- U.S. Treasury threatens lenders with meaningless "consequences" for non-compliance with HAMP loan modification guidelines
No surprise, Bank of America\Countrywide gets the lowest marks for giving trial modifications. But my office can confirm that all lenders have been slow to convert trial mods into permanent loan mods. Principal reduction remains extremely rare on ... read more +
30-Nov-2009 2:09p
- If a lender wrongfully denies your loan mod...there is little you can do about it
The following article captures the reality of what many homeowners in financial distress will face in trying to secure a loan modification. Servicer incompetence is rampant. The bottom line is that if you are wrongfully denied a loan mod, there is ... read more +
19-Nov-2009 9:52a
- New owners of INDYMAC mortgages make large profits by denying loan modifications.
When the Indy Mac failed to meet FDIC capital liquidity guidelines, the government agency took over and set up a loan modification program that became the basis for Obama's HAMP program. The understaffed FDIC, while slow to process, helped modify ... read more +
17-Nov-2009 8:32p
- Traffickers Without Borders
By Louis Klarevas , Professor, Center for Global Affairs, New York University Posted: November 17, 2009 Slavery is alive and well in the 21st century. This point hit home this past weekend, when I led a group of New York University students through ... read more +
17-Nov-2009 7:05a
- Traffickers Without Borders
By Louis Klarevas , Professor, Center for Global Affairs, New York University Posted: November 17, 2009 Slavery is alive and well in the 21st century. This point hit home this past weekend, when I led a group of New York University students through ... read more +
17-Nov-2009 7:05a
- What Is Chapter 13 Bankruptcy?
A chapter 13 bankruptcy is also called a “reorganization plan” or a “wage earner’s plan.” A debtor who files a chapter 13 bankruptcy intends to repay all or part of her debts in installments to creditors over three to five years. The individual’s ... read more +
16-Nov-2009 12:41p
- Personal Bankruptcies Are Up
According to the National Association of Consumer Bankruptcy Attorneys ( click here ) bankruptcy filings have increased nationwide to a record level this year. This is due to a variety of factors. There has been a steady increase in the filings here ... read more +
4-Nov-2009 12:32p
- Obama administration not pushing through mortgage cramdown
As foreclosures continue to surge, congressional Democrats are pitching bankruptcy courtroom solutions to homeowners' woes, but the Obama Administration says it has read more +
2-Nov-2009 9:34a
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