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Loan Modification

: Loan Modification & Home Loan News

Banks must start reducing principal for underwater borrowers

By Moe Bedard

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At a packed San Jose hearing last week, a group of tearful, angry Bay Area residents described their struggles against foreclosure. Several of them ultimately got their payments lowered through the federal Home Affordable Modification Program. Too many others, though, don’t qualify and are just waiting to learn their fate. The hearing, convened by the [...]

Full post as published by Loan Modification & Home Loan News on June 28, 2010 (boomark / email).

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Lawsuits and Settlements

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.

Wesley A. Snyder et al.
alleging the consultants perpetrated a Ponzi scheme by encouraging borrowers to lend more than they needed.

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