All articles in Loan Modifications

Fannie Mae Introduces new Short Sale Tool

Buying a home is one of the most exciting and scary times in a person’s life but it is also very complicated. There are a number of parties to this transaction and they read like a movie credit in order of appearance:

  Continue reading Fannie Mae Introduces new Short Sale Tool

Obama: Subprime lending immoral, not illegal

Official presidential portrait of Barack Obama...
Image via Wikipedia

Obama: “Subprime lending immoral, not illegal” http://ow.ly/6PE2P

Today the president took a question from a  reporter who asked him why his administration had failed to file suit or enforcement action against corporate leaders for the 2008 financial crisis that ultimately led to numerous bank, insurance, auto-maker and state bailouts. To that the president replied…

“If someone has engaged in fraudulent actions — if they have violated laws on the books, they need to be prosecuted,” President Obama said. “One of the biggest problems about the collapse of Lehman, the financial crisis and the subprime lending fiasco is that all of that stuff wasn’t necessarily illegal.” Continue reading Obama: Subprime lending immoral, not illegal

Class Action Lawsuit Filed Against SunTrust Mortgage, Inc.

SunTrust Bank, 118 Small Pines Drive, Raleigh, NC

Jun. 24, 2011 (GlobeNewswire) – SEATTLE, June 24, 2011 (GLOBE NEWSWIRE) – Attorney Advertising. Keller Rohrback L.L.P. (www.krclassaction.com) announces the filing of a class action lawsuit in the United States District Court for the Southern District of California. Continue reading Class Action Lawsuit Filed Against SunTrust Mortgage, Inc.

The Trouble With Trial Mortgage Loan Modifications

Image courtesy WSJ.com

These days there seems to be no shortage today of people or politicians angry at mortgage companies.  Most however tend to be  customers of the nations five largest mortgage servicers;

Bank of America, Wells Fargo Home Mortgage, JP Morgan Chase & Ally Financial.

The source of anger tends to be  focused on  foreclosure, short sale request or loan modifications aka work-outs that never seem to get worked out and result is foreclosure. Continue reading The Trouble With Trial Mortgage Loan Modifications