GMAC, Chase and Bank of America are just the beginning - Citibank, HSBC, PNC, U.S. Bank & Wells Fargo should be next to halt home mortgage foreclosures. They aren’t doing this out of kindness or even for good publicity. The Comptroller of the Currency is putting the pressure on them. Will they do anything to clean up the mess after they’ve taken a couple of months to look at it? Look for some cosmetic touches followed by business as usual. Don't expect them to follow the law unless they get caught. Continue reading

New federal class action suit on behalf of people with mortgage foreclosures where MERS and Stern's office were involved. Continue reading

Short sale can be the best solution to your mortgage worries, but it has its problems. Continue reading

Expect around 3 MILLION properties to go into foreclosure this year, according to RealtyTrac's latest report. June was the 16 month in a row where properties with foreclosure filings exceeded 300,000. That adds up to about 5 MILLION foreclosures in 16 months. Continue reading

Goldman Sachs agrees to pay only $550 MILLION to settle mortgage fraud charges. Continue reading

When it comes to preventing mortgage foreclosure, knowledge is power. Continue reading

JPMorgan Chase made $4.8 BILLION profit during April thru June this year, a 77% increase. It's good to be banker. Continue reading

30-yr fixed mortgage rate down to 4.69%. % of American who qualify, even lower. Continue reading

If thinking about mortgage foreclosures and foreclosure rescue scams isn't enough to keep your blood pressure from sinking down to normal, consider the following item, first published in 2009. Since the beginning of 2008 . . . the 20 U.S. banks that have received the most bailout dollars have laid off 160,000 workers. The 100 top executives at these 20 banks, in 2008 alone, collected a combined $791.5 million in personal compensation. Continue reading

Mortgage companies get great publicity from announcing foreclosure relief for oil spill victims, but very few homeowners likely to benefit. Continue reading

California mortgage broker Ruben Hernandez and his partner, Joel Rodriguez, used fake Social Security numbers and phony bank statements to buy real estate and take out mortgages. When police came for him, Hernandez led them on an 80-mile-per-hour chase before they arrested him. That’s not all he tried to avoid getting locked up. When cops searched his Pasadena home, they found a voodoo shrine. There were voodoo dolls with the names of the prosecutor and the investigators written on them. The dolls had pins in their eyes and were dunked head first in cups of water. It didn’t help. According... Continue reading

Occasionally the court of appeals is not impressed with that 'never give up' attitude: “Rodriguez also claims that the trial court erred in denying her corrected amended motion to amend complaint seeking to file a sixth amended complaint.” They didn't grant the motion. Continue reading

California man arrested for identity theft in mortgage foreclosure defense fraud case. Continue reading

Thinking of representing yourself? According to AboveTheLaw, here's what one judge had to say to say to someone who chose to defend himself in a case where he was entitled to have a lawyer for free: 'You don’t know how to ask a question. You don’t know how to offer things into evidence. You keep making stupid speeches. You keep saying you are good at this. You are not. I do not say this to insult you." – Justice Carol Berkman to Robert Camarano, a pro se litigant representing himself in a murder trial in New York State Supreme Court. Continue reading

Bank's lawyers submit 2 different versions of the "original" promissory note in Palm Beach county home mortgage foreclosure case. Continue reading

Freddie Mac wants U.S. to give it another $10.6 Billion. Money won't go to help homeowners. Continue reading

If one of these law firms represents the bank that’s suing you, see if any of these people swore that they work for your mortgage company. Continue reading

Florida Attorney General's Office announced that it is investigating the foreclosure law firm, Florida Default Law Group, for fraud. this firm "Appears to be fabricating and/or presenting false and misleading documents in foreclosure cases. These documents have been presented in court before judges as actual assignments of mortgages and have later been shown to be legally inadequate and/or insufficient. Presenting faulty bank paperwork due to the mortgage crisis and thousands of foreclosures per month. This firm is one of the largest foreclosure firms in the State. This firm appears to be one of Docx, LLC a/k/a Lender Processing Services' clients,... Continue reading

Mortgage insurance premiums for FHA loans go up 1/2 % after today. That means an extra $500 up front for each $100,000 borrowed. Continue reading

Yesterday Credit Suisse announced that its chief executive got a bonus of $17.9 MILLION for 2009. Other banks that have paid their CEOs bonus recently are Deutsche Bank ($12.8 MILLION), JP Morgan Chase ($17 MILLION) and Wells Fargo ($21 MILLION). Continue reading

The FTC is going to require some changes to the ads for "free" credit reports. Continue reading

This week Federal Home Loan Bank of San Francisco finally sued Bank of America and others for lying about the value of mortgage-backed securities. Continue reading

Judge orders Wells Fargo to pay New York homeowner $150,000 for their "outrageous" conduct while his mortgage foreclosure was pending. Continue reading