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Arthur Delaney

Dems To Fannie Mae: Why Are You Feeding Foreclosure Mills? | Arthur Delaney | Posted 05.25.2011 | Politics

Congressional Democrats want to know why government-backed mortgage finance giant Fannie Mae's is farming out foreclosure paperwork to "foreclosure mi...

Arthur Delaney

Franken: Foreclosure Paperwork Scandal Shows Need To Strengthen HAMP | Arthur Delaney | Posted 05.25.2011 | Business

The revelation that massive numbers of foreclosures may be tainted by bogus paperwork from mortgage servicers is further evidence that the Obama admin...


Alfred Gingold | Posted 05.25.2011 | Business
Alfred Gingold

Readers of my last Chase Home Weasel Update on Huffpo know that we are four weeks past the talk with the Tax Department's dulcet JoAnne, during which ...

Shahien Nasiripour

Obama Homeowner Program Hits 10-Month Low As Prices Drop And Foreclosures Surge | Shahien Nasiripour | Posted 05.25.2011 | Business

The number of homeowners receiving permanent relief under the Obama administration's primary foreclosure-prevention initiative hit a 10-month low as h...

HAMP Homeowners Sue Bank Of America Over Mortgage Modification

USA Today | Posted 05.25.2011 | Politics

Permanent modifications, which lower mortgage payments to 31% of a borrower's pretax monthly income for five years, have been given to only about a th...

Chicago Region HAMP Modifications Reach Lowest Level Since Data Was Reported

Dory Rand | Posted 05.25.2011 | Chicago
Dory Rand

HAMP's momentum appears to be slowing, as permanent modification growth slows and the number of trial modifications decreases more sharply.

Arthur Delaney

Banks Playing 'Foreclosure Roulette' With Delinquent Homeowners | Arthur Delaney | Posted 05.25.2011 | Business

Bea Garwood has been bracing for foreclosure since May, but she says she's been told three times to expect a sheriff's sale in the next month and it s...

For Whom the Bell Tolls: Making the Best Choice for Borrowers in a Bad Situation

Roberto G. Quercia | Posted 05.25.2011 | Business
Roberto G. Quercia

Despite efforts by industry and elected officials to discourage it, more and more borrowers may choose to exercise their option to default.

Government Tactic: Help Banks by Lying to Homeowners

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

The only real strategy a homeowner has is to apply for a loan modification using the same strategy the banks, servicers, and apparently the Administration, and Treasury have used against them.

Shahien Nasiripour

Obama Housing Program Slowing To A Crawl While Homeowners Suffer | Shahien Nasiripour | Posted 05.25.2011 | Business

More than 18 months after President Barack Obama announced a $75 billion program to help three to four million homeowners avoid foreclosure, the admin...

Are Loan Modifications Causing Foreclosures?

Richard Gaudreau | Posted 05.25.2011 | Business
Richard Gaudreau

Not only is HAMP helping far fewer homeowners than promised, there's evidence that HAMP may be leaving more homeowners worse off than if they never had entered the "loan mod" program in the first place.

Shahien Nasiripour

White House Defends Lackluster Foreclosure Programs | Shahien Nasiripour | Posted 05.25.2011 | Business

Policymakers will likely keep mortgage rates low for the next several years because it's the best and cheapest way to heal the housing market, a senio...

Shahien Nasiripour

Famed Investor Bill Gross Calls For Massive Taxpayer-Backed Mortgage Refinance Initiative | Shahien Nasiripour | Posted 05.25.2011 | Business

The head of the world's biggest bond fund, bemoaning the slow economic recovery, reignited debate Tuesday by publicly supporting a massive new refinan...

Serving Your Country? Bank of America Wants Your House...At Any Cost.

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

The HAMP program has done little more than give mortgage servicers an incentive and in some people' s eyes the encouragement by Treasury to suck what little money homeowners have left before throwing them out of their homes.

Shahien Nasiripour

EXTEND AND PRETEND: The Obama Administration's Failed Foreclosure Program | Shahien Nasiripour | Posted 05.25.2011 | Business

President Barack Obama's signature plan to combat the housing crisis has fallen short of its goals -- rather than significantly and permanently reduci...

Shahien Nasiripour

HAMP Report Revised After Analysts Question New Metric | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 8:00 p.m. ET to include two comments from a Treasury Department official. The Obama administration has revised its latest m...

Shahien Nasiripour

Sputtering Obama Foreclosure Program May Threaten Recovery | Shahien Nasiripour | Posted 05.25.2011 | Business

The number of new homeowners entering the Obama administration's signature foreclosure-prevention effort dropped 35 percent to a one-year low in June,...

Shahien Nasiripour

Average Homeowner In Obama Foreclosure Program Deeply Underwater, Drawing Calls From GOP To Cut Off Help | Shahien Nasiripour | Posted 05.25.2011 | Business

The average beneficiary of the Obama administration's flagship homeowner-assistance program owes their mortgage lender more than $1.50 for every dolla...

Disorganization At Banks Causing Mistaken Foreclosures

ProPublica | Paul Kiel | Posted 05.25.2011 | Business

Millions of homeowners face losing their homes in the continuing foreclosure crisis, but homeowners often have more than the struggling economy and sl...

Arthur Delaney

Chase Sued AGAIN Over Mortgage Modifications Gone Wrong | Arthur Delaney | Posted 05.25.2011 | Business

Three frustrated homeowners in New York City are suing JPMorgan Chase over the bank's failure to permanently modify their mortgages under the Obama ad...

Arthur Delaney

Seth Wheeler, Architect Of Homeowner Help Program, Resigns | Arthur Delaney | Posted 05.25.2011 | Politics

A senior Treasury department official closely involved with the Obama administration's struggling mortgage modification program has called it quits --...

We Need Principal Reductions Now -- But the New Short Sale Regulations Are Positive Step

David Segal | Posted 05.25.2011 | Politics
David Segal

The administration has just instituted new regulations to make life easier on homeowners who are making the difficult decision to sell a home for less than the value of the outstanding mortgage.

Harry and the Homeowners

Robert Kuttner | Posted 05.25.2011 | Business
Robert Kuttner

The Obama administration has made several false starts at serious mortgage relief. But every single shift in the program has been hobbled by the same basic problem -- it is voluntary to the bankers.

Illinois Legislature Passes Bill to Protect Homeowners

Samantha M. Tuttle | Posted 05.25.2011 | Chicago
Samantha M. Tuttle

Homes are being lost to foreclosure even while homeowners are still trying to modify their loans under the federal the Home Affordable Modification Program, in violation of the program.

Shahien Nasiripour

Potentially 'Thousands' Of Homeowners Improperly Denied Obama Mortgage Modifications, Administration Admits | Shahien Nasiripour | Posted 06.29.2010 | Business

This report was updated at 10 a.m. ET on Wednesday, June 30, to include additional information on HAMP. Potentially "thousands" of troubled homeowner...