Financial Crisis Monitor

Subprime, and the resulting crisis built up, exploded, and ruined the US economy. Risky lending imploded in 2007. Now we see more fallout, as RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter of 2010 from a year ago. In [...]

From our Saxon Mortgage watchdog and consumer advocacy website comes this information concerning the HAMP program. The information was submitted by a HAMP applicant who initially was told of missing paperwork. The complaint is frequently heard about mortgage servicers including Saxon Mortgage. Citigroup had similar complaints about missing paperwork.
Here is a detailed [...]

Most people fail to realize that by prolonging their problem, they are much further from a real solution.
With a short sale of the home the bank often tries to recoup the additional monies through a promissory note. If you have little chance of raising the monies to pay back the note, perhaps you should [...]

Foreclosure filings were reported on 341,180 properties in March, a 17 percent increase from the previous month and a 46 percent increase from March 2008. The March and Q1 2009 totals were the highest monthly and quarterly totals since RealtyTrac began issuing its report in January 2005 despite a decrease in bank repossessions (REOs), which [...]

Today we see another press release from Hope Now, with another initiative. Bank baiolouts, implosion, and stock market news makes one point perfectly clear. Even President Barrack Obama is shunned by some shady lenders. Obama is ignored by shady mortgage servicers. No matter how hard Hope Now actually tries, investors block [...]