One of the most significant rulings this year was when the Massachusetts Supreme Judicial Court affirmed a lower court ruling that invalidated two mortgage foreclosure sales because the banks, US Bancorp and Wells Fargo, could not prove that they actually owned the mortgages at the time of the foreclosure. This is an important win for homeowners, many [...]
Ten Reasons Why Homeowners Are Suing Their Lenders and Winning
Questions: What has propelled homeowners to change gears and put their faith in the courts instead of trying to get the lenders to give them a fair shake with a decent loan modification in recent months? Why are the courts seeing lawsuits filed against lenders by homeowners with requests to get their homes free and [...]
Predatory Loans, Predatory Servicers, Predatory Foreclosures
Apr 29, 2011 By Harlan Gray For some time now the nation has been abuzz with the knowledge that more than 6 million loans issued over the past decade are predatory. Almost every homeowner who has attempted to work directly with his servicer to get their loan cleaned up (modified) has found that they’ve been [...]
Obama’s TARP Manager Throws in the Towel
March 10, 2011 By Jenna Lee Andrews HAMP PROGRAM A FAILURE Once again, the Obama Modification program (commonly called HAMP) is coming under fire from members of Congress. The program was supposed to help 3 million to 4 million homeowners avoid foreclosure, but it has fallen far short of that goal, and now Republican [...]
Tila Solutions Helps Stop Foreclosures with Forensic or Securitization Audits and Attorney Referrals
February 20, 2011 By Tara Tyrrell According to the research firm RealtyTrac, a record 2.9 million homes fell into foreclosure in 2010, with banks seizing more than 1 million homes. By the end of December, roughly one out of every 500 housing units in the U.S. had received a foreclosure filing. More than 3 million [...]
Bank Employees Start Coming Forward with Stories of Lies & Deceitful Acts against Homeowners
JAN. 4, 2011 From the New York Times Article, Two States Sue Bank of America Over Mortgages in December of 2010 – “Former employees said that Bank of America’s modification staff was “chaotic, understaffed and not oriented to customers,” according to a news release. One former employee said, “The main purpose of the training is [...]
Bank of America Sued by Arizona and Nevada for Fraudulent Loan Modifications
DEC. 20, 2010 By Helen Johnson First let’s review to see if this is the first time that Bank of America has been accused of pretending to modify loans: BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork Arthur Delaney – 07/12/2010 02:00 PM In a new lawsuit seeking class-action status, homeowners [...]
Statistics Reveal at Least Half the Foreclosures are Cured-Foreclosure Profitable to Banks
November 27, 2010 By Harlan Gray In most states, foreclosure is initiated after three payments have been missed. In most states, the beginning of foreclosure is a document known as the notice of default. It will be mailed to the property address, and often nailed to the door of the property as well. In some [...]
Bank of America Claims “Inaccurate or Faulty Documents” Don’t Show Homeowner Was Harmed
November 18, 2010 Banks are not above the law, but they will try to operate as if they are. Here’s the latest: Bank of America has claimed that a couple from Indiana really doesn’t have a case against them for robo-signed foreclosure documents. Why? Because the family, according to BofA, didn’t try to do anything [...]
There’s a New Day Dawning for the American Homeowner in Distress Illegal Foreclosures are Opening Loan Mod Doors
November, 2010 By Sean Hansen Let’s take a look at some of the more common illegal foreclosures: The lender who is foreclosing on you is not the lender on your deed of trust. This is ok if all the proper assignments are recorded. Of course, the lenders set up MERS and very few loans have [...]
