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Providence Council OKs fine for disregarding foreclosure law
Philip Marcelo, Providence Journal PROVIDENCE — The City Council has approved a $2,000 fine for banks or lenders that fail to follow the city’s new foreclosure ordinance, which requires that lenders attempt to renegotiate mortgages with homeowners before filing a deed of foreclosure with the city. The fine was among a number of amendments that received final approval from the council Thursday.... [Read more]
Bank of America Attempts To Steal House From Elderly MA Couple Ruining Son’s Homecoming From Iraq
WCVB-BOSTON — A Massachusetts couple says their son’s homecoming from Iraq was spoiled when Bank of America/Countrywide foreclosed on their Florida home, which they owned free and clear, according to a lawsuit. Homeowner Charlie Cardoso, of New Bedford, was shocked to hear that the bank, with whom he never had a mortgage, foreclosed on his Spring Hill, Fla., home, despite telling the bank it had... [Read more]
Fannie Mae and Freddie Mac Behind Cancelled Foreclosure Auctions?
The fact that Fannie Mae and Freddie Mac over the holiday now have “unlimited” support from the government may signal new methods of dealing with the foreclosure crisis that once again will destroy the prudent in our country and reward the Wall Street bankers with another gift. So why have cancellations risen so much in the last few months? This has to do with Fannie Mae, Freddie Mac, Bank of... [Read more]
Military Families Get Help Fighting Foreclosures
It is one thing to worry about the safety of your spouse who is serving in Iraq or Afghanistan. It is another thing to be afraid that while he or she is gone, the bank will take away your house and your loved one will have nowhere to come home to. Linda Kellam, 50, knows both those fears. Her husband James, 49, is serving in Afghanistan with the 1218 Transportation Unit of the Army National Guard,... [Read more]
401k/IRA Screw Job Coming?
Now this is a guaranteed rape job. In a short conversation this noontime that CNBC apparently has omitted from their archives (Why’s that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market. Where would they get this? From your 401k and IRA accounts! Let me tell you what this is – it is an attempt to prevent the collapse of the Treasury... [Read more]
New York Fed Faces House Subpoena Over AIG Bailout
The Federal Reserve Bank of New York may be forced to deliver documents related to American International Group Inc.’s government bailout after the chairman of a House oversight committee said he would issue a subpoena. Edolphus Towns, the New York Democrat who runs the Oversight and Government Reform Committee, said yesterday in a statement he would issue a subpoena for New York Fed records concerning... [Read more]
Congressional Delegation Requests Criminal Investigation
Northern Colorado’s congressional delegation turned up the heat on former New Frontier Bank officials Tuesday, calling for a federal investigation into the bank’s collapse. U.S. Sens. Michael Bennet and Mark Udall along with U.S. Rep. Betsy Markey asked U.S. Attorney General Eric Holder to investigate possible fraud connected to the April failure. The bank was closed by federal regulators... [Read more]
One Woman’s Saga as She Stares Down Foreclosure
Many a financially strapped homeowner has a story to tell about missed mortgage payments, delinquency notices, and threats of foreclosure. Few of the stories have as many twists and turns as the now-eight-year-long tale of Donita Bagner of West Philadelphia, court records, legal documents, and interviews show. Between Bagner’s 2002 purchase of a four-bedroom, one-bathroom rowhouse and what could... [Read more]
NY AG Cuomo Asks 8 Banks for Bonus Information
New York Attorney General Andrew Cuomo on Monday pressed the nation’s eight biggest banks to reveal how much they plan to pay out in employee bonuses for 2009. Cuomo told reporters that he also wants to know how the size of the banks’ bonus pool would have been affected if the banks hadn’t received a taxpayer rescue at the height of the financial crisis in late 2008. The fact-finding... [Read more]
Living on Nothing but Food Stamps
After an improbable rise from the Bronx projects to a job selling Gulf Coast homes, Isabel Bermudez lost it all to an epic housing bust — the six-figure income, the house with the pool and the investment property. Now, as she papers the county with résumés and girds herself for rejection, she is supporting two daughters on an income that inspires a double take: zero dollars in monthly cash and... [Read more]
