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Loan Modification

: Loan Modification & Home Loan News

Foreclosure crisis phase 2: The negative equity dilemma

By Moe Bedard

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For almost a quarter century, Cynthia Johnson, a Boston homeowner, has paid the mortgage on her three-bedroom single-family house on time. But in July, for the first time, she’ll miss a payment. “I’m on [the bank's] doorstep at this point, saying, ‘The savings are gone. I can’t pay you as promised,’ ” she said. Unless [...]

Full post as published by Loan Modification & Home Loan News on July 13, 2010 (boomark / email).

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Lawsuits and Settlements

GMAC Faces Class Action over Foreclosure Abuses
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American Equity Investment Life
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Class Action Filed Against Banks in Foreclosure Proceedings
Class Action Filed Against Banks in Foreclosure Proceedings

Countrywide Financial Corp.
allegedly charged borrowers improper foreclosure fees.

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