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.

Obama’s Foreclosure Fix Failures

The Obama administration’s attempts to deal with the foreclosure crisis have been nothing short of abysmal. As of right now, more than 6 million American homeowners remain under threat of foreclosure, or are behind on their mortgage payments. Property prices are continuing to fall, and inventories across the U.S. are overwhelmed with foreclosed homes. Obama’s

Read More »

Banks Ordered to Reimbursh Wrongly Foreclosed Homeowners

The U.S. federal government has ordered 16 of the largest lending institutions to pay back those customers who did not get proper foreclosures.  Among those on the list are Citibank, JPMorgan Chase, Bank of America, and Wells Fargo, the four largest banks in America. This is the governments latest jab at mortgage lenders designed to

Read More »

RealtyBizNews: Real Estate Marketing & Beyond