Mortgage Relief Project

San Diego’s 2010 foreclosure drop among highest in the U.S.

Posted on January 30, 2011 by project

Foreclosure activity in the San Diego region fell 17 percent in 2010, posting the third highest decrease among the 20 largest metro areas in the country, according to foreclosure-listings company RealtyTrac. Washington, D.C. (-22 percent) and the region of Riverside … Continue reading →

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Hawaii Foreclosure Reforms Designed To Protect Consumers

Posted on January 29, 2011 by project

HONOLULU - The state Consumer Protector Steven Levins said Friday that he was surprised by the consensus between lenders and consumer advocates about several reforms to Hawaii’s foreclosure law that he said will help many battered homeowners and even the … Continue reading →

Legal Bills for Fannie and Freddie Abuses Cost Taxpayers $160 Million

Posted on January 25, 2011 by project

As if the nations mortgage crisis has not been scandalous enough, evidence is emerging the the taxpayers will be footing the bill to hire high priced attorneys to protect the former top executives of Fannie Mae. While homeowners continue to … Continue reading →

Shamed Into Altering a Mortgage; Battered By the Bank

Posted on January 25, 2011 by project

The following story - from the New York Times - documents the troubles homeowners have in trying to get a mortgage modification. Even when it makes sense to both the homeowner and the bank, the banks have found a way … Continue reading →

LPS: 6.87 Million Mortgages Delinquent or in Foreclosure

Posted on January 23, 2011 by project

By: Carrie Bay 01/20/2011 As of the end of December, 6.87 million mortgages in the United States were delinquent or in the process of foreclosure, according to Lender Processing Services (LPS). The company provided the media with a preview of … Continue reading →

Bank of America loses $1.6 billion on mortgage troubles

Posted on January 21, 2011 by project

With Bank of America’s revenues dropping and share price falling, look for BofA to find new creative new ways to extract more money from consumers. The following is an excerpt from McClatchy news regarding BofA’s troubled mortgage unit. Bank of … Continue reading →

JPMorgan Chase Wrongly Overcharges and Forecloses On Military Families

Posted on January 20, 2011 by project

In a shocking new bit of news regarding the callousness and seeming incompetence of some of our nation’s largest banks, JPMorgan Chase has admitted to overcharging military families on their mortgages, and illegally foreclosing on 14 families. A recent NBC … Continue reading →

VA Authorizes Relocation Help for Short Sales and Deeds-in-Lieu

Posted on January 19, 2011 by project

By: Heather Hill Cernoch 01/17/2011 The Department of Veteran Affairs (VA) has instructed mortgage servicers to pay relocation assistance to borrowers completing short sales or deeds-in-lieu (DIL) of foreclosure on VA loans. “VA has a longstanding policy of encouraging servicers … Continue reading →

Moody’s: CMBS Loan Delinquencies Soar 79% in 2010

Posted on January 17, 2011 by project

By: Carrie Bay 01/14/2011 The delinquency rate on loans included in conduit and fusion U.S. commercial mortgage-backed securities (CMBS) deals skyrocketed 79 percent over the past 12 months, according to Moody’s Investors Service. Delinquencies started 2010 at 4.90 percent. By … Continue reading →

December Foreclosure Activity Mixed on West Coast

Posted on January 15, 2011 by project

A recent report by ForeclosureRadar shows unexpectedly mixed foreclosure activity in its coverage area for the month of December. The seeming aberrations could, however, be due to December being a month in which some lenders are more reluctant to foreclose. … Continue reading →