Today’s Foreclosure NewsThe National Consumer Law Center, the best source of US consumer law information, has recently started a webpage listing the various lender programs, the list of lenders in bankruptcy, and those that have just failed. Page here. It is a new page and it will be undoubtedly updated further in the future so check back to see if the [...]
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Countrywide Financial, a prominent member of the Hope Now Alliance and new division of Bank of America, claims that all the representations it makes to the public about loan repayments and modifications are “puffery” — aka LIES. MSNBC article here. Of course this comes in defense of a lawsuit filed by a borrower in trouble. Rather [...]
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What’s up with Fannie Mae? First they stop all foreclosures and evictions over the holidays (originally through January 9, 2009, but extended through end of Jan). See Washington Post article here. Now, they are allowing tenants of foreclosed properties to continue to rent their homes on a month to month basis or offer rellocation money (“cash [...]
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Update: Surprise: Low Payments, Lower Redefaults. Original post: While the mortgage lending industry pleads with us that they are helping scores of families with loan repayment agreements and loan modifications (with the same fervor that they refuse to explain where the bailout money went), others were concerned that their numbers lacked a certain truthiness. See Hope Now Alliance’ Numbers Flawed here. [...]
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