Loan Modification

More Principal Reducing Loan Modifications Urged
Former FHFA boss James Lockhart told CNBC today more aggressive loan modifications were necessary to stem the rising foreclosure numbers and put an end to the housing mess. He noted that a quarter of all homeowners with mortgages are underwater, meaning they owe more than the properties are currently worth...

When banks refuse to modify mortgages
Paul Kiel has an important story today on something I was not aware of at all: banks converting trial loan modifications into... trial loan modifications. This violates the government's guidelines, but it seems that the likes of Chase and Wells Fargo are doing anything they can to avoid doing what is clearly envisaged in the government plan: transform all trial modifications to permanent modifications if the trial-mod payments are made in full and on time for three months.

Gov. Schwarzenegger Move Will Deprive Homeowners of Legal Representation When Negotiating a Loan Modifications
``California Senate Bill 94, originally intended to protect distressed homeowners by preventing non-attorneys from charging upfront fees for helping homeowners obtain loan modifications, has been expanded to prevent attorneys from accepting a retainer in advance when representing a client seeking a loan modification...

Making Home Affordable Program May Help More Underwater Homeowners
The Making Home Affordable program may be further expanded to help more underwater homeowners refinance their mortgages. Though mortgage rates have crept up in recent weeks, current interest rates are more favorable than they have been in the past few years...

Homeowners Say Banks Not Following Rules for Loan Modifications
" Housing advocates say they frequently see homeowners rejected or kept in a trial modification for questionable reasons. ?There?s a real resistance on the servicers? part to making permanent modifications,? said Diane Thompson of the National Consumer Law Center...

Admistration, Mortgage Servicers Meet; Agree To Increase Pace Of Loan Modifications
Bloomberg News reports:Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications, according to the U.S. Treasury. ?With over 200,000 trial loan modifications already under way, we are on track to meet our goals,? Treasury Secretary Timothy Geithner said in a statement today...

Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act

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

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

Catheterized Arrest
State of Washington pays $15,000 settlement after forcing a man to screen for intoxicants.

Rent Controlled Apartments
Landlord to pay $10 million settlement after forcing out low income tenants and then selling the buildings for a profit.

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

Kitec
Majestic Plumbing to Pay Homeowners $475,000

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