimes in [...]
foreclosures
Bankruptcy! I don’t want to file bankruptcy! Hey, if you do want to file, there is something wrong with you. But you want to keep your house? Avoid foreclosure? Which option hurts more: losing your home, or, filing bankruptcy? We humans make decisions based on our emotions: we shy away (or run, if you are [...]
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 [...]
HAMP, the Home Affordable Modification Program which can modify a mortgage, is no way to avoid bankruptcy. It’s a heart-breaker. It builds up false hopes and then destroys them. That’s my conclusion from reading the new Congressional Oversight Panel report. I haven’t written on HAMP because I’ve questioned its relevance to bankruptcy, but a number of clients [...]
Proprietary mortgage modifications, not HAMP mortgage modifications, lead the way according to HOPE NOW Loan Mod statistics. 120,000 modifications have been done by the mortgage companies themselves, compared to only 27,840 HAMP mortgage modifications, compared to HAMP has been, and remains, a gigantic government failure. It was supposed to lower the foreclosure rate. There are [...]
image credit: dreamstime Countrywide, number one offender, writer of the most sub-prime mortgages (the list goes on) admits bilking homeowners, in foreclosure, and even including those who had successfully completed Chapter 13 cases, usually filed to avoid foreclosure, out of tens of millions of dollars. The Department of Justice, through the United States Trustee’s [...]
