Banks Finally Set to Compensate “Robosigning” Victims

As of next month, homeowners who were wrongly foreclosed upon as a result of banks’ “robosigning” will begin to receive compensation from lenders, with the amounts ranging from a few hundred dollars to as much as $125,000 in some cases, said federal regulators last week.

Fed’s $8.5 Billion Payout Leaves Many Unanswered Questions

Some have suggested that the Federal Reserve’s $8.5 billion payout will have brought an end to the long running issue of wrongful foreclosure, but these people are seriously mistaken. In all likelihood, all the lenders have achieved is to give themselves an even bigger headache than they had before…

Deadline Extended For Banks To Revamp Foreclosure Practices

Federal regulators have given the nation’s 16 leading mortgage lenders another month to work out how they are going to tackle the widely publicized problems they are facing with loan modification and foreclosure procedures. Mortgage lenders and servicers were initially given a 45-day deadline by federal regulators to come up with their plans – a […]

Couple Threaten Bank With Foreclosure

A couple in Florida have threatened to “foreclose” on the Bank of America after it wrongly foreclosed on their own home – which they didn’t even have a mortgage for – they paid in cash!   The mix-up happened when the couple, Warren and Maureen Nyerges, bought themselves a foreclosed home in Naples back in […]

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