Loan Modification

Modification Scams
While the loan origination fraud is largely shut down, the foreclosure crisis has spawned a whole new consumer fraud in the form of foreclosure rescue and loan modification scams. These companies offer to help consumers get a loan modification or...

California Regulator To Consumers Saddled With Unaffordable Mortgages: Stay Away From Loan Modification Outfits Engaged In "Lawyer Renting"
A recent New York Times' story featuring the loan modification operation Federal Loan Modification Law Center(1) contains this excerpt describing an arrangement that some might refer to as "lawyer renting," in which a company, attempting to circumvent laws prohibiting the collection of upfront fees for its services, enters into a deal with an attorney that allows the outfit to conduct its

Why I dont do loan mods
As a Jacksonville Florida foreclosure defense attorney, I am often contacted by homeowners requesting representation in the loan mod process, and my answer is always the same: NO! My firm never engages in the pointless process of loan modification because we would like to keep our sanity, thank you very much! There is only one way to [...

Ex-Subprime Toxic Mortgage Peddlers Now Coming To The Rescue As Loan Modification Specialists
The New York Times recently published a story reporting on how many of the operators of so-called loan modification firms are the same people who, only a couple of years ago, peddled the risky subprime mortgages that has gotten the now-financially distressed homowners in trouble in the first place...

Alabama Issues Warning On Dealing With Loan Modification Firms / Foreclosure Rescue Operators; Says Charging Upfront Fees In State Prohibited
In Birmingham, Alabama, the Birmingham Business Journal contained this warning in an excerpt on a story on loan modification firms targeting Alabama homeowners: The [State of Alabama Banking Department's] Bureau of Loans Supervisor Scott Corscadden said consumers must [...

Understanding How Long it Takes to get a Loan Modification
Image via Wikipedia Understandably, if you applied for a loan modification and failed to hear from your lender after two to three weeks, you’d tend to get a little antsy and perhaps even annoyed (especially if you continue to receive late payment notices and nasty phone calls from collection agencies)...

Whats a Home Loan Modification?
How to Qualify for a Home Loan Modification

Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act

The Mortgage Forgiveness Debt Relief Act
Phantom Income Relief on Debt Cancellation

TransUnion
Class action credit practices suit offers free credit monitoring services for millions.

Wells Fargo Faces Loan Discrimination Class Action
Wells Fargo Faces Loan Discrimination Class Action

Aurora Loan Faces Class Action over Mortgage Review Services
Aurora Loan Faces Class Action over Mortgage Review Services

Student Loan Xpress Settles Class Action with Students
Student Loan Xpress Settles Class Action with Students

DirecTV
alleging a cancellation fee that is improperly or insufficiently disclosed to consumers.

Antitrust
Price Fixing Could Cost Consumers up to $300 Billion Annually