If collections made a debt settlement offer or a company made a foreclosure rescue offer read this first Our material is dedicated to the financial crisis of 2007, documenting the period before, during, and after. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. We are a watchdog and consumer advocacy organization.
More than a fifth of subprime homeowners in the UK have fallen behind with their mortgage repayments. In the United States we have another looming problem as gasoline continues to cost more. Subprime borrowers in the US are falling behind. Costs are escalating. In the past few days HSBC and UBS [...]
Irony strikes again as opportunists are taking advantage of other opportunists. Squatters are taking possession of foreclosed homes. Invoking their rights as ‘tenants’ nobody is willing to come forth to dispute the fact, and banks (the other opportunists) as actually paying squatters to leave. The situation seems ironic to me. California [...]
U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as rates on adjustable mortgages increased and vacated homes added to a glut of unsold homes. Amid the mess mortgage lenders are telling us how many borrowers were helped by their loving, consumer oriented customer care [...]
Just when we thought subprime could not get uglier, one of the world’s largest banks has found a way to usurp U.S. government regulations. High-Rate, High-Fee Loans HOEPA/Section 32 Mortgages and how to get around the regulation seems to be the newest and latest marketing ploy.
“As a current employee I am appauled to see [...]
Government sometimes works quickly to create laws or legislation that sometimesw results in overkill. Lack of forward-looking thinking should include an analysis of how scam artists will beat the system. Apply that logic to our new proposed anti-foreclosure bill. The newest and latest argument is over $15 billion in grants and loans [...]
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