Memphis Mortgages the Good, Bad, and Ugly Part Two



In this second article about mortgages in the Memphis area, we look at what others are experiencing when they apply for a mortgage. We’ll consider reviews by individuals regarding specific lenders. People in the Memphis area have posted these reviews on Zillow.com about personal experiences with loan officers and various lending institutions. The Good Bank […]

Latest Foreclosure Settlement – Whitewash For Banks Or Proof That Banks Are Not Guilty?



The latest 8.5 billion dollar foreclosure fraud settlement has the top ten banks paying out this money to mortgage borrowers who were involved in a foreclosure proceeding in 2009 and 2010, without regard for whether that borrower was wronged or not.

Bank of America – Settlements – Distance from Wrongdoing



Yesterday the biggest settlement of the ongoing financial crisis was hammered out between bankers and loan buyers such as Fannie Mae. The civil settlements, to the tune of $19 billion forthcoming from the bankers, may signal the coming of the end for Federal regulatory probes.

Clarifying Deed In Lieu Of Foreclosure – It’s STILL A Foreclosure



These days the housing news is abuzz with stories of various banks, Fannie or Freddie offering a “deed in lieu of foreclosure” to homeowners who are in danger of losing their home.

Independent Foreclosure Review Extended To September 30, 2012



If you are or were a homeowner who had a foreclosure initiated, pending or completed between January 1, 2009 and December 31, 2010, you may be eligible for compensation or damages related to your foreclosure case IF you act to file a request for review before the September 30th 2012 deadline.

Bank of America in $30,000 Short Sale Incentive



As part of its efforts to reduce the number of foreclosures on its books, the Bank of America is offering relocation payments of up to $30,000 to struggling homeowners to induce them to agree to a short sale.

BoA Launches Mortgage to Lease Program



Last week, Bank of America announced that for a select group of homeowners currently facing foreclosure, they would have the option to remain in their homes after all. The catch? They don’t actually get to keep their homes… they have to rent it from the bank instead.

Fannie and Freddie Mortgage Write Downs – Another Bailout For Big Banks



Fannie and Freddie regulator Edward DeMarco, the acting Director of FHFA, is taking a lot of heat for his reluctance to write down first mortgages for underwater homeowners. But DeMarco is rightly pointing out that the push to write down the first mortgages is merely a form of protectionism for the four largest banks in the U.S. – JP Morgan Chase, Wells Fargo, Citigroup, and Bank of America.

The $26 Billion Foreclosure Settlement: Who Won? Who Lost?



A consortium of the Department of Justice and the Attorneys General of every state other than Oklahoma recently announced a $26 billion settlement with the five largest new mortgage and home mortgage refinance lenders to settle claims related to improper foreclosures. Although it has been hailed as a significant victory for consumers and has been compared to the landmark $206 billion 1998 tobacco settlement, the details of the agreement paint a different picture.

US Banks Agree Foreclosure Settlement Worth $26 Billion



The US government has just announced a deal with five of the country’s biggest banks that will see homeowners given more than $25 billion as part of a settlement over foreclosure abuses.

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