The Foreclosure Train Rolls On

The Foreclosure Train Rolls On

FORECLOSURES DESTROY HOMES Mortgage modification was intended to be easy to qualify for. Anyone willing to pay up to 31% of family income should be allowed to stave off foreclosure, even if the 31% paid does not cover the actual mortgage payment. But mortgage...
Zombie Foreclosures

Zombie Foreclosures

CFPB: Zombie foreclosures hurt borrowers The Consumer Financial Protection Bureau is keeping an eye on “zombie” foreclosures, which it worries cause “direct borrower harm,” according to a CFPB executive. Zombie foreclosures occur when a bank starts the foreclosure...
New Federal Rules on Foreclosure

New Federal Rules on Foreclosure

New Federal Rules on Foreclosure —By Erika Eichelberger – Thanks to Mother Jones On Thursday, the Consumer Financial Protection Bureau, the federal consumer watchdog set up by the Dodd-Frank financial reform bill, announced a new set of foreclosure-prevention...
Deceptive Practices in Foreclosures

Deceptive Practices in Foreclosures

Deceptive Practices in Foreclosures Thanks to the New York Times September 13, 2013  In early 2012 when five big banks settled with state and federal officials over widespread foreclosure abuses, flagrant violations — including the seizure of homes without due process...