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Home Loans

Seven Terrifying Things They Don't Tell You About Bankruptcy

InvestingAnswers | Posted 11.29.2011 | Business
InvestingAnswers

Attorneys often tout bankruptcy as an easy way to get out of debt, but they downplay some of the serious long-term consequences. Before you decide if bankruptcy is right for you, consider seven realities first.

Second-Lien Loans May Prompt New Losses For Banks

nytimes.com | GRETCHEN MORGENSON | Posted 09.16.2011 | Business

On Thursday, JPMorgan Chase said it earned $5.4 billion during the second quarter. On Friday, Citigroup said it earned $3.3 billion. Despite such h...

Bank Of America's Mortgage Business 'Struggling Mightily,' CEO Says

Posted 07.11.2011 | Business

CHARLOTTE, North Carolina (Joe Rauch) - Bank of America Corp (BAC.N) is working to improve profits by reducing its number of problem mortgages and cut...

SEC Asked BofA For Details About Its Rainy Day Reserves

Posted 06.05.2011 | Business

The Securities and Exchange Commission (SEC) sought information from Bank of America Corp (BAC.N) last year about the loan-loss reserves used to repur...

JP Morgan Chase Rolls Out New Protections for Military Borrowers

Chris Birk | Posted 05.25.2011 | Business
Chris Birk

Lending giant JP Morgan Chase is working to increase protections for military borrowers after the company overcharged thousands of service members and...

Foreclosure Records Shattered In 2010

Posted 05.25.2011 | Business

WASHINGTON (Reuters) - Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months...

Home Loan Demand Drops To Lowest Level In A Year

Posted 05.25.2011 | Business

NEW YORK (Reuters) - Mortgage applications tumbled to their lowest level in nearly a year as a six-week-long rise in interest rates took a significant...

Refinancing Surges Even As Foreclosure Crisis Mounts

Bloomberg | Jody Shenn | Posted 05.25.2011 | Business

A rush by U.S. homeowners to refinance at near record-low interest rates marks a rare bright spot for the mortgage industry, under attack for choking ...

Foreclosure Fraud Is the Tip of the Iceberg

Gordon Whitman | Posted 05.25.2011 | Politics
Gordon Whitman

One year ago, homeowners from California, Missouri and Massachusetts marched into the U.S. Treasury and handed officials a foot-high stack of documents from 150 families trying to save their homes.

Property Rights Gone Wrong

Dylan Ratigan | Posted 05.25.2011 | Politics
Dylan Ratigan

Banks profited by packaging and selling those toxic home loans. Then they profited again by betting against those same securities. A bet, in essence, that a fraudulent loan wouldn't be paid back. But why would politicians allow this?

A Visit To A Loan Modification Marathon

FDL News Desk | David Dayen | Posted 05.25.2011 | Business

I walked through the Los Angeles Convention Center on Saturday, past the marquee blaring the finals of the World Cyber Games, known as the Olympics of...

William Alden

Foreclosure Repossessions Hit Record High in August

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

August saw more Americans lose their homes to foreclosure than any other month on record, RealtyTrac reported today. Banks repossessed a total of 9...

Wells Fargo's 'College-Application-Type Essays' Violate Fair Housing Act

nytimes.com | TARA SIEGEL BERNARD | Posted 05.25.2011 | Business

When Linda Falcão applied for a mortgage from Wells Fargo, she didn't realize she would be required to write the type of essay that's more commonly i...

A Tale of Two Worlds

Gary Liberson, PhD | Posted 05.25.2011 | Politics
Gary Liberson, PhD

Housing completions are at a 50-year low and our unemployment is at a 50-year high. I am sure the Fed will cut interest rates. We do not have an interest rate problem. We have a bank problem.

Liar's Loans

Christopher Carduff | Posted 09.18.2012 | Business
Christopher Carduff

A great lie is repeated as the cause of our current economic crisis, and it prevents us from dealing with reality.

Jason Linkins

JPMorgan Executive Mobbed By Borrowers After Inviting Them To Bring Him Their Complaints

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Business

David Lowman, chief executive for JPMorgan Chase's home mortgage division, may have gotten a little ahead of himself at yesterday's House Financial Se...

Freddie Mac and Fannie Mae Must Marry, Shrink and Change

Jerry Chautin | Posted 05.25.2011 | Politics
Jerry Chautin

But the time is right to merge Fannie Mae and Freddie Mac and form three separate companies. That is the best way to lead the GSEs out of federal conservatorship and repay the taxpayers.

Michael Burry: The Unlikely Billionaire Investor In Michael Lewis's Latest Book

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

In his new book, "The Big Short" -- excerpted in the latest Vanity Fair -- Michael Lewis profiles the value investor who foresaw the mortgage meltdown...

Rep. Brad Miller: The

UnHAMPered | Rep. Brad Miller | Posted 05.25.2011 | Business

As part of its initial legislative barrage on the economic crisis, the Roosevelt administration created the Home Owners' Loan Corporation ("HOLC") in ...

Elkhart, Ind.: How One Town Relies On The Government's Enormous Support For The Housing Market

nytimes.com | DAVID STREITFELD | Posted 05.25.2011 | Business

More than one in 10 mortgage holders in Elkhart is seriously behind on payments. The median sales price has plunged to the level of a decade ago. Many...

Gretchen Morgenson: Lobbyists Win Again In Securing Tax Break For Home Builders

Huffington Post | Nicholas Graham | Posted 05.25.2011 | Business

The New York Times's Gretchen Morgenson points out that lobbyists have won another victory that will lead to billions in taxpayer dollars being handed...

Big Banks Repeatedly Bending Loan Modification Rules

ProPublica | Posted 05.25.2011 | Business

Nathan Reynolds is something of an expert on the government's foreclosure prevention program. A mortgage broker who's worked in the Chicago area since...

Preventing Foreclosure: How To Cope With Negative Equity

Mainstreet | Brian O'Connell | Posted 05.25.2011 | Business

You wouldn't know it from the national media, but just because your home loan is underwater -- meaning you owe more than the house is worth -- that do...

Homeowners Often Rejected Under Obama's Make Home Affordable Loan Modification Plan

McClatchy | Kevin G. Hall | McClatchy Newspapers | Posted 05.25.2011 | Politics

WASHINGTON -- Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are hold...

Home Loans Brokered By Nonprofits Helped Fuel The Housing Crisis

The Huffington Post Investigative Fund | Jeff Horwitz and Dave Jamieson | Posted 05.25.2011 | Business

Before the housing boom got underway in the late 1990s, a California nonprofit group hatched an idea to help families who qualified for government-bac...