October 19, 2017 – Article posted in Bloomberg.com. Bank of America tries to bully a bankruptcy judge, ignoring the consequences of illegal acts, but the judge is not standing for it. Bank of America seems to think they can bully a bankruptcy judge, like they did a California couple in a nightmare foreclosure, but the […]
Yet another loan workout or modification scam. I am disgusted by the number of calls we receive every week detailing a company or lawyer who takes someone’s hard earned money and fails to deliver on their promise to modify the home mortgage.
Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers.
According to Bloomberg News: Fannie Mae will begin bulk auctions of mortgages, including some sales targeted for non-profit groups and small investors, as Fannie Mae moves to reduce the number of non-performing loans “sour mortgages” on its books.
The story is one that thousands of homeowners have experienced over the last 8 years: job loss, financial collapse, and possible bankruptcy. The homeowner diligently works with the lender to reduce payments, following the lender/servicer’s instructions only to find complete mismanagement by the lender/servicer to properly document agreements and then the initiation of a foreclosure. […]