If facing foreclosure, don’t just give up. Fight for your rights. “Citigroup paid almost $82,000 in opponents’ legal costs when settling challenges to four bankruptcy claims that used Orion letters in 2010, according to agreements filed with federal bankruptcy courts in New York and Arkansas. The bank reduced interest rates on the remaining debt by [...]
Citi stops sending foreclosures to law firm under investigation
October 12, 2010 By Leave a Comment
Wow! Citi recognizes that something is hooky (technical term) with the processing of foreclosures at one of the largest foreclosure mills in Florida and thus stops sending them new foreclosures to handle…hey what about those already underway?!? Maybe slowing down foreclosures and at least verifying the documents might be a good idea. The Law Offices [...]
Bank of America’s foreclosure halt hurts many
October 12, 2010 By Leave a Comment
The fact that Bank of America has claimed to halt foreclosures in all 50 states is significant. It is likely only a matter of time until the other big banks capitulate and offer some type of foreclosure freeze as well. What will be the outcome? It remains to be seen but for now there are [...]
Supreme Court wipes out debt when banks should have known
March 28, 2010 By Leave a Comment
Although we typically advocate bankruptcy as a last, last and then one more last resort, this is an interesting article that shows that sometimes a defense to the banks attempt to collect on a debt is simply: I told you, you should have known, follow the rules. If you or someone you know is facing a battle [...]
Obama Bank Policy shoots for $1 Trillion in Writedowns
March 19, 2010 By Leave a Comment
As Neil Garfield points out in the following information: “This is red meat for investors and borrowers seeking restitution for losses caused by improper appraisals, ratings and representations concerning loan and property values, loan viability, securities fraud, deceptive lending practices, TILA violations etc.” Ok, so if the mortgage is written down, how does that inpact [...]
