Archive for the tag "foreclosures"
Sometimes you have to wonder if some people are living on another planet or existing in some alternate universe or something. The geniuses at TransUnion, one of the big credit reporting agencies that keep all kinds of data on consumers and how creditworthy they are, is reportedly surprised by the latest statistics that show mortgage [...]
Although many homeowners make payments to mega-banks like CitiGroup, Bank of America, Wells Fargo and others, a lot of them may realize that the big bank is simply acting as a mortgage servicer for one of the big quasi-Federal mortgage lenders like Fannie Mae or Freddie Mac. The big banks, as you might expect, line [...]
A foreclosure law firm in New York State has agreed to a $2 Million settlement after they were accused of using questionable (at best) practices in its proceedings during foreclosures. The Steven J. Baum law firm was the target of lawsuits and investigations by various attorneys general as well as U.S. attorney Preet Bharara of [...]
New mortgage standards currently being hammered out by the Consumer Financial Protection Bureau will attempt to reduce the risk of mortgages being given to consumers who do not have the ability to pay them back. The foreclosure crisis we have been experiencing for the last few years is blamed partly on mortgages approved for borrowers [...]