Mortgage Defaults

Foreclosure-Mocking Law Firm Issues Apologies For Costumes

AP | CAROLYN THOMPSON | Posted 01.02.2012

Read More: Video, Foreclosure Crisis, Homeless Alliance of Western New York, Mortgage Crisis, Homeless, New York Times, Foreclosure, Steven J. Baum Law Firm, Mortgage Defaults, Halloween Party, Business News

BUFFALO, N.Y. — The head of a foreclosure law firm whose employees mocked victims of the mortgage crisis at a Halloween party last year apologiz...

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Financial Fascism: Who Wins and Who Loses in the Economic War?

Vivian Norris | Posted 12.11.2011

So many people around the world support you. As your movement grows, it becomes the movement of ALL of us and the support is only growing. It is the humanity in the stories and the outrage which is beyond justified which is our strength.

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Can You Pay Your Mortgage And Still Lose Your Home? One Family Did

Posted 10.15.2011

Read More: Creative Financing, Intermediate Mortgages, Video, Mortgage Defaults, Bv-Money, Black Voices News

AOL Real Estate reported last week on a Michigan family who lost their home despite never missing a mortgage payment. The culprit: creative financing,...

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Taking on TARP

Dan Rather | Posted 08.08.2011

Read More: Dodd-Frank Act, Video, Wall Street Bailout, Foreclosure Crisis, Unemployment, Financial Oversight, TARP Money, Financial Recovery, Neil Barofky, Big Bank Bailout, Obama TARP, Mortgage Defaults, Big Banks, Financial Regulation, Business News

"You can't look at what happened in the run-up to 2008 and see how it's not going to repeat itself, given what we've done," says Neil Barofksy, who became TARP's Special Inspector General in December, 2008.

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Those Walking Away From Mortgages Aren't Who You'd Expect

AOL Real Estate | Catherine New | Posted 07.11.2011

Read More: Housing Market, Loan Modification, YouWalkAway.Com, Freddie Mac, Lending Industry, Financial Consultant, Center for Responsible Lending, Fannie Mae, Mortgage Defaults, Housing Crisis, University of Chicago's Booth School of Business, Upside Down Mortgages, Business News

Like so many American homeowners, he lost his job in the financial crisis and watched the value of his house plunge. Unable to modify his loan -- and ...

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Government May Force Big Banks To Reduce Loan Balances For Distressed Homeowners

HuffingtonPost.com | Shahien Nasiripour | Posted 07.10.2011

Read More: JP Morgan Chase, Foreclosure Crisis, Rob McKenna, Loan Modifications, Wells Fargo, Attorneys General Mortgage Crisis, Ally Financial, Mortgage Crisis, Big Banks Foreclosure Crisis, Bank of America, John Suthers, Attorneys General Foreclosure Crisis, Mortgage Defaults, Distressed Homeowners, Citigroup, Business News

The nation's five largest mortgage firms may be forced to reduce loan balances for distressed homeowners as part of an agreement with state attorneys ...

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

Roberto G. Quercia | Posted 05.25.2011

Read More: Financial Security, Hamp, Strategic Defaults, Mortgage Defaults, Retirement, Cramdown, Housing Crisis, Business News

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

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NYT Study: Rich Are Biggest Mortgage Defaulters By Far

New York Times | Posted 05.25.2011

Read More: Mortgages, Rich Mortgages, Economic Crisis, Wealthy Mortgage Defaults, Mortgage Crisis, Financial Crisis, Wealthy Mortgages, Mortgage Defaults, Mortgage Default, Rich Mortgage Defaults, Business News

LOS ALTOS, Calif. -- No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust th...

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Broken Apartments In Defaulted Properties: Who Fixes Them?

AP | SAMANTHA GROSS | Posted 05.25.2011

Read More: New York Apartments, Broken Apartments, Mortgage Defaults, Real Estate, New York Broken Apartments, New York Real Estate, New York News

NEW YORK — Step into Charlene Barton's apartment, and the first thing you smell is mold. The air by the door is thick with a vile steam. In the...

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Bank Heist: It's Mortgages, Not Money

Dan Dorfman | Posted 05.25.2011

Read More: Mortgages, Banks, Senate, Mortgage Defaults, John Dillinger, Hedge Funds, Wachovia, Business News

This "bank heist," the brainchild of a brash hedge fund trader who used to receive seven-figure year-end bonuses, but who will soon be unemployed, centers on snaring a sharp reduction on one of his three mortgages.

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American Dream 2: Default On Mortgage, Then Rent For Less

Wall Street Journal | MARK WHITEHOUSE | Posted 05.25.2011

Read More: Renting, Housing Crisis, Foreclosure, Mortgage Defaults, Home Ownership, Real Estate, Housing Bubble, American Dream, Rentals, Mortgage Crisis, Business News

PALMDALE, Calif. -- Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez mis...

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Federal Housing Administration Subpoenas 15 Lenders With High Default Rates

AP | ALAN ZIBEL | Posted 05.25.2011

Read More: Federal Housing Administration, Mortgage Crisis, Mortgage-Companies, Mortgage Defaults, Foreclosure, First Tennessee Bank, Business News

WASHINGTON — Federal housing officials on Tuesday served subpoenas on 15 mortgage companies with suspiciously high default rates for loans backe...

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FHA Bailout: Federal Housing Agency Has Lowest Amount Of Cash On Record

bloomberg.com | Dawn Kopecki | Posted 05.25.2011

Read More: Federal Housing Administration, Foreclosures, Bailout, Fha, Mortgage Crisis, Mortgage Defaults, David H. Stevens, FHA Baulout, Housing and Urban Development, Shaun Donovan, Business News

Nov. 12 (Bloomberg) -- The Federal Housing Administration's mortgage insurance reserves fell to the lowest level in history and the government said mo...

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If Morgan Stanley Walks Away, Why Shouldn't You? Firm Walks Away From 5 Properties

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Morgan Stanley, Mortgages, Brent White, Housing, Strategic Defaults, Financial Crisis, Homeowners, Mortgage Defaults, Commercial Real Estate, Business News

To the extent that Morgan Stanley is leading by example, the securities colossus is sending an unlikely message to underwater homeowners: Walk away. ...

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SEE Where Mortgages Are Most Delinquent

Posted 05.25.2011

Read More: Auto Loans, Consumer Credit, Mortgage Defaults, Student Loans, Housing Crisis, Home Foreclosures, New York Federal Reserve Bank, Business News

Where is the mortgage crisis wracking the most damage? These handy maps, courtesy of the New York Fed, track changes in mortgage delinquency rates by ...

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Banks Don't Differentiate Between Successful Business and Suffering Industries

Grant Cardone | Posted 05.25.2011

Read More: Sell to Survive, Sba, Banks, Banks Stockpile, Bad Loans, Mortgage Defaults, Banks and Lending, Grant Cardone, Small Business Administration, Government and Banks, Business News

Small businesses that depend on borrowed money to grow are unable access credit because banks are unable to see the difference between profitable companies and damaged industries.

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New Wave Of Federally-Backed Mortgages Go Bad Without A Single Payment

Washington Post | Dina ElBoghdady and Dan Keating | Posted 05.25.2011

Read More: FHA Loans, Economy, Federal Housing Administration, Fha Mortgage Defaults, Housing Crisis, Mortgage Defaults, Mortgage Crisis, Business News

This decade's housing boom rendered the agency irrelevant. Americans raced to aggressive lenders, seduced by easy credit and loans with no upfront cos...

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Geithner: Where Was the Beef?

Jeff Madrick | Posted 05.25.2011

Read More: Toxic Assets, Timoth Geithner, Mortgage Defaults, Bank Bailout, Public-Private Partnerships, Business News

Fine principles aside, what's the actual plan in real life? Geithner is short on the details and that was disturbing. Is there still infighting among advisers on how to proceed?

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Obama Needs a Mortgage Default Plan Fast

Jeff Madrick | Posted 05.25.2011

Read More: Barack Obama 2008, Bank Losses, Larry Summers, Mortgage Defaults, Economic Policy, Mortgage Backed Obligations, Politics News

As of today, we hear the Obama team is talking about a plan to stabilize the market by buying or insuring bad assets. No plan can be perfect, but we need some plan quickly.

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It's the Mortgages: How to Restore the Health and Stability of the Economy

Graciela Chichilnisky | Posted 05.25.2011

Read More: Mortgages, Freddie Mac, Defaults, Bailout, Mortgage Crisis, Financial Crisis, Fannie Mae, Credit Default Swaps, Fannie Mae Freddie Mac Bailout, Mortgage Defaults, Alan Greenspan, Business News

The true root cause of the financial crisis starts with the continued defaults on mortgages that magnify and snowball throughout the entire financial system.

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